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In 2022, US financial regulators proposed to mandate a single central clearing mechanism for treasury bonds and repo transactions to stabilize financial markets. The systemic risks inherent in repo markets were first highlighted by the global financial crisis and, as a response, global financial authorities such as the Financial Stability Board (FSB) and Bank for International Settlements (BIS) have advocated for the introduction of a central counterparty (CCP). This study examines the structural characteristics of Korean repo markets and proposes the introduction of CCPs as a way to mitigate systemic risk. To this end, the author analyzes the structural differences between US and European repo markets and estimates the potential consequences of introducing CCP clearing in local repo markets. In general, CCPs offer two benefits: they can reduce required capital through netting in multilateral transactions, and they can mitigate the effects of risk transfer by isolating counterparty risk during periods of turbulence. In Korea, the latter effect is expected to play a pivotal role in mitigating potential risks.

Lockdowns and the forced closure of certain industries during the COVID-19 pandemic severely impacted workers, particularly entrepreneurs, who were financially and emotionally involved in their businesses. Two studies have shown that entrepreneurs have a lower willingness to get vaccinated against COVID-19 than employees. In this study, the authors try to replicate the vaccination gap between the two groups. Second, the authors study whether the difference persists when controlling for demographics, vaccination attitudes and the COVID-19 context, including the financial impact of the pandemic, its effect on the wellbeing of workers, and government attitudes. Third, the authors study whether there are differences in how the context of the pandemic relates to vaccination willingness for entrepreneurs and employees.

The authors conduct regression analyses using three large datasets. The authors study vaccination status (February 2022) in a 27-country Eurobarometer sample, vaccination intention (December 2020) in a Dutch sample from the LISS panel and vaccination status (July 2021) in a sample from the Understanding America Study (UAS).

All datasets confirm that entrepreneurs have lower vaccination intention and coverage than employees. Even when controlling for the variables described in the LISS and UAS datasets, this negative difference remains. The study results also indicate that demographics, especially vaccination attitudes, are much more important than contextual influences in the decision to get vaccinated against COVID-19.

The authors are the first to dive further into the vaccination differences between entrepreneurs and employees. They advise further research into the drivers of this gap, specifically relating to the role of personality and social normative influences.

Bipolar and depression disorders are some of the most common mental health disorders affecting millions of people in low-and middle-income countries, including those in Africa. These disorders are therefore major contributors to the burden of diseases and disability. While an enhancement in income is seen as a major approach towards reducing the burden of these disorders, empirical evidence to support this view in the African context is lacking. This study therefore aims to examine the effect of per capita income growth on bipolar and depression disorders across African countries.

The study uses data from secondary sources comprising 42 African countries over the period, 2002–2019, to achieve its objective. The prevalence of bipolar and major depressive disorders (depression) are used as the dependent variables, while per capita income growth is used as the main independent variable. The system Generalised Method of Moments regression is used as the estimation technique.

In the baseline, the authors find per capita income growth to be associated with a reduction in the prevalence of bipolar (coefficient: −0.001, p < 0.01) and depression (coefficient: −0.001, p < 0.1) in the short-term. Similarly, in the long-term, per capita income growth is found to have negative association with the prevalence of bipolar (coefficient: −0.059, p < 0.01) and depression (coefficient: −0.035, p < 0.1). The results are similar after robustness checks.

This study attempts at providing the first empirical evidence of the effect of per capita income growth on bipolar and depression disorders across several African countries.

It is important to note that insider trading is currently outlawed under the Securities Act 17 of 2004 (Chapter 24: 25) as amended (Securities Act) in Zimbabwe. This Act enumerates some practices that may give rise to insider trading liability in the Zimbabwean financial markets. Nonetheless, numerous challenges, such as the lack of adequate financial resources, the lack of sufficient persons with the relevant skills and expertise on the part of the enforcement authorities, lack of political will, inadequacy of insider trading provisions, poor cooperation and collaboration between the relevant authorities and the ongoing coronavirus (Covid-19) pandemic have negatively impeded the effective regulation and combating of insider trading in Zimbabwe. To this end, the author explores the stated challenges and recommend measures that could be used by regulatory bodies and other relevant enforcement authorities to enhance the regulation and combating of insider trading in the Zimbabwean financial markets. This study aims to enhance the detection and combating of insider trading in Zimbabwe.

A qualitative research methodology is used through the analysis of relevant legislation and case law.

It is hoped that the findings and recommendations made in this study will be considered by the Zimbabwean policymakers.

The study does not use empirical research methodology.

The findings and recommendations made in this study could enhance the combating of insider trading activities in Zimbabwe.

The study seeks to curb insider trading in the Zimbabwean financial markets and financial institutions in the wake of the covid-19 pandemic-related regulatory and enforcement challenges.

The study provides original research on the regulation and combating of insider trading activities in Zimbabwe.

In 2019, FIU-the Netherlands celebrated its 25th anniversary. This study takes the occasion to reflect on the role of the FIU in financial surveillance and to describe its core practices of collecting, analysing and disseminating financial intelligence.

Because FIU practices are often secret and its transaction data classified as state secrets, the FIU’s daily operational activities remain obscure. Drawing on interviews, public reports and an online training course, this study encircles secrecy and offers a fine-grained analysis of the FIU's core activities.

The article finds that the FIU plays a pivotal role in financial surveillance because it can operate at various intersections. An FIU operates at the intersection of finance and security, in between the public and private sector and at the national and international domain. This pivotal role makes the FIU indispensable in the surveillance of payment systems and spending behavior.

The article poses that the desirability and effectiveness of financial surveillance has to date not received sufficient consideration, while it affects (the privacy of) anyone with a bank account. The article asks: is it ethically justifiable that transaction information is declared suspect, investigated, and shared nationally and internationally, without the individual or entity concerned officially being notified and legally named a suspect?

This case-study is not only relevant for the study of finance/security, AML/CFT and financial surveillance, but also to policy makers and the broader public who merit an understanding of how their financial behaviour is being surveilled.

The purpose of the study is to identify the soft skills and abilities that are crucial to success in the fields of operations management (OM) and supply chain management (SCM), using the O*NET database and the classification of a set of professional figures integrating values for task skills and abilities needed to operate successfully in these professions.

The study used the O*NET database to identify the soft skills and abilities required for success in OM and SCM industries. Correlation analysis was conducted to determine the tasks required for the job roles and their characteristics in terms of abilities and soft skills. ANOVA analysis was used to validate the findings. The study aims to help companies define specific assessments and tests for OM and SCM roles to measure individual attitudes and correlate them with the job position.

As a result of the work, a set of soft skills and abilities was defined that allow, through correlation analysis, to explain a large number of activities required to work in the operations and SCM (OSCM) environment.

The work is inherently affected by the database used for the professional figures mapped and the scores that are attributed within O*NET to the analyzed elements.

The information resulting from this study can help companies develop specific assessments and tests for the roles of OM and SCM to measure individual attitudes and correlate them with the requirements of the job position. The study aims to address the need to identify soft skills in the human sphere and determine which of them have the most significant impact on the OM and SCM professions.

The originality of this study lies in its approach to identify the set of soft skills and abilities that determine success in the OM and SCM industries. The study used the O*NET database to correlate the tasks required for specific job roles with their corresponding soft skills and abilities. Furthermore, the study used ANOVA analysis to validate the findings in other sectors mapped by the same database. The identified soft skills and abilities can help companies develop specific assessments and tests for OM and SCM roles to measure individual attitudes and correlate them with the requirements of the job position. In addressing the necessity for enhanced clarity in the domain of human factor, this study contributes to identifying key success factors. Subsequent research can further investigate their practical application within companies to formulate targeted growth strategies and make appropriate resource selections for vacant positions.

The review examines the existing literature on blockchain-based small and medium enterprise (SME) finance and highlights its trend, themes, opportunities and challenges. Based on these factors, the authors create a framework for the existing literature on blockchain-based SME financing and lay down future research paths.

The review follows a systematic approach. It includes 53 articles encompassing multiple dimensions of blockchain-based SME finance, including peer-to-peer lending platforms, supply chain finance (SCF), decentralized lending protocols and tokenization of assets. The review critically evaluates these approaches' theoretical underpinnings, empirical evidence and practical implementations.

The review demonstrates that blockchain-based SME finance holds significant promise in addressing the credit gap by leveraging blockchain technology's decentralized and transparent nature. Benefits identified include reduced information asymmetry, improved access to financing, enhanced credit assessment processes and increased financial inclusion. However, the literature acknowledges several challenges and limitations, such as regulatory uncertainties, scalability issues, operational complexities and potential security risks.

The article contributes to the growing knowledge of blockchain-based SME finance by synthesizing and evaluating the existing literature. It also provides a framework for the existing literature in the area and future research paths. The study offers insights for researchers, policymakers and practitioners seeking to understand the potential of blockchain technology in filling the SME credit gap and fostering economic development through improved access to finance for SMEs.

Railways are a well-known example of complex critical infrastructure, incorporating socio-technical systems with humans such as drivers, signallers, maintainers and passengers at the core. The technological evolution including interconnectedness and new ways of interaction lead to new security and safety risks that can be realised, both in terms of human error, and malicious and non-malicious behaviour. This study aims to identify the human factors (HF) and cyber-security risks relating to the role of signallers on the railways and explores strategies for the improvement of “Digital Resilience” – for the concept of a resilient railway.

Overall, 26 interviews were conducted with 21 participants from industry and academia.

The results showed that due to increased automation, both cyber-related threats and human error can impact signallers’ day-to-day operations – directly or indirectly (e.g. workload and safety-critical communications) – which could disrupt the railway services and potentially lead to safety-related catastrophic consequences. This study identifies cyber-related problems, including external threats; engineers not considering the human element in designs when specifying security controls; lack of security awareness among the rail industry; training gaps; organisational issues; and many unknown “unknowns”.

The authors discuss socio-technical principles through a hexagonal socio-technical framework and training needs analysis to mitigate against cyber-security issues and identify the predictive training needs of the signallers. This is supported by a systematic approach which considers both, safety and security factors, rather than waiting to learn from a cyber-attack retrospectively.

Banditry and terrorism constitute serious security risks in Nigeria. This follows the fact that Nigeria is rated as one of the leading states in the world that is plagued by terrorism. Terrorists and bandits usually embark on predicate crimes such as kidnapping, smuggling, narcotics trade, and similar trades to finance their terrorist enterprises in Nigeria. The funds realized by criminals from nefarious sources such as sales of narcotics and ransom from kidnapping are usually laundered to make their criminal enterprises self-sustaining. Thus, all “dirty” money is laundered so as not to attract the attention of law enforcement agents. The funds realized through receipt of ransom from kidnapping, smuggling or funds from sponsors are laundered through channels such as bureau de change, which are difficult to monitor by the Nigerian authorities due, in part, to flaws and loopholes in the current anti-money laundering and anti-terrorist laws. This paper aims to adopt a doctrinal and qualitative desktop research methodology. In this regard, the current anti-money laundering and anti-terrorist laws are discussed to explore possible measures that could be adopted to remedy the flaws and loopholes in such laws and combat money laundering and financing of terrorism in Nigeria.

The article analyses the regulation and combating of money laundering and terrorist financing activities in Nigeria. In this regard, a doctrinal and qualitative research method is used to explore the flaws in the Nigerian anti-money laundering laws so as to recommend possible remedies in respect thereof.

It is hoped that policymakers and other relevant persons will use the recommendations provided in this article to enhance the curbing of money laundering and terrorist financing activities in Nigeria.

The article is not based on empirical research.

This study is important and vital to all policymakers, lawyers, law students and regulatory bodies in Nigeria and other countries globally.

The study seeks to curb money laundering and terrorist financing activities in Nigeria.

The study is based on original research which is focused on the regulation and combating of money laundering and terrorist financing activities in Nigeria.

This paper aims to focus on the need for an enhanced anti-money laundering (AML) regulation for decentralised finance (DeFi) to protect the integrity of global financial systems against illicit activities. Research highlights the requirement for a robust regulatory strategy for the fast-paced DeFi evolvement.

This study used doctrinal legal research by analysing legislation, which involved creating use cases to illustrate different aspects of potential illicit activities via the DeFi ecosystem. Various DeFi applications were assessed for the potential regulatory responses and outcomes.

This paper offers valuable insight into the regulatory challenges presented by DeFi. This study addresses the blind spots leveraged by criminals afforded by the DeFi’s decentralised nature. This paper offers a comprehensive examination of DeFi regulatory challenges based on use-case scenarios and provides recommendations for regulators on how to address them effectively.

This paper proposes measures for regulatory authorities to minimise money laundering risks through new channels such as decentralised exchanges, non-custodial wallets and cross-chain bridges. This study concludes with the future directions for DeFi regulation and AML compliance.