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This study aims to investigate access to mobile money services and its relationship to financial planning for adults with mobile phones across different countries in different income groups.

Using new survey data from the Global Findex Database over the 2021–2022 time period, this study applies traditional cross-sectional regressions in investigating the relationship between access to mobile money accounts and the proportion of adults that save and borrow across different countries in different income groups.

This study provides findings on population dynamics, the percentage of adults who own mobile phones, the percentage of adults that own mobile money accounts, and the percentage of adults who save and borrow through mobile money accounts across different countries in different income groups. Results of the cross-sectional regressions indicate a positive relationship between saving and borrowing in relation to access to mobile money accounts across different countries in different income groups. The empirical results are robust after controlling for financial literacy, and moreover, suggest a relatively stronger effect for saving relative to borrowing.

This study proposes a novel approach toward examining the relationship between access to mobile money accounts and the proportion of adults that save and borrow. This study quantifies the aggregate impact of mobile money access on saving and borrowing based on a new cross-sectional data set for different countries in different income groups.

To most people, money is a motivator, which is robustly true for salespeople. A high love of money attitude predicts university students’ poor academic performance in a business course and cheating in laboratory experiments and multiple panel studies, but money (income) itself does not predict dishonesty. Extrinsic reward undermines intrinsic motivation. Very little research has incorporated the grit construct in the sales literature and explored the relationship between grit and the love of money. Further, a growth mindset and a fixed mindset may also impact salespeople’s job performance. This study aims to explore a brand-new theoretical structural equation model (SEM) and investigate the relationships between individual characteristics (growth and fixed mindsets and grit orientation) and job performance directly and indirectly through a mediator – salespeople’s love of money attitude.

This study uses Qualtrics and collects data from 330 business-to-business (B2B) salespeople across several industries in the USA. This study uses a formative SEM model to test this study’s hypotheses.

First, there are significant correlations among grit, a growth mindset and a fixed mindset, revealing no construct duplication or redundancy. Second, both a growth mindset and grit indirectly enhance job performance through the love of money attitude – a mediator, offering a brand-new discovery. Third, counter-intuitively, a growth mindset and grit do not directly improve job performance. Fourth, grit is significantly and negatively related to the love of money attitude, adding a new twist to this study’s theoretical model. Fifth, a fixed mindset undermines job performance directly but is unrelated to the love of money. Overall, B2B salespeople’s love of money attitude (employee demand) undermines sales personnel’s self-reported job performance (organization demand) in the organization and employee’s supply and demand exchange relationship.

The findings reveal that a growth mindset, a fixed mindset and grit contribute differently to sales personnel’s love of money attitude and job performance in this study’s theoretical model. The love of money serves as a mediator. A commonly accepted belief is that money is a motivator. Money (income) itself and the love of money attitude are two separate constructs. This study’s novel discoveries provide the essential missing monetary-aspirations-to-job-performance link in the literature – ardent monetary aspiration undermines self-reported job performance. This study offers inspiration to help decision-makers make happy, healthy and wealthy decisions and improve performance.

This study aims to investigate the impact of FinTech on money laundering within the context of Nigeria. The motivation stems from observations suggesting that FinTech platforms might be used for illicit money transfers, particularly from developed to developing economies. While existing literature predominantly highlights the positive aspects of FinTech, there's a dearth of studies addressing its potential association with money laundering. Current understanding of this relationship relies heavily on anecdotal evidence derived from reported or convicted cases. Thus, the primary goal of this study is to analyze the influence of FinTech on money laundering while also considering the moderating effects of financial regulation and financial literacy as perceived by users. The research delves into regulatory perspectives concerning money laundering and FinTech.

To fulfill the study's objectives, a quantitative research design is used. A survey of 248 FinTech users in Nigeria is conducted using structured questionnaires. Data collected from the questionnaires is analyzed using partial least square structural equation modeling (PLS-SEM).

The quantitative analysis revealed a significant relationship between FinTech and money laundering and that financial regulation moderates the relationship between FinTech and money laundering in Nigeria, but such was not established with respect to financial literacy. The results of the quantitative approach that uses secondary data are consistent with the qualitative approach. FinTech the results indicate the presence of technology induced money laundering in Nigeria. Regulating technology-based anti-money laundering poses serious challenges for developing countries due to the absence of specific laws that mitigate the threats.

The paper focuses on Nigeria as a case study, which may limit the generalizability of the findings to other countries with different FinTech ecosystems, regulatory frameworks and financial literacy levels.

The finding is useful in developing guidelines and regulations by policymakers and strategies by practitioners in relation to FinTech, money laundering, financial regulation and financial literacy. On the basis of the above, the authors recommend regulation at the national and industry level to mitigate the adverse effect of technology on money laundering. Thus, multilateral partnerships can help in tackling tech-induced money laundering through strengthened cooperation.

Money laundering risks: The study highlights that FinTech, while beneficial, also poses significant risks for money laundering activities, especially in developing countries like Nigeria. Regulatory Importance: It emphasizes the critical role of financial regulations in mitigating the risks associated with FinTech and money laundering. Financial Literacy: The paper suggests that financial literacy does not significantly moderate the relationship between FinTech and money laundering, indicating the need for stronger regulatory measures rather than relying solely on financial literacy. Policy Formulation: The findings are crucial for policymakers to formulate strategies that balance the benefits of FinTech with the need to prevent money laundering and ensure financial system integrity.

This research presents a novel approach to methodology, specifically focusing on the qualitative research design, addressing population, sampling techniques and data collection methods. It emphasizes techniques aimed at ensuring measurement quality and achieving research objectives. Data collection used survey questionnaires, while analysis involved both statistical package for social science (SPSS) and PLS-SEM. SPSS facilitated descriptive and preliminary analyses, while PLS-SEM confirmed measurement quality and tested hypotheses. Ethical considerations were paramount throughout the research process, underscoring the commitment to maintaining originality in research endeavors.

Attaining the Sustainable Development Goal 2 (SDG2) of zero hunger continues to be a challenge in most parts of Sub-Saharan Africa. However, financial inclusion is seen as a potential pathway for reducing food insecurity among poor households. Mobile money is a financial inclusion instrument that is easily accessible to poor households and has the potential to increase the level of financial inclusion. This paper contributes to the literature by examining the determinants of mobile money adoption, its effects on household food security and the choice of coping strategies in Burundi, a post-conflict and fragile country.

Using survey data that involved 860 households in Burundi, we adopted the Household Hunger Scale (HHS) developed under the Food and Nutrition Technical Assistance Project to measure household food security. We further employ the endogenous switching regression treatment effects model for ordered outcomes and the multivariate probit model to achieve our aims.

The results of our study reveal that the adoption of mobile money is influenced by factors such as gender, marital status, age, formal education, membership in a social network, area of residence and access to a tarred road network. Additionally, the food security status of a household was determined by marital status, formal education, social network membership, access to tarred roads, off-farm income, access to credit and land tenure security. We confirm that mobile money adoption has a significantly positive effect on the food security status of households with heterogeneity in gender and area of residence. We also find that mobile money adoption reduces the likelihood of households adopting consumption-related coping strategies.

The promotion of mobile money should, therefore, be included in Burundi’s national food security policies.

This study contributes to the literature by providing empirical evidence on the effect of mobile money adoption on household food security and the choice of coping strategies in a post-conflict context.

The purpose of this study is to examine the factors that may have an influence on the continuous intention to use mobile money as one of the Financial Technology (FinTech) products beyond the COVID-19 pandemic lockdown period.

This study has empirically tested the expanded post-acceptance model (Extend-PAM) and the expectation-confirmation model (ECM) to explain the mobile money adoption in Jordan. Data collected were analyzed through partial least squares–structural equation modeling (PLS-SEM).

The results mainly showed that the quality of administrative services and trust significantly impact confirmation and perceived usefulness. In addition, perceived security and knowledge of mobile money as one of the FinTech services significantly influence users’ confirmation and perceived usefulness. Also, usefulness and satisfaction influence continuous intention. Significant relationships were noted among confirmation, perceived usefulness, satisfaction and continuous intention to use mobile money.

This paper integrates two key theories: the expanded post-acceptance model (Extend-PAM) and the expectation-confirmation model (ECM) in the post-adoption behavior of mobile money. Therefore, this study attempts to fill a literature gap by examining the antecedent factors that influence the continuous intention to use mobile money services in the post-consumption stage.

This study examines how the introduction of mobile money transfers, while making it efficient and convenient to access funds, has affected rural households’ savings behavior and the banking sector.

This study utilizes Fiji’s most recent agricultural census data to model the agricultural household’s saving decision. The study estimates an probit model to examine rural households' savings behavior. Furthermore, it utilizes time series secondary data to examine how funds transfer has been channeled to rural households in Fiji.

Firstly, the results demonstrate that with the mobile money transfer platform launch, the banking sector has lost substantial money previously used to pass through its system, thus losing service fees and interest income. Furthermore, the findings demonstrate that those using mobile wallet platforms to receive money are more likely not to have a savings account with the bank. Noting the cultural systems and social settings of the native households and the ease of payments via the mobile platform, they tend to spend more on consumption rather than saving, thus making these households more vulnerable during shocks such as natural disasters.

While mobile money transfer is hailed as a revolution, no research has yet picked up the downside to it, that of undermining the very effort by policymakers to get low-income rural households to save. Secondly, this study also highlights how mobile money transfer deprives the banking system of a significant transfer fee income and a source of funds to pool and lend to earn interest income. Furthermore, this study brings to the forefront a dichotomy about how a rural indigenous community sees the welfare and prosperity of their community much differently than what economics textbooks portray.

Transaction laundering has become an increasingly intricate and rampant form of financial misconduct in the age of digital commerce. This research paper conducts an exhaustive examination of this issue, categorizing the various techniques criminals use to highlight areas where existing risk management practices could be further refined. Amid escalating regulatory scrutiny of both financial and nonfinancial entities, the paper stresses the implications of not meeting regulatory standards. As a novel contribution, this study advocates for a shift in risk management strategies. It argues that entities under obligation should harness advanced technological methods to counter transaction laundering challenges effectively. The study serves as a relevant guide for online businesses aiming to strengthen their measures against transaction laundering. For future work, the potential effectiveness of technology-driven countermeasures deserves further scrutiny.

This study used a conceptual legal research method, using a library-based doctrinal legal research approach with a conceptual legal perspective, drawing from existing literature. This study reviewed primary and secondary legal sources, including case law and provisions of the Money Laundering (Prohibition) (Amended) Act, 2012, and the Terrorism (Prevention) Act 2013 (as amended). This study also assessed the provisions of the Economic and Financial Crimes Commission (Establishment) Act, Laws of the Federal Republic of Nigeria, 2004. This research further incorporated a blend of archival and secondary legal sources. This study conducted comparative analyses, examining the legal frameworks of Canada, the UK, Hong Kong and China alongside Nigeria to identify potential lessons for enhancing Nigeria’s legislation concerning money laundering and terrorism financing. This study also assessed problems and derived insights from the study’s findings. This research method was chosen to establish the credibility of the findings regarding the issues of money laundering and terrorist financing.

The analysis uses a comprehensive network dataset, encompassing ties among individuals and businesses in the Netherlands from 2005 to 2019. It integrates administrative data, including family ties, shared bank accounts and employment history, with corporate information and ownership relations from the Chamber of Commerce. Criminal data related to police interventions, legal convictions and suspicious money laundering transactions are linked to these networks. This unique approach overcomes the scarcity of large empirical datasets in criminological research, offering valuable insights into criminal network behavior and dynamics. Understanding how criminal networks adapt to anti-money laundering policies aids regulatory authorities in designing more effective and efficient measures while also enhancing the tools available to enforcement authorities for detection and investigation.

AML policies are often criticized for their high costs relative to the perceived benefits. This paper's method avoids dark number estimations and relies on high-quality administrative data. The theoretical contribution includes an examination of specialization, competition and collaboration within criminal networks. The empirical aspect uses a unique dataset and emerges as a methodology for evaluating the effects of AML policy measures using temporal cluster analysis.

Despite evidence that cashless payment modes influence spending behavior, researchers have yet to explain the underlying mechanism. Cash serves as a store of value, and transactions involve the transference of ownership in circulation. This study aims to unpack why the physical and visceral nature of cash embodies psychological ownership and how the physicality of cash attenuates the awareness of spending, curtailing instinctive and unnecessary spending.

Drawing on data collected in 2013 in New Zealand, the authors conducted another study in the quite different context of China in September 2023, using identical semistructured discussion protocols. The data from 2013 involved five focus group sessions containing at least six participants, involving 31 adults who also completed an open-ended questionnaire immediately before the group discussion commenced. The data collection in 2023 used the same open-ended and semistructured discussion protocol used in 2013, resulting in 180 adult open-ended responses – a nonprobability criterion-based purposive sampling guided participant selection in the 2013 and 2023 studies.

Findings reveal that psychological ownership does manifest in the app more than in the ownership of money itself. People felt happy, confident, safe and secure while using apps that stored their money. Physical attributes of cash result from sensory perceptions of handling, counting and touching cash and coins. A sense of psychological ownership heightens spending awareness and ramifies spending behavior. The research found sadness and guilt as negative emotions when parting with money.

This study offers empirical support to explain why psychological ownership of cash regulates spending and why the psychological processes that underlie “owned” money interrupt the spending with cash.

The study seeks evidence on the asymmetric effects of broad money growth on inflation in the short run and long run, in the context of emerging markets and developing economies (EMDEs).

Using a panel dataset of 122 EMDEs (by distinguishing between inflation-targeting and non-inflation-targeting EMDEs), we employ the nonlinear counterpart of the autoregressive distributed lag framework, which provides evidence of asymmetric dynamics between money growth and inflation in EMDEs.

In consonance with the quantity theory of money, we find a long-run relationship between money growth and inflationary outcomes. We also find that the response of inflation is higher to a tightening episode in the monetary policy stance than to a loosening episode. The study also provides evidence that adopting the inflation targeting framework in EMDEs has led to a significant reduction in the inflation rates along with ensuring a higher magnitude of transmission from money supply growth to inflationary outcomes.

To the best of our knowledge, the present study is one of the first attempts to evaluate the differential impact of broad money growth on inflationary outcomes, using a panel dataset of EMDEs. As a result of inherent differences in the financial structures of EMDEs vis-à-vis advanced nations, there is an imperative need to assess the dynamics of pass-through from money supply to inflation to gain an understanding of the mechanism of monetary transmission in these economies.

The purpose of this paper is to describe the progression from trade-based money laundering to service-based money laundering using the Regulatory Dialectic Theory with an explanation for the success of this progression arising from Agency Theory.

The authors provide a literature review regarding agency theory and the regulatory dialectic as the framework to examine service-based money laundering using three documented case studies. Using the caselet approach, this paper demonstrates that innovation in financial crime typologies is ongoing.

The short cases in this paper illustrate the factors related to the regulatory dialectic theory that have yielded innovation in service-based money laundering.

This paper examines only three recent SBML innovations.

Service-based money laundering represents an incremental advancement in money laundering beyond trade-based money laundering, in part supported by agency conflicts between financial intermediaries and stakeholders.

Managers and regulators should take into account that typologies will change as predicted by the regulatory dialectic and that the regulatory response can be burdensome to financial sector entities. This paper also provides recommendations for managers and regulators.

To the best of the authors’ knowledge, this paper is the first to uncover new innovations in SBML in a high-risk geographic region.