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Article
Publication date: 3 July 2017

Theingi Theingi, Hla Theingi and Sharon Purchase

The purpose of this paper is to investigate how institutional mechanisms operate within both formal and informal channels of cross-border remittance.

Abstract

Purpose

The purpose of this paper is to investigate how institutional mechanisms operate within both formal and informal channels of cross-border remittance.

Design/methodology/approach

Face-to-face interviews were conducted with Myanmar migrants mostly working in Thailand. Thematic coding was used to analyze field notes and identify themes in channel member perceptions and institutional environmental process.

Findings

Informal money transfer channels have achieved higher levels of legitimacy when compared to formal channels. Channel legitimacy is a more important attribute than efficiency. Lack of financial infrastructure, such as bank branches and ATM machines particularly in rural or outlying areas of Myanmar, the requirements for formal documentation and language and communication are the major institutional constraints that encourage the development and use of multiple channels in Myanmar. Formal money transfer channels develop with stronger regulative institutional processes, whereas informal money transfer channels develop with stronger cultural-cognitive and normative institutional processes.

Research limitations/implications

Using convenience sample of remitters mainly from one area of Thailand and other channel members from Yangon, the financial capital of Myanmar, may limit the applicability of the findings, which calls for future research.

Practical implications

Banks and money transfer offices need to improve legitimacy perception within migrant communities by building stronger networks with local banks and international banks. They could provide Myanmar speaking front-line service personnel and include brochures in the Myanmar language to improve the communication process. The findings and recommendations from this study are also applicable to informal channels and formal financial institutions in other ASEAN countries that are preparing to make investments in Myanmar. Moreover, Myanmar banks should also consider opening branches to cater for Myanmar workers in ASEAN, especially in Thailand, Singapore and Malaysia.

Originality value

This paper applies institutional theory within channels, investigates the context of a financial channel rather than a product channel, addresses the importance of institutional environmental mechanisms and constraints in influencing channel behavior and is embedded in the situational context of Myanmar, a newly opened South-East Asian economy where little prior research has been conducted.

Details

Journal of Business & Industrial Marketing, vol. 32 no. 6
Type: Research Article
ISSN: 0885-8624

Keywords

Content available
Article
Publication date: 18 March 2020

Livio Corselli

This paper aims to offer a general overview of money transfers in Italy and Europe focussing specifically on the migrant community. This is of particular interest because…

Abstract

Purpose

This paper aims to offer a general overview of money transfers in Italy and Europe focussing specifically on the migrant community. This is of particular interest because it is in that community where money transfers are most prevalent. This shows the money transfer system as a tool that could guarantee the financial inclusion of migrants but at the same time being used in a distorted and unlawful manner.

Design/methodology/approach

After a brief introduction focussed on working principles and legal frameworks, the paper will go deeper in evaluating money transfer data. This data, which comes from various legal authorities, will show the extent to which different migrant communities who reside in Italy are able to carry out illicit activity using money transfers. It will also highlight the existence of legislative inconsistencies through a case by case approach.

Findings

This paper shows the reason why people find it relatively easy to use money transfers to launder money or in a broader sense, take part in other illicit financial operations such as financing terrorism.

Originality/value

This study will examine recent Italian criminal cases concerning the unlawful use of money transfers. This paper is the original study of the author and has not been submitted elsewhere for publication.

Details

Journal of Financial Crime, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-0790

Keywords

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Article
Publication date: 19 July 2011

Jonas Rusten Wang

The aim of this paper is to compare the regulatory frameworks for informal remittance systems in the UK, Germany, The Netherlands, Sweden and Norway.

Abstract

Purpose

The aim of this paper is to compare the regulatory frameworks for informal remittance systems in the UK, Germany, The Netherlands, Sweden and Norway.

Design/methodology/approach

This study evaluates the effects of the different regulatory frameworks, in terms of level of control and quality of remittance services. It relies on reports from the Financial Action Task Force (FATF), law enforcement and regulatory agencies and the World Bank. It also draws heavily on academic literature and migrant household surveys.

Findings

There are major differences between the countries in how to regulate Hawala and other informal remittance systems. Even though all countries have challenges in regulating this sector, it seems that a simplified registration regime for money transfer operators is the most suitable option for improving both the level of control and the quality of remittance services. Looking at regulatory changes during the last decade, it appears that the national policies have converged towards a medium level.

Originality/value

This paper contributes to the debate on Hawala regulation by empirically evaluating how successful five different national policies have been. It also presents an updated picture of national regulations by including changes incurred by the EU Payment Services Directive (2007/64/EC), which was implemented in 2009 and 2010.

Details

Journal of Money Laundering Control, vol. 14 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

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Article
Publication date: 5 October 2012

Zakiah Muhammaddun Mohamed and Khalijah Ahmad

The purpose of this paper is to examine money laundering cases investigated by the Central Bank of Malaysia under the Anti‐Money Laundering and Anti‐Terrorism Financing Act 2001.

Abstract

Purpose

The purpose of this paper is to examine money laundering cases investigated by the Central Bank of Malaysia under the Anti‐Money Laundering and Anti‐Terrorism Financing Act 2001.

Design/methodology/approach

This study analyzes the contents of public releases by the enforcement division of the Central Bank for period 2007 to 2011. Analysis of data is carried out based on three categories: the predicate offence, the perpetrators and current status of the cases.

Findings

Findings reveal that most cases investigated by the Central Bank relate to sec 4(1) of AMLATFA 2001 and the main predicate offence related to the money laundering charges are on illegal deposit taking. Further it is found that directors of companies are the leading group of people charged under the Act for money laundering. In addition, findings also show that only half of the cases investigated have been charged in court.

Research limitations/implications

Data from this research only come from enforcement releases from the Central Bank of Malaysia. Since AMLATFA2001 is administered by multiple agencies, the research may not provide a comprehensive view of all the cases investigated. Future research should look at other agencies and in particular the Royal Police of Malaysia.

Practical implications

Findings from the study suggest that prosecuting money laundering cases by Bank Negara Malaysia are limited to cases with predicate offence of illegal deposit taking. The agency should explore other predicate offences and the concept of “irresistible inference” to increase its effort in prosecuting money laundering activities in the country.

Originality/value

The paper documents and analyzes the actual cases being investigated for money laundering offences. It provides basis for the standard setters to evaluate their effort to curb money laundering activities in Malaysia.

Details

Journal of Money Laundering Control, vol. 15 no. 4
Type: Research Article
ISSN: 1368-5201

Keywords

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Article
Publication date: 13 October 2020

Ahamed Lebbe Mohamed Aslam and Selliah Sivarajasingham

The purpose of this study aims to investigate the nature of the relationship between workers' remittances and financial development (FD) in Sri Lanka for the period from…

Abstract

Purpose

The purpose of this study aims to investigate the nature of the relationship between workers' remittances and financial development (FD) in Sri Lanka for the period from 1975 to 2017.

Design/methodology/approach

This study used both the exploratory data analysis and inferential data analysis (IDA) techniques to test the objective of this study. The IDA technique consisted of the augmented Dickey–Fuller (ADF) and Phillips–Perron unit root tests, the autoregressive distributed lag (ARDL) bounds cointegration technique, the Granger causality test and impulse response function analysis.

Findings

The unit root test results show that the variables are in mixed order. The empirical results of cointegration confirm that workers' remittances have a beneficial long-run relationship with FD in Sri Lanka. The Granger causality test result indicates that there is a bidirectional relationship between workers' remittances and FD. The impulse response analysis indicates that a positive shock to workers' remittance has an immediate significant positive impact on the FD of up to 10 years.

Practical implications

The analytical techniques used in this study explain how workers' remittances induce FD in Sri Lanka.

Originality/value

This study fills an important gap in the academic literature by using newly developed ARDL bounds cointegration techniques in Sri Lanka, by using impulse response function analysis, and by studying the dynamic relationship between workers' remittances and FD using time series data.

Details

International Journal of Social Economics, vol. 47 no. 11
Type: Research Article
ISSN: 0306-8293

Keywords

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Book part
Publication date: 21 July 2011

Jon S.T. Quah

The Lockheed scandal was exposed during the 4 February 1976 hearings of the Sub-Committee on Multinational Corporations of the United States Senate Committee on Foreign…

Abstract

The Lockheed scandal was exposed during the 4 February 1976 hearings of the Sub-Committee on Multinational Corporations of the United States Senate Committee on Foreign Relations. These hearings revealed that Lockheed Aircraft Corporation paid illegal payments in several countries including Japan to promote the sale of its planes to prevent bankruptcy. The Securities Exchange Commission obtained documents showing that Lockheed paid more than US$10 million to Yoshio Kodama, a “fixer” and Lockheed's secret representative, and the Marubeni Corporation, which was Lockheed's agent in Japan since 1959. During the same hearings on 6 February, A. Carl Kotchian, vice president of Lockheed, informed the committee that a senior Japanese government official received US$2 million from Marubeni and that his company relied on Kenji Osano, a close associate of former Prime Minister Kakuei Tanaka, as an intermediary in its efforts to sell 21 Lockheed's L-1001 Tristar airbuses to All Nippon Airways (ANA) (Macdougall, 1988, pp. 193–195).

Details

Curbing Corruption in Asian Countries: An Impossible Dream?
Type: Book
ISBN: 978-0-85724-819-0

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Expert briefing
Publication date: 15 May 2019

Capital outflows from Russia.

Details

DOI: 10.1108/OXAN-DB243875

ISSN: 2633-304X

Keywords

Geographic
Topical
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Article
Publication date: 5 May 2015

Kenneth Roderick Murray

The purpose of this article was to argue that developing an understanding of organised crime business structures is a necessary component of a modern effective law…

Abstract

Purpose

The purpose of this article was to argue that developing an understanding of organised crime business structures is a necessary component of a modern effective law enforcement response and this must found on initiatives to improved capture of relevant business intelligence and developments of suitable methods to analyse it.

Design/methodology/approach

Consideration of the dynamics of the challenge set by the business of organised crime, review of relevant academic studies; adaption of a template model to assess organised crime business structures; description of how this informs a new initiative being currently undertaken within Police Scotland under the name of “Project Jackal”.

Findings

Project Jackal rolled out in the summer of 2014. Report on experience will follow in subsequent papers.

Research limitations/implications

Further research and reporting on field experience is implied.

Practical implications

Development of more effective business intelligence capture by law enforcement and of analytical methods to exploit this intelligence against organised crime.

Social implications

Protection of communities and commerce from the corruptive influence of organised crime.

Originality/value

To stimulate discussion on methods and responses to tackle the challenges outlined.

Details

Journal of Financial Crime, vol. 22 no. 2
Type: Research Article
ISSN: 1359-0790

Keywords

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Article
Publication date: 2 March 2010

Fredrick M. Nafukho and Machuma A. Helen Muyia

The purpose of this paper is to examine the development of entrepreneurship education and training in Kenya as a strategic approach to addressing the unemployment problem…

Abstract

Purpose

The purpose of this paper is to examine the development of entrepreneurship education and training in Kenya as a strategic approach to addressing the unemployment problem among the school and university graduates in Kenya and Africa in general.

Design/methodology/approach

The study adopted a critical review of the literature method to achieve its purpose and to answer the key research question. The literature search included a computerized search of accessible and available material on entrepreneurship, entrepreneurial spirit, entrepreneurship education and training programs, history of entrepreneurship, and entrepreneurship models, Africa and entrepreneurship development.

Findings

It is shown that the development of entrepreneurial spirit and competencies should be a lifelong process. Addressing Africa's socioeconomic development in an entrepreneurial way requires learning successful lessons from within and without Africa. Specific examples of successful use of entrepreneurship to develop micro, small and medium‐sized enterprises in Africa and other parts of the world, especially the USA, are cited in the paper. A case study of using technology to promote entrepreneurship in Africa is provided.

Research limitations/implications

The paper is limited since it is based on a review of the literature. Quantitative and qualitative research studies focusing on entrepreneurship and socioeconomic development in Africa are recommended.

Originality/value

There are limited studies that focus on the issue of entrepreneurship and socioeconomic development in Africa. This paper and the special issue in particular have laid down pioneering ground work for research on entrepreneurship and socioeconomic development in Africa.

Details

Journal of European Industrial Training, vol. 34 no. 2
Type: Research Article
ISSN: 0309-0590

Keywords

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Article
Publication date: 3 May 2013

Gauri Sinha

The purpose of this paper is to explain the incompatibility of anti‐money laundering (AML) and counter‐terrorist financing (CTF) measures as a hasty over‐reaction after…

Abstract

Purpose

The purpose of this paper is to explain the incompatibility of anti‐money laundering (AML) and counter‐terrorist financing (CTF) measures as a hasty over‐reaction after 9/11, focusing on the compliance burdens that this imposes on the regulated sector, most notably financial institutions.

Design/methodology/approach

This paper explains the fundamental differences between money laundering and terrorist financing. It follows the evolution of the marriage between AML and CTF measures in the USA and the UK, comparing the pre and post‐9/11 phases. Consequently, the specific legal burdens placed on financial institutions as a result of this marriage are discussed.

Findings

The paper, while recognising the importance of targeting terrorist money, contends that inherent differences exist between money laundering and terrorist financing, and fusing them together is a hasty reaction to the 9/11 attacks. It argues that the need of the hour is to focus on terrorist profiling, rather than attempting to target terrorist financing through the AML regime. It also concludes that financial institutions are unfairly burdened with the task of “suspecting” terrorist funds, while receiving little or no guidance in this respect.

Originality/value

This paper is of value to governments, regulators, and financial institutions considering the effective implementation of the AML‐CTF regime in the UK and the USA.

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