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1 – 10 of over 5000
Article
Publication date: 2 November 2023

Meiryani

The purpose of this paper is to find out the role and factors that lead to efforts by banking institutions to deal with money laundering by using the principle of knowing your…

Abstract

Purpose

The purpose of this paper is to find out the role and factors that lead to efforts by banking institutions to deal with money laundering by using the principle of knowing your customer.

Design/methodology/approach

This research method uses a sociological juridical approach and descriptive analysis in analyzing the data.

Findings

The results of the study found that the implementation of the principle plays a role in identifying each transaction, and if there is a transaction that is considered suspicious, each bank is required to report the transaction to the center for reporting and analysis of financial transactions.

Practical implications

Banks must reduce the risk of being used as a means of money laundering by knowing customer identities, monitoring transactions, maintaining customer profiles and reporting suspicious transactions made by parties using bank services. The application of the know your customer principle (KYCP) is based on the consideration that KYCP is not only important in the context of eradicating money laundering but also in the context of implementing prudential banking to protect banks from various risks in dealing with customers.

Originality/value

To the best of the author’s knowledge, this is first empirical study of banking in Indonesia that conduct money laundering crimes through application of KYCPs.

Details

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

Keywords

Article
Publication date: 19 May 2023

Meiryani

The purpose of this study is to exploration potential money laundering crimes with virtual currency facilities in Indonesia. Money laundering using crypto is the process of…

Abstract

Purpose

The purpose of this study is to exploration potential money laundering crimes with virtual currency facilities in Indonesia. Money laundering using crypto is the process of disguising the origin of money obtained illegally. Then, the perpetrator transfers it to a legitimate business. Virtual money then started to become a phenomenon in society since the emergence of cryptocurrencies as a form of technology development of e-commerce activities.

Design/methodology/approach

This research method is normative law which is prescriptive. The data collection technique used is document study or literature study by collecting primary and secondary legal materials.

Findings

The results of this study show that the bitcoin virtual currency has the potential to act as a means of money laundering. There are technologies and online platforms that are moving with more sophisticated methods. Through bitcoin exchanges, it has the greatest potential for money laundering. The usage of virtual currency (cryptocurrency) by those who commit money laundering offenses is responsible for the actions’ severe negative effects on the State of Indonesia.

Originality/value

To the best of the author’s knowledge, this is the first study conducted in Indonesia that explores potential money-laundering crimes using virtual currency facilities.

Details

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

Keywords

Article
Publication date: 27 September 2021

Mohammad Ayasrah

Many international radiology societies, including American College of Radiologists (ACR), have established guidelines for optimum forms and contents of medical imaging reports to…

Abstract

Purpose

Many international radiology societies, including American College of Radiologists (ACR), have established guidelines for optimum forms and contents of medical imaging reports to ensure high quality and to guarantee the satisfaction of both the referring physician and the patient. Therefore, this study aims to analyze the criteria of magnetic resonance imaging (MRI) reports in Jordan according to the standards of the ACR.

Design/methodology/approach

This cross-sectional study was conducted in early January 2021 for two weeks. An invitation letter was sent to 85 MRI centers of various health-care sectors in Jordan to participate in the study. Each invitee was requested to send at least ten different MRI reports. The study used a questionnaire containing the checklist of the latest edition 2020 of ACR’s practice parameter to communicate the diagnostic imaging results and the demographic information of the participating MRI centers. Seven basic elements were assessed for content-related quality of MRI reports, which are administrative data, patient demographics, clinical history, imaging procedures, clinical symptoms, imaging observations and impressions. Statistical analyses were used to evaluate the data.

Findings

Forty-one MRI centers participated in the study with 386 different MRI exam reports. The majority (92%) of the reports were computer-generated. Free texted unstructured reports and head-structured reports had an almost equal percentage of around 40%. Exam and radiologist demography as well as exam findings criteria were 100% available in all reports. The percentage of exam conclusion, and exam description and techniques were 2% and 4.9%, respectively (N = 368). There was a positive association between computer-generated reports and the presence of picture archiving and communication systems (PACS)/health information systems r = 0.443.

Originality/value

Structured and free text unstructured reporting were the common types of MRI exam reports in Jordan. Handwriting exam reporting existed in few MRI centers, particularly in those that had no PACS and radiology information systems.

Details

International Journal of Human Rights in Healthcare, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2056-4902

Keywords

Article
Publication date: 2 January 2024

Wujun Tang, Jiwon Chung and Sumin Koo

This study aims to conduct text mining and semantic network analysis of muscle-supportive and posture-corrective wearable robots for the elderly to understand key terms related to…

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Abstract

Purpose

This study aims to conduct text mining and semantic network analysis of muscle-supportive and posture-corrective wearable robots for the elderly to understand key terms related to the topic and to identify considerations for developing these types of clothing.

Design/methodology/approach

The authors searched and identified the key terms wearable robot, muscle-supportive, posture correction and elderly using the text-mining software Textom to extract terms as well as the network analysis software UCINET 6 to process and visualize the relationships among the terms. The authors compared and analyzed the term frequency (TF), the TF-inverse document frequency and the degree centrality of the terms, and the authors visualized and summarized the terms using NetDraw.

Findings

The key terms and their relationships in 3–4 groups were identified: wearable robot, muscle-supportive, posture correction and elderly. The authors identified the aspects of designing muscle-supportive and posture-corrective wearable robots for the elderly.

Originality/value

This study contributes to the field of muscle-supportive clothing and wearable robotics by deriving insights into what people are discussing and interested in, and by offering recommendations when developing these types of clothing for the elderly.

Details

Research Journal of Textile and Apparel, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1560-6074

Keywords

Article
Publication date: 17 November 2023

Durgesh Pandey

This paper aims to analyse the Financial Intelligence Units (FIUs) of Canada, Australia, The Netherlands and India, focussing on key internal and external processes, such as the…

Abstract

Purpose

This paper aims to analyse the Financial Intelligence Units (FIUs) of Canada, Australia, The Netherlands and India, focussing on key internal and external processes, such as the exchange of information, operations and compliance with Financial Action Task Force (FATF) recommendations. The paper relies on secondary sources to compare and assess the practices and strategies employed by FIUs within these jurisdictions.

Design/methodology/approach

The paper relies on secondary sources to compare and assess the practices and strategies used by FIUs within these jurisdictions.

Findings

The ability to combat money laundering and the financing of terrorism (AML/CFT) in countries is influenced by several internal and external factors, including the efficiency of their FIUs’ and compliance with FATF recommendations. The analysis of FIUs across the countries demonstrates a raft of multifaceted challenges and concerns. Yet, when it comes to compliance with FATF’s recommendations, shared concerns emerge, hinting at the complex interplay between country-specific operations and global compliance standards. The paper recommends enhancements to the FIUs’ operational efficiency and overall effectiveness in combating financial crimes.

Research limitations/implications

The paper’s findings are limited to openly available data (such as annual reports and internet sources) for the respective countries. The paper relies on the transparency of FIUs through public media, focusing on comparing and analysing the FIUs of only four specific countries, which limits the generalisations of the findings.

Practical implications

This paper is significant for policymakers and FIU authorities, as they strive to improve the effectiveness of their units and assess their performance in alignment with international standards. The comparative analysis of the FIUs of India, Australia, Canada and The Netherlands provides valuable insights and recommendations that can inform policymakers and operational strategies towards enhancing how FIUs function globally.

Originality/value

This paper offers a unique comparative analysis of the FIUs of India, Australia, Canada and The Netherlands. Its findings have practical implications for policymakers and FIU authorities towards enhancing performance against international AML/CFT standards and promoting global cooperation.

Details

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

Keywords

Open Access
Article
Publication date: 8 February 2024

Henri Hussinki, Tatiana King, John Dumay and Erik Steinhöfel

In 2000, Cañibano et al. published a literature review entitled “Accounting for Intangibles: A Literature Review”. This paper revisits the conclusions drawn in that paper. We also…

1986

Abstract

Purpose

In 2000, Cañibano et al. published a literature review entitled “Accounting for Intangibles: A Literature Review”. This paper revisits the conclusions drawn in that paper. We also discuss the intervening developments in scholarly research, standard setting and practice over the past 20+ years to outline the future challenges for research into accounting for intangibles.

Design/methodology/approach

We conducted a literature review to identify past developments and link the findings to current accounting standard-setting developments to inform our view of the future.

Findings

Current intangibles accounting practices are conservative and unlikely to change. Accounting standard setters are more interested in how companies report and disclose the value of intangibles rather than changing how they are determined. Standard setters are also interested in accounting for new forms of digital assets and reporting economic, social, governance and sustainability issues and how these link to financial outcomes. The IFRS has released complementary sustainability accounting standards for disclosing value creation in response to the latter. Therefore, the topic of intangibles stretches beyond merely how intangibles create value but how they are also part of a firm’s overall risk and value creation profile.

Practical implications

There is much room academically, practically, and from a social perspective to influence the future of accounting for intangibles. Accounting standard setters and alternative standards, such as the Global Reporting Initiative (GRI) and European Union non-financial and sustainability reporting directives, are competing complementary initiatives.

Originality/value

Our results reveal a window of opportunity for accounting scholars to research and influence how intangibles and other non-financial and sustainability accounting will progress based on current developments.

Details

Journal of Accounting Literature, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 23 June 2023

Abdirahman Hassan Hersi

Concerns on money laundering (ML) and terrorist financing increased, as ML accounted 2%–5% of the global GDP, with Switzerland, the USA, Canada, India and Russia having high…

Abstract

Purpose

Concerns on money laundering (ML) and terrorist financing increased, as ML accounted 2%–5% of the global GDP, with Switzerland, the USA, Canada, India and Russia having high laundering rates. Banks were fined over US$320bn in 2008, but money laundering still accounted for 3.6% of global GDP in 2009, thereby indicating the need for effective regimes. Therefore, this study aims to critically analyze the antimoney laundering (AML)/CFT regime of Somalia, identify loopholes in the regime, raise awareness and propose recommendations for regime improvement.

Design/methodology/approach

The qualitative research approach is used to compare Somalia’s AML/CFT regime with the corresponding regime of Malaysia through the black letter method combined with document analysis. Malaysia is selected as a benchmark for two reasons: firstly, it is an Islamic country like Somalia, and secondly, Malaysia has complied with integrity-related standards.

Findings

This study revealed that an impactful AML/CTF regime is reached by closing loopholes in the law, reevaluating and improving regulatory agencies and measures, facilitating formal financial services and collaborating with regional and international standard setters. According to the results, Somalia AML/CFT regime is counterproductive in criminalizing offenses; regulating digital currencies and mobile money, disclosures and nonfinancial business and provisions; and governing training requirements for regulatory agencies and financial institutions.

Originality/value

To the best of the author’s knowledge, this paper is the first of its kind in the study of Somalia’s regime building. Also, this study incorporates rich scholarly discourse on effective regime building.

Details

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

Keywords

Article
Publication date: 23 November 2023

Iman Harymawan, Melinda Cahyaning Ratri and Eka Sari Ayuningtyas

This study aims to investigate the correlation between a CEO's business background and the readability of financial statement footnotes in Indonesia.

Abstract

Purpose

This study aims to investigate the correlation between a CEO's business background and the readability of financial statement footnotes in Indonesia.

Design/methodology/approach

This study utilizes a sample period spanning from 2010 to 2018 and employs various statistical tests, including Propensity Score Matching (PSM), Coarsened Exact Matching (CEM) and the Heckman Model, to demonstrate that it can address issues of causality and endogeneity without introducing bias.

Findings

As a result, the findings of this study indicate a statistically significant negative relationship between CEOs with busy schedules and the readability of financial statement footnotes. This suggests that companies led by busy CEOs are more likely to have financial statement footnotes that are easier to read.

Research limitations/implications

These findings hold significance for clarifying research related to the challenges of contextual analysis in financial statement footnotes, which are distributed by companies on a sentence-by-sentence basis.

Practical implications

The practical implications of the findings pertain to actionable steps that management can undertake and also offer regulators opportunities to monitor the potential for standard setting.

Originality/value

Based on the results presented, the authors are optimistic that the findings will pave the way for broader research on the impact of a busy CEO, encompassing not only financial aspects but also non-financial dimensions. The growing popularity of readability is driven by the proliferation of textual reports that pose challenges in analysis and raise numerous inquiries.

Details

Asian Review of Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1321-7348

Keywords

Article
Publication date: 9 January 2024

Stephen J. Perkins and Susan Shortland

The purpose of this viewpoint is to comment on the implications of the Financial Reporting Council’s (FRC) Review and Consultation Documents expected to update regulation…

Abstract

Purpose

The purpose of this viewpoint is to comment on the implications of the Financial Reporting Council’s (FRC) Review and Consultation Documents expected to update regulation governing the determination/reporting of executive remuneration in UK stock market listed companies. Practical points from actors involved in executive remuneration decision-making/reporting are presented, set within the context of neo-institutional theory.

Design/methodology/approach

This qualitative research systematically analyses UK Corporate Governance Codes, the FRC’s recent Review/Consultation and peer-reviewed published studies of executive pay determination based on in-depth interviews with non-executive directors, institutional investors, executive pay advisers and human resources (HR) professionals.

Findings

Further regulation, while providing coercive influence over executive remuneration decision-making, is likely to lead to only limited change in processes and reporting due to benchmarking, the make-up of Remco membership and shareholders' preferences. Mimetic and normative isomorphic forces work against coercive isomorphism leading to resistance to change as decision-makers strive to safeguard their social status/reputations.

Practical implications

Reviewing executive remuneration package components and paying attention to company strategy, sustainability and values in pay determination are welcomed but recognised as difficult to achieve. Drawing upon a wider range of information sources/voices can assist in broadening the discussion. HR professionals can help widen stakeholder input to executive remuneration decision-making.

Originality/value

The authors’ viewpoint is grounded in peer-reviewed empirical data that draws directly upon the views/experiences of executive remuneration decision-makers to identify problems in adhering to FRC recommendations for change. The authors extend the meta-theoretical perspective of neo-institutional theory – specifically institutional isomorphism – as providing explanatory and predictive power to understand executive pay decision-making.

Details

Journal of Organizational Effectiveness: People and Performance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2051-6614

Keywords

Article
Publication date: 12 October 2023

Doron Goldbarsht and Katie Benson

The legal profession is vulnerable to abuse for the purposes of money laundering and terrorist financing. According to the Financial Action Task Force (FATF), that vulnerability…

Abstract

Purpose

The legal profession is vulnerable to abuse for the purposes of money laundering and terrorist financing. According to the Financial Action Task Force (FATF), that vulnerability justified updated global recommendations that urge countries to require lawyers, notaries and other independent legal professionals – including sole practitioners, partners and employed professionals within law firms – to identify, assess and manage the money laundering and terrorist financing risks associated with their services and to ensure that they have appropriate mechanisms in place to provide risk assessment information to competent authorities. Those recommendations proved contentious, with concerns raised by both legal academics and legal professional bodies about the implications of certain aspects of the requirements for the principle of lawyer–client confidentiality. Despite those concerns, many countries have introduced or amended regulatory regimes to extend their application to the legal sector to comply with the FATF’s standards. The purpose of this paper is to contribute to the debate surrounding the extension of AML/CTF obligations to the legal profession.

Design/methodology/approach

This paper considers three jurisdictions – the UK, Israel and Australia – at different stages in their journey towards compliance with the FATF’s anti-money laundering (AML) and counter-terrorist financing (CTF) standards for the legal profession. While the UK has a long-established and well-embedded AML regulatory framework for legal professionals, Australia remains non-compliant with the FATF standards. Israel occupies a position between these two ends of the spectrum: following criticism of the omission of lawyers from its AML/CTF regime, Israel implemented due diligence rules for the profession. In 2018, Israel was found to be partially compliant with the relevant FATF recommendations.

Findings

It argues that although there are challenges involved, there are also important benefits. Therefore, Australia should act to implement its proposed changes sooner rather than later. Its persistent failure to appropriately address globally recognised areas of vulnerability leaves Australia open to integrity abuse. In addition, if the government delays addressing this issue until pressure from the FATF (such as deadlines for compliance and, if necessary, a finding of non-compliance) forces it to comply, this may tarnish Australia’s reputation, threaten its access to international financial markets and adversely affect the legitimacy and effectiveness of its AML/CTF regime.

Originality/value

Originality in this context refers to the distinctiveness and uniqueness of a paper’s content and approach. In this case, the originality lies in the fact that there is no other existing paper that addresses the topic of three common-law jurisdictions at various stages of their progression towards aligning with the FATF AML/CTF standards, specifically within the context of the legal profession. Furthermore, the timeliness of this paper is underscored by the fact that multiple jurisdictions are currently deliberating their positions on the focus of this paper. This adds to its originality and relevance, as it addresses a gap in the literature while also contributing to the ongoing discourse surrounding compliance with FATF’s standards.

Details

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

Keywords

1 – 10 of over 5000