The dichotomisation fallacy of public and private corruption and the quantification dilemma

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ejike Ekwueme
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Empirical Test ◽  
Public And Private ◽  
Content Type ◽  
Secondary Sources ◽  
Dead End ◽  
Private And Public ◽  
Private Corruption ◽  
International Chamber Of Commerce

Purpose This paper aims to examine the concept of corruption and dirty money. Corruption is amorphous and lacks a congruent definition. It is mainly divided into public and private corruption. This divide, is unnecessary, given the fact that both cause incalculable damage to the markets and lager society. Globalisation has necessitated liberalisation and resulted in amalgamating both public and private ventures. This, as a result, has made it more difficult to stick to this. Pronouncements from International Chamber of Commerce (ICC) and the Law Commission’s attitude not to segregate between private and public bribery prior to the legislation of United Kingdom Bribery Act 2010, has added greater impetus to the debate. Attempts to quantify the amount of corruption and money laundering, has equally, hit a dead end. The figures being bandied about are all estimates or “guesstimates” that cannot stand the empirical test. As a result, the conjectures have strong potentials to continue for a longer time. The purpose of this paper is to bring to the fore the need to jettison the long-held perception that public and private corruption should be seen in different lights. Design/methodology/approach This paper relies substantially on both primary and secondary sources in the analysis. Findings Indicatively, the facts tilt towards the conclusion that it is impossible to actually ascertain the quantifiable amount of money that is involved in corruption and the money laundering process. It is an illusion. Originality/value The paper provides the platform that the time is ripe for both public and private corruption to be seen as the same thing, as they both unleash catastrophic consequences on society. The issues of globalisation and liberalisation make this inevitable.

Understanding the differences of public and private self-service technology

2014 ◽  
Vol 28 (1) ◽  
pp. 60-70 ◽  
Author(s):  
Joel E. Collier ◽  
Daniel L. Sherrell ◽  
Emin Babakus ◽  
Alisha Blakeney Horky
Keyword(s):  
Structural Equation ◽  
Design Methodology ◽  
Equation Modeling ◽  
Public And Private ◽  
Content Type ◽  
Private And Public ◽  
Self Service ◽  
Self Service Technology ◽  
Individual Self ◽  
Practical Implications

Purpose – The purpose of this paper is to explore the potential differences between types of self-service technology. Specifically, the paper explores how the dynamics of public and private self-service technology influence customers' decision to use the technology. Design/methodology/approach – Existing customers of private and public self-service technology were surveyed from the same industry. Using structural equation modeling, the authors examine how relevant self-service constructs influence evaluations and attitudes of customers across both settings. Findings – The analysis reveals that customers' control and convenience perceptions differ across public and private self-service technology. Additionally, customers placed a heavier emphasis on the hedonic or utilitarian evaluation of a service experience based on the type of self-service technology. Practical implications – For managers of self-service applications, understanding the unique differences of public and private self-service technology can aid in the implementation and adoption of the technology. By properly understanding the differences of the self-service types, managers can provide a beneficial experience to the customer. Originality/value – By identifying and describing two distinct categories of SSTs, this study allows managers and researchers to better understand how and why individuals choose to utilize individual self-service technologies. Through understanding the unique dynamics of a public and a private SST experience, retailers can determine the appropriate strategy for customer adoption based on the utilitarian or hedonic functions of the technology.

Is Jamaica’s anti-money laundering regime effective?

2019 ◽  
Vol 22 (1) ◽  
pp. 89-96 ◽  
Author(s):  
Marie Freckleton
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Effective Control ◽  
Content Type ◽  
The Real Estate ◽  
Social Instability ◽  
Secondary Sources ◽  
Real Estate Sector ◽  
Measures Of Effectiveness ◽  
Practical Implications

Purpose This paper aims to assess the effectiveness of Jamaica’s anti-money laundering regime. Design/methodology/approach The research is based on secondary sources. Existing laws and reports of relevant agencies were reviewed. Findings The effectiveness of Jamaica’s anti- money laundering regime is compromised by weak implementation of the regulations. The real estate sector and the legal profession remain vulnerable to money laundering. Some features of the economy allow criminals to circumvent the regulations. Research limitations/implications The research is based on qualitative analysis because of the absence of data to compute quantitative measures of effectiveness. Practical implications Strong enforcement is required for effective control of money laundering. Furthermore, investigation of money laundering needs to be pro-active and not dependent solely on suspicious transactions reports in countries where corruption is prevalent. Social implications Weak money laundering control can contribute to social instability by allowing criminals to gain significant economic power and influence. Originality/value No other study has highlighted the factors undermining the effectiveness of anti-money laundering regulations in Jamaica.

Spain: financial ownership file and money laundering prevention

2016 ◽  
Vol 19 (3) ◽  
pp. 238-248 ◽  
Author(s):  
Alberto Gil Soriano
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Personal Data ◽  
Data File ◽  
Comprehensive Analysis ◽  
Sources Of Information ◽  
Royal Decree ◽  
Content Type ◽  
Secondary Sources ◽  
Access Rights

Purpose This paper aims to analyse the legal configuration of the Spanish financial ownership file and identifies its main legal shortcomings and its necessity and proportionality. Design/methodology/approach The primary and secondary sources of information on which this paper is based are statutes and reports issued by Spanish consultative bodies, respectively. Article 43 of Act 10/2010 of 28 April on the prevention of money laundering and terrorist financing created the “financial ownership file”, a publicly owned personal data file containing information on the opening and cancellation of all types of financial accounts. The recently enacted Royal Decree 304/2014 of 5 May approving the Regulations of Act 10/2010 contains further guidance. Findings The objective of the financial ownership file is laudable, but the way it has been configured creates new obligations that it could be argued are unnecessary as there are already mechanisms in place to obtain the information in question. The recently enacted regulations raise concerns to the author about access rights, data protection and monitoring, among other aspects. Originality/value This paper provides a comprehensive analysis of the Spanish financial ownership file, a topic not yet explored in great detail, and could be useful for other legislatures intending to implement similar systems in their countries.

Query processing over secure perturbed data over hybrid cloud

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sridhar Reddy Vulapula ◽  
Srinivas Malladi
Keyword(s):  
Design Methodology ◽  
Hybrid Cloud ◽  
Public Cloud ◽  
Private Cloud ◽  
Sensitive Data ◽  
Public And Private ◽  
Content Type ◽  
Hybrid Clouds ◽  
Efficient Retrieval ◽  
Private And Public

PurposeHybrid cloud composing of public and private cloud is seen as a solution for storage of health care data characterized by many private and sensitive data. In many hybrid cloud-based solutions, the data are perturbed and kept in public cloud, and the perturbation credentials are kept in private cloud.Design/methodology/approachHybrid cloud is a model combing private and public cloud. Security for the data is enforced using this distribution in hybrid clouds. However, these mechanisms are not efficient for range query and retrieval of data from cloud. In this work, a secure and efficient retrieval solution combining K-mean clustering, geometric perturbation and R-Tree indexing is proposed for hybrid clouds.FindingsCompared to existing solution, the proposed indexing on perturbed data is able to achieve 33% reduced retrieval time. The security of indexes as measured using variance of differences was 66% more than existing solutions.Originality/valueThis study is an attempt for efficient retrieval of data with range queries using R-Tree indexing approach.

Rwanda

2016 ◽  
Vol 19 (1) ◽  
pp. 21-31 ◽  
Author(s):  
Francis Dusabe
Keyword(s):  
South African ◽  
Money Laundering ◽  
Design Methodology ◽  
Economic Structure ◽  
Legal Regime ◽  
Political Will ◽  
Content Type ◽  
Secondary Sources ◽  
Development Policies ◽  
Laws And Policies

Purpose – This paper aims to assess the extent to which Rwanda is prepared to deal with the menace of money laundering, a threat that may well stunt its ambitions to build a strong economy. Design/methodology/approach – This paper used desktop research based on primary and secondary sources. It is based on a review of relevant conventions laws and policies constituting the anti-money laundering legal regime. Findings – Rwanda’s responses are not strong enough to curb the ever growing risk of money laundering. Rwandan economic structure may easily accommodate launderers, given the development policies relating to investments positive political will may help to pre-empt the increase in the crime. Originality/value – Neither academic, editorial or any work whatsoever have been conducted regarding Money Laundering in Rwanda nor has the prosecution ever submitted a case in the courts at least to pave the prosecutorial strategy in the cases of money laundering. This work is of its own and has been reviewed by well-known professors in the domain, namely, Prof Lovell Fernandez, the Director of South African Germany Center for Transnational Criminal Justice.

The unexplained wealth order: a boost for Trinidad and Tobago’s fight against money laundering?

2020 ◽  
Vol 23 (2) ◽  
pp. 509-513
Author(s):  
Marie Freckleton
Keyword(s):  
Trinidad And Tobago ◽  
Money Laundering ◽  
Design Methodology ◽  
Effective Control ◽  
Content Type ◽  
Secondary Sources ◽  
Effective Implementation ◽  
Asset Recovery ◽  
Proceeds Of Crime ◽  
Practical Implications

Purpose This paper aims to explain the reasons for the introduction of unexplained wealth orders (UWOs) in Trinidad and Tobago and highlights potential obstacles to implementation. Design/methodology/approach The research is based on secondary sources. The Civil Asset Recovery and management and Unexplained Wealth Act (CARAMAUWA) (2019) and relevant reports were reviewed. Findings The CARAMAUWA provides two potentially powerful tools to confiscate the proceeds of crime. However, the UWOs have greater potential. Effective implementation will require adequate human and financial resources, as well as measures to reduce corruption. Research limitations/implications The CARAMAUWA became operational on 14 June 2019 so it was not possible to assess actual implementation. Practical implications UWO is a useful tool for controlling money laundering. Social implications Effective control of money laundering can reduce crime. Originality/value No other study has examined the reasons for the introduction of the UWO in Trinidad and Tobago and the potential challenges to implementation.

FINRA’s disciplinary actions in 2017: increased restitution ordered with minimal changes in number of cases

2018 ◽  
Vol 19 (2) ◽  
pp. 19-23
Author(s):  
Brian Rubin ◽  
Adam Pollet
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Disciplinary Actions ◽  
Financial Industry ◽  
Electronic Communications ◽  
Content Type ◽  
The Past ◽  
Expert Analysis ◽  
Research Analysts ◽  
Practical Implications

Purpose The purpose of this paper is to analyze the Financial Industry Regulatory Authority’s (FINRA) 2017 disciplinary actions, the issues that resulted in the most significant fines and restitution and the emerging enforcement trends from 2017 and beyond. Design/methodology/approach The approach of this paper discusses the disciplinary actions in 2017 and prior years, details the top 2017 enforcement issues measured by total fines assessed, including anti-money laundering, trade reporting, electronic communications, books and records, research analysts and research reports, and explains current enforcement trends, including restitution, suitability cases and technological issues. Findings In 2017, restitution more than doubled from the prior year, resulting in the fourth highest total sanctions (fines combined with restitution and disgorgement) assessed by FINRA over the past 10 years. Practical implications Firms and their representatives should heed the trends in both the substantial restitution FINRA is ordering and the related enforcement issues in the cases FINRA has brought. Originality/value This paper provides expert analysis and guidance from experienced securities enforcement lawyers.

Outsourcing in startups

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Fernanda Kalil Steinbruch ◽  
Bernardo Soares Fernandes ◽  
Leandro da Silva Nascimento ◽  
Paulo Antônio Zawislak
Keyword(s):  
Design Methodology ◽  
Development Stage ◽  
Attractive Alternative ◽  
Content Type ◽  
Core Business ◽  
Secondary Sources ◽  
The Core ◽  
Management Literature ◽  
Structure Knowledge

Purpose The purpose of this paper is to identify the main activities that startups outsource and the elements involved in outsourcing decisions. Design/methodology/approach A multi-case study composed of Brazilian startups was conducted. Data through interviews and secondary sources were obtained. Two groups of startups were considered and analyzed comparatively: startups in the development stage and in the sales stage. Findings The findings show that even though the literature suggests that the core business should not be outsourced, some startups do have to outsource this kind of activity. That was the main difference found between startups in the sales stage and in the development stage: the former group has a solid structure, knowledge and resources, so they can keep the core business inside the firm; whereas the latter group has little experience, scarce knowledge and resources, making outsourcing a more attractive alternative. Originality/value Theoretically, this paper approaches a perspective underexplored in the innovation and management literature: outsourcing in startups. It highlights how outsourcing, as a decision between making and buying, can help startups to improve success potential. In practice, this paper discusses and demonstrates why and what can be outsourced by startups in the development and in the sales stages to overcome their limitations and, consequently, achieve better innovative results.

Differences of perception between private and public officers in an organizing committee concerning stakeholders of an international sporting event

2019 ◽  
Vol 20 (1) ◽  
pp. 127-142
Author(s):  
Taeyeon Oh ◽  
Jihyeon Oh ◽  
Junhee Kim ◽  
Kisung Dennis Kwon
Keyword(s):  
Central Government ◽  
Olympic Games ◽  
Stakeholder Analysis ◽  
Sporting Events ◽  
Public And Private ◽  
Content Type ◽  
Sporting Event ◽  
Private And Public ◽  
Winter Olympic Games ◽  
Research Questions

PurposeThe purpose of this paper is to investigate the perception of public and private officers of stakeholder at the PyeongChang Winter Olympic Games 2018. This event was selected as the subject of this research as it is the most recent mega-scale international sporting event and, given that the organizing committee (OC) is currently operating, it afforded a unique opportunity to investigate the staff of the organization. To clarify the research questions, this research identified stakeholders of Olympic Games.Design/methodology/approachThe research questions were examined by a stakeholder analysis that measured and compared perceptions conducted according to the stakeholder theory (Freeman, 2010) and previous research (Naraine et al., 2016).FindingsThis study identifies eight stakeholders of the 2018 Winter Olympic Games: the OC, the International Olympics Committee, National Olympic Committee, central government, local government, media, sponsors and non-government organizations. The authors pointed out that public officers are more sensitive to the opinions and movements of community members than private staff. Conversely, the authors found that the private staffs regard the media and influential stakeholders as more important compared with public officers.Originality/valueBased on the findings from the Olympics committee, this study contributes to the academic literature related to sporting events and their stakeholders by providing the most up-to-date identification of stakeholders.

South Pacific transnational money laundering typologies

2017 ◽  
Vol 20 (4) ◽  
pp. 345-353 ◽  
Author(s):  
John Chelliah ◽  
Anita Prasad
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Academic Research ◽  
South Pacific ◽  
Pacific Island ◽  
Policy Makers ◽  
Content Type ◽  
Extant Literature ◽  
South Pacific Island ◽  
Pacific Island Nations

Purpose The paper aims to present typologies of transnational money laundering in South Pacific island countries, thereby filling a gap in the extant literature. Design/methodology/approach This paper is based on seven significant transnational money laundering cases involving South Pacific island nations. It provides analyses of the modus operandi of criminals and classifies those according to typologies from anti-money laundering authorities and bodies. Findings Typologies of money laundering have arrived through a content analysis of seven cases involving transnational money laundering destined for South Pacific island nations. The typologies which have emerged show the predominant forms of transnational money laundering in this region. This knowledge could be useful to government policy-makers and financial institutions pursuing anti-money laundering initiatives. Originality/value There is a dearth of academic research into typologies of transnational money laundering involving the South Pacific. This paper makes a useful contribution to the extant literature by providing the most recent typologies in this respect.

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