Money laundering in Ukraine

2015 ◽  
Vol 18 (3) ◽  
pp. 382-394 ◽  
Author(s):  
Graham Stack
Keyword(s):  
Open Source ◽  
Money Laundering ◽  
Tax Evasion ◽  
International Political Economy ◽  
Foreign Banks ◽  
Financial Flows ◽  
Content Type ◽  
Soviet State ◽  
Open Source Data ◽  
Source Data

Purpose – This paper aims to examine the role in tax evasion and corruption played in Ukraine by money-laundering organisations called “conversion centres”: networks of sham firms and banks implementing “black cash” schemes that facilitate tax evasion by the private sector and embezzlement by the state sector. The paper describes their embedding both in a post-Soviet state as well as in the international political economy. Design/methodology/approach – It draws on scholarship, journalist investigations, court records, government agency reports and other open source data and interviews with market participants. It first describes “conversion centres” as an ideal type and then presents three case studies, focusing on international financial flows and the domestic political setting. Findings – Ukraine’s conversion centres generate significant international flows of dirty money handled by specialised foreign banks mostly in the Baltic states. Domestically, conversion centres thrive through state capture, resulting from their facilitation of embezzlement by state actors. Research limitations/implications – Open source data and investigative methods make it possible to conduct empirical research in crime and corruption in the post-Soviet context. As open sources expand, the scope for such enquiry will increase. Originality/value – This is the first empirical description of “black cash” money-laundering platforms in terms of embedding in a post-Soviet state and in the international financial system.

Addressing illicit financial flows in Africa

2016 ◽  
Vol 23 (4) ◽  
pp. 1074-1091 ◽  
Author(s):  
Bernd Otto Schlenther
Keyword(s):  
Money Laundering ◽  
Tax Evasion ◽  
Tax Avoidance ◽  
Medium Term ◽  
Profit Shifting ◽  
Financial Flows ◽  
Content Type ◽  
Priority Areas ◽  
Long Run ◽  
Illicit Financial Flows

Purpose This paper aims to identify the underlying key components of illicit financial flows (IFFs) and highlights the priority areas where government resources should be pooled under a whole of government approach to mitigate the risks posed by IFFs. These areas are tax avoidance and tax evasion (specifically intra-company profit shifting, investment and profit shifting within the extractive sector, fraud and beneficial ownership), anti-corruption measures, governance and accountability measures, anti-money laundering effectiveness and effectiveness in the detection of falsified customs declarations. Design/methodology/approach The concept of IFFs is emerging as an umbrella term for bringing together seemingly disconnected issues. The concept is ill-defined, but there are various identifiable components supporting the term IFF such as capital flight, corruption, money laundering, tax avoidance, tax havens and transfer pricing practices. The author identifies the key areas of concern through a literature review and recommends prioritization of short- to medium-term risk areas and long-term policy imperatives. Findings In the short- to medium-term, an effective “whole-of-government” approach should be based on uniform risk identification and prioritization between mandated government agencies and in the long run, it should be focused on building responsive and effective institutions through a process of good governance and effective taxation. Originality/value A large body of literature deals with “IFFs” and the “whole-of-government approach” as separate concepts. This paper draws on the existing literature and identifies priority areas for addressing IFFs, and, for these to be successful, they are entirely dependent on a whole-of-government approach – both in the short and long run.

International regulation of virtual assets under FATF’s new standards

2020 ◽  
Vol 21 (1) ◽  
pp. 1-8
Author(s):  
Georgios Pavlidis
Keyword(s):  
Money Laundering ◽  
Task Force ◽  
National Level ◽  
International Regulation ◽  
Content Type ◽  
Effective Implementation ◽  
Regulation And Supervision ◽  
Open Source Data ◽  
Source Data ◽  
Financial Action Task

Purpose To critically examine two significant developments for the regulation and supervision of virtual assets and virtual assets services providers: the amendment of the Financial Action Task Force (FATF) Recommendation No 15 in October 2018 and the adoption of an Interpretative Note in June 2019. We argue that new FATF standards constitute an appropriate response to money laundering and terrorist financing risks associated with virtual assets, but that they must be followed by firm, consistent and effective implementation at the national level. Design/methodology/approach This paper draws on reports, legislation, legal scholarship and other open source data in order to examine the new FATF standards on virtual assets. Findings The amendment of the FATF Recommendation No 15 in October 2018 and the adoption of an Interpretative Note in June 2019 have been necessary and opportune to forge a global approach to mitigate money laundering risks associated with crypto-assets. The new FATF standards on crypto-asset activities need to be implemented firmly, effectively and consistency to reduce the risk of jurisdiction-shopping by money launderers and terrorism financiers. Originality/value This is one of the first studies examining two important and recent FATF initiatives, the amendment of the FATF Recommendation No 15 in October 2018 and the adoption of an Interpretative Note in June 2019.

Analyzing industry stakeholders using open-source competitive intelligence – a case study in the automotive supply industry

2020 ◽  
Vol 33 (3) ◽  
pp. 579-599
Author(s):  
Corinna Juliane Lutz ◽  
Freimut Bodendorf
Keyword(s):  
Open Source ◽  
Qualitative Data ◽  
Competitive Intelligence ◽  
Content Type ◽  
Open Source Data ◽  
Source Data ◽  
Supply Industry ◽  
Automotive Supply Industry ◽  
Automotive Supply

PurposeContinually evolving market structures characterized by high competition and simultaneous coopetition raise the need for the awareness of strategic actions of industry stakeholders and therefore the field of competitive intelligence (CI). Hence, this paper aims to provide a case-based method to enrich and automate the entire CI cycle using open-source data to analyze the industry environment.Design/methodology/approachThe research method is based on design science research and accompanied by a three-year continuous in-depth case study in the automotive supply industry using unstructured, qualitative data to examine the activities of 25 industry stakeholders.FindingsThis paper provides a new holistic method for gaining valuable insights for decision-makers presented through a multiple-layer perspective of the industry development including structural transformation and strategic alignments in functional and cross-sectional areas of the stakeholders.Research limitations/implicationsThe development of a holistic approach using open-source data combines the knowledge-based view and industry economics and allows easy transferability to any other industry.Practical implicationsThe proposed method shows an increase in knowledge for managers to support daily work as well as strategic decision-making. Furthermore, it is proven that even unexperienced CI analysts are empowered to deliver high-quality results.Originality/valueThe paper contributes to the literature and practice of CI by using an approach, which uses unstructured, qualitative data to enrich the entire CI cycle in a business-to-business environment. The case description confirms performance and time improvements of the method and shows the potential of the created insights.

Using Open-Source Data in Correlative Species Distribution Modeling of Marine Species

2018 ◽  
Vol 80 (6) ◽  
pp. 457-461
Author(s):  
Carlos A. Morales-Ramirez ◽  
Pearlyn Y. Pang
Keyword(s):  
Open Source ◽  
Species Distribution ◽  
Open Source Software ◽  
Species Distribution Modeling ◽  
Science Research ◽  
Marine Species ◽  
Distribution Modeling ◽  
Open Source Data ◽  
Rapid Changes ◽  
Source Data

Open-source data are information provided free online. It is gaining popularity in science research, especially for modeling species distribution. MaxEnt is an open-source software that models using presence-only data and environmental variables. These variables can also be found online and are generally free. Using all of these open-source data and tools makes species distribution modeling (SDM) more accessible. With the rapid changes our planet is undergoing, SDM helps understand future habitat suitability for species. Due to increasing interest in biogeographic research, SDM has increased for marine species, which were previously not commonly found in this modeling. Here we provide examples of where to obtain the data and how the modeling can be performed and taught.

Tax evasion and money laundering: a complete framework

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Deen Kemsley ◽  
Sean A. Kemsley ◽  
Frank T. Morgan
Keyword(s):  
Money Laundering ◽  
Tax Evasion ◽  
Task Force ◽  
Regulatory Agencies ◽  
Content Type ◽  
Single Process ◽  
Financial Action Task ◽  
Tax Savings ◽  
Practical Implications ◽  
Complete Framework

Purpose This paper aims to define the fundamental nexus between income tax evasion and money laundering. The G7 Financial Action Task Force (FATF) designates tax evasion as a predicate offense for money laundering. We determine whether this designation is complete from a conceptual standpoint, or whether there is a stronger connection between tax evasion and money laundering. Design/methodology/approach This paper applies the FATF definition for money laundering – as well as generally accepted definitions for tax evasion and for a standard predicate offense – to identify the necessary conditions for each crime. This paper then uses these conditions to test opposing hypotheses regarding the nexus between tax evasion and money laundering. Findings This paper demonstrates that tax evasion does not meet the conditions for a standard predicate offense, and treating it as if it were a standard predicate could be problematic in practice. Instead, it is concluded that the FATF’s predicate label for tax evasion, together with tax evasion methods and objectives, imply that all tax evasion constitutes money laundering. In a single process, tax evasion generates both criminal tax savings and launders those criminal proceeds by concealing or disguising their unlawful origin. Practical implications The FATF could strengthen its framework by explicitly defining all tax evasion as money laundering. This would enable regulatory agencies to draw upon the full combined resources dedicated to either offense. Originality/value The analysis demonstrates that tax evasion completely incorporates money laundering as currently defined by the FATF.

Modelling urban energy requirements using open source data and models

2018 ◽  
Vol 231 ◽  
pp. 1100-1108 ◽  
Author(s):  
Alaa Alhamwi ◽  
Wided Medjroubi ◽  
Thomas Vogt ◽  
Carsten Agert
Keyword(s):  
Open Source ◽  
Energy Requirements ◽  
Open Source Data ◽  
Source Data ◽  
Urban Energy
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