“Captured by evils” – combating black money, corruption and money laundering in Bangladesh

2018 ◽  
Vol 21 (3) ◽  
pp. 264-289 ◽  
Author(s):  
S.M. Solaiman
Keyword(s):  
Money Laundering ◽  
National Economy ◽  
Subject Matter ◽  
Design Methodology ◽  
Social Implications ◽  
Original Research ◽  
Content Type ◽  
The Law ◽  
Practical Implications ◽  
Secondary Materials

Purpose The purpose of this paper is to demonstrate that the recurrent amnesties to black money holders (BMHs) in Bangladesh have not benefited the national economy, rather have increased corruption and money laundering, and that offering further opportunity to whiten back money as recommended by the Anti-Corruption Commission of Bangladesh will do more harm than good. Design/methodology/approach This research relies on both primary and secondary materials adopting an archival analysis of the existing literature. Findings The major findings include the following: the recurrent amnesties to BMHs have damaging impacts on corruption and money laundering in Bangladesh; the Anti-Corruption Commission of Bangladesh’s recommendation to provide further opportunity to legalise black money is flawed, ill thought-out and misjudgement of the futility of the amnesties offered to date; and the black money problem could be better addressed through using educational, preventive and punitive measures that have been specifically formulated in this paper. Research limitations/implications This research does not examine the flaws that may remain in the provisions of existing laws; rather it gives emphasis to the enforcement of the law in place. Legal flaws thus can be a subject matter of another endeavour. Practical implications As implications, it is expected that this research will encourage the concerned authorities in Bangladesh to stop offering amnesties to BMHs for good. Also, other countries facing a similar problem can learn from the experience of Bangladesh presented, and specific recommendations submitted, in this paper, in dealing with black money, corruption and money laundering. Social implications It is expected that if the recommendations furnished in this paper are implemented, corruption in, and money laundering from, Bangladesh will reduce. This reduction will facilitate ensuring fairness in the society in many respects, deter criminal activities associated with black money and enable honest taxpayers to buy their homes in a level-playing filed. Originality/value This paper presents original research in terms of analysis of materials and the recommendations submitted to deal with corruption, black money and money laundering.

Combating corruption in Nigeria and the constitutional issues arising

2016 ◽  
Vol 23 (4) ◽  
pp. 700-724 ◽  
Author(s):  
Akume T. Albert
Keyword(s):  
Analytical Method ◽  
Design Methodology ◽  
Original Work ◽  
Social Implications ◽  
Plea Bargain ◽  
Content Type ◽  
Documentary Sources ◽  
The Law ◽  
The Government ◽  
Practical Implications

Purpose The purpose of this paper therefore is to identify and examine major issue-areas in law, prominent among which are the Plea-Bargain and S308 Immunity Clause, and how they impact the process of effectively combating corruption in Nigeria. Design/methodology/approach The paper uses documentary sources and analytical method to examine the issues involved. Findings The identified issue-areas are inhibitors rather than facilitators. Research limitations/implications The implication is that the government needs to change the existing laws to strengthen the fight against corruption. Practical implications This is to ensure that the war against corruption is strengthened and effective. Social implications To ensure that offenders face the full weight of the law for their action. Originality/value This paper is the author's original work and all references are appropriately acknowledged.

The financial intelligence unit and money laundering control in Tanzania

2019 ◽  
Vol 22 (3) ◽  
pp. 543-562
Author(s):  
Eugene E. Mniwasa
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Research Approach ◽  
Institutional Reforms ◽  
Content Type ◽  
Essential Component ◽  
The Law ◽  
Financial Intelligence ◽  
Practical Implications

Purpose This paper aims to explore the role of the financial intelligence unit in Tanzania in fighting against money laundering and its predicate offences, examine its potential in controlling the problem and describe factors that undermine its efficacy. Design/methodology/approach The doctrinal research approach is used to analyse Tanzania’s anti-money laundering law and appraise its effectiveness in facilitating operations of the financial intelligence unit in fighting against money laundering and its predicate offences. The law-in-context approach is applied to interrogate the anti-money laundering law and describe non-law factors that impinge on the efficiency of Tanzania’s financial intelligence unit. Findings The law vests the financial intelligence unit with powers to perform a number of functions that are significant in fighting against money laundering and its predicate offences in Tanzania. The unit has been instrumental in curbing money laundering. The efficacy of this anti-money laundering agency, which is at its infancy stage, is emasculated by law-related, institutional and non-law factors. These factors undercut the potency of the agency. Practical implications There is a need for Tanzania to undertake policy, legislative and institutional reforms to augment the efficacy of the financial intelligence unit. The reforms should be implemented concurrently with other measures, which will enhance the country’s anti-money money laundering regime. Originality/value This paper applies the legal and non-law perspectives to evaluate the effectiveness of the financial intelligence unit as an essential component of Tanzania’s anti-money laundering regime. It proposes law-related and non-law approaches to augment the efficiency of the unit and the country’s anti-money laundering regime in general.

Benefits and challenges of BIBFRAME

2019 ◽  
Vol 37 (3) ◽  
pp. 549-565 ◽  
Author(s):  
Jung-Ran Park ◽  
Lorraine L. Richards ◽  
Andrew Brenza
Keyword(s):  
Literature Review ◽  
Design Methodology ◽  
Social Implications ◽  
Preliminary Design ◽  
Content Type ◽  
Vast Array ◽  
Library Community ◽  
Key Features ◽  
Practical Implications ◽  
Secondary Materials

Purpose The purpose of this paper is to highlight the potential strengths and weaknesses of the BIBFRAME bibliographic model and outline its purpose and key features. In addition, it discusses specific aspects of the model with respect to the pre-existing models of bibliographic description. Design/methodology/approach A review of source and secondary materials regarding BIBFRAME was undertaken, and a comparison of the conclusions derived from this literature was made to the pre-existing models of bibliographic description. Findings If the BIBFRAME Initiative can overcome what will likely be some significant challenges to the development and implementation of the model, BIBFRAME appears to be poised to become the next standard of bibliographic description and exchange for the library community. Research limitations/implications The findings and conclusions of this paper are based upon an in-depth literature review, not on theoretical or empirical derivations or examples. As a result, further research of both theoretical and empirical natures need to be developed. Practical implications BIBFRAME may well become the next standard of bibliographic description and exchange for the library community, leading to significant changes in cataloging practices over the years. Social implications To the extent that BIBFRAME can expand discovery mechanisms, the vast array of information currently available to information seekers will open up in previously unthought of ways. Originality/value This paper synthesizes a literature that was developed during a more preliminary design of the bibliographic model BIBFRAME and adds to the literature by discussing newer capabilities that have been designed into BIBFRAME 2.0.

scholarly journals Banks’ vulnerabilities to money laundering activities

2019 ◽  
Vol 23 (1) ◽  
pp. 122-135
Author(s):  
Peter Yeoh
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Banking Sector ◽  
Secondary Data ◽  
Social Implications ◽  
Primary Data ◽  
Content Type ◽  
Corporate Scandals ◽  
Effective Compliance ◽  
Practical Implications

Purpose This paper aims to provide insights as to why money laundering persists in banks and their weaknesses as gatekeepers. Design/methodology/approach This paper contextualizes the design and proliferation of anti-money laundering (AML) measures; investigates the different manners of conceptualizing them; and provides insights pertaining to probable limitations of these measures. The paper relies on primary data from statutes and secondary data from published sources. Findings The paper’s findings suggest that competitive pressures, shareholders return imperative, and lucrative misaligned incentives for management contributed to weaknesses in effective compliance in banks. Practical implications Insights drawn from this paper reinforces the notion that banks need to seriously review their business approaches, as well as their roles as gatekeepers. Social implications Given the slew of corporate scandals and other materially harmful misjudgments in money-laundering compliance, banks might need to seriously review their role and obligations in the economy. Originality/value Much has been said about money-laundering activities enabled by the banking sector. This paper contributed to insights as to why they persist despite AML rules, and what measures could be further taken to enhance compliance effectiveness.

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.

scholarly journals Unlimited and protected memory for flight data recorders

2016 ◽  
Vol 88 (6) ◽  
pp. 866-872 ◽  
Author(s):  
Yair Wiseman
Keyword(s):  
Design Methodology ◽  
Memory Device ◽  
Social Implications ◽  
Embedded Memory ◽  
Content Type ◽  
Flight Data ◽  
Embedded Device ◽  
Use Of Internet ◽  
Practical Implications

Purpose The purpose of this paper is to study extensive enlargement and safety of flight data recorder memory. Design/methodology/approach The study involves the moving the memory of flight data recorders from an internal embedded device to a cloud. Findings The implementation has made the embedded memory device of flight data recorder effectively unlimited, and, hence, much more information can be stored. Research limitations/implications The possibility of a flight data recorder to be damaged or lost in a crash is not so high, but the implementation can be very helpful in cases such as aerial disappearances. Practical implications The implication is larger and protected memory for flight data recorders. Social implications Finding reasons for crashes is faster, and immediate actions can be taken to find remedy to the failures. Originality/value The use of internet and cellphones in airplanes is nothing special at present. It is suggested to take this technology for flight data recorders as well.

Performance assessment of the complex repairable system with n-identical units under (k-out-of-n: G) scheme and copula linguistic repair approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
V. V. Singh ◽  
Abubakkar Idris Mohhammad ◽  
Kabiru Hamisu Ibrahim ◽  
Ibrahim Yusuf
Keyword(s):  
Complex System ◽  
Design Methodology ◽  
New Method ◽  
Social Implications ◽  
Repairable System ◽  
Variable Technique ◽  
Content Type ◽  
Different Types ◽  
Theoretical Assessment ◽  
Practical Implications

PurposeThis paper analyzed a complex system consisting n-identical units under a k-out-of-n: G; configuration via a new method which has not been studied by previous researchers. The computed results are more supportable for repairable system performability analysis.Design/methodology/approachIn this paper, the authors have analyzed a complex system consisting n-identical units under a k-out-of-n: G; configuration via a new method which has not been studied by previous researchers. The supplementary variable technique has employed for analyzing the performance of the system.FindingsReliability measures have been computed for different types of configuration. It generalized the results for purely series and purely parallel configurations.Research limitations/implicationsThis research may be beneficial for industrial system performances whereas a k-out-of-n-type configuration exists.Practical implicationsNot sure as it is a theoretical assessment.Social implicationsThis research may not have social implications.Originality/valueThis work is the sole work of authors that have not been communicated to any other journal before.

Sustaining corporate culture in a world of hybrid work

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Peter Buell Hirsch
Keyword(s):  
Corporate Culture ◽  
Current Literature ◽  
Design Methodology ◽  
White Collar ◽  
Subjective Assessment ◽  
Social Implications ◽  
Content Type ◽  
The Subject ◽  
The Impact ◽  
Practical Implications

Purpose This paper aims to examine the challenges to sustaining corporate culture in a world of hybrid working. Design/methodology/approach This paper is a review of current literature on the impact of remote and hybrid working on white-collar employees. Findings There is little consensus on whether remote/hybrid working will harm or strengthen corporate culture. Research limitations/implications The viewpoint is a subjective assessment of a limited number of articles on the subject Practical implications It is not entirely clear how those responsible for corporate culture can act on the findings. Social implications In a world in which corporations are experiencing a shortage of talent, how they handle corporate culture will be increasingly important. Originality/value While much has been written on the impact of remote working, this viewpoint takes the original view that strong corporate cultures rely more on the attitudes and actions of individual employees that company programs or initiatives.

The response of majority employee-owned firms during the pandemic compared to other firms

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Joseph Blasi ◽  
Douglas Kruse ◽  
Dan Weltmann
Keyword(s):  
Design Methodology ◽  
Employee Ownership ◽  
Social Implications ◽  
Firm Level ◽  
Content Type ◽  
Rutgers University ◽  
Employment Trends ◽  
The Difference ◽  
Industry Membership ◽  
Practical Implications

PurposeThe purpose of this study is to understand how majority employee-owned firms responded to the pandemic compared to firms that were not majority employee-owned. The Employee Ownership Foundation partnered with Rutgers University and the SSRS survey firm to survey ESOP and non-ESOP firms about their responses to the COVID-19 pandemic. A key purpose of the survey was to estimate firm-level changes in employment from mid-January to August (current employment figures were adjusted to August 5 using BLS industry employment trends). The survey also looked at other forms of adjustment and responses to the pandemic as reviewed below. The focus in this study is on the differences between firms that are majority owned by ESOPs and those that are not.Design/methodology/approachThe survey included 247 executives from ESOP Association member companies and 500 executives from an SSRS business panel constructed to be representative of US companies with 50 or more employees. The survey started on August 5 and ended on September 23, 2020.Findings(1) Majority ESOP firms had employment declines from January to August that were on average only one-fourth as large as for other firms. The difference is maintained when controlling for industry membership. (2) Majority ESOP firms were more likely to be declared “essential,” but the lower employment cutbacks among majority ESOP firms remain among essential and non-essential businesses. As essential businesses, majority ESOP firms were more likely receive Paycheck Protection Program or other government pandemic assistance, but both assistance recipients and non-recipients had lower employment cutbacks among majority ESOP firms. (3) The extent of employment cutbacks was higher for non-managers than for managers, but the manager/non-manager gap was higher among other firms than among majority ESOP firms.Research limitations/implicationsThis study supports empirical findings done previously.Practical implicationsThis study suggests to non-EO firms what they can do.Social implicationsThis study suggests strengths of EO firms.Originality/valueA very original and one-of-a-kind dataset.

Guest editorial: Solving problems for service consumers experiencing vulnerabilities: a marketplace challenge

2021 ◽  
Vol 35 (6) ◽  
pp. 685-691
Author(s):  
Raechel Johns ◽  
Janet Davey
Keyword(s):  
Design Methodology ◽  
Guest Editorial ◽  
Individual Characteristics ◽  
Service Systems ◽  
Social Implications ◽  
Special Issue ◽  
Actor Network ◽  
Content Type ◽  
Key Issues ◽  
Practical Implications

Purpose While there is burgeoning service literature identifying consumer vulnerabilities and questioning the assumption that all consumers have the resources to co-create, limited research addresses solutions for consumers experiencing vulnerabilities. Service systems can provide support for consumers but can also create inequities and experienced vulnerabilities. This paper aims to identify current and further research needed to explore this issue and addresses marketplace problems for consumers experiencing vulnerabilities. Design/methodology/approach This viewpoint discusses key issues relating to solving marketplace problems for consumers experiencing vulnerabilities. A call for papers focused on solving marketplace problems for consumers experiencing vulnerabilities resulted in a large number of submissions. Nine papers are included in this special issue, and each one is discussed in this editorial according to five emergent themes. Findings Vulnerabilities can be temporary, or permanent, and anyone can suddenly experience vulnerabilities. Inequities and vulnerabilities can be due to individual characteristics, environmental forces, or due to the structure of the marketplace itself. Solutions include taking a strengths-based approach to addressing inequities and using a multiple-actor network to provide support. Practical implications The recommendations addressed in this paper enable more positive approaches to solving marketplace problems for consumers experiencing vulnerabilities. Social implications Taking a solutions-focused lens to research relating to vulnerabilities will contribute toward addressing inequities within the marketplace. Originality/value Increasingly, service literature is identifying inequities; however, very limited research addresses solutions for solving marketplace problems for consumers experiencing vulnerabilities. This paper suggests taking an approach focusing on strengths, rather than weaknesses, to determine strategies, and using the support of other actors (Transformative Service Mediators) where required.

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