Tracking digital footprints: anonymity within the bitcoin system

2017 ◽  
Vol 20 (2) ◽  
pp. 172-189 ◽  
Author(s):  
Perri Reynolds ◽  
Angela S.M. Irwin
Keyword(s):  
Law Enforcement ◽  
Real Life ◽  
Virtual Currency ◽  
Content Type ◽  
External Sources ◽  
Individual Actor ◽  
Types Of Information ◽  
Security Standards ◽  
Customer Due Diligence ◽  
Digital Footprints

Purpose The purpose of this paper is to critically analyse research surrounding the anonymity of online transactions using Bitcoin and report on the feasibility of law enforcement bodies tracing illicit transactions back to a user’s real-life identity. Design/methodology/approach The design of this paper follows on from the approach taken by Reid and Harrigan (2013) in determining whether identifying information may be collated with external sources of data to identify individual users. In addition to conducting a detailed literature review surrounding the anonymity of users, and the potential ability to track transactions through the blockchain, four Bitcoin exchange services are examined to ascertain whether information provided at the sign-up stage is sufficiently verified and reliable. By doing so, this research tests the ability for law enforcement to reasonably rely upon this information when attempting to prosecute individuals. Additionally, by submitting fake information for verification, the plausibility of these services accepting fraudulent or illegitimate information is also tested. Findings It may be possible to identify and prosecute bad actors through the analysis of transaction histories by tracing them back to an interaction with a Bitcoin exchange. However, the compliance and implementation of anti-money laundering legislation and customer identification security standards are insufficiently used within some exchange services, resulting in more technologically adept, or well-funded, criminals being able to circumvent identification controls and continue to transact without revealing their identities. The introduction of and compliance with know-your customer and customer due diligence legislation is required before law enforcement bodies may be able to accurately rely on information provided to a Bitcoin exchange. This paper highlights the need for research to be undertaken to examine the ways in which criminals are circumventing identity controls and, consequently, financing their illicit activities. Originality/value By ascertaining the types of information submitted by users when exchanging real currency for virtual currency, and seeing whether this information may be accepted despite being fraudulent in nature, this paper elucidates the reliability of information that law enforcement bodies may be able to access when tracing transactions back to an individual actor.

Ecosystem-based disaster risk reduction concept for forest and land fire disaster

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Philein Hafidz Al Kautsar ◽  
Nur Budi Mulyono
Keyword(s):  
Law Enforcement ◽  
Disaster Management ◽  
Real Life ◽  
Structured Interview ◽  
Technical Problems ◽  
Content Type ◽  
Economic Problems ◽  
Technology And Innovation ◽  
Management Of Technology ◽  
Management Context

PurposeThe purpose of this study is to develop an ecosystem-based DRR concept and explore how far the concept can be applied in a disaster-management context.Design/methodology/approachThe authors used the ecosystem concept established by Tsujimoto et al. (2018) as the foundation of this study. They then conducted a literature search to adapt the ecosystem concept to fit the context of disaster management. Thus, they developed an ecosystem-based DRR concept. They used a case study method to test whether the adapted ecosystem concept can be applied to examine a real-life case of disaster management. For data collection, they used qualitative methods; a semi-structured interview with practitioners and other actors involved in disaster-management practice as well as document review. For data analysis, they used thematic analysis to find themes within the data.FindingsBy using this concept, the authors found some actors fulfil their role in the ecosystem toward the DRR effort, some actors are ill-equipped, and some actors are actively working against DRR effort. There are also implementation challenges, as numerous programs are only halfway done due to a lack of resources. However, the main problems of this disaster can be summarized into three categories: technical problems, socio-economic problems and law-enforcement problems. All three problems need to be addressed altogether because even neglecting only one problem would lead to a flawed solution.Research limitations/implicationsOne of the limitations is the respondents' bias. This research aims to find out their part, or more accurately what they are representative of, regarding disaster management for forest and land fire case. As some of the questions may reveal unflattering action or may even hurting their credibility, respondents might not have provided an entirely honest answer. Another limitation is the differing respondents' roles within the disaster. As each of the respondents is a representative of an actor in disaster management, they all have different traits. Thus, this situation makes it challenging to produce similar quality and quantity data for each of them.Practical implicationsAs concluded, the ecosystem-based DRR concept can be used as a framework to examine a real-life case of disaster management. It can be utilized to explain roles, relationships and the whole network of disaster-management actors. The authors hope that this concept could help decision-makers in designing their policies.Social implicationsThe main problems of this disaster can be summarized into three categories: technical problems, socio-economic problems and law-enforcement problems. All three problems need to be addressed altogether for even neglecting only one problem would lead to a flawed solution. However, the yearly reoccurrences of fires and the widespread of illegal and dangerous practice, slash and burn agriculture, are evidence that the government mishandles the other two problems. There is a need for reform within legal institutions and government's treatment regarding local farmers. There is a need for trust, cooperation and synergy between disaster-management actors.Originality/valueThe ecosystem concept has been used widely in the field of management of technology and innovation. However, while ecosystem concept is commonly used in the management of technology and innovation, it is rarely used in a disaster-management context.

Money laundering using investment companies

2015 ◽  
Vol 18 (4) ◽  
pp. 438-446 ◽  
Author(s):  
Mohammed Ahmad Naheem
Keyword(s):  
Money Laundering ◽  
Empirical Model ◽  
Information Overload ◽  
Assessment Model ◽  
Content Type ◽  
Empirical Risk ◽  
Beneficial Ownership ◽  
Red Flag ◽  
Types Of Information ◽  
Customer Due Diligence

Purpose – This paper aims to start with the assumption that money laundering through the use of investments will continue to occur and will become increasingly more complex to try and avoid detection. The paper aims to explore some of the theoretical factors that would need to be considered in any risk based framework and also to consider how an empirical model can try and prioritise the information and intelligence gathered through existing beneficial ownership and customer due diligence (CDD) systems. Design/methodology/approach – This paper uses an empirical example of money laundering with investments and highlights the red flag indicators that led to its eventual discovery. The theoretical framework considers the difficulties of information overload and suggests that any empirical model of risk-based assessment would need to be able to discern between the various types of risk information gathered. The paper has developed one empirical model that could be used. Findings – The paper suggests a model that breaks down beneficial ownership and CDD information into three areas: beneficial ownership for all major players, transparency of transactions and accountability of companies involved. Practical implications – The paper has implications for the banking, regulatory and law enforcement sectors working in Anti-Money Laundering (AML). Originality/value – The paper analyses a particular type of money laundering activity which it terms “investment laundering” using an empirical case study. It then develops a new theoretical and empirical risk assessment model to illustrate how risk-based approaches need to be able to discern between the different types of information gathered and the application to overall risk.

Recent key Bitcoin and virtual currency regulatory and law enforcement developments

2015 ◽  
Vol 16 (1) ◽  
pp. 13-18 ◽  
Author(s):  
Evan L. Greebel ◽  
Kathleen Moriarty ◽  
Claudia Callaway ◽  
Gregory Xethalis
Keyword(s):  
New York ◽  
Law Enforcement ◽  
Financial Services ◽  
New York State ◽  
Securities And Exchange Commission ◽  
Regulatory Regime ◽  
York State Department ◽  
Virtual Currency ◽  
Content Type ◽  
Commodity Futures Trading Commission

Purpose – To explain and draw conclusions from six recent bitcoin and virtual currency regulatory and law enforcement developments. Design/methodology/approach – Discusses and draws conclusions from six recent, important developments: two administrative rulings from the Financial Crimes Enforcement Network (FinCEN), recent remarks by New York State Department of Financial Services Superintendent Benjamin Lawsky, remarks by Mark Wetjen of the Commodity Futures Trading Commission (CFTC), a recent Securities and Exchange Commission (SEC) informational sweep of crowdsales of crypto-equity, and the US Department of Justice proceedings against Trendon Shavers. Findings – Rather than trying to stifle or control virtual currencies, US governmental entities recognize the long-term value of virtual currencies and are trying to create a regulatory regime to foster growth and development, and an atmosphere where institutional and retail investors are protected. Originality/value – Provides an overview of the key United States regulatory issues facing companies engaged in Bitcoin-related businesses.

Virtual currencies as a quasi-payment tool: the case of frequent-flier programs and money laundering

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Doron Goldbarsht
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
Loyalty Programs ◽  
Global Network ◽  
Virtual Currency ◽  
Content Type ◽  
Starting Point ◽  
Three Stages ◽  
Financial Transactions ◽  
Practical Implications

Purpose The purpose of this paper is to explore the various characteristics of frequent-flier programs and the threats they pose to the Australian anti-money laundering regime. Design/methodology/approach A thorough literature review was conducted on frequent-flier programs and the associated money-laundering threats. Money laundering (ML) risks were identified in relation to the three stages of ML and effective law enforcement. Findings The findings indicate that as ML continues to gravitate towards the weaknesses in the financial system, frequent-flier programs provide yet another avenue for criminals to exploit. The risk factors associated with frequent-flier programs – specifically, anonymity, elusiveness, the rapidity of transactions occurring in a digital environment, ambiguity regarding responsibility for compliance, the global network of participants and members, difficulty in accessing records and an overall lack of oversight – were all integral considerations in establishing the ML risks of such programs. Practical implications The global environment in which individuals conduct financial transactions continues to evolve rapidly, exacerbating ML risks for regulators and governments alike. Unless there are globally unified efforts to heighten awareness, the threats posed by virtual currency will increase at a rapid rate. With this in mind, the starting point of this paper is an attempt to analyse the ML risks pursuant to frequent-flier programs in Australia. Originality/value The findings from this study can be used to gain greater insights into frequent-flier programs and can have broader application for evaluating other similarly structured loyalty programs, both in Australia and globally. Additionally, the findings from the study can enhance overall awareness of the ever-increasing threat to global financial integrity through the expansion of virtual currency.

Money laundering through raw diamonds

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Fabian Maximilian Johannes Teichmann ◽  
Marie-Christin Falker
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
Qualitative Content Analysis ◽  
Law Enforcement Agencies ◽  
Content Type ◽  
Compliance Officers ◽  
German Speaking ◽  
Three Stages ◽  
Practical Implications ◽  
Combat Money Laundering

Purpose This paper aims to illustrate how illegally obtained funds are laundered through raw diamonds in Austria, Germany, Liechtenstein and Switzerland. Design/methodology/approach To identify specific money laundering techniques involving raw diamonds, this study used a qualitative content analysis of data collected from 60 semi-standardized interviews with both criminals and prevention experts and a quantitative survey of 200 compliance officers. Findings Raw diamonds are extraordinarily suitable for money laundering in European German-speaking countries. In particular, they may be used in all three stages of the laundering process, namely, placement, layering and integration. Research limitations/implications Because the qualitative findings are based on semi-standardized interviews, their insights are limited to the perspectives of the 60 interviewees. Practical implications Identifying gaps in existing anti-money laundering mechanisms should provide compliance officers, law enforcement agencies and legislators with valuable insights into how criminals operate. Originality/value While prior studies focus on the methods used by organizations to combat money laundering and how to improve anti-money laundering measures, this paper investigates how money launderers operate to avoid detection, thereby illustrating authentic experiences. Its findings provide valuable insights into the minds of money launderers and combines criminal perspective with that of prevention experts.

scholarly journals Characterization of Airborne Bacteria at an Underground Subway Station

2012 ◽  
Vol 78 (6) ◽  
pp. 1917-1929 ◽  
Author(s):  
Marius Dybwad ◽  
Per Einar Granum ◽  
Per Bruheim ◽  
Janet Martha Blatny
Keyword(s):  
Real Life ◽  
Performance Criteria ◽  
Anthropogenic Sources ◽  
Subway Station ◽  
Airborne Bacteria ◽  
Surveillance Systems ◽  
Operational Environment ◽  
Biological Detection ◽  
Content Type ◽  
Subway Stations

ABSTRACTThe reliable detection of airborne biological threat agents depends on several factors, including the performance criteria of the detector and its operational environment. One step in improving the detector's performance is to increase our knowledge of the biological aerosol background in potential operational environments. Subway stations are enclosed public environments, which may be regarded as potential targets for incidents involving biological threat agents. In this study, the airborne bacterial community at a subway station in Norway was characterized (concentration level, diversity, and virulence- and survival-associated properties). In addition, a SASS 3100 high-volume air sampler and a matrix-assisted laser desorption ionization–time of flight mass spectrometry-based isolate screening procedure was used for these studies. The daytime level of airborne bacteria at the station was higher than the nighttime and outdoor levels, and the relative bacterial spore number was higher in outdoor air than at the station. The bacterial content, particle concentration, and size distribution were stable within each environment throughout the study (May to September 2010). The majority of the airborne bacteria belonged to the generaBacillus,Micrococcus, andStaphylococcus, but a total of 37 different genera were identified in the air. These results suggest that anthropogenic sources are major contributors to airborne bacteria at subway stations and that such airborne communities could harbor virulence- and survival-associated properties of potential relevance for biological detection and surveillance, as well as for public health. Our findings also contribute to the development of realistic testing and evaluation schemes for biological detection/surveillance systems by providing information that can be used to mimic real-life operational airborne environments in controlled aerosol test chambers.

Relational governance in outsourcing partnerships

2016 ◽  
Vol 26 (4) ◽  
pp. 435-452 ◽  
Author(s):  
Anuradha Mathrani ◽  
Sanjay Mathrani
Keyword(s):  
Real Life ◽  
Service Level ◽  
Positive Influence ◽  
Control Measures ◽  
Offshore Outsourcing ◽  
Relational Exchange ◽  
Relational Governance ◽  
Content Type ◽  
Governance Practices ◽  
Narrative Storylines

Purpose The paper aims to capture the nuances of two client–supplier relationships to offer new insights on the influences of transactional, knowledge and social elements in outsourcing partnerships. Design/methodology/approach The study has used descriptive case studies with narrative storylines. Interviews were conducted with three relationship managers (boundary gatekeepers) to understand preferred governance practices between clients and suppliers in diverse economic markets. Findings Experiences of three real-life cases engaged in offshore outsourcing have helped to identify the market, operational knowledge and social influences in a relational exchange. Findings reveal that offshore partnerships are first constituted with service-level agreements, which set control measures and layout business expectations from both partners. Boundary gatekeepers bring further accountability across firms by designing social networks for capturing and sharing of knowledge, thereby reducing each partner’s perception of risk. As firms evaluate transactional, knowledge and social elements for building a futuristic relational exchange, more disaggregated and dispersed enterprises evolve as new opportunities are explored in foreign markets. Research limitations/implications The retrospective nature of the client–supplier partnership is a limitation in this research study. However, retrospection adds to experience, and to practice perspectives made in hindsight, and therefore has a positive influence in this study. Originality/value This paper shares real-world experiences that can be used by scholars and practitioners to better understand how relational governance practices operate in a global socio-economic setting.

Organized crime in Brazil

2015 ◽  
Vol 18 (2) ◽  
pp. 234-247 ◽  
Author(s):  
George Henry Millard ◽  
Tim Hundleby
Keyword(s):  
Law Enforcement ◽  
Organized Crime ◽  
Design Methodology ◽  
Research Needs ◽  
Content Type ◽  
Developmental Context

Purpose – The purpose of this paper is to look at the origins and development of organized crime in Brazil. Design/methodology/approach – The authors draw on their experience working in law enforcement for many years in Brazil. Findings – The paper outlines the major crimes committed by organized crime in Brazil and the structure of the main organization carrying them out. Research limitations/implications – The research concentrates on São Paolo and further research needs to be done. Originality/value – This is the first attempt to put the development of organized crime in Brazil into a historical and developmental context.

FATCA violation underlies latest US tax and securities fraud charges

2015 ◽  
Vol 16 (1) ◽  
pp. 74-76
Author(s):  
Miriam Fisher ◽  
Brian McManus
Keyword(s):  
Law Enforcement ◽  
Service Providers ◽  
Task Force ◽  
Tax Compliance ◽  
Financial Fraud ◽  
Securities Fraud ◽  
Content Type ◽  
The Impact ◽  
First Time ◽  
Practical Implications

Purpose – To explain the details and implications of a September 9, 2014 federal indictment, US v. Robert Bandfield, the first time a Foreign Account Tax Compliance Act (FATCA) violation has been charged as an “overt act” in furtherance of a tax conspiracy and securities fraud. Design/methodology/approach – Provides background, including the enactment of FATCA and the details of the indictment; describes an undercover investigation conducted by President Obama’s Financial Fraud Enforcement Task Force; and discusses the warnings this indictment sends to the global financial community. Findings – The indictment confirms the coordinated and aggressive tactics US law enforcement is now employing to investigate and prosecute offshore financial fraud. Practical implications – Banks and financial service providers need to be aware of the impact of enhanced US regulatory obligations and implement appropriate compliance measures. These institutions must also remain sensitive to risks presented by unscrupulous customers. Finally, they must be ready to manage appropriately information-gathering and investigatory inquiries originating with US authorities. Originality/value – Practical guidance from experienced tax controversy lawyers.

Kenneth Fisher’s heuristics

2016 ◽  
Vol 8 (2) ◽  
pp. 130-148
Author(s):  
Carlo Massironi ◽  
Giusy Chesini
Keyword(s):  
Decision Making ◽  
Conceptual Analysis ◽  
Investment Decision ◽  
Real Life ◽  
Human Action ◽  
Theory Of Knowledge ◽  
Constructivist Theory ◽  
Individual Investors ◽  
Content Type ◽  
Radical Constructivist

Purpose The authors are interested in building descriptive – real life – models of successful investors’ investment reasoning and decision-making. Models designed to be useful for trying to replicate and evolve their reasoning and decision-making. The purpose of this paper, a case study, is to take the substantial material – on innovating the investing tools – published in four books (2006/2012, 2010, 2011, 2015) by a US stock investor named Kenneth Fisher (CEO of Fisher Investments, Woodside, California) and sketch Fisher’s investment innovating reasoning model. Design/methodology/approach To sketch Fisher’s investment innovating reasoning model, the authors used the Radical constructivist theory of knowledge, a framework for analyzing human action and reasoning called Symbolic interactionism and a qualitative analytic technique called Conceptual analysis. The authors have done qualitative research applied to the study of investment decision-making of a single professional investor. Findings In the paper, the authors analyzed and described the heuristics used by Fisher to build subsequent generations of investing tools (called by Fisher “Capital Markets Technology”) to try to make better forecasts to beat the stock market. The authors were interested in studying the evolutive dimensions of the tools to make forecasts of a successful investor: the “how to build it” and “how to evolve it” dimension. Originality/value The paper offers an account of Kenneth Fisher’s framework to reason the innovation of investing tools. The authors believe that this paper could be of interest to professional money managers and to all those who are involved in the study and development of the tools of investing. This work is also an example of the use of the Radical constructivist theory of knowledge, the Symbolic interactionist framework and the Conceptual analysis to build descriptive models of investment reasoning of individual investors, models designed to enable the reproduction/approximation of the conceptual operations of the investor.

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