Tom Keatinge, Anne-Marie Barry: Disrupting Human Trafficking: The Role of Financial Institutions. 2017.

2018 ◽  
Vol 2 (1) ◽  
pp. 86-87
Author(s):  
Fabien Merz
Keyword(s):  
Human Trafficking ◽  
Financial Institutions

Do cryptocurrencies enable and facilitate modern slavery?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammed Ahmad Naheem
Keyword(s):  
Law Enforcement ◽  
Human Trafficking ◽  
Financial Institutions ◽  
Law Enforcement Agencies ◽  
Content Type ◽  
Operational Mechanism ◽  
Modern Slavery ◽  
Forced Labour ◽  
Detection Mechanisms

Purpose The purpose of this paper is to investigate the role of cryptocurrencies in facilitating operations relating to modern slavery and specifically human trafficking. Over the past decade, law enforcement agencies and intergovernmental organisations have established mechanisms, including financial regulations, to curb and identify such operations. Regulation over conventional financial institutions has greatly aided in identifying cross-border and transregional trafficking operations. However, there remains concern over the role of cryptocurrencies in the modern trafficking enterprise. Design/methodology/approach This paper follows a review of the literature, discussing specific cases that have exposed the role of cryptocurrencies in facilitating human trafficking. This paper first presents a comprehensive discussion on the existing operational mechanism of organisations in human trafficking. Subsequently, it determines the potential use of cryptocurrencies in circumventing detection by law enforcement agencies. Findings This paper finds that existing controls have allowed law enforcement to identify illicit transactions concerning human trafficking through conventional financial institutions. However, the most effective mechanism of identifying such operations is becoming increasingly difficult with the use of cryptocurrencies. Although there are potential solutions to the issues, cryptocurrencies, and the anonymity they offer, have allowed criminal organisations to evade detection using a more active marketplace through the internet. Research limitations/implications Law enforcement agencies and regulators must take into account the nature of cryptocurrencies and the limitations of regulations on such global virtual assets. Instead, this paper’s findings suggest alternate methods, including regulation on exchanges, blockchain use for documentation and investments in detection technologies that allow identification of trafficking operations and forced labour. Originality/value This paper presents existing cases and growing concerns that cannot be quantified in the current circumstance. Further, the paper aims to specifically discuss the role of cryptocurrencies in the existing human trafficking supply chain, offering readers and law enforcement agencies a perspective into criminal organisations’ combination of conventional trafficking operations and modern technological resources. Further, it makes a recommendation to invest in detection mechanisms that are different from the conventional theory based on identification by “following the money”.

INTERACTION OF THE NATIONAL ECONOMY OF UKRAINE WITH INTERNATIONAL CREDIT AND FINANCIAL ORGANIZATIONS

2017 ◽  
Author(s):  
Serhii Voitko ◽  
◽  
Yuliia Borodinova ◽  
Keyword(s):  
Financial Institutions ◽  
National Economy ◽  
Financial Support ◽  
Global Economy ◽  
Financial Sector ◽  
Negative Consequences ◽  
International Financial Institutions ◽  
The Future ◽  
International Credit

The article examines the interaction of the national economy of Ukraine with international credit and financial organizations, evaluates the positive and negative consequences and identifies possible areas for further cooperation. The role of international credit and financial organizations in the development of the global economy is analyzed. Today, international financial institutions have taken a leading place among institutions that provide financial support and contribute to the implementation of necessary reforms aimed at developing enterprises in various sectors of the economy and strengthening the country's financial sector as a whole. The importance of cooperation between Ukraine and international financial institutions for the development of the country's economy has been determined. The problems and directions of development of cooperation with leading credit and financial organizations in modern conditions are identified. Despite the presence of certain shortcomings, cooperation between Ukraine and international credit and financial organizations will continue in the future.

How Finance Colonised Aotearoa: A Concise Counter-History

2019 ◽  
Vol 7 ◽  
pp. 41
Author(s):  
Catherine Cumming
Keyword(s):  
Financial Institutions ◽  
The State ◽  
Colonial History ◽  
Financial Instruments ◽  
Financial History ◽  
Early Colonial ◽  
History Of

This paper intervenes in orthodox under-standings of Aotearoa New Zealand’s colonial history to elucidate another history that is not widely recognised. This is a financial history of colonisation which, while implicit in existing accounts, is peripheral and often incidental to the central narrative. Undertaking to reread Aotearoa New Zealand’s early colonial history from 1839 to 1850, this paper seeks to render finance, financial instruments, and financial institutions explicit in their capacity as central agents of colonisation. In doing so, it offers a response to the relative inattention paid to finance as compared with the state in material practices of colonisation. The counter-history that this paper begins to elicit contains important lessons for counter-futures. For, beyond its implications for knowledge, the persistent and violent role of finance in the colonisation of Aotearoa has concrete implications for decolonial and anti-capitalist politics today.  

The Role of Mobile Money in Moderating Financial Exclusion: A Tanzanian Experience

2020 ◽  
Vol 2 ◽  
pp. 1-24 ◽  
Author(s):  
Deogratius Joseph Mhella
Keyword(s):  
Developing Countries ◽  
Financial Institutions ◽  
Banking Sector ◽  
Research Question ◽  
Microfinance Institutions ◽  
Mobile Money ◽  
Access To Credit ◽  
Financial Exclusion

Prior to the advent of mobile money, the banking sector in most of the developing countries excluded certain segments of the population. The excluded populations were deemed as a risk to the banking sector. The banking sector did not work with cash stripped and the financially disenfranchised people. Financial exclusion persisted to incredibly higher levels. Those excluded did not have: bank accounts, savings in financial institutions, access to credit, loan and insurance services. The advent of mobile money moderated the very factors of financial exclusion that the banks failed to resolve. This paper explains how mobile money moderates the factors of financial exclusion that the banks and microfinance institutions have always failed to moderate. The paper seeks to answer the following research question: 'How has mobile money moderated the factors of financial exclusion that other financial institutions failed to resolve between 1960 and 2008? Tanzania has been chosen as a case study to show how mobile has succeeded in moderating financial exclusion in the period after 2008.

Governing Proliferation Finance

2019 ◽  
Author(s):  
Grégoire Mallard
Keyword(s):  
United Nations ◽  
Financial Institutions ◽  
Security Council ◽  
United Nations Security Council ◽  
Nuclear Nonproliferation ◽  
Global Regulation ◽  
Nuclear Program ◽  
Global System ◽  
Financial Transactions

As the critical sanctions against Iran’s nuclear program demonstrate, the implementation of sanctions against nuclear proliferators has led to the creation of a global system of surveillance of the financial dealings of all states, banks, and individuals, fostered by United Nations Security Council resolutions—a new and unprecedented development. This chapter asks: Which actors have been in charge of designing and implementing sanctions against nuclear proliferators? Which legal technologies have they developed to regulate global financial transactions? Answering these questions generates a better understanding of key processes in global governance: the increasing role of the Security Council as a global legislator; the “financialization” of global regulation, with the increasing role played by international and US domestic financial institutions that were historically foreign to the field of nuclear nonproliferation; and the judicialization of the enforcement of sanctions, which is accompanied by the multiplication of secondary sanctions against sanctions-evaders.

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