The Analysis of Money Laundering Techniq

2011 ◽  
pp. 138-145
Author(s):  
Krzysztof Woda
Keyword(s):  
Money Laundering ◽  
Single Phase ◽  
Mobile Payment ◽  
Electronic Payment ◽  
Multistage Process ◽  
Payment Systems ◽  
Terrorism Financing

There exist many connections between money laundering and terrorism financing concerning illicit practices for fundraising, transfer or withdrawal of funds. The characteristic multistage process of money laundering is also typical for the terrorism financing and often contains a series of transactions in order to conceal the origin or disposition of money. The purpose of this article is the analysis of the best suited techniques of money laundering for terrorism financing using electronic payment systems (like transfers, mobile payment systems or virtual gold currencies). Furthermore, the suitability of payment systems for conducting secret transactions for terrorism financing will be analyzed regarding the realization of a single phase of money laundering.

scholarly journals Cashless Economy in India: Challenges Ahead

2020 ◽  
Vol 8 (1) ◽  
pp. 21-30
Author(s):  
Aslam Hasan ◽  
Mohammed Atif Aman ◽  
Mohd Ashraf Ali
Keyword(s):  
Money Laundering ◽  
Central Government ◽  
Online Banking ◽  
Electronic Payment ◽  
Payment Systems ◽  
New Era ◽  
Digital Money ◽  
The Way

In an attempt to curb-out black money, money laundering, and to have a sound economy, the central government of India has embarked on the cashless economy. It is the birth of a new era in the nation with life with digital money. This paper is going to conceptualize the meaning of a cashless system, explains online banking techniques in India, schemes by government to spread the cashless system in India and highlights the challenges of the cashless economy and electronic payment systems. The objective of this study is to examine the significant challenges that are faced by Indians on the way towards cashless. To achieve the objectives of this exploratory type of personal study, interviews will be conducted.

scholarly journals Analysis of Electronic Payment Systems in Ghana - A Case Study of Mobile Payment System

2018 ◽  
Vol 6 (06) ◽  
Author(s):  
Francis Agbenyegah Kwadzo ◽  
Regina Kafui Adroe ◽  
Dr. Michael Asante
Keyword(s):  
Mobile Phone ◽  
Financial Services ◽  
Banking Sector ◽  
Mobile Payment ◽  
Electronic Payment ◽  
Payment Systems ◽  
Next Of Kin ◽  
Bank Account ◽  
Mobile Money ◽  
Money Transfers

Mobile payment is an electronic payment made through a mobile device. As the number of mobile phone subscribers in Ghana increases, so does the market for mobile money services. The majority of Ghanaians lack any formal bank account. An estimated 80 percent of Ghanaians are “unbanked” – meaning they conduct their transactions outside the banking sector with no access to financial services. Products like “mobile money,” that enable safe and secure money transfers without the use of a bank account, could have a major impact on this unserved segment of the population. Mobile money gives anyone with a mobile phone the ability to transfer money, make cash payments and conduct other financial transactions over the phone. Currently, there are four mobile money payment systems in Ghana, namely, MTN mobile money, Vodafone (VF) cash, Tigo cash and Airtel money. For an effective operation of these systems, Privacy, Traceability, Cost of Transaction, and Simplicity of the Processes involved are of much interest. The study examined the loopholes in the current mobile payment systems and proposed a framework to address the loopholes such as: Entering of information on next of kin into the system during registration, acceptance of year of birth as PIN, transactional PIN decrypted, no entering of a Valid ID number into the system, no provision for security word during token cash out, no provision for guarantor information, no provision for BoG permit number, no provision for police clearance number, and data in transit not encrypted. Keywords: Transactions, mobile money, traceability

scholarly journals APPLE, SAMSUNG И ANDROID PAY: FEATURES OF CONTACTLESS MOBILE PAYMENT SYSTEMS AND THE PROSPECTS FOR THEIR IMPLEMENTATION IN RUSSIA

2017 ◽  
Vol 11 (3) ◽  
pp. 126-135
Author(s):  
Анна Силаева ◽  
Anna Silaeva ◽  
Георгий ИГНАТЕНКОВ ◽  
Georgij IGNATENKOV
Keyword(s):  
Mobile Phones ◽  
Financial Services ◽  
Mobile Payment ◽  
Strategic Analysis ◽  
Competitive Advantages ◽  
Electronic Payment ◽  
Payment Systems ◽  
Electronic Payments ◽  
Important Trend ◽  
Stable Growth

In recent years, the several trends are stable: growth in sales through mobile phones, increasing the share of cashless payments, access to the market for electronic payment companies that have never provided financial services before, and the simplification of tariff schedules. An important trend is the emergence of mobile payment systems, such as Apple Pay, Android Pay, Sam-sung Pay. Unfortunately, there are many myths around such services, as well as misunderstandings about how they work, for what they are in need, what they bring to the market, and whether they bring security and confidentiality. The presented material is devoted to the development of innovative technologies and services in the field of electronic payments. The relevance of the declared issue is determined by the active development of contactless payment technology in Russia, which is a good example of a symbiosis of the bank's work, payment system and telephone. Contactless payment with a mobile phone will be a step towards a denial of cash. The article reveals the essence of these payment systems, the features of their use, the competitive advantages of contactless mobile payment systems. Also, the authors discusses the implementation of these payment systems in Russia's realities, notes the problems that they may face in the process of implementation and use. The article uses methods of strategic analysis, content analysis, analysis of documents and observations. The features of the introduction and development of contactless mobile pay-ment systems identified during the research can be considered as a basis for further research in this field.

The use of statistical methods in the analysis of mobile payment market in Poland

2020 ◽  
Vol 3 (2) ◽  
pp. 45-50
Author(s):  
Artur Borcuch
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Initial Phase ◽  
Positive Impact ◽  
Ease Of Use ◽  
Mobile Payment ◽  
Human History ◽  
Payment Systems ◽  
Mobile Payments ◽  
Payment Instruments

Payments are an inherent element of economic activity (León and Ortega 2018). However, the evolution of payment instruments and the way individuals and businesses make daily payments has undergone enormous change in human history, particularly due to main innovations in payment systems in last decades (Gandhi 2016). The last innovation in payment system concerns mobile payment. The development of mobile payments market can have a positive impact on economic growth (Leon and Rodriguez 2012). Although the Polish market of mobile payments is in the initial phase of development, it is one of the pioneering and leading in Europe and globally. The main purpose of this article is to analyze, which feature (convenience, speed, availability, ease of use, safety) of mobile payments could be the most important for users from Poland.

An analysis of the forfeiture regime under the anti-money laundering law

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Aspalella A. Rahman
Keyword(s):  
Money Laundering ◽  
Secondary Data ◽  
Primary Sources ◽  
Court Cases ◽  
Sources Of Information ◽  
Content Type ◽  
Terrorism Financing ◽  
Bona Fide ◽  
Descriptive Approach ◽  
Insight Into

Purpose This paper aims to analyze the forfeiture regime under the Malaysian anti-money laundering law. Apart from discussing the relevant provisions, several court cases also were examined to identify the problems which arise in the implementation of such a powerful forfeiture regime. Design/methodology/approach This paper mainly relies on statutes and court cases as its primary sources of information. It is supported by secondary data to justify the analysis. This paper also used analytical descriptive approach to analyze relevant forfeiture provisions from statutes and to examine current court cases regarding the implementation of the forfeiture regime. Findings The Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) provides comprehensive procedures for the forfeiture of criminal proceeds. Any limitations of the previous statutory legislations have been addressed, and more importantly, the AMLATFPUAA introduces more powerful and innovative measures that can facilitate the recovery of illegal proceeds from money laundering and any other serious crimes. The AMLATFPUAA also provides avenue for the bona fide third parties to contest the forfeiture order. However, it appears that such right is not easy to be enforced. Originality/value This paper provides an analysis of the forfeiture regime under Malaysian anti-money laundering laws. It is hoped that the content of this paper can provide some insight into this particular area for enforcement authorities, practitioners, academics, policymakers and legal advisers not only in Malaysia but also elsewhere. The findings of this paper also expose any weakness or lacunae in the aspects of application and implementation of the forfeiture regime. Thus, more effective and workable legal solution especially on the issue of civil forfeiture of criminal assets could be considered for further accomplishment.

DEVELOPMENT OF ELECTRONIC PAYMENT SYSTEMS IN A PANDEMIC: ANALYSIS OF THE STATE AND FIRECASTING THE CONSEQUENCES

2021 ◽  
Vol 1 (5) ◽  
pp. 112-117
Author(s):  
V. V. TADTAEVA ◽  
◽  
B. E. BAGAEV ◽  
A. A. BESAEVA ◽  
A. E. KALMANOVA ◽  
...  
Keyword(s):  
The State ◽  
Economic Life ◽  
Modern World ◽  
Electronic Payment ◽  
Payment Systems ◽  
Electronic Money

Money is an integral part of the economic life of society. Payments are made both in cash and in non-cash form. During the COVID-19 epidemic, the use of electronic payment systems became the most profitable. The article examines the role of electronic money in the modern world in the context of a pandemic. Is given a rating of e-payment systems in Russia for 9 months. 2020.

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