1,721,156 research outputs found
Corruption in the global era: Causes, sources and forms of manifestation
No full textCorruption is a globalising phenomenon. Not only is it rapidly expanding globally but, more signifi cantly, its causes, its means and forms of perpetration and its effects are more and more rooted in the many developments of globalisation. The Panama Papers, the FIFA scandals and the Petrobras case in Brazil are just a few examples of the rapid and alarming globalisation of corrupt practicesin recent years. The lack of empirical evidence on corrupt schemes and a still imperfect dialogue between different disciplinary areas and between academicand practitioners hinder our knowledge of corruption as a global phenomenonand slow down the adoption of appropriate policy responses.Corruption in the Global Era seeks to establish an interdisciplinary dialogue between theory and practice and between different disciplines and to provide a better understanding of the multifaceted aspects of corruption as a global phenomenon. This book gathers top experts across various fields of both the academic and the professional world – including criminology, economics, finance,journalism, law, legal ethics and philosophy of law – to analyze the causes and the forms of manifestation of corruption in the global context and in various sectors(sports, health care, finance, the press etc.) from the most disparate perspectives. The theoretical frameworks elaborated by academics are here complemented by precious insider accounts on corruption in different areas, such as banking and finance and the press. The expanding links between corrupt practices and other global crimes, such as money laundering, fraud and human traffi cking, are also explored. This book is an important resource to researchers, academics and students in the fi elds of law, criminology, sociology, economics and ethics, aswell as professionals, particularly solicitors, barristers, businessmen and public servants
Independence and protection of auditors in the EU anti-money laundering framework
Full text linkThis chapter examines the role of Information Systems (IS) in creating financial instability by automating critical decision-making processes. By following a systems theoretical approach after Lee and Demetis (2016) and based on a few fundamental systems principles, the chapter identifies theoretical propositions about the nature of technology in constructing financial markets, and by extension, financial crises. The chapter draws from a few instances of the Dow Jones Industrial Average crisis of 2010, also known as the Flash Crash of 2:45 where $1trillion was lost in market value within a few minutes. This is used as an example of technology out of control where algorithmic trading creates contingencies that affect how different stakeholders interact and re-act. Based on the entanglement of systems principles and technological interference, the main hypothesis that is developed in this chapter is that technology is largely set to lead in the creation of future instabilities and amplify the degree of uncertainty in markets. Ultimately, this aims to highlight the broader role of technology in the financial system, not as a tool that can be strictly harnessed to support transacting, but as a system in itself that has both emergent and unintended consequences, one of which escalates to the concept of a financial crisis
The challenges of the global anti-money laundering and counter-terrorist financing (AML/CFT) regime for developing countries
No full textThe global architecture governing anti-money laundering and counter-terrorist financing (AML/CFT) has traditionally been dominated by a discourse shaped by the experiences and priorities of developed nations, neglecting the complex realities faced by developing countries. This lacuna is meticulously addressed in our edited volume, Global Anti-Money Laundering Regulation: Developing Countries Compliance Challenges. This chapter sets the scene by illuminating the multifaceted challenges hindering compliance with AML/CFT standards in developing countries alongside examining why these countries adopt these standards they struggle to comply with. Our chapter also highlights the book structure which foregrounds arguments from contributing actors and outlines its acknowledgement. We anticipate that as we navigate the intricacies of global financial governance, this chapter, alongside others will engender research, foster dialogue, empower local actors, and catalyse transformative change towards a more just and effective regulatory framework
Anti-Bribery and Corruption: Perceptions, Risks and Practice for UK Banks
No full textCorruption is a serious economic, social, political, legal and moral problem found in many contexts from sports (i.e. doping in athletics and FIFA scandals) to banking practices (i.e. LIBOR, Dark Pool) and international trade (i.e. the BAE bribery enquiries). Past studies in this field indicate that the risk corruption poses to society at large varies from country to country and is difficult to quantify. Such risk is generally calculated in light of public’s perception of the level of public sector corruption in a given society, but there have been studies which also indicate that economic freedom, socio-political stability, tradition of law abidance and national cultures are the major variables that dictate the degree of corruption. Past research findings both by the academia and policy makers link corruption to poor economic growth, low political stability, lack of transparency and accountability to which liberalisation, privatisation and democratisation are offered as preferred policy responses. The literature review also reveals that there is limited legal analysis of this phenomenon. The author takes the view that the narrow focus on developing countries has obscured more subtle yet costly manifestations of corruption in rich and democratic (developed) countries and as a result the risk of corruption in so-called developed countries is overlooked. This chapter expands the existing knowledge about the determinants of corruption as it focuses on the United Kingdom (UK) where democracy, economic liberalisation and the rule of law are arguably well-established principles in public office generally and in financial transactions particularly. Firstly, this chapter analyses how the UK’s legal instruments address the crime of corruption. Secondly, the risks that bribery and the legal compliance requirements pose for banks are commented on. Finally, a number of good practice proposals are considered and evaluated
Unexplained wealth and financial crime: A global perspective
No full textThis book considers the growing and emerging issue of unexplained wealth and how this issue fits within the larger challenge of financial and economic crime. The collection provides a rich and robust contribution to the dearth of knowledge in this space. Contributions are drawn from legal practitioners, academics and experts from the Global South, Global North, and the Asia Pacific who share their insights to the methods and approaches that have been utilised to tackle unexplained wealth in their respective countries. Each author provides a comprehensive critique of the current regime in addressing the issue and identifies failings. The volume further considers how unexplained wealth can be recognised as an important category, similar in this respect to fraud, bribery, corruption, and tax evasion amongst others. Establishing the issue of unexplained wealth as an independent area of research, the book will be essential reading for researchers, academics and policy-makers working in the areas of financial and economic crime, banking law and international corporate governance
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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