Purpose This paper aims to explain the implications of the impending establishment of national blockchain infrastructure by governments around the world, and how these structures can be integrated with existing legislation and assist in... more
Purpose This paper aims to explain the implications of the impending establishment of national blockchain infrastructure by governments around the world, and how these structures can be integrated with existing legislation and assist in the prevention of financial crime. Design/methodology/approach The methodology used is a literature review and analysis of progress being made to establish national blockchain infrastructure. It provides a discussion of the connection between blockchain and financial crime, and how this infrastructure will interact with existing regulatory frameworks, and particularly, financial crime legislation. Findings This paper documents financial crime risks posed by digital currencies and smart contracts and the role that national blockchain infrastructure can potentially play in mitigating these risks. It highlights the need for governments to devote resources to developing this infrastructure and associated regulatory frameworks. Originality/value There are...
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Fantasy Pitching V follows in the footsteps of four earlier fantasy pitching exercises: Faff, Ali, et al. (2016); Faff, Wallin et al. (2016); Faff, Carrick, et al (2017) & Faff, Baladi, et al (2017). Like all prior versions, the... more
Fantasy Pitching V follows in the footsteps of four earlier fantasy pitching exercises: Faff, Ali, et al. (2016); Faff, Wallin et al. (2016); Faff, Carrick, et al (2017) & Faff, Baladi, et al (2017). Like all prior versions, the current paper challenges teams of novice researchers to use the framework of Faff’s (2015, 2017a) pitching research template, in a time constrained setting, to pitch fictitious research projects. The contexts reported in the current paper come four different settings: (a) a PhD course run at the University of Economics, Prague (April 2017); (b) UQ Summer Research Scholar cohort, 2017-18; (c) AFDEN and, (d) FIRN PhD courses on the “Research Process”. The fantasy application of the “pitching” approach provides a low stress environment for appreciating and exploring the underlying philosophy of the pitching research tool. Herein, we share the fruits of thirteen fantasy teams relating to: (a) Handshaking habits I; (b) Handshaking habits II; (c) Warm ice-cream; (d) Misery vs. happiness; (e) income equality; (f) Air pollution; (g) Divorce; (h) Doraemon; (i) Toupee power; (j) Lego; (k) Spiders; (l) Fashion; and (m) Crime.
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Purpose The purpose of this paper is to interrogate if the legal status of a cannabis affects money laundering activity. The legal status of cannabis continues to evolve globally; at the same time, its market remains enormous. Much of... more
Purpose The purpose of this paper is to interrogate if the legal status of a cannabis affects money laundering activity. The legal status of cannabis continues to evolve globally; at the same time, its market remains enormous. Much of this market represents dirty money from criminal acts, which often requires laundering. In the context of changing cannabis regulations, legislation, and policies, the authors propose the possible implications such changes may have on the extent of money laundering. Design/methodology/approach This paper proposes the implications of the evolution of cannabis regulations on money laundering activities, using the theoretical underpinning of rational choice. Using Australia as a replicable critical case study, the paper, using the Walker gravity model and using United Nations Office on Drugs and Crime-reported prices of cannabis from 2003 to 2017 and Australian Criminal Intelligence Commission reports empirically validates the effects of cannabis regulati...
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Purpose This paper advocates the use of graph database platforms to investigate networks of illicit companies identified in money laundering schemes. It explains the setup of the data structure to investigate a network of illicit... more
Purpose This paper advocates the use of graph database platforms to investigate networks of illicit companies identified in money laundering schemes. It explains the setup of the data structure to investigate a network of illicit companies identified in cases of money laundering schemes and presents its key application in practice. Grounded in the technology acceptance model (TAM), this paper aims to present key operationalisations and theoretical considerations for effectively driving and facilitating its wider adoption among a range of stakeholders focused on anti-money laundering solutions. Design/methodology/approach This paper explores the benefits of adopting graph databases and critiques their limitations by drawing on primary data collection processes that have been undertaken to derive a network topology. Such representation on a graph database platform provides the opportunity to uncover hidden relationships critical for combatting illicit activities such as money launderi...
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Purpose The paper aims at developing a global ranking system determining a country's appeal as a destination for money laundering. Design/methodology/approach This paper uses principal component analysis (PCA), with a mix of... more
Purpose The paper aims at developing a global ranking system determining a country's appeal as a destination for money laundering. Design/methodology/approach This paper uses principal component analysis (PCA), with a mix of standardised and unstandardised components relating to attractiveness, economic freedom and money laundering risk to come up with an index of money laundering appeal. Findings Four components relating to economic feasibility, financial liberty, government spending and tax regime are critical in influencing a country's money laundering appeal. Research limitations/implications This paper attempts to use a standardised and replicable methodology to condense into a single measure the complex and multifaceted phenomenon of a country's appeal as a destination for money laundering, thus avoiding the difficulty associated with precisely calculating illicit financial flows. Practical implications The ranking system could be used to determine the destinations...
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Research Interests: Criminology and Law
Purpose The purpose of this study is to review the literature on money laundering and its related areas. The main objective is to identify any gaps in the literature and direct attention towards addressing them.... more
Purpose The purpose of this study is to review the literature on money laundering and its related areas. The main objective is to identify any gaps in the literature and direct attention towards addressing them. Design/methodology/approach A systematic review of the money laundering literature was conducted with an emphasis on the Pro-Quest, Scopus and Science-Direct databases. Broad research themes were identified after investigating the literature. The theme about the detection of money laundering was then further investigated. The major approaches of such detection are identified, as well as research gaps that could be addressed in future studies. Findings The literature on money laundering can be classified into the following six broad areas: anti-money laundering framework and its effectiveness, the effect of money laundering on other fields and the economy, the role of actors and their relative importance, the magnitude of money laundering, new opportunities available for mone...