Pub Date : 2024-05-07DOI: 10.1108/jfc-02-2024-0066
Richard Kapend, Mark Button, Peter Stiernstedt
Purpose A significant number of criminal and deviant acts are investigated by nonpolice actors. These include private investigators who charge fees for their services, professional services firms such as firms of accountants who also charge fees, in-house investigators employed by private organisations and in-house investigators of public sector organisations who are not sworn police officers. Some of these investigators, such as private investigators, have been exposed in unethical activities such as illegal surveillance and blagging to name some. In this respect, this study aims to uncover the ethical orientations of investigators using cluster analysis. Design/methodology/approach This study is based upon an online survey of private investigators predominantly in the UK, i.e. investigators beyond the public police. An innovate statistical inferential analysis was used to investigate the sample which resulted in the development of three ethical orientations of such investigators. Findings Based upon a survey response from 331 of these types of investigators this study illustrates the extent they engage in unethical activities, showing a very small minority of largely private investigators who engage in such activities. Originality/value A unique feature of this study is the use of an innovative statistical approach using an unsupervised machine learning model, namely, TwoStep cluster analysis, to successfully group and classify respondents based on their ethical orientation. The model derived three types of ethical orientation: ethical, inbetweeners and risk takers.
{"title":"Private investigations and ethical orientations: a cause for concern?","authors":"Richard Kapend, Mark Button, Peter Stiernstedt","doi":"10.1108/jfc-02-2024-0066","DOIUrl":"https://doi.org/10.1108/jfc-02-2024-0066","url":null,"abstract":"Purpose\u0000A significant number of criminal and deviant acts are investigated by nonpolice actors. These include private investigators who charge fees for their services, professional services firms such as firms of accountants who also charge fees, in-house investigators employed by private organisations and in-house investigators of public sector organisations who are not sworn police officers. Some of these investigators, such as private investigators, have been exposed in unethical activities such as illegal surveillance and blagging to name some. In this respect, this study aims to uncover the ethical orientations of investigators using cluster analysis.\u0000\u0000Design/methodology/approach\u0000This study is based upon an online survey of private investigators predominantly in the UK, i.e. investigators beyond the public police. An innovate statistical inferential analysis was used to investigate the sample which resulted in the development of three ethical orientations of such investigators.\u0000\u0000Findings\u0000Based upon a survey response from 331 of these types of investigators this study illustrates the extent they engage in unethical activities, showing a very small minority of largely private investigators who engage in such activities.\u0000\u0000Originality/value\u0000A unique feature of this study is the use of an innovative statistical approach using an unsupervised machine learning model, namely, TwoStep cluster analysis, to successfully group and classify respondents based on their ethical orientation. The model derived three types of ethical orientation: ethical, inbetweeners and risk takers.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"26 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141005080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-05-07DOI: 10.1108/jfc-10-2023-0267
O. Olujobi, Oshobugie Suleiman Irumekhai
Purpose The purpose of this paper is to scrutinise the intricate relationship between the inadequate enforcement of anti-corruption laws and the application of good governance and the persisting prevalence of coups d'état and poverty in Africa. Design/methodology/approach This paper uses a doctrinal legal research approach, synthesising existing literature while extensively analysing primary and secondary legal sources. Its primary aim is to scrutinise the intricate relationship between the inadequate enforcement of anti-corruption laws and the application of good governance and the persisting prevalence of coups d'état and poverty in Africa. The choice of case study countries Burkina Faso, Chad, Gabon, Guinea, Mali, Niger and Sudan stems from their historical significance, regional diversity, data accessibility and potential insights into the interplay among anti-corruption enforcement, governance, poverty and coups d'état in Africa. Findings The enforcement of anti-corruption laws and the promotion of good governance are indispensable for democracy and economic stability; their suboptimal enforcement directly contributes to coups d'état and the worsening of poverty in African nations. It emphasises the imperative for African countries to consistently and proficiently enforce anti-corruption laws and adhere to principles of good governance, effectively and responsibly, to mitigate coups d'état and alleviate poverty in the region. Originality/value This study designs a model strategy for combating coups d'état and corruption in Africa as contribution to knowledge in the field of study.
{"title":"Inelegant enforcement of anti-corruption laws and good governance: a persistent catalyst for coups d’état and poverty in Africa","authors":"O. Olujobi, Oshobugie Suleiman Irumekhai","doi":"10.1108/jfc-10-2023-0267","DOIUrl":"https://doi.org/10.1108/jfc-10-2023-0267","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to scrutinise the intricate relationship between the inadequate enforcement of anti-corruption laws and the application of good governance and the persisting prevalence of coups d'état and poverty in Africa.\u0000\u0000\u0000Design/methodology/approach\u0000This paper uses a doctrinal legal research approach, synthesising existing literature while extensively analysing primary and secondary legal sources. Its primary aim is to scrutinise the intricate relationship between the inadequate enforcement of anti-corruption laws and the application of good governance and the persisting prevalence of coups d'état and poverty in Africa. The choice of case study countries Burkina Faso, Chad, Gabon, Guinea, Mali, Niger and Sudan stems from their historical significance, regional diversity, data accessibility and potential insights into the interplay among anti-corruption enforcement, governance, poverty and coups d'état in Africa.\u0000\u0000\u0000Findings\u0000The enforcement of anti-corruption laws and the promotion of good governance are indispensable for democracy and economic stability; their suboptimal enforcement directly contributes to coups d'état and the worsening of poverty in African nations. It emphasises the imperative for African countries to consistently and proficiently enforce anti-corruption laws and adhere to principles of good governance, effectively and responsibly, to mitigate coups d'état and alleviate poverty in the region.\u0000\u0000\u0000Originality/value\u0000This study designs a model strategy for combating coups d'état and corruption in Africa as contribution to knowledge in the field of study.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"25 46","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141005296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-26DOI: 10.1108/jfc-11-2023-0299
Zobaida Khanam
Purpose This study aims to assess the impact of determinants on the effectiveness of internal audit (IA) within the banking industry of Bangladesh. Design/methodology/approach The data was obtained through 152 survey questionnaires from a total of 43 privately owned and six state-owned commercial banks in Bangladesh. The analysis was conducted using structural equation modeling. Findings The findings demonstrate that the independence of internal auditors and the quality of IA substantially impact enhancing the efficiency of IA. On the other hand, the competence of internal auditors and management support in IA functions do not significantly impact the effectiveness of IA. Practical implications The study’s findings may have significant policy implications for the government, regulators, internal auditors, management committees and other stakeholders in establishing programmes to enhance the efficacy of IA as a component of banking audit management reforms. Originality/value This study makes three distinct contributions to the existing literature. Firstly, previous literature focused on the determinants affecting the external audit efficiency of the public companies and banking sectors in Bangladesh (Hasan, 2018; M. M. U. Reza, 2021). In this study, the author enhances the research by presenting empirical findings on the IA effectiveness of banks. Secondly, the author expands the research by incorporating both private and state-owned commercial banks as samples. Thirdly, the study is unique given that it investigates the effectiveness of IA in response to the recent financial scandals in the banking industry of Bangladesh (The Daily Star, 2023).
本研究旨在评估决定因素对孟加拉国银行业内部审计（IA）有效性的影响。研究结果研究结果表明，内部审计师的独立性和内审质量对提高内审效率有很大影响。研究结果对政府、监管机构、内部审计师、管理委员会和其他利益相关者制定提高内审效率的计划（作为银行审计管理改革的一部分）具有重要的政策意义。首先，以往文献主要关注影响孟加拉国上市公司和银行业外部审计效率的决定因素（Hasan，2018；M. M. U. Reza，2021）。在本研究中，作者通过提出关于银行内部审计有效性的实证研究结果来加强研究。其次，作者将私营商业银行和国有商业银行作为样本，扩大了研究范围。第三，这项研究是独一无二的，因为它针对孟加拉国银行业最近发生的金融丑闻调查了内部审计的有效性（《每日星报》，2023 年）。
{"title":"Effectiveness of internal auditing from the lens of internal audit factors: empirical findings from the banking sector of Bangladesh","authors":"Zobaida Khanam","doi":"10.1108/jfc-11-2023-0299","DOIUrl":"https://doi.org/10.1108/jfc-11-2023-0299","url":null,"abstract":"\u0000Purpose\u0000This study aims to assess the impact of determinants on the effectiveness of internal audit (IA) within the banking industry of Bangladesh.\u0000\u0000\u0000Design/methodology/approach\u0000The data was obtained through 152 survey questionnaires from a total of 43 privately owned and six state-owned commercial banks in Bangladesh. The analysis was conducted using structural equation modeling.\u0000\u0000\u0000Findings\u0000The findings demonstrate that the independence of internal auditors and the quality of IA substantially impact enhancing the efficiency of IA. On the other hand, the competence of internal auditors and management support in IA functions do not significantly impact the effectiveness of IA.\u0000\u0000\u0000Practical implications\u0000The study’s findings may have significant policy implications for the government, regulators, internal auditors, management committees and other stakeholders in establishing programmes to enhance the efficacy of IA as a component of banking audit management reforms.\u0000\u0000\u0000Originality/value\u0000This study makes three distinct contributions to the existing literature. Firstly, previous literature focused on the determinants affecting the external audit efficiency of the public companies and banking sectors in Bangladesh (Hasan, 2018; M. M. U. Reza, 2021). In this study, the author enhances the research by presenting empirical findings on the IA effectiveness of banks. Secondly, the author expands the research by incorporating both private and state-owned commercial banks as samples. Thirdly, the study is unique given that it investigates the effectiveness of IA in response to the recent financial scandals in the banking industry of Bangladesh (The Daily Star, 2023).\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"7 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140652441","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-25DOI: 10.1108/jfc-11-2023-0292
Mohd Azril Rezza Mohd Razmin, Amri Mohamad, Maheran Zakaria
Purpose This study aims to investigate the factors that influence asset misappropriation fraud among police officers in the Internal Security and Public Order (Malay: Keselamatan Dalam Negeri dan Ketenteraman Awam [KDNKA]) Department, Royal Malaysian Police (RMP). Design/methodology/approach Primary data were collected from a questionnaire-based survey and the data were analysed using descriptive analysis, correlation analysis and multiregression. Findings The element of pressure was found to have a negative relationship with asset misappropriation fraud. This result shows the uniqueness of the KDNKA Department in the RMP. The other three elements are found to have a significant positive relationship with asset misappropriation fraud. Practical implications This study’s findings can aid academicians in gaining a better understanding of the literature surrounding fraud diamond theory and aid the policymakers in recognizing the signs and possibilities of asset misappropriation fraud in public agencies. Originality/value To the best of the authors’ knowledge, this is the first study that uses the KDNKA Department which is the second largest department in RMP as a population in fraud study.
本研究旨在调查影响马来西亚皇家警察部队（RMP）内部安全与公共秩序部（马来语：Keselamatan Dalam Negeri dan Ketenteraman Awam [KDNKA]）警官资产挪用欺诈行为的因素。研究设计/方法/手段通过问卷调查收集初步数据，并使用描述性分析、相关分析和多元回归法对数据进行分析。研究结果发现，压力因素与资产挪用欺诈行为呈负相关。这一结果显示了 KDNKA 部门在 RMP 中的独特性。本研究的发现有助于学术界更好地理解有关欺诈钻石理论的文献，并帮助决策者识别公共机构中资产挪用欺诈的迹象和可能性。
{"title":"Adopting fraud diamond theory to predict factors of asset misappropriation fraud among police officers","authors":"Mohd Azril Rezza Mohd Razmin, Amri Mohamad, Maheran Zakaria","doi":"10.1108/jfc-11-2023-0292","DOIUrl":"https://doi.org/10.1108/jfc-11-2023-0292","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate the factors that influence asset misappropriation fraud among police officers in the Internal Security and Public Order (Malay: Keselamatan Dalam Negeri dan Ketenteraman Awam [KDNKA]) Department, Royal Malaysian Police (RMP).\u0000\u0000\u0000Design/methodology/approach\u0000Primary data were collected from a questionnaire-based survey and the data were analysed using descriptive analysis, correlation analysis and multiregression.\u0000\u0000\u0000Findings\u0000The element of pressure was found to have a negative relationship with asset misappropriation fraud. This result shows the uniqueness of the KDNKA Department in the RMP. The other three elements are found to have a significant positive relationship with asset misappropriation fraud.\u0000\u0000\u0000Practical implications\u0000This study’s findings can aid academicians in gaining a better understanding of the literature surrounding fraud diamond theory and aid the policymakers in recognizing the signs and possibilities of asset misappropriation fraud in public agencies.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is the first study that uses the KDNKA Department which is the second largest department in RMP as a population in fraud study.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"58 38","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140656836","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-16DOI: 10.1108/jfc-10-2023-0263
Natile Nonhlanhla Cele, Sheila Kwenda
Purpose The purpose of the study is to identify cybersecurity threats that hinder the adoption of digital banking and provide sustainable strategies to combat cybersecurity risks in the banking industry. Design/methodology/approach Systematic literature review guidelines were used to conduct a quantitative synthesis of empirical evidence regarding the impact of cybersecurity threats and risks on the adoption of digital banking. Findings A total of 84 studies were initially examined, and after applying the selection and eligibility criteria for this systematic review, 58 studies were included. These selected articles consistently identified identity theft, malware attacks, phishing and vishing as significant cybersecurity threats that hinder the adoption of digital banking. Originality/value With the country’s banking sector being new in this area, this study contributes to the scant literature on cyber security, which is mostly in need due to the myriad breaches that the industry has already suffered thus far.
{"title":"Do cybersecurity threats and risks have an impact on the adoption of digital banking? A systematic literature review","authors":"Natile Nonhlanhla Cele, Sheila Kwenda","doi":"10.1108/jfc-10-2023-0263","DOIUrl":"https://doi.org/10.1108/jfc-10-2023-0263","url":null,"abstract":"\u0000Purpose\u0000The purpose of the study is to identify cybersecurity threats that hinder the adoption of digital banking and provide sustainable strategies to combat cybersecurity risks in the banking industry.\u0000\u0000\u0000Design/methodology/approach\u0000Systematic literature review guidelines were used to conduct a quantitative synthesis of empirical evidence regarding the impact of cybersecurity threats and risks on the adoption of digital banking.\u0000\u0000\u0000Findings\u0000A total of 84 studies were initially examined, and after applying the selection and eligibility criteria for this systematic review, 58 studies were included. These selected articles consistently identified identity theft, malware attacks, phishing and vishing as significant cybersecurity threats that hinder the adoption of digital banking.\u0000\u0000\u0000Originality/value\u0000With the country’s banking sector being new in this area, this study contributes to the scant literature on cyber security, which is mostly in need due to the myriad breaches that the industry has already suffered thus far.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"107 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140695166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-16DOI: 10.1108/jfc-01-2024-0002
Reem Zaabalawi, Gregory D Vanderpyl, Daniel Fredrick, Kimberly Gleason, Deborah Smith
Purpose The purpose of this study is to extend the Fraud Diamond Theory to celebrity Special Purpose Acquisition Companies (SPACs) and investigate their post-Initial Public Offering (IPO) stock market performance. Design/methodology/approach After obtaining a sample of celebrity SPACs from the Spacresearch.com database, fraud risk characteristics were obtained from Lexis Nexus searches. Buy and hold abnormal returns were calculated for celebrity SPACs versus a small-cap equity benchmark for time intervals after IPO, and multiple regression analysis was performed to examine the relationship between fraud risk features and post-IPO returns. Findings Celebrity SPACs exhibit Fraud Diamond characteristics and significantly underperform a small-cap stock portfolio on a risk-adjusted basis after IPO. Research limitations/implications This study only examines celebrity SPACs that conducted IPOs on the NYSE and NASDAQ/AMEX and does not include those that are traded on the Over the Counter Bulletin Board (OTCBB). Practical implications Celebrity endorsement of SPAC vehicles attracts investors who may not be properly informed regarding the risk characteristics of SPACs. Accordingly, investors should be warned that celebrity SPACs underperform a small-cap equity portfolio and exhibit significant elements of fraud risk. Social implications The use of celebrity endorsement as a marketing device to attract investment in SPACs has regulatory implications. Originality/value To the best of the authors’ knowledge, this paper is the first to examine the fraud risk characteristics and post-IPO performance of celebrity SPACs.
{"title":"Fraud risk implications of celebrity SPACs","authors":"Reem Zaabalawi, Gregory D Vanderpyl, Daniel Fredrick, Kimberly Gleason, Deborah Smith","doi":"10.1108/jfc-01-2024-0002","DOIUrl":"https://doi.org/10.1108/jfc-01-2024-0002","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to extend the Fraud Diamond Theory to celebrity Special Purpose Acquisition Companies (SPACs) and investigate their post-Initial Public Offering (IPO) stock market performance.\u0000\u0000\u0000Design/methodology/approach\u0000After obtaining a sample of celebrity SPACs from the Spacresearch.com database, fraud risk characteristics were obtained from Lexis Nexus searches. Buy and hold abnormal returns were calculated for celebrity SPACs versus a small-cap equity benchmark for time intervals after IPO, and multiple regression analysis was performed to examine the relationship between fraud risk features and post-IPO returns.\u0000\u0000\u0000Findings\u0000Celebrity SPACs exhibit Fraud Diamond characteristics and significantly underperform a small-cap stock portfolio on a risk-adjusted basis after IPO.\u0000\u0000\u0000Research limitations/implications\u0000This study only examines celebrity SPACs that conducted IPOs on the NYSE and NASDAQ/AMEX and does not include those that are traded on the Over the Counter Bulletin Board (OTCBB).\u0000\u0000\u0000Practical implications\u0000Celebrity endorsement of SPAC vehicles attracts investors who may not be properly informed regarding the risk characteristics of SPACs. Accordingly, investors should be warned that celebrity SPACs underperform a small-cap equity portfolio and exhibit significant elements of fraud risk.\u0000\u0000\u0000Social implications\u0000The use of celebrity endorsement as a marketing device to attract investment in SPACs has regulatory implications.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this paper is the first to examine the fraud risk characteristics and post-IPO performance of celebrity SPACs.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"7 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140696345","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-09DOI: 10.1108/jfc-11-2023-0302
Iftikhar Ahmad, Salim Khan, Shahid Iqbal
Purpose The purpose of this paper is to investigate and analyze the adoption of digital technologies in the banking industry and its impact on the rise of digital fraudulent activities, specifically focusing on online banking frauds. This paper aims to provide insights into the current technologies implemented by banks to secure their online banking systems and explores the methods used by cybercriminals to exploit security vulnerabilities in these systems. Design/methodology/approach In order to understand how digital technologies in banking can be secured against online fraud, this research conducted a systematic literature review (SLR) on digital banking, online banking fraud, and security measurements. The review encompasses a variety of sources from online databases such as Emerald Insight, Google Scholar, IEEE, JSTOR, Springer and Science Direct. Findings The key finding of the paper is that the adoption of digital technologies in the banking industry has led to a significant increase in digital fraudulent activities, particularly in the form of online banking frauds. This paper emphasizes that these frauds have become a global concern and have evolved into an industry where cybercriminals use sophisticated tools such as phishing attacks, denial-of-service attacks, Trojan horses, malware infections, identity theft and computer viruses. Research limitations/implications This study relies solely on a literature review without incorporating primary data or case studies; therefore, it might miss out on the firsthand experiences and perspectives of banks and cybersecurity professionals. Practical implications This study emphasizes the need for banks to adopt advanced security measures to safeguard their online banking systems. Social implications This study underscores the importance of ongoing training and awareness programs for both bank employees and customers. Originality/value This study specifically addresses the adoption of digital technologies in the banking industry and its correlation with the increase in digital fraudulent activities. This focus on the intersection of technology and fraud in the banking sector is a distinctive aspect. This study conducts a SLR to examine the current technologies implemented by banks to safeguard their online banking systems. This comprehensive approach provides insights into the diverse security measures used by banks to protect against various types of cyber threats.
目的本文旨在调查和分析银行业采用数字技术的情况及其对数字欺诈活动增加的影响，尤其侧重于网上银行欺诈。本文旨在深入探讨银行为确保其网上银行系统安全而采用的现有技术，并探讨网络犯罪分子利用这些系统中的安全漏洞所使用的方法。设计/方法/途径为了了解银行业的数字技术如何确保网上欺诈的安全，本研究对数字银行、网上银行欺诈和安全测量进行了系统的文献综述（SLR）。该综述涵盖了 Emerald Insight、Google Scholar、IEEE、JSTOR、Springer 和 Science Direct 等在线数据库中的各种资料来源。研究结果本文的主要发现是，银行业采用数字技术导致数字欺诈活动大幅增加，尤其是以网上银行欺诈形式出现的欺诈活动。本文强调，这些欺诈行为已成为全球关注的问题，并已演变成网络犯罪分子使用网络钓鱼攻击、拒绝服务攻击、木马、恶意软件感染、身份盗用和计算机病毒等复杂工具的行业。研究局限性/影响本研究仅依赖文献综述，未纳入原始数据或案例研究；因此，它可能会忽略银行和网络安全专业人员的第一手经验和观点。实际意义本研究强调，银行有必要采取先进的安全措施来保护其网上银行系统。社会意义本研究强调了为银行员工和客户提供持续培训和提高认识计划的重要性。原创性/价值本研究专门探讨了数字技术在银行业的应用及其与数字欺诈活动增加之间的相关性。将重点放在银行业技术与欺诈的交叉点上是其与众不同之处。本研究通过 SLR 来研究银行目前为保护其网上银行系统而采用的技术。通过这种全面的方法，我们可以深入了解银行为防范各类网络威胁而采用的各种安全措施。
{"title":"Guardians of the vault: unmasking online threats and fortifying e-banking security, a systematic review","authors":"Iftikhar Ahmad, Salim Khan, Shahid Iqbal","doi":"10.1108/jfc-11-2023-0302","DOIUrl":"https://doi.org/10.1108/jfc-11-2023-0302","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to investigate and analyze the adoption of digital technologies in the banking industry and its impact on the rise of digital fraudulent activities, specifically focusing on online banking frauds. This paper aims to provide insights into the current technologies implemented by banks to secure their online banking systems and explores the methods used by cybercriminals to exploit security vulnerabilities in these systems.\u0000\u0000\u0000Design/methodology/approach\u0000In order to understand how digital technologies in banking can be secured against online fraud, this research conducted a systematic literature review (SLR) on digital banking, online banking fraud, and security measurements. The review encompasses a variety of sources from online databases such as Emerald Insight, Google Scholar, IEEE, JSTOR, Springer and Science Direct.\u0000\u0000\u0000Findings\u0000The key finding of the paper is that the adoption of digital technologies in the banking industry has led to a significant increase in digital fraudulent activities, particularly in the form of online banking frauds. This paper emphasizes that these frauds have become a global concern and have evolved into an industry where cybercriminals use sophisticated tools such as phishing attacks, denial-of-service attacks, Trojan horses, malware infections, identity theft and computer viruses.\u0000\u0000\u0000Research limitations/implications\u0000This study relies solely on a literature review without incorporating primary data or case studies; therefore, it might miss out on the firsthand experiences and perspectives of banks and cybersecurity professionals.\u0000\u0000\u0000Practical implications\u0000This study emphasizes the need for banks to adopt advanced security measures to safeguard their online banking systems.\u0000\u0000\u0000Social implications\u0000This study underscores the importance of ongoing training and awareness programs for both bank employees and customers.\u0000\u0000\u0000Originality/value\u0000This study specifically addresses the adoption of digital technologies in the banking industry and its correlation with the increase in digital fraudulent activities. This focus on the intersection of technology and fraud in the banking sector is a distinctive aspect. This study conducts a SLR to examine the current technologies implemented by banks to safeguard their online banking systems. This comprehensive approach provides insights into the diverse security measures used by banks to protect against various types of cyber threats.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"105 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140724742","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-04DOI: 10.1108/jfc-11-2023-0303
F. Teichmann, Chiara Wittmann, Sonia R. Boticiu, Bruno Sergio S Sergi
Purpose The purpose of this paper is to examine the influence that the occurrence of greenwashing has on the consumer perception of corporate social responsibility (CSR). Design/methodology/approach This paper observed the market indication that a consistent undermining of authentic commitment to CSR taints consumer perception. Investigating how the motivations behind greenwashing contribute to the presentation of CSR was the first means of examining the market forces. Consumer orientation was used as a guiding principle to consider the short- and long-term perspective of a greenwasher. Findings Individual instances of greenwashing contribute to a collective deterioration of marketplace trust in the promises of CSR. The negative influence on CSR is not isolated to the greenwashing perpetrator but casts a wider effect. The consequences of greenwashing are not isolated but widely dispersed. Originality/value Whilst much of the literature focuses on the stigmatisation of individual firms, it is crucial to note how marketplace trust is eroded. In addition, the perception of CSR-related regulations is for example influenced but rarely recognised as a consequence of greenwashing behaviour.
{"title":"Can the consumer perception of corporate social responsibility be saved? An examination into the effects of corporate greenwashing on the consumer and financial market","authors":"F. Teichmann, Chiara Wittmann, Sonia R. Boticiu, Bruno Sergio S Sergi","doi":"10.1108/jfc-11-2023-0303","DOIUrl":"https://doi.org/10.1108/jfc-11-2023-0303","url":null,"abstract":"Purpose\u0000The purpose of this paper is to examine the influence that the occurrence of greenwashing has on the consumer perception of corporate social responsibility (CSR).\u0000\u0000Design/methodology/approach\u0000This paper observed the market indication that a consistent undermining of authentic commitment to CSR taints consumer perception. Investigating how the motivations behind greenwashing contribute to the presentation of CSR was the first means of examining the market forces. Consumer orientation was used as a guiding principle to consider the short- and long-term perspective of a greenwasher.\u0000\u0000Findings\u0000Individual instances of greenwashing contribute to a collective deterioration of marketplace trust in the promises of CSR. The negative influence on CSR is not isolated to the greenwashing perpetrator but casts a wider effect. The consequences of greenwashing are not isolated but widely dispersed.\u0000\u0000Originality/value\u0000Whilst much of the literature focuses on the stigmatisation of individual firms, it is crucial to note how marketplace trust is eroded. In addition, the perception of CSR-related regulations is for example influenced but rarely recognised as a consequence of greenwashing behaviour.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"12 33","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140745698","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-28DOI: 10.1108/jfc-01-2023-0008
Tarjo Tarjo, Alexander Anggono, Zakik Zakik, S. Nordin, Unggul Priyadi
Purpose This study aims to empirically examine the influence of Islamic corporate social responsibility (ICSR) on social welfare moderated by financial fraud. Design/methodology/approach The method used was the mix method. The number of respondents was 410. They combined the moderate regression analysis with PROCESS Andrew F Hayes to test the research hypothesis. After conducting the survey, it was continued by conducting interviews with the village community and the head of the village. Findings The first finding of this study is that ICSR has a significant positive effect on social welfare. The second finding is that financial fraud weakens the influence of ICSR on social welfare. The results of the interviews also confirmed the two findings of this study. Research limitations/implications The high level of bias in answering the questions is due to the low public knowledge of ICSR. In addition, the interviews still needed to involve the oil and gas companies and government. Practical implications The main implication is improving social welfare, especially for those affected by offshore oil drilling. Furthermore, stakeholders are more sensitive to the adverse effects of financial fraud. Finally, to make drilling companies more transparent and on target in implementing ICSR. Originality/value The main novelty in this research is using of the mixed method. In addition, applying financial fraud as a moderating variable is rarely studied empirically.
目的本研究旨在通过实证研究，探讨伊斯兰企业社会责任（ICSR）在财务欺诈调节下对社会福利的影响。受访者人数为 410 人。他们将中度回归分析与安德鲁-F-海斯的 PROCESS 分析相结合，对研究假设进行了检验。调查结束后，继续对村社和村长进行了访谈。研究结果本研究的第一个发现是，综合社会保险改革对社会福利有显著的积极影响。第二个发现是财务欺诈削弱了综合社区服务对社会福利的影响。访谈结果也证实了本研究的这两项发现。研究局限性/意义由于公众对综合社区服务的了解较少，因此在回答问题时存在较大偏差。此外，访谈还需要油气公司和政府的参与。实际意义主要意义在于改善社会福利，尤其是受海上石油钻探影响的人群。此外，利益相关者对财务欺诈的负面影响更加敏感。原创性/价值本研究的主要创新之处在于使用了混合方法。此外，将财务欺诈作为调节变量的实证研究也很少见。
{"title":"The impact of Islamic of corporate social responsibility on social welfare with financial fraud as moderating: study in Indonesia","authors":"Tarjo Tarjo, Alexander Anggono, Zakik Zakik, S. Nordin, Unggul Priyadi","doi":"10.1108/jfc-01-2023-0008","DOIUrl":"https://doi.org/10.1108/jfc-01-2023-0008","url":null,"abstract":"Purpose\u0000This study aims to empirically examine the influence of Islamic corporate social responsibility (ICSR) on social welfare moderated by financial fraud.\u0000\u0000Design/methodology/approach\u0000The method used was the mix method. The number of respondents was 410. They combined the moderate regression analysis with PROCESS Andrew F Hayes to test the research hypothesis. After conducting the survey, it was continued by conducting interviews with the village community and the head of the village.\u0000\u0000Findings\u0000The first finding of this study is that ICSR has a significant positive effect on social welfare. The second finding is that financial fraud weakens the influence of ICSR on social welfare. The results of the interviews also confirmed the two findings of this study.\u0000\u0000Research limitations/implications\u0000The high level of bias in answering the questions is due to the low public knowledge of ICSR. In addition, the interviews still needed to involve the oil and gas companies and government.\u0000\u0000Practical implications\u0000The main implication is improving social welfare, especially for those affected by offshore oil drilling. Furthermore, stakeholders are more sensitive to the adverse effects of financial fraud. Finally, to make drilling companies more transparent and on target in implementing ICSR.\u0000\u0000Originality/value\u0000The main novelty in this research is using of the mixed method. In addition, applying financial fraud as a moderating variable is rarely studied empirically.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"135 13","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140369680","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-21DOI: 10.1108/jfc-09-2023-0237
Anas Al Qudah, U. Al-qalawi, Ahmad A. Alwaked
Purpose This study aims to investigate the intricate relationship between corruption and the credit costs faced by small and medium-sized enterprises (SMEs) in OECD countries, a critical yet underexplored area in financial crime research. The primary aim is to dissect and understand how corruption impacts SMEs’ access to credit, highlighting a significant yet overlooked aspect of financial crime. This research seeks to fill a gap in the literature by providing empirical insights into the economic consequences of corruption, specifically on SMEs financing. Design/methodology/approach This study used secondary panel data from the World Bank and OECD databases. The data covered the period 2007–2020 for 25 OECD countries. This study used interest rate for SMEs loans as a dependent variable and GDP per capita, inflation and corruption index as independent variables. This study used the panel autoregressive distributed lag (ARDL) model to examine the relationship between variables. Findings The empirical findings derived from Panel ARDL postulate an intriguing dichotomy in the effects of GDP per capita, inflation rate and corruption on interest rates in both the short and long run. It was discerned that an increase in GDP per capita and inflation rate correlates with a decrement in interest rates in the long run, suggesting a potential compromise by central banks between controlling inflation and fostering economic growth. Originality/value This paper makes a novel contribution to the field of financial crime by illuminating the often-overlooked economic dimensions of corruption in the context of SMEs financing. It provides a unique perspective on the ripple effects of corrupt practices in credit markets, enriching the academic discourse and informing practical approaches to combating financial crime.
目的 本研究旨在调查腐败与经合组织（OECD）国家中小型企业（SMEs）所面临的信贷成本之间的复杂关系，这是金融犯罪研究中一个至关重要但却未得到充分探索的领域。研究的主要目的是剖析和了解腐败如何影响中小企业获得信贷，突出金融犯罪中一个重要但被忽视的方面。本研究旨在通过对腐败的经济后果，特别是对中小企业融资的影响提供经验性见解，从而填补文献空白。 设计/方法/途径 本研究使用了世界银行和经合组织数据库中的二级面板数据。数据涵盖 25 个经合组织国家的 2007-2020 年数据。本研究将中小企业贷款利率作为因变量，将人均国内生产总值、通货膨胀率和腐败指数作为自变量。研究结果从面板自回归分布滞后（ARDL）模型得出的实证结果表明，人均国内生产总值、通货膨胀率和腐败指数对利率的短期和长期影响存在着耐人寻味的两极分化。研究发现，人均 GDP 和通胀率的上升与长期利率的下降相关，这表明中央银行可能会在控制通胀和促进经济增长之间做出妥协。它以独特的视角揭示了信贷市场中腐败行为的连锁反应，丰富了学术讨论，并为打击金融犯罪的实际方法提供了参考。
{"title":"Deciphering the shadows: an empirical exploration of corruption’s impact on SMEs credit costs in OECD countries","authors":"Anas Al Qudah, U. Al-qalawi, Ahmad A. Alwaked","doi":"10.1108/jfc-09-2023-0237","DOIUrl":"https://doi.org/10.1108/jfc-09-2023-0237","url":null,"abstract":"Purpose\u0000This study aims to investigate the intricate relationship between corruption and the credit costs faced by small and medium-sized enterprises (SMEs) in OECD countries, a critical yet underexplored area in financial crime research. The primary aim is to dissect and understand how corruption impacts SMEs’ access to credit, highlighting a significant yet overlooked aspect of financial crime. This research seeks to fill a gap in the literature by providing empirical insights into the economic consequences of corruption, specifically on SMEs financing.\u0000\u0000Design/methodology/approach\u0000This study used secondary panel data from the World Bank and OECD databases. The data covered the period 2007–2020 for 25 OECD countries. This study used interest rate for SMEs loans as a dependent variable and GDP per capita, inflation and corruption index as independent variables. This study used the panel autoregressive distributed lag (ARDL) model to examine the relationship between variables.\u0000\u0000Findings\u0000The empirical findings derived from Panel ARDL postulate an intriguing dichotomy in the effects of GDP per capita, inflation rate and corruption on interest rates in both the short and long run. It was discerned that an increase in GDP per capita and inflation rate correlates with a decrement in interest rates in the long run, suggesting a potential compromise by central banks between controlling inflation and fostering economic growth.\u0000\u0000Originality/value\u0000This paper makes a novel contribution to the field of financial crime by illuminating the often-overlooked economic dimensions of corruption in the context of SMEs financing. It provides a unique perspective on the ripple effects of corrupt practices in credit markets, enriching the academic discourse and informing practical approaches to combating financial crime.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" 33","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140388149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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