Financial Transaction Analysis Research Articles

Prevention and control of money laundering crimes on know your customer principles application: empirical study of Indonesia banking sector

Purpose The purpose of this paper is to find out the role and factors that lead to efforts by banking institutions to deal with money laundering by using the principle of knowing your customer. Design/methodology/approach This research method uses a sociological juridical approach and descriptive analysis in analyzing the data. Findings The results of the study found that the implementation of the principle plays a role in identifying each transaction, and if there is a transaction that is considered suspicious, each bank is required to report the transaction to the center for reporting and analysis of financial transactions. Practical implications Banks must reduce the risk of being used as a means of money laundering by knowing customer identities, monitoring transactions, maintaining customer profiles and reporting suspicious transactions made by parties using bank services. The application of the know your customer principle (KYCP) is based on the consideration that KYCP is not only important in the context of eradicating money laundering but also in the context of implementing prudential banking to protect banks from various risks in dealing with customers. Originality/value To the best of the author’s knowledge, this is first empirical study of banking in Indonesia that conduct money laundering crimes through application of KYCPs.

Application of Embedded Voice And Digital Forensics System In Financial Cost Management In Biotech Companies.

Financial cost management is a critical component of business operations in the biotech industry. Embedded voice and digital forensics systems are emerging technologies that can improve the efficiency and effectiveness of financial cost management. This abstract explores the application of embedded voice and digital forensics systems in financial cost management in biotech companies. The study highlights the potential of these technologies to enable real-time monitoring and analysis of financial transactions, enhance fraud detection and prevention, and optimize financial cost management. The study reviews the various applications of embedded voice and digital forensics systems in biotech companies, such as invoice processing, expense tracking, and vendor management. The study examines the benefits of using these technologies in financial cost management, such as improved accuracy and efficiency, reduced costs, and enhanced data security. The study also discusses the challenges of implementing embedded voice and digital forensics systems in biotech companies, such as data integration, system interoperability, and organizational resistance to change. The study concludes that embedded voice and digital forensics systems are valuable tools for financial cost management in biotech companies, enabling real-time monitoring and analysis of financial transactions, enhancing fraud detection and prevention, and optimizing financial cost management. The integration of these technologies in biotech companies can improve operational efficiency, reduce costs, and enhance data security, ultimately contributing to the growth and success of the biotech industry.

Classification of financial monitoring objects: criteria and indicators of suspicion

Problem setting. The problem of legalization (laundering) of money and other property acquired by criminal means is of great importance for Ukraine, because the criminalization of the economy is the main threat to the economic security of the state. In order to successfully combat this negative phenomenon, it is necessary to constantly develop and improve the processes of identification and analysis of financial transactions that are the objects of financial monitoring. Detection of such transactions requires clear criteria and indicators that allow you to quickly and accurately identify among the range of financial transactions those related to money laundering. The list of criteria and indicators of suspicion of financial transactions is large and sometimes ambiguous in terms of its interpretation and application. This issues is important because it is about the scope of law, the subjective rights of participants in financial transactions, the ownership of such persons in their assets and the level of trust in entities that provide financial and other services. The purpose of the research is to study the legal norms in the field of establishment and classification of financial monitoring objects – types of financial transactions depending on the criteria and indicators developed by the subjects of state financial monitoring and supplemented by the subjects of primary financial monitoring. Analysis of resent researches and publications. The solution of problems of legal regulation of the national system of financial monitoring in Ukraine (procedures, methods, risks, criteria, indicators etc.) was devoted to the works of such scientists as A. P. Gavrilishyn, I. M. Patyuta, B. M. Surkalo, O. E. Kostyuchenko, K. A. Kryvulya, Zh. I. Dovgan, I. G. Biryukova, V. M. Berizko and others. However, the issue of classifying financial monitoring objects according to the criteria and indicators of suspicion is important and necessary, because it is on such indicators that all activities in the field of financial monitoring are based and the results of such activities depend on their establishment. Article’s main body. The list of criteria and indicators of suspicion of financial transactions and their classification as objects of financial monitoring is quite wide. Their classification according to the relevant criteria is necessary and enshrined in law, which is important to prevent their unrestricted spread. At the same time, the subjects of state financial monitoring at their own discretion, but taking into account the main requirements of the legislation in the field of financial monitoring, develop and establish the grounds for classifying a financial transaction as an object of financial monitoring. In turn, the subjects of primary financial monitoring at their own discretion, but taking into account the rules and subjects of state financial monitoring, supplement, expand and improve this list in order, on the one hand, to prevent the legalization (laundering) of proceeds from illegal by and their entry into the financial system of the state and, on the other hand, compliance with the subjective rights of customers – participants in financial transactions. Conclusions. The article examines the legal norms in the field of establishment and classification of financial monitoring objects – types of financial transactions depending on the criteria and indicators developed by the subjects of state financial monitoring and supplemented by the subjects of primary financial monitoring. It is concluded that the identification of transactions that are the objects of financial monitoring requires clear criteria and indicators that allow you to quickly and accurately identify among the range of financial transactions those related to money laundering. Risk criteria by type of client, by geographical basis, by type of service (product), by service supply channel (product) are considered. Differentiated indicators of suspicion of financial transactions into indicators related to the activities or behavior of the client, indicators related to the financial operations of the client and indicators for different types of products (services). It is emphasized that the problem of defining clear and standard types of criteria and indicators of financial transactions is important and relevant in the current relations in the field of financial monitoring between the state and the participants of the respective financial transactions.

Pertanggungjawaban Pelaku Tindak Pidana Narkotika dan Tindak Pidana Pencucian Uang

Tindak pidana narkotika merupakan salah satu kejahatan luar biasa sehingga diatur secara khusus dalam undang-undang tersendiri yaitu Undang-Undang Nomor 35 Tahun 2009 tentang Nark.otika. Para pelaku maupun pihak-pihak lain yang terlibat dalam tindak pidana narkotika tentunya memahami kosekuensi berat terhadap apa yang mereka lakukan. Berkenaan dengan permasalahan di atas, terdapat satu putusan yang menarik untuk dikaji dan dianalisis, yang telah diputuskan oleh majelis hakim adalah putusan nomor: 124/Pid.Sus/2016/PN.TJK yang mana pelaku melakukan dua delik sekaligus sehingga penjatuhan hukuman pun apakah sudah berkeadilan. Studi ini akan fokus kepada permasalahan hukum yakni mengetahui pertanggungjawaban terhadap pelaku tindak pidana narkotika dan tindak pidana pencucian uang. menganalisa putusan pengadilan Nomor: 124/Pid.Sus/2016/PN.TJK apakah sudah memenuhi rasa keadilan yang berkemanfaatan. Penelitian ini menggunakan pendekatan Yuridis Normatif dengan menganalisis suatu putusan pengadilan. Adapun hasil penelitian yang didapatkan bahwa: Menurut analisis peneliti dilihat dari pertanggungjawaban pidananya sudah memenuhi unsur kesalahan, kemampuan bertanggungjawab, sikap batin jahat, dan tidak ada alasan pemaaf. dan Putusan Pengadilan Nomor: 124/Pid.Sus/2016/PN.TJK sudah memenuhi rasa keadilan yang berkemanfaatan. Berdasarkan penelitian menunjukan bahwa putusan yang diberikan sudah termasuk adil karena perbuatan terdakwa tersebut sudah merusak generasi bangsa dan mengingat perbuatan terdakwa tersebut melakukan dua delik sekaligus yakni melanggar Pasal 131 Undang-Undang Nomor 35 Tahun 2009 tentang Narkotika dan Pasal 5 ayat (1) huruf c Undang-Undang Nomor 8 Tahun 2010 tentang Pencegahan serta Pemberantasan Tindak Pidana Pencucian Uang. Adapun saran yang dapat disampaikan dalam penelitian ini Sebaiknya polisi dalam upaya mencegah terjadinya peredaran narkotika dan pencucian uang agar berkoordinasi dengan baik kepada pusat penelusuran analisis transaksi keuangan dan juga badan pertanahan nasional agar aset-aset para pengedar atau penjual narkoba bisa terlacak dengan baik.

Geographical linkages in the financial services industry: a dialogue with organizational studies

ABSTRACTGeographical linkages in the financial services industry: a dialogue with organizational studies. Regional Studies. This article proposes a conceptualization of the geographical linkages in the financial services sector based on boundary-spanning activities. In doing so, it seeks to open a dialogue between organizational sociology and regional development that goes beyond an analysis of financial transactions and asset prices to the informational content shared between organizations within a city, country or region. This conceptual approach offers new insights into why and how geographical linkages emerge within and between financial services organizations. This article foreshadows the utility of this approach by way of an illustrative case of HSBC, the ‘world’s local bank’.

Corpo-bureaucratizing Community Forest: Commercialization and Increased Financial Transaction in Community Forestry User Groups in Nepal

Based on the analysis of financial transactions and decision making procedures in Community Forest User Groups (CFUGs) in Nepal, this paper argues that community forestry is adapting techno-bureaucratic and corporate culture, replacing indigenous ways of community governance and by placing market elements into existing hierarchies and power asymmetries of local communities. It also argues that the trend of commercialization in community forestry has increased not because of the rational economic decisions made not on the basis of increased demands and surplus supply but because of a combination of economic and non-economic factors that create conditions necessary for commercialization as the next possible step in community-managed resources. In doing so this paper attempts to understand the dynamics, mechanisms and extent of CFUGs’ financial transactions through conceptualizing links of community forestry with extra-local economic forces, and also provides alternative ways of managing community resources for increased pro-poor outcomes. This study is based on in-depth analyses of national and district databases of CFUG funds, and ethnographic studies of 8 selected CFUGs from different parts of the country.DOI: http://dx.doi.org/10.3126/jfl.v9i1.8587 Journal of Forestry and Livelihood Vol.9(1) 2010 1-15