Bank Account Research Articles

Новые разъяснения Пленума Верховного Суда РФ о краже и мошенничестве в отношении денежных средств с банковского счета и электронных денежных средств

The article analyzes the latest recommendations of the Supreme Court of the Russian Federation, set out in the updated versions of the resolutions of the Plenum of the Supreme Court of the Russian Federation “On judicial practice in cases of theft, robbery and robbery” and “On judicial practice in cases of fraud, embezzlement and embezzlement”, regarding the determination of the moment of the end of theft in the form of theft and fraud, when they were committed in relation to such a specific subject as funds from a bank account and electronic funds, as well as issues of territorial jurisdiction. The author comes to the conclusion that it is necessary to adhere to a unified approach when determining the end of both theft and fraud, when they were committed in relation to funds from a bank account and electronic funds, regardless of the form in which the theft was committed, and to determine it from the moment of the seizure of electronic funds or funds from a bank account, as well as to determine the places of commission of the crime and the territorial jurisdiction taking into account the specifics of the subject.

Determinants of financial inclusion in Southeast Asia

ABSTRACT This study examines the determinants of financial inclusion – in terms of bank account ownership, formal saving, and formal borrowing – among countries in Southeast Asia. Using the World Bank Global Findex dataset, we document low rates of financial inclusion in Cambodia, Indonesia, Laos, Myanmar and the Philippines. Individuals’ access to finance through borrowing is also generally low. Results show that income, educational attainment, being employed, and mobile phone ownership are positively associated with all three financial inclusion indicators. Age effects are nonlinear and vary across the financial inclusion indicators. Post-regression estimates suggest that the likelihood of formal account ownership is highest for individuals between ages 25 and 35, while formal saving and formal borrowing is most prevalent for those between ages 35 and 65. In relation, we find that the key barriers to opening a bank account in these Southeast Asian countries include costs, bank proximity, lack of trust in financial institutions, and individuals’ inability to complete required documentation. Younger individuals and middle-income individuals are more hesitant to open a formal account if a family member has an account already. Policy interventions targeted at breaking down some of these barriers and widening access to finance would boost growth and inclusion in developing countries.

How informal financial service institutes facilitate the financial inclusion of low-income, unbanked consumers

PurposeThe present study aimed to provide an understanding of the roles of community-based financial service organizations (i.e. rotating savings and credit associations [ROSCAs] as institutional pillars in facilitating low-income, unbanked consumers’ access to informal financial services).Design/methodology/approachSemi-structured interviews were conducted with 39 low-income, unbanked consumers participating in ROSCAs in Pakistan, where only 21% of adults have a bank account and almost four out of five individuals live on a low income. The obtained data were analyzed using the thematic analysis technique.FindingsROSCAs’ regulatory, sociocultural and cognitive aspects facilitate low-income, unbanked consumers’ utilization of informal financial services owing to their approachability by, suitability for, and fairness to such consumers. Thus, they promote such consumers’ financial inclusion.Practical implicationsLow-income consumers are mostly unable to access formal financial services due to the existing supply- and demand-side impediments. Understanding ROSCAs’ institutional functioning can help formal financial service providers create more transformative financial services based on the positive institutional aspects of ROSCAs to enhance poor consumers’ financial inclusion and well-being.Social implicationsThe inclusion of low-income, unbanked consumers in formal banking services will help them better control their finances.Originality/valueMany low-income, unbanked consumers in developing countries utilize informal financial services to meet their basic financial needs, but service researchers have rarely investigated how informal financial institutions function. The present study showed that ROSCAs, as informal institutions, meet low-income, unbanked consumers’ personal, social and financial needs in a befitting manner, which encourages such consumers to use the financial services offered by ROSCAs.

Anemia Prevalence and Socioeconomic Status among Adolescent Girls in Rural Western India: A Cross-Sectional Study.

Anemia poses a significant challenge among Indian adolescent girls due to their heightened vulnerability, resulting from increased micronutrient requirements, rapid physical growth, menstrual blood loss, inadequate nutrition, and socioeconomic disparities. This study sought to evaluate the prevalence of anemia, along with socioeconomic and nutritional statuses among adolescent girls attending rural public schools in Pune, India. A sample of 400 girls was selected from 22 villages through Symbiosis International University. Hemoglobin levels were assessed using the HemoCue 201 system, while standardized protocols were employed for height, weight, and BMI-for-age measurements. Socioeconomic status was determined using the Kuppuswamy scale. The findings revealed an overall anemia prevalence of (42.75%), comprising severe (2.5%), moderate (21%) and mild (20.25%) cases. Additionally, a substantial proportion (74.6%) of girls were classified as underweight. Socioeconomic analysis disclosed that 64.25% of families belonged to the lower middle class, and 27% in the upper lower class. Anemia was more prevalent in young adolescent girls (10-14 years) and in the families of adolescents who had low income, were illiterate, unemployed, and belonged to the lower-middle class and upper-lower-class socio-economic status (SES) and did not have a bank account. Anemia was prevalent in adolescent girls and associated with low SES. This study underscores the limitations of relying solely on the distribution of iron and folic acid tablets to combat anemia. A holistic strategy is imperative, encompassing improvements in SES of families (literacy, employment and income), as well as initiatives aimed at enhancing the nutritional status of adolescent girls.

Awareness, perception, and utilization of the benefits of recently introduced health schemes among the general population of India: A narrative review

Several health schemes have been introduced by the Government of India in recent years. It becomes essential to know the usefulness of these schemes. This narrative review was done to discuss the awareness, perception, and utilisation of the benefits of recent health schemes. Four schemes either introduced or revised between January 2016 and December 2021 namely AB PM-JAY, PMBJP, NPY, and PMSMA were discussed. Thirteen original articles related to these schemes fulfilling inclusion/exclusion criteria were identified using Web of Science, Scopus, Google Scholar, Embase, and PubMed databases.
 
 Awareness about AB PM-JAY was absent among 22.7% to 77% participants. The prerequisites for beneficiaries like non-payment of professional tax and non-ownership of certain household equipment were responsible for missing the benefits among some poor participants. About one-fourth of the participants reported poor awareness and attitude towards PMBJP. To support PMBJP, people wanted doctors to take the initiative by endorsing and prescribing generic medicines available under this scheme. Awareness about NPY was absent among 8.5% participants. As many as 21.5% to 71.5% of tuberculosis patients did not receive its benefits. Only 7.3% to 52.6% of the tuberculosis patients received the first incentive within two months of intensive phase. Common problems reported were unavailability of savings bank account or Aadhaar number, particularly among those from rural areas. About one-fourth of patients utilised the money to meet their family expenses. Hardly 5% were aware of PMSMA and among them just 32% had utilised antenatal care services. Counselling services were not offered to some beneficiaries. Few shortcomings in these health schemes were identified which need to be addressed by the stakeholders.

A Study on Growing Popularity of Digital Wallets among Youngsters in Kerala

Any economy's lifeblood is seen as being money. Transactions are now simple in the current environment because to the constant advancement of technology, the internet, and mobile phones. Money transfers and other payment methods are offered on the market. The primary component of digitization is mobile wallets. As opposed to using cash, people prefer to make digital payments. People now prefer cashless transactions more than they did in the past due to demonetization and the unanticipated COVID outbreak. Because money notes are handled by many different people, the transmission of pathogens is also possible. Mobile wallets have greatly simplified and improved our way of living. A digital wallet safely and conveniently maintains all of the users' payment information. There is far less need to carry actual wallets as a result. Only the mobile wallet allows a smart phone to be used as a wallet. These wallets allow for the secure addition of money as well as direct bank account integration. India is moving towards a digital future. Digital wallets are a key component of the digitization process. Within this little time frame. Based on diverse observations, several academics from across the world have investigated digital wallets. However, there is no evidence that anyone has looked into how prevalent digital wallets are among young people. Therefore, the goal of the study is to determine how common digital wallets are among young people. In this study, the gender disparity in usage, transaction volume, usage experience, and transaction count in digital wallets is being examined.

Corporate governance and Islamic social reporting: Indonesia Islamic banking development roadmap era

This research examines the corporate governance effect on Islamic Social Reporting (ISR). This research was conducted in 2015-2022, used the ISR codification, collected from the annual reports of ten Indonesian Islamic banks, and applied the Stakeholder Theory approach which has never been done previously. The research results show that Board of Commissioners’ meetings, Audit Committee meetings, and Sharia Supervisory Board meetings significantly and positively affect ISR. These findings imply that supervision through the meetings of the Board of Commissioners, Audit Committees, and Sharia Supervisory Board plays a role in detecting ISR. Corporate governance in Islamic banks continuously seeks to maintain sustainability in Islamic banks, including the support for stakeholders. ISR is a form of Islamic bank accountability to show that Islamic banks always prioritize their stakeholders, including the support for the Indonesia Islamic banking development roadmap prepared by the Financial Services Authority.

Navigating the Halal Frontier: The Legality of Cryptocurrency in Islamic Finance

The popularity of virtual currencies has expanded dramatically in recent years. Seminars and conferences have been held to discuss the nature and feasibility of cryptocurrencies. Some argue that having a replacement for the current fiat currency system is a good idea since it does not need a bank account, tax payments, or audits, as cryptocurrencies do. Others argue that any means of payment other than the commonly recognised ones, such as cash, checks, DD, and so on, would allow for tax and audit evasion, which would have a huge detrimental impact on the government budget and the economy. The convergence of cryptocurrencies and Islamic finance has caused much controversy among the Muslim community about whether cryptocurrency transactions are permissible (halal) or prohibited (haram). This study investigates Islamic finance concepts as well as the technological and economic elements of cryptocurrencies in order to assess their conformity with Sharia law. It was found that cryptocurrencies are not Halal in Islam because they lack inherent value and are susceptible to additional regulatory oversight.

The Impact of Financial Inclusion Dimensions on Improving the Quality of Financial Reports Published by Banks: A Field Study on a Sample of Sudanese Banks

This study aims to investigate the impact of customers’ access to financial services on improving the quality of financial reports. It also explores how customer utilization of financial services and the quality of services provided enhance the quality of published financial statements. A questionnaire was directed at a sample of employees working in Sudanese banks, with a total of 30 respondents. After conducting the field study, the researcher confirmed the hypotheses and obtained several key findings. Notably, a significant obstacle to financial inclusion is the lack of awareness regarding its importance among a large segment of clients. Additionally, the high frequency of bank account usage indicates that many Sudanese society members are under the umbrella of financial inclusion. Financial inclusion is a governmental regulatory tool that controls bank accounts and safeguards clients. Given its impact on financial inclusion, improving the quality of financial reports becomes crucial. The researcher recommends several actions, including raising awareness about financial inclusion and using it to monitor investors within banks. This encourages clients to participate in financial inclusion. Furthermore, banks should emphasize the importance of enhancing financial reporting quality, as it leads to increased investment and engagement with financial institutions. Efforts to establish financial inclusion in the Sudanese banking environment should be intensified, bolstering confidence in the banking sector. Finally, banks should provide specialized services for individuals with limited income and seek help from regional experiences.

Gender-based policies and women’s entrepreneurship: an fsQCA analysis of sub-Saharan African countries

PurposeEntrepreneurship policy is a vital component of any entrepreneurial ecosystem. However, the specific policy initiatives that have a greater impact on women's entrepreneurship remain unclear in many developing economies. Therefore, this study aims to evaluate the effectiveness of entrepreneurship policies targeted at women’s entrepreneurship in sub-Saharan Africa (SSA).Design/methodology/approachEmploying fuzzy-set qualitative comparative analysis (fsQCA), this paper utilises and analyses secondary data collected by the World Bank's Women, Business, and the Law (WBL) from 1970 to 2020, encompassing 48 countries within SSA.FindingsThrough our analysis, we identified two configurations that sufficiently support women's entrepreneurship. First, a combination of gender-based policies focussing on enabling “access to credit” and “signing of contracts”; and second, a blend of policies supporting “signing of contracts”, “business registration”, and “opening a bank account”, represent significant antecedents to supporting women's entrepreneurship. These distinct pathways are crucial to fostering women’s entrepreneurship in the SSA region.Research limitations/implicationsThe study's findings indicate that the impact and effectiveness of entrepreneurship policies targeted at women entrepreneurs in developing economies depend on the effectiveness of other policies that are in place.Originality/valueThis study offers new insights into the intricate interrelationship between entrepreneurship policies and women’s entrepreneurship in developing countries by considering the interdependence and combinative value of gender-based policies that effectively support women’s entrepreneurship in sub-Saharan Africa.

Payment banks — A new milestone for banking penetration in India

The purpose of the banking sector in the country is to provide banking services to all the people with a simple and easy manner with this view, PMJDY was introduced in 2014 to provide bank account to unbanked people free of cost and with simplification of KYC norms. All the incentives and monetary benefits to the targeted people will reach only through direct benefit transfer scheme which is linked with bank account and Aadhar. Banks also concentrate on urban and unbanked areas through single window banking and post office savings bank scheme. With this view, payment banks play a key role in banking penetration in the country. This paper made an attempt to discuss performance of payment banks with respect to financial performance.

The Effect of Job Loss on Bank Account Ownership

AbstractWe estimate the effect of job loss on households’ bank account ownership using novel data: Federal Deposit Insurance Corporation (FDIC)‐sponsored biennial supplements to the Current Population Survey (CPS), linked to respondents’ work history in surrounding months constructed from the Basic Monthly CPS. Leveraging differences in the timing of unemployment spells across households, we show that job loss leads to a large decrease in the likelihood of having an account among the lower‐income, renter households we study. Job loss also leads to increased use of other products and services that might substitute for a bank account, including prepaid cards, check cashing, and money orders.

Gender difference in financial behavior: a comparative analysis

Purpose- Definition of financial inclusion; FI enables adults to access and efficaciously use a range of proper financial services. It plays a crucial role in raising economic growth in point of industry, firm and national level. Accessing to the products and services are achievable with financial inclusion. In the world, financial access is not reachable due to socio-economical reasons. Financial inclusion should involve the obstacles facing, reaching out access. This has an effect on decision makings and financial behaviors. However, gender disagregated statistics are not common in literature. All economies may reach economic growth, recognizing gender differences, and enhancing awareness among households. Aim of this study is to figure out the investing / borrowing behaviors of households. This study seeks “is there a gender difference in the level of financial behavior for Turkiye?”. Methodology- We employ a questionnaire to figure out if there exists a gender difference about various metrics in financial behavior. In the research method of this study, comparative analysis was made to reach out gender differences of respondents regarding financial behavior using excell with the help of coding. Google questionnaire prepared by authors was pre-tested and then authors maintaing to send the questionnaire via social media. 102 respondents were reached out. Firstly, it was made demographic analysis of respondents, and then it was analysed the financial behavior of respondents. Findings- Findings prove the fact that there is gender difference in behavior of making payments, savings, daily life, auto and home needs, making decisions, QR Code usage, awareness of Fintech products and number of credit cards. Majority of respondents feel confident about private pension system.. However, there is slightly difference in number of private pension contracts. In general, all respondents own a bank account. Money transfer, using a bank application behavior, does not differ among individuals. Conclusion- Based upon the analysis, it may be concluded that financial behavior affects individuals’ choices and this generates differences in terms of usage, needs, decisions and awareness. Socio-economical factor plays a crucial role regarding generating awareness in financial behavior. Keywords: Financial behavior, gender differences, financial inclusion, financial literacy, behaviors of households. JEL Codes: G40, G41, M10

A RESEARCH ON INVESTIGATING CUSTOMER CONTENTMENT AND ATTITUDES TOWARDS INTERNET BANKING FACILITIES IN SALEM DISTRICT

In our fast-paced lives, we are constantly being tested on our skills and endurance. Everyone must strive to find ways to save time. One of the innovative advancements that allows customers to carry out their financial transactions from a physical or online bank, credit union, or other financial institution on a secure platform is online banking. Online banking, also known as electronic banking, is the digital delivery of traditional banking services and products to customers directly through electronic, interactive communication channels. It offers customers numerous benefits and conveniences over traditional banking. Online banking is a fast and convenient way to access your bank account using your mobile phone. Online banking uses the internet to facilitate financial transactions. When it comes to everyday tasks, bank transfers are a thing of the past thanks to online banking services. One of the most popular services offered by banks is online banking, making it a highly reliable platform. Banks often use encryption systems to safeguard the security of all customer data and prevent data breaches. Ultimately, it protects against online fraud and account manipulation. The speed of internet access, the new online banking features, and the frequency of online banking usage all impact how quickly online banking develops in each country. When the operations of banks and financial institutions are combined with information technology, online banking is created in the banking sector. Therefore, this study aims to provide an analytical view of customer satisfaction and preference for online banking services in Salem district.

Phishing URL Detection using Machine Learning

Phishing attack is an easy way to obtain sensitive information from innocent users and also there are many tools and techniques available to do so. The main aim of the attackers is to get the critical information like username, password, bank account details and etc. and by this they can harm the innocent users. As a security perspective there should be a system or tools that would be able to overcome such issues. So this paper deals with machine learning technologies for the detection of phishing URLs by analyzing and extracting different types of features of legitimate and phishing URLs. Various machine learning algorithms like Decision Tree, Random Forest and Support Vector Machine are used to detect phishing websites. Aim of this paper is to detect phishing urls as well as narrow down to best machine learning algorithm by comparing the accuracy rate, false positive and false negative rate of each algorithm

Nirav Modi: A Case Study on Banking Frauds and Corporate Governance

In August 2018, Interpol and the Indian government filed charges against Belgian businessman Nirav Deepak Modi, who is wanted for illicit breach of confidence, deceiving, and dishonesty. The charges include illegal property dealing, corruption, criminal conspiracy, money-laundering, cheating, embezzlement, and contract breaching. Nirav is under investigation in connection with Punjab National Bank's $2 billion fraud scandal, later in March 2018, he filed for bankruptcy in The United States of America. Finally, in June 2018, he was traced in the United Kingdom, where he is living by taking political asylum. Further, in June 2019, the total assets of US$6.6 million were frozen in his Swiss Bank Account. Corporate Governance initiatives were laid down by government officials and intervention by reserve Bank was seek in the case to avoid future occurrence of such fraudulent practices.

How do transaction costs influence remittances?

Using a new quarterly panel database on remittances, this paper investigates the elasticity of remittances to transaction costs using local projections. The findings suggest that cost reductions have a short-term positive impact on remittances within a quarter, before they stabilize at a higher level. According to our estimates, reducing transaction costs to the Sustainable Development Goal target of 3 percent could generate an additional US$32bn in remittances, higher than the direct cost savings from lower transaction costs, thus suggesting an absolute elasticity greater than one. The cost-elasticity exhibits some heterogeneity along several characteristics of the recipient country, notably competition in the remittance market, financial sector deepening, correspondent banking relationships, transparency in remittance costs, financial literacy and ICT development. Micro data from the USA-Mexico corridor confirm that migrants facing higher transaction costs tend to remit less, and that this effect is less pronounced for skilled migrants and those that have access to a bank account.

Хищение безналичных средств: новые ориентиры для правоприменителя в определении места и времени совершения преступления

The practical relevance of the norms providing for liability for theft from a bank account revealed the lack of uniformity in the qualification of objectively similar acts, determining the adoption in 2021 by the Plenum of the Supreme Court of the Russian Federation of acts that guide the law enforcement officer on the issues of distinguishing between related compositions and determining the place of theft of electronic money, linking it with the location of the credit institution servicing the victim’s card. The implementation of the new approach led to a bias in the workload of law enforcement agencies, determining a change in the position of the Plenum in 2022, which “transferred” the place of the theft to the place of “withdrawal of funds”, and the place of fraud to the “place of action by the person”. The new benchmarks make it possible to decentralize remote theft from credit institutions, solving organizational issues, but may destabilize the practice of determining the moment when the types of theft in question end and pose a threat of infringement on the rights of victims.

When two worlds collide: digital assets and your estate plan

Abstract With the digital world being forced to interact with the physical world when it comes to death and the transfer/succession of asset ownership, we currently have two very different worlds colliding. Even in our technology-focused world, people’s estate plans still only account for “traditional” assets, like a car, bank account, house, etc., whereas more and more individuals own digital assets. Planning for digital assets is much more involved than one may think; different laws and classifications of digital assets make planning for these types of assets very specialized, as you are working with a real risk that a digital asset may be lost forever.

In Case You Haven't Heard…

Checks are being written from the opioid settlement fund bank account, and news reports scattered across the nation feature proud local officials talking about what they're going to do with the money, which, although it's in the millions of dollars per county, isn't going to be enough. For example, in Huntington, West Virginia, $2.7 million will be used for its comprehensive opioid abatement plan that includes treatment. Last week, Huntington city attorney Rusty Webb presented the first of 14 checks to the city council, according to a report in local newspaper The Herald‐Dispatch. “The City of Huntington was the first city in West Virginia, and if I'm not mistaken, in the country to take out a lawsuit against the distributors as well as the manufacturers of opioids trying to fight that scourge,” Huntington Mayor Steve Williams said. Williams added that the six‐year battle for the money could not have been accomplished without the help of Webb, who is one of the private attorneys suing on behalf of localities for the funds.