Cross-border Transactions Research Articles

Consumer Protection in Business Law: Conflict of Norms and its Implications under Article 18 of Law No. 8 of 1999 on Consumer Protection

Consumer protection is an important aspect of business law that often clashes with the principle of freedom of contract. This paper analyzes the conflict between Article 18 of the Consumer Protection Law (UUPK) and Article 1320 of the Civil Code (KUHPerdata) in the context of consumer protection in Indonesia. The norm conflict arises mainly in the use of standard clauses in standard contracts, which can harm consumers. John Rawls' theory of justice and Gustav Radbruch's theory of legal certainty are used to understand how the law can balance the interests of consumer protection and freedom of contract. In addition, technological developments and globalization also complicate the application of GCPL in electronic and cross-border transactions. The author suggests several legal strategies to address this conflict, including revision of laws, integration of technology, and harmonization of international law. In conclusion, effective consumer protection requires a balance between substantive justice and legal certainty and adaptation to technological change and market dynamics.

Collaborative Development of Cross-border E-commerce and Agricultural Product Supply Chain: Opportunities, Challenges and Solutions

Abstract: The development of science and technology and the deepening of globalisation have opened up new directions for developing the agricultural industry. With the gradual expansion of the scope of Internet +, traditional trade has gradually evolved into e-commerce, and relatively simple domestic trade has gradually expanded into cross-border transactions. With the help of e-commerce platforms, sales channels can be expanded, and the share of agricultural exports can be increased. The development of cross-border e-commerce is highly valued and mutually supportive of the agricultural product supply chain (APSC), which promotes the international trade of agricultural products. Optimised APSC provide high-quality produce to meet consumer demand. Technological innovations such as big data and the Internet of Things (IoT) bring smart and efficient optimisation solutions to APSC, improving the efficiency of product distribution. This paper reviews the research on cross-border e-commerce and APSC by some scholars in recent years, summarises the current development of cross-border e-commerce, describes the problems of APSC, and proposes solutions. Reviewing and summarising the relevant research literature aims to help scholars understand the development of cross-border e-commerce and APSC more systematically and comprehensively, and to provide strong support for future research and practice.

Implementation of destination principle VAT on service exports in Indonesia: Analysis of PMK-32/PMK.010/2019 based on OECD guidelines

Value Added Tax (VAT) is applied based on two fundamental concepts: the origin principle and the destination principle. Under the origin principle, taxes are levied where goods or services are produced, while under the destination principle, taxes are imposed where the goods or services are consumed. This research focuses on analyzing how the destination principle is implemented in the imposition of VAT on service exports, as governed by Regulation of the Minister of Finance No. 32/PMK.010/2019 regarding the limitations on taxable activities and types of services whose exports are subject to VAT. The OECD International VAT/GST Guidelines are used as a reference in this analysis to reduce distortions in international trade and minimize the risk of differences in tax collection principles between countries. The results of the study show that PMK-32/PMK.010/2019 has implemented the destination principle in accordance with the OECD guidelines, but there are still several challenges in its implementation, especially in ensuring tax neutrality and legal clarity in cross-border transactions. This study provides important insights for policymakers in improving tax regulations to support sustainable and equitable economic growth.

Advanced Anomaly Detection Techniques for Online Payment Fraud

Online payment systems have become an essential component of today's digital economy, allowing for frictionless cross-border transactions. However, the increasing amount of digital payments raises the possibility of fraud.

Legal and Commercial Dynamics of E-Consumer Protection: Navigating Challenges in India's Digital Economy

India's digital economy has experienced rapid growth, significantly transforming consumer behavior and market practices. This expansion has underscored the critical need for robust e-consumer protection frameworks to address the rising incidents of fraud, data breaches, and unfair trade practices. This study delves into the legal and commercial dynamics influencing e-consumer protection in India, beginning with an exploration of the historical evolution of consumer protection laws. It analyzes key legislation such as the Consumer Protection Act, 2019, and the Information Technology Act, 2000, assessing their relevance and effectiveness in the digital age. The study also examines the commercial dynamics of India's e-commerce sector, focusing on various business models like B2C, C2C, and platform-based businesses, and their implications for consumer rights. Additionally, it identifies challenges such as enforcement issues, jurisdictional complexities in cross-border transactions, and the impact of technological advancements, including data privacy concerns and cybersecurity threats. A comparative analysis of international best practices, particularly from the EU and the USA, provides insights into global standards in e-consumer protection and how these can be adapted to the Indian context. The study concludes with policy recommendations aimed at strengthening existing legal frameworks, enhancing regulatory oversight, and encouraging self-regulation and ethical practices among e-commerce players. It also explores future trends and innovations that could further shape e-consumer protection in India. By addressing these challenges and proposing actionable solutions, the study offers a comprehensive understanding of the current state and future directions of e-consumer protection in India's evolving digital economy.

Analyzing Common Trade Risks Faced by Tanzanian Traders in International Transactions: A Case Study of Dar es Salaam Importers and Exporters

International trade is fraught with inherent risks that can significantly impact the efficiency and success of cross-border transactions. Tanzanian importers and exporters, particularly those navigating the complexities of the Dar es Salaam port, face challenges such as shipment delays, vague contract terms, and financial disputes. This study delves into how the strategic application of International Commercial Terms (Incoterms) serves as a powerful risk management tool, offering clarity and structure to international trade agreements. Utilizing a descriptive research design, we surveyed 96 traders and conducted in-depth interviews to capture their experiences with trade risks and their understanding of Incoterms. The findings reveal a widespread gap in formal training on Incoterms, leading to frequent logistical issues and contractual ambiguities that could otherwise be mitigated. This research highlights the urgent need for targeted educational programs to enhance traders’ knowledge of Incoterms and improve the overall efficiency of Tanzania’s trade environment. By embracing these standardized terms, Tanzanian traders can transform risks into opportunities, positioning themselves as key players in the global trade ecosystem. The study concludes with actionable strategies for improving Incoterm adoption and presents a roadmap for strengthening Tanzania’s competitive edge in international commerce.

Правовые основы и перспективы использования цифровых финансовых активов и цифровой валюты в трансграничных операциях

The article is devoted to the study of prospects for the use of digital financial assets, digital currency, as well as the digital ruble in cross-border operations, which could be considered as counter-sanctions measure. Special attention is paid to the adopted and pending amendments to legislation related to the use of digital assets and currencies in crossborder transactions, author analyzes possible models and mechanisms for conducting such transactions and the necessary infrastructural, economic and legal conditions for its implementation.

CARROT: Simultaneous prediction of anomalies from groups of correlated cryptocurrency trends

Cryptocurrencies are virtual currencies that exploit cryptography to perform secure financial transactions. They gained widespread popularity in recent years due to their decentralized nature, (pseudo-)anonymity, and ability to facilitate cross-border transactions without the need for intermediaries. However, their price on the market exhibits a huge volatility, that makes them prone to market anomalies. Therefore, predicting anomalies in cryptocurrency time series can be considered an important task for financial institutions, traders, and investors, to maximize their profit or minimize losses.In this paper, we propose a novel approach for predicting anomalies in cryptocurrency time series by exploiting temporal correlations among different cryptocurrencies. Our approach, called CARROT, is based on the idea that groups of cryptocurrencies exhibit similar trends, possibly due to common influencing factors. CARROT analyzes the temporal correlation between different cryptocurrencies, and identifies clusters showing similar patterns that can be useful for gaining insights into future anomalies. Subsequently, CARROT exploits multiple (i.e., one for each cluster) multi-target LSTM models to predict anomalies.Our experiments, performed on a dataset of 17 cryptocurrencies, proved that CARROT outperforms single-target LSTM models of up to 20%, as well as other approaches based on neural networks, i.e., MLP and CNN, in terms of macro F1-score. Therefore, the proposed approach can be considered as a promising tool for predicting anomalies in cryptocurrency time series data and can potentially be used to improve risk management and trading strategies in the cryptocurrency market.

The Effectiveness of 2020 E-Commerce Rules in Protecting Consumer Rights

This paper critically evaluates the effectiveness of India’s Consumer Protection (E-Commerce) Rules, 2020 in safeguarding consumer rights within the rapidly growing digital marketplace. The 2020 rules, introduced under the Consumer Protection Act of 2019, were designed to address challenges arising from the proliferation of e-commerce platforms, including issues related to transparency, grievance redressal, counterfeit products, and data protection. The paper examines how these rules have enhanced consumer protection by mandating clear product information, establishing robust grievance mechanisms, and promoting accountability among e-commerce platforms. However, the implementation of the rules faces several challenges, such as uneven enforcement across platforms, limited consumer awareness, and difficulties in regulating cross-border transactions. Additionally, the paper explores the gaps in data privacy protections and the ongoing issues of counterfeit goods within online marketplaces. While the rules represent a significant step forward in regulating the e-commerce sector, this analysis highlights the need for continued regulatory oversight, technological innovation, and consumer education to ensure that the rules are effectively implemented and enforced. The paper concludes that although the 2020 E-Commerce Rules have made strides in protecting consumer rights, further reforms are necessary to address emerging challenges and ensure equitable consumer protection in India’s expanding e-commerce ecosystem.

Cryptocurrency: A Global Need To Make One World, One Currency

The idea of cryptocurrency as a global currency has garnered significant attention in recent years, with proponents arguing that it could revolutionise the global financial system. This paper examines the potential of cryptocurrencies to serve as a global unified currency. By exploring the benefits of decentralisation, financial inclusion, and cost-efficient transactions, this research analyses how cryptocurrencies could simplify crossborder transactions and address economic disparities. However, critical challenges such as volatility, regulatory uncertainties, and technological barriers remain impediments to the widespread adoption of cryptocurrencies as a global standard. This study evaluates the prospects of a single cryptocurrency-based global economy and offers recommendations for overcoming key hurdles.

Comparative perspective on the Marrakesh Treaty and China’s copyright law: Differences and similarities

With the rapid development of globalization and informatization, the role of copyright law in balancing the rights and interests of creators and the public interest is becoming increasingly prominent. This article delves into the similarities and differences between the Marrakesh Treaty and China’s copyright law, particularly in terms of protecting the rights and interests of people with reading disabilities. The Marrakesh Treaty, as an important achievement of the World Intellectual Property Organization (WIPO), provides convenience for people with reading disabilities worldwide to access published works through limited copyright law modifications and exceptions. As a signatory of this treaty, China’s revision and implementation of its copyright law have a significant impact on the international intellectual property protection system. This article provides an overview of the background, core concepts, and limitations of the Marrakesh Treaty, and introduces the basic situation of China’s copyright law. By comparing the similarities and differences between the Marrakesh Treaty and China’s copyright law, this paper explores the provisions of both in protecting the rights and interests of people with reading disabilities, and proposes suggestions for improving China’s copyright law. These suggestions include clearly defining the scope of application of the treaty, expanding the definition of beneficiaries, adding cross-border transaction clauses for accessible works, reasonably avoiding technical protection measures, and strengthening the construction of implementation mechanisms and supervision systems. Although there are differences between the Marrakesh Treaty and China’s Copyright Law in protecting the rights and interests of people with reading disabilities, their common goal is to ensure that people with reading disabilities have equal access to cultural and educational materials through legal means, promote their social participation and cultural enjoyment. The revision process of China’s Copyright Law actively absorbs and transforms the provisions of the Marrakesh Treaty, demonstrating China’s efforts and determination in fulfilling international obligations, promoting social equity and inclusiveness.

Analysis of payment methods in merger and acquisition deals within the United Kingdom

Purpose This study aims to examine the effects of payment methods used in mergers and acquisitions (M&A) conducted by UK companies spanning the period from 2007 to 2019. Design/methodology/approach The study used the estimated expected returns method to identify abnormal returns during the deal announcement period, applying event study analysis with both univariate and multivariate regression models to detect cumulative abnormal returns around the announcement timeframe. Findings The results show a short-term positive return increase for acquiring firms, controlling for deal-specific characteristics like target firm location and payment methods. The authors observed a preference for cash financing across domestic and cross-border transactions. Multivariate analysis revealed insignificance between payment methods and deal characteristics like cross-border acquisitions and diversification. Research limitations/implications The study’s focus on publicly traded firms in the UK and the absence of a comparative analysis across different regions and markets limits the sample size and may impact the generalizability of findings. Practical implications The study proposes three practical implications. Firstly, firms should tailor payment methods to each transaction, aligning with strategic goals to optimize value and mitigate risks. Secondly, decision-makers must prioritize comprehensive due diligence and strategic alignment throughout M&A processes to enhance success and maximize synergies. Finally, analysing broader strategic contexts and regulatory landscapes when structuring transactions enables goal attainment, such as market expansion or value creation. Social implications The study’s findings can promote transparency and accountability among corporate decision-makers in M&A transactions. Stakeholders can advocate for transparent decision-making processes, enhancing trust in corporate governance. Originality/value This study provides valuable insights into the impact of payment methods on shareholder value in M&A transactions involving UK companies, informing strategic decision-making and contributing to the understanding of corporate finance dynamics.

The Role of the U.S. Dollar in Global Trade Finance: A Study of Its Dominance and Future Prospects

This paper digs deep on what reason has led the U.S. dollar to be a dominant force for years mainly due to its stability, liquidity, and greater usage within international markets. It has made it the world's reserve currency did not just serve as an enabler for far-flung international trades and investments but also led to the establishment of the United States in terms of standing in economic and geopolitical standing. Historical factors concerning the dollar's increasing popularity over time are addressed in this paper-from the post- WWII establishment of the Bretton Woods system to the moments well after the death of the gold standard. It further explores shifting threats to the supremacy of the dollar and key drivers that might change the financial environment in the world. These are the economic ascension of emerging markets, particularly China, seeking to internationalize the yuan; extension of the BRICS bloc, composed of Brazil, Russia, India, China, and South Africa, and their joint thrust toward depolarization. Digital currencies and blockchain technology provide an emerging alternative that would allow countries to bypass traditional banking systems or lessen their dependency on the dollar when making cross-border transactions. The discussion explores how geopolitical stress - whether a trade war or the imposition of sanctions, as examples - may push the shift away from the dollar, based on a focus on increasing foreign reserves' diversity and insulation against the over-reach of the US. In addition, the paper went through how adjustments in global financial regulation, technological innovation, and central banks' policies may have an impact on the safe-haven status the dollar enjoys. Through a combination of both quantitative and qualitative methods, this paper examines the continued relevance of the dollar at the international level in terms of trade and finance. Indeed, it envisions possible scenarios: the continued reign of the dollar, the emergence of rival currencies, and the new politics of global economic crises over currency dynamics. But if nothing else, it provides a more refined and multi- dimensional view of what is going on with the dollar today and what may go on in the future in an increasingly multipolar world economy. These insights will be critical when policymakers, financial institutions, and global businesses negotiate their way through uncertainty in changing currency landscapes. Keywords: U.S. dollar, global trade, finance reserve, currency economic, uncertainty emerging economies, digital currencies, geopolitical shifts currency competition.

Managing Currency Risk in Global Supply Chains: Resilience Strategies

Currency risk was a significant difficulty for firms involved in international commerce in the current global economy. The profitability and competitiveness of organisations with supply chains that span across borders were greatly affected by fluctuations in exchange rates. This introduction examined the intricacies of managing currency risk in global supply chains, investigating the most recent solutions used by organisations to strengthen their operations. Over the last 10 years, there has been an extraordinary increase in globalisation, characterised by more market integration and increased international trade. Nevertheless, globalisation brings with it not just benefits but also inherent concerns, with currency volatility being the most prominent among them. According to projections by Grand View Research, Inc., the global currency exchange market was expected to reach a value of $28.8 trillion by 2025. This highlights the significant currency risk that firms throughout the globe were facing. The emergence of the COVID-19 pandemic emphasised the need to effectively handle currency risk in worldwide supply networks. Amidst trade interruptions and shifting currency rates, economies faced increased uncertainty and volatility, which in turn affected enterprises. Research conducted by the Foreign Monetary Fund had shown that there was a significant increase of 59% in currency volatility during the early phase of the epidemic. This has worsened the difficulties faced by companies that heavily depend on foreign commerce. In light of this situation, companies were obligated to reevaluate their methods for managing currency risk to strengthen their ability to withstand challenges and reduce the possibility of financial losses. Conventional methods such as forward contracts and currency options, while somewhat successful, may not be enough to handle the intricacies of contemporary supply chains. As a result, organisations are using novel methods and technology to effectively manage currency risk. Recent developments in Financial Technology have created new opportunities for innovative currency risk management strategies. Blockchain technology had the potential to provide transparent and secure cross-border transactions, which helped decrease the risk of currency exposure. Moreover, the advent of Artificial Intelligence and Machine Learning algorithms enabled organisations to analyse extensive information and forecast currency fluctuations with enhanced precision. Collaborative alliances within supply chains provided a strategic opportunity to reduce currency risk. Companies may enhance risk mitigation and improve their ability to adapt to market dynamics by developing stronger connections with suppliers and consumers. This can be achieved via the exploration of collaborative hedging methods and the sharing of risk burdens. Nevertheless, effectively managing currency risk in international supply chains requires the ability to quickly adapt, come up with new ideas, and work together. This summary summarised important findings from the following conversation, emphasising the need for proactive risk management techniques in protecting against the uncertainties of the global economy. Keywords: Currency risk management, Global supply chains, Exchange rate volatility, International commerce, Financial technology (Fintech).

Preventing Tax Base Erosion from Tax Treaty Abuse For SDGS in Vietnam

Objective: Tax treaties represent an important aspect of the international tax rules of many countries, especially in globalizing era. The taxing rights of the states is one of the biggest issues in cross border transactions because it decides the budget revenue deriving from tax. Tax base, tax base erosion and tax base erosion prevention are topics that have received a lot of attention recently in Vietnam in order to protect government’s revenue for sustainable development goals (SDGs). Method: By analyzing the current status of Vietnam's double taxation agreements (DTAs), the authors assessed the current situation and identifying risks of tax base erosion from abusing Vietnam's DTAs. The study focuses on analyzing the indicators to assess the content of DTAs such as the Source Index (SI), Permanent Establishment Index (PEI) and Withholding Tax Index (WHT) of Vietnam’s DTAs with the ones of groups of countries. Results: The authors found that there are loopholes in DTAs creating conditions for abuses of the terms of the agreements and causing tax base erosion in Vietnam. Comparing to the average level of developing countries, the DTA system of Vietnam is higher, however, the biggest limitation and the biggest risk from the system of DTAs are these agreements are agreements signed by Vietnam with the countries/territories that have the lowest scores and are in the group of countries/territories with the largest amount of investment capital in Vietnam. Contribution: The study makes some recommendations for Vietnam to prevent tax base erosion from tax treaty abuse by reviewing and considering negotiating to update the content of the bilateral tax agreements, promoting participation in multilateral tax agreement and improving efficiency of tax audit.

ГОСУДАРСТВЕННОЕ РЕГУЛИРОВАНИЕ АРХИВНОГО ХРАНЕНИЯ ЭЛЕКТРОННЫХ ДОКУМЕНТОВ

The practice of using electronic document management in Russia, an electronic document and its storage of the document in an electronic archive is considered. The current state of electronic signature and ways of its development are presented. An assessment is made of the state project for the mutual recognition of qualified electronic signatures in cross-border transactions. Aspects of the use of electronic document management systems and electronic archive systems are revealed, taking into account their institutionalization, the stages of the formation of electronic signatures and electronic document management are formalized. The current requirements of Russian legislation regarding the regulation of electronic archives are considered. The practice of applying Order 77 of the Federal Archive, which covered not only the sphere of public administration, but also the sphere of commercial organizations, is analyzed. As an example of automation of archival storage of electronic documents, the Russian information system 1C:Archive is considered.

Problems of international politics: impact of globalization on politics

The concept of globalization is associated with the process of expanding crossborder transactions and interactions in the political, socio-cultural, and economic spheres. It describes the phenomenon of denationalization, which tends to be perceived as a political project. Globalization in the international political system is considered centralized due to its impact on external relations and its close connection with political structures and mechanisms. The creation of the necessary international rules and institutions is characterized by the fact that the concept of global governance is a political response to the processes of economic and social globalization. The influence of the era of globalization on the development of international politics and economic structures has turned out to be deep and complex, being the background for the creation of new political forms and stages of its development. The modern process of globalization is focused on international transformations in the field of politics and economics. It is important to emphasize the fact that the concept of globalization is a broad issue that is an integral part of every field of public activity. It can be described as an acceleration of global economic and political interconnections; the analysis of this phenomenon made it possible to assess the problems caused by its development. This article shows the importance of the globalized world for the life of individual states and international cooperation. The large-scale changes caused by globalization have proved its significant role for cultural, social, economic, and political formation at the international level. The research was based on the theory of globalization, the concept of sustainable development, and the theory of competition. Conclusions. The impact of globalization is felt most strongly when it comes to identity, whether it is an individual or a community. Although globalization can have positive effects, this phenomenon needs to be critically assessed in order to ensure that its negative consequences are understood, studied, and effectively addressed.

Strategic Process of Mergers and Acquisitions Market Plans

Merger and acquisition activity in India is booming, the percentage of cross-border transactionshas risen significantly. Flow of FDI’s is greatly encouraged with enactment of new laws and tweaking ofexisting policies. In the IT sector phenomenal growth of cross-border transactions is recorded. Foreignonline firms are focusing on companies in the digital space to gain access to skilled talent and aburgeoning market. However there are factors that need to be ascertained in order to fine-tune theecosystem to be more attractive to the investor community. What emerges from these facts is that thecountry’s regulatory regime has to be thoroughly reviewed in order to devise measures to fine-tune itoptimally for the growth and prosperity of the country’s IT sector. The two biggest obstacles in the wayof completing a merger or an amalgamation remains the often long drawn procedure required for thesanction of a scheme of arrangement and achieving a culture synergy between the combining entities.

Blockchain Technology Application and Potential in the Global Securities Trading Market

With the rapid development of financial technology, blockchain technology is gradually permeating the global securities trading market. This paper delves into the current status of blockchain technology applications in this field, covering key aspects such as trade settlement and clearing, securities issuance and trading, identity verification, and compliance management. Through detailed case studies, it powerfully demonstrates its significant reduction in settlement cycles and intermediate links, thereby improving trade efficiency; its substantial reduction in operational costs and additional expenditures due to human errors, thereby lowering costs; and its effective resistance to cyber-attacks through data encryption and tamper-proof characteristics, thereby enhancing security. At the same time, it explores the positive role of blockchain technology in improving market trust by offering transparent transaction records and reducing information asymmetry. The paper further analyzes the challenges faced by blockchain technology in the global securities trading market, including issues with technology maturity such as performance scaling and interoperability, regulatory and compliance issues such as incomplete legal frameworks and policy uncertainties, industry acceptance issues such as conservative attitudes from traditional institutions and insufficient technology popularization education, and security risks such as emerging vulnerabilities and private key management risks. On this basis, it provides a forward-looking outlook on the potential and development trends of blockchain technology in the global securities trading market in the future, including integration trends with other emerging technologies, its role in promoting cross-border transactions and financial market integration, the possibility of innovative financial products and services, and the resulting changes in market patterns. In summary, this paper provides a comprehensive and systematic study of the current status, advantages, challenges, and future development of blockchain technology in the global securities trading market, offering valuable references and insights for further development in this field.

The power of data: Transforming compliance with anti-money laundering measures in domestic and cross-border payments

Financial crime is on the rise. The interconnectedness of global payments is making illicit cross-border transactions increasingly frictionless, while digitisation has not only increased the attack surface but also enabled criminals to employ increasingly sophisticated methods to evade detection, such as social engineering. Compounding the threat is the ever-growing mountain of data being generated, which is threatening to drown detection and prevention efforts. It is clear that a new level of defence is required in the fight against financial crime. This paper argues that the implementation of data-driven technologies, with a focus on artificial intelligence (AI), is a near-term imperative for effective risk-based anti-money laundering (AML) compliance programmes in the payments industry, where legacy AML programmes over-rely on a rule-based approach with a checklist of predetermined rules and indicators to flag potentially suspicious activity. To support the development and implementation of such data-driven enhancements, this paper hones in on the current hurdles, and explains the benefits and technical aspects of AI integration, emphasising the foundational importance of ISO/IEC AI-related standards. Finally, the paper discusses future opportunities for broader collaboration to build stronger collective defences.