Current Transactions Research Articles

Typical Investigative Situations at the Initial Stage of Investigation of Criminal Currency Transactions and Their Resolution

This article examines typical investigative situations at the initial stage of the investigation of illegal currency transactions, the responsibility for which is provided for in Articles 193 and 193.1 of the Criminal Code of the Russian Federation. Within the framework of the article, the author analyzed the content of existing forensic methods for investigating these crimes, presented approaches to defining the concept of an investigative situation that have developed in forensic science, and highlighted the basic principles of the formation of investigative situations. In addition, an individual al gorithm of procedural actions is proposed for each investigative situation that arises during the investigation of crimes provided for in Articles 193 and 193.1 of the Criminal Code of the Russian Federation.For the purposes of the study, the author conducted a survey among officials of the customs authorities of the Russian Federation specializing in the investigation of this category of crimes, the results of which are reflected in this article.

Анализ развития современной двусторонней торговли между РФ и КНР

Analysis of the development of trade and economic relations between the People's Republic of China (PRC) and the Russian Federation (RF) is an important aspect of research in the field of international economics and the development of economic relations between these two countries. Since 2022, trade turnover between them has been constantly increasing, setting new historical records. For about 14 years, China has been Russia's largest trading partner in many respects. The purpose of this article is to analyze the development of trade and economic relations between China and Russia over the past few years and identify prospects for future mutually beneficial cooperation. To do this, reports from customs departments of the two countries, expert reviews, and reports from public and private organizations have been used as the main sources of information. These sources provide detailed information on the flow of goods, currency transactions, investment projects, and other important aspects of the trade and economic relationship between the PRC (China) and Russia. Analysis of these sources revealed several key trends and factors affecting the development and prospects for mutual relations between the two countries. An increase in trade turnover was observed, as was an increase in China's share in Russian trade. Additionally, there was a diversification of the commodity structure and a deepening of investment cooperation. Problems faced by the two nations in the process of establishing economic ties were identified, along with their possible solutions. Based on this analysis, conclusions were drawn regarding the possible future evolution and prospects for mutually beneficial cooperation between China and the Russian Federation over the coming years.

Critical success factors of users’ continuous intention of adopting cryptocurrency exchanges: LAS-VICT principle

The proliferation of cryptocurrencies has contributed to the emergence of different cryptocurrency exchanges (crypto-exchanges). While these services may be regarded as FinTech, involving cryptocurrency as the major transaction currency has made these services potentially distinctive from other fiat-based FinTech services. Thus, the critical success factors of crypto-exchanges may not be identical to those of other fiat-based FinTech services. Grounded on theories related to FinTech and service varieties, we developed a survey and explored the role of different factors on users’ continuous intention of adopting the crypto-exchanges. Our results suggested that when users perceive specific crypto-exchange characteristics, they are more likely to adopt the exchange continuously. Combining previous literature, we name this set of factors “LAS-VICT principle”, including low user-burden, asset-light, scalability, variety, innovativeness, scalability, and transparency. However, users’ emphasis on factors may differ based on their cryptocurrency experience. Based on our findings, we provided some theoretical and practical implications.

К вопросу о типичных способах совершения валютных операций по переводу денежных средств в иностранной валюте или валюте Российской Федерации на счета нерезидентов с использованием подложных документов

Russian Customs Academy The article discusses typical methods of performing currency transactions for transferring funds in foreign currency or the currency of the Russian Federation to non-resident accounts using forged documents in the context of the criminalistic characteristics of the specified corpus delicti. Within the framework of the article, the features of the methods of committing a crime are given, the analysis of the causal relationship between the features of a particular method of committing a crime and the direction of withdrawing funds abroad is carried out. In addition, the article describes the difficulties of a legal and practical nature that determine the specifics of the commission of the crime in question. The methodology of the study is determined by the use of such research methods as: statistical (when identifying methods of committing a crime and their specific weight in the array of investigative and judicial materials studied), formal-logical (when establishing causal relationships). Using the methodology, the author identifies the ways of committing a crime provided for in Article 193.1 of the Criminal Code of the Russian Federation, the main cause-and-effect relationships formed during the commission of a crime.

A model for economic freedom on Mars

The momentum of human spaceflight initiatives continues to build toward Mars, and technological advances may eventually enable the potential for permanent space settlement. Aspirations for sustaining human life in space must be predicated on human factors, rather than technological constraints alone, and advances in models of governance and ethics are necessary as human civilization becomes a spacefaring species. This paper presents an idealistic but feasible model for economic freedom on Mars, which is situated within a framework in which Mars has been designated as a sovereign juridical peer to Earth. Under such conditions, Mars could maintain monetary stability through full reserve banking and a restriction on exchange with any fractional reserve Earth currencies, with a volume of circulating currency that changes based on the total population within fixed capacity infrastructure. Mars could maintain long-term political stability by diffusing the ownership of capital on Mars, which would allow all citizens of Mars to draw sufficient wealth from a combination of capital ownership and labor to live a good life. This model could also support limited tourism on Mars, in which real goods are exchanged for services but currency transactions between planets are prohibited. This model demonstrates the potential for a viable and sustainable economy on Mars that could conceivably be implemented, including on a sovereign Mars but also in other scenarios of space settlement. More broadly, this model illustrates that ideas such as diffuse capital ownership and limited government can enable freedom in space, and numerous models beyond a centralized world space agency should be explored to ensure the optimal governance of the emerging space economy.

Approaches in the monetary policy of the National bank of Ukraine to curb inflation and prevent rapid devaluation of the Hryvnia in wartime conditions

Introduction. Monetary policy serves as a fundamental component of the economic strategy of the National Bank of Ukraine (NBU), focused on ensuring price stability and fostering an environment conducive to economic growth, development, and increased employment levels within the country. Following the onset of large-scale military occupation in Ukraine, which inflicted significant damages on the national economy and disrupted international trade, the NBU has been compelled to take decisive actions. These measures aim to minimize the severe impacts of military operations on Ukraine’s banking and monetary systems and address multiple emerging challenges. The purpose of this paper is to explore the approaches of the NBU's monetary policy aimed at curbing inflation and preventing the rapid devaluation of the hryvnia during wartime conditions. Results. The strategy pursued by the NBU is directed towards securing both price and financial stability, which are essential for macroeconomic stability. The current state of Ukraine’s monetary policy reveals several institutional challenges, including unstable exchange rates, hryvnia devaluation, an expansion of the shadow economy, and a high volume of currency transactions within the country. During the conflict, the monetary and credit policies of the NBU prioritize fulfilling Ukraine’s defense needs, ensuring the functionality of financial markets, maintaining the smooth operation of banking and payment systems, controlling inflation, stabilizing the hryvnia, and safeguarding necessary levels of international reserves. Conclusions. A key mechanism for the NBU’s influence on inflation in Ukraine is the primary interest rate, which determines the rate at which the NBU provides funds to financial institutions. This key rate significantly impacts the interest rates commercial banks offer to individuals and enterprises, which in turn affects the inflation level.

Sharia Economic Law Analysis of Foreign Currency Buying and Selling In Forex Trading Transaction at PT. Didimax Berjangka

This research aims to determine the law of buying and selling currency in forex trading transactions at PT. Didimax Futures. Forex trading is a currency transaction from various countries involving major money markets and brokers and is carried out 24 hours a day. PT. Didimax Berjangka is the leading and first broker company in Indonesia. This research uses a qualitative approach with descriptive methods. The research results found that money cannot be used as a trading commodity, according to Al-Ghazali's opinion in the Book of Ihya Al-Ulumudin. However, based on the DSN-MUI fatwa Number 96/DSN-MUI/IV/2015 concerning Hedging Transactions, forex trading transactions are permitted because, in the fatwa, the laws of trading and forex are equated using mutual promises (muwa'addah). According to the author's analysis, forex trading transactions carried out by PT. Didimax is by the DSN-MUI fatwa because it uses a promise agreement (wa'ad) when carrying out transactions. In conclusion, it buys and sells currency in forex trading transactions at PT. Didimax Berjangka is permitted according to Sharia Economic Law.

Detection and Counting of Fake Currency & Genuine Currency Using Image Processing

In today's digital age, the proliferation of counterfeit currency poses a significant challenge to financial institutions and businesses worldwide. The detection and prevention of counterfeit currency transactions require advanced technological solutions to safeguard the integrity of financial systems. In our research, we present a novel approach to tackle this problem by leveraging image processing techniques. The proposed system utilizes state-of-the-art image processing algorithms to distinguish between fake and genuine currency notes accurately. By analyzing various features such as texture, color, and watermark patterns, our system can effectively identify counterfeit currency notes with high precision. Additionally, the system is capable of counting and validating genuine currency notes, providing a comprehensive solution for currency authentication and management. The integration of image processing technology into currency verification systems offers numerous benefits, including enhanced accuracy, speed, and reliability. Our research aims to contribute to the development of robust and efficient solutions for combating counterfeit currency fraud, thereby safeguarding the integrity of financial transactions and promoting trust in monetary systems.

The Interpersonal Hypersensitivity Formulation of Good Psychiatric Management as a Psychoeducational Intervention for Borderline Personality Disorder.

Interpersonal hypersensitivity (IHS) is a core organizing concept of Good Psychiatric Management, a generalist treatment for borderline personality disorder (BPD) that relies on basic tools most clinicians already employ yet is informed by an organized and evidence-based framework, developed for dissemination in various mental health care settings. We work in an inpatient psychiatric unit that specializes in the management of suicidal crises at the University Hospitals of Geneva, Switzerland. Because we see numerous patients with previously undiagnosed BPD during their first hospitalization, we have developed techniques and instruments to promote efficient and easy-to-implement psychoeducation. In this article, we propose a practical and user-friendly measure of IHS that is well-suited for use by multidisciplinary inpatient staff or outpatient nursing-based staff, the IHS Ruler, which is based on a visual analog scale. It is a pragmatic tool for preliminary psychoeducation for patients with BPD and their caregivers. Its ease of use and structured way of presenting the inner experience of these patients in relation to their current interpersonal environment allows caregivers to establish a framework for internal reflection and sharing, discuss the causes of current transactions, and illuminate larger patterns in the causes of the patient's crises. Ultimately, this process can help patients and the clinical staff supporting them anticipate future problems.

Research on Covert Communication Technology Based on Matrix Decomposition of Digital Currency Transaction Amount

Research on Covert Communication Technology Based on Matrix Decomposition of Digital Currency Transaction Amount

The Impact of Digital Currency on Demand for Money: Evidence from Indonesia

The purpose of this study is to examine the impact of digital currency transaction variables on the demand for money in Indonesia. The data used are data on the volume of mobile banking transactions, internet banking, interest rates, the level of currency fluctuations, and inflation on the demand for money for the period 2013 to 2022. Data analysis uses Autoregressive Distributed Lag (ARDL) cointegration method. The results of regression testing can be concluded that the long-term relationship is valid. In addition, using CUSUM and CUSUMQ from the quadratic test, the demand for money in Indonesia is relatively stable using the narrow definition of money, it implies that there haven't been significant and persistent shifts in either the mean or the variance of the narrow money supply. A stable demand for money suggests that the economic agents in Indonesia, such as households and businesses, are not undergoing substantial changes in their preferences or behaviors related to holding money. This stability can have implications for monetary policy and economic planning, as it indicates a certain level of predictability in the demand for money. However, it's crucial to keep in mind that economic conditions and factors influencing the demand for money can change over time. Therefore, continuous monitoring and periodic reassessment of the stability of the demand for money are necessary for accurate economic analysis and policy formulation.

Методы борьбы с отмыванием средств в транзакциях с цифровым рублем

The article presents a comprehensive analysis of modern methods of combating money laundering in transactions with digital ruble. Given the growing adoption of digital technologies and the increasing role of electronic payments, the need to adapt financial control mechanisms becomes obvious. The article highlights key problematic aspects in the field of security of digital currency transactions and demonstrates actual methods of their solution.

Accounting for complementary currency transactions (the case for France)

The purpose of the study was to analyze the complementary currencies projects (СС-projects) implemented in France during the last decades. The active promotion of those projects in various countries has highlighted the problem of accounting and tax accounting for transactions of the currencies supplementing the national ones as a means of payment. There were questions about how to reflect and record such payments in invoices; whether it is necessary to purchase additional software for the cash register, etc. The author of the article proved that the use of complementary currencies does not significantly affect the billing and cash accounting, as well as the collection of commercial taxes, since the sales are always recorded in the national currency and in the same currency are transferred to accounting for further documentation (in this case, in euros). The tax reporting within the CC-projects is identical to the standard formalized one, however, the payment terms contained in it include an additional payment method. the methodological basis of the study was a system- functional approach and comparativistics. the results of the work have revealed the specifics and key problems of forming a legislative framework for innovative projects aimed at introducing new effective payment instruments into the sphere of commodity- money relations at the regional and local levels, and may be of interest to economists and representatives or specialists of taxation and financial services of Russia.

The Frameworks of Cross Border Cryptocurrency Transactions Between Two Countries

Cross border payments have been the biggest challenges in overseas business transactions. It is characterized by frauds, lack of security, money laundering, transactions delays, and huge transactions cost. The aim of this paper is to introduce new model of cross border digital currency transactions that would use the cryptocurrency from two different countries. The model has adopted the blockchain technology to authorize the smart contracts and proof of works under the monitoring of central banks of participating countries. In this model each country would adopt its own digital currency equivalent to the fiat/cash money value. Unlike the traditional blockchain networks which is considered to be decentralized systems, this model has deployed centralized blockchain networks under the control of central banks. All nodes in the network will be owned by central banks that would records and trace any transactions by using blockchain technology. Apart from central banks, this model includes local banks, and digital forex exchange market as their main stakeholders to serve the customers. As a centralized system, any smart contracts and proof-of-works resulted from any desired transactions is validated by the central banks of participating countries before execution. The customers have been losing their money during transactions through decentralized privately owned digital currency exchange vendors due to the lack of enough network policy to counter any fraud or suspicious transactions. Also, the cross-border transactions are encountered by the excessive of fees such as, agent fees, oversees fees, transactions fees, and exchange fees. This system is usefully to secure and speedup the transactions, prevent any frauds, and to avoid the overseas financial organizations costs that has been incurred by the customers over the years. The governments around the world would have the total control of the monetary transactions if they deploy digital currency on their economy. However, they are required to tighten the security measures to prevent any security vulnerabilities, frauds, threats, and get rid of money laundering activities.

Integrate Yolov8 Algorithm For Rupiah Denomination Detection In All-In-One Smart Cane For Visually Impaired

The eyes are crucial tools for human observation and perception, facilitating various tasks in daily life. Individuals, including those with visual impairments or blindness, engage in currency transactions, posing challenges in recognizing notes and preventing mishaps with counterfeit money. Despite government efforts, features like embossing on banknotes have limited effectiveness due to the circulated currency's disheveled condition. Addressing the visually impaired community's needs is imperative. An innovative solution, the "all-in-one smart white cane," integrated with machine learning supports daily activities, enhancing independence for visually impaired individuals. The YOLOv8 algorithm is employed for the precise detection of monetary denominations, subsequently recorded through a camera and seamlessly integrated into a smart cane, resulting in a consolidated device. This device, designed with standout features, excels in detecting Indonesian Rupiah banknote denominations. Detection performance testing, incorporating methods like object rotation, utilized a dataset divided into training (70%), validation (20%), and test (10%) segments. Modifications to contrast and variability rotation are essential in the context of real-time nomination recognition. These adjustments are implemented to ensure accurate and swift identification in dynamic, real-world scenarios. Testing results reveal a 99% average accuracy in recognizing currency note denominations, presenting an effective solution for the visually impaired community.

Developing an automated currency transactions forecasting process for global e-commerce and fintech companies

This paper introduces a groundbreaking automated forecasting process for global currency transactions, specifically designed for e-commerce and fintech companies. Traditional linear models, such as weekly moving averages, ARIMA, and SARIMA, have proven inadequate in capturing non-linearities and complex patterns within the data. To address these limitations, we propose an ensemble of diverse machine learning models. These models, characterized by varying lag periods, integrate regional holiday data, macroeconomic variables, and time-based variables. The proposed process exhibits high scalability, capable of simultaneously predicting forex currency transactions for multiple currencies. The implementation of this forecasting process empowers companies to manage currency exchange risk more effectively, enhance overall financial performance, and increase profits through consolidated transactions. Additionally, the automation of this process eliminates the need for manual forecasting, thereby boosting efficiency, accuracy, and employee morale. The findings of this study carry significant implications for the global e-commerce and fintech companies with operations in multiple currencies. They demonstrate the transformative potential of machine learning models in revolutionizing currency transaction forecasting and assisting in strategic decision-making for finance and treasury teams.

Совершение валютных операций по переводу денежных средств на счета нерезидентов с использованием подложных документов: анализ отдельных аспектов через призму судебной практики

The goal set forth in Federal Law No. 173-FZ is achieved not only through the regulatory regulation of the mechanism of repatriation of funds, preventing the occurrence of a situation of currency imbalance, but also by establishing clear requirements and procedures for currency transactions for transferring funds to non-resident accounts. The requirements and procedure for conducting currency transactions are of particular importance in connection with the development of banking (financial) services and the emergence of new financial instruments, including digital ones. At the same time, the appeal to the analysis of the corpus delicti provided for in Article 193.1 of the Criminal Code of the Russian Federation does not allow to accurately determine the content of the signs of the act in question. The article is devoted to the consideration of certain aspects of this crime through the prism of judicial practice.

Democracy, Authoritarianism and Global Economic Governance

Four weeks after Russia's invasion of Ukraine, US Senator John Kennedy accused the Biden administration of indirectly providing over $17 billion to Moscow as Putin was gearing up for war. In August 2021, the International Monetary Fund had indeed approved a historic $650 billion allocation of Special Drawing Rights to help member countries struggling with the Covid crisis. Russia benefited from these money transfers, as did Iran, China, and Myanmar, notwithstanding the authoritarian consolidation of these regimes. Kennedy's op-ed sparked a debate about the lack of transparency in the use of crisis resources and led to the adoption in the United States of the ‘Russia and Belarus SDR Exchange Prohibition Act’, which bans currency transactions with these countries through the IMF, following the imposition of 2,500 sanctions by the US Treasury since February 2022. The op-ed also reignited a decades-old debate over whether international organisations such as the IMF, World Bank and World Trade Organisation (WTO) should be held accountable for supporting authoritarian and corrupt governments or interfering in the politics of sovereign nations.

Analisis Pengelolaan Valuta Asing Serta Pasar Valuta Asing Di Indonesia

Muamala Fikh's research requires justification for currency transactions, because buying and selling foreign currency is closely related and cannot be separated from the functioning of the world economy. Foreign currency refers to foreign currencies such as US dollars, pounds sterling and ringgit. An efficient foreign exchange market means exchange rates will change in the future. Unpredictable. The marketing activities of international companies are often organized as separate and independent departments within the company.

Impact of Covid-19 on Digital Payment System in Service Industry

COVID 19, also referred to as Coronavirus 19, has declared an epidemic worldwide and closed all businesses through the implementation of a worldwide blockade by governments of all countries, leading to the protection of the health and lives of the many. it’s a significant health disease. The present research aims to research the concept of digital payments and therefore the impact of COVID 19 on digital payment services in India, especially in hospitality. Secondary research includes some perspectives or insights from other researchers who have contributed knowledge within the relevant field. Digital payment is an emerging concept that deals with currency transactions between two or more people using an online or digital platform instead of having to exchange physical money. it is a platform where no physical interaction is required to pay or receive an amount to be done via mobile device or computer worldwide 24 hours a day. The most important goal of creating digital payments is to ensure fair recording of all monetary transactions and to protect the public from having their hard-earned money stolen.