Money Transfer Research Articles

Anatomy Of Cryptocurrencies

Cryptocracy is an exchange and payment platform created and stored on the internet through encryption methods of virtual/digital currencies by using the blockchain technology. Cryptocurrencies, which are increasing in popularity in the world and whose academic literature is rapidly developing, are considered "quasi-money" because they do not perform all the functions of money. The production and access of cryptocurrencies like Bitcoin (BTC) through blockchain technology represents the pinnacle of innovation in financial technology. BTC dominates the cryptocurrency market with the highest share, which does not yet have a physical form and any central authority or mediator controlling it. The key to a digital money transfer system that is independent of a central authority and trust is cryptographic mechanisms. Since BTC enables fast money transfer, it is included in wallets by the IMF, the World Bank and some central banks. The cryptocurrency system has divided the Islamic world, like the Western world, into two or even three fronts. This study aims to draw a framework for some strong (S), weak (W), opportunistic (O) and threatening (T) aspects of cryptocurrencies.

СОВРЕМЕННОЕ РАЗВИТИЕ ДЕНЕЖНОГО РЫНКА В РОССИИ

Money is the most important attribute of the economy, without which it is difficult to imagine the life of modern society. Rational organization and functioning of the monetary system contributes to the economic development of the country and the establishment of an equilibrium state in the money market. 
 With the rapid increase in the pace of development of digital technologies, there is a need to introduce a new form of national currency - the digital ruble - into the economic sphere of Russian society, the introduction of which will reduce the scale of the shadow economy, make payments without access to the Internet, and speed up the execution of transactions.There may be both positive and negative effects in the process of implementing the digital ruble, but for the Russian money market, it will undoubtedly lead to a new round of development in rapid money transfers.

INNOVATIONS IN ACCOUNTING: THE USE OF BLOCKCHAIN TECHNOLOGIES TO INCREASE TRANSPARENCY AND SECURITY OF FINANCIAL TRANSACTIONS

In this article, we will look at how blockchain technologies can be used to increase transparency and security of financial transactions. We will look at examples of the use of blockchain technologies in the banking and insurance industry, and also consider how the use of blockchain technologies can help accounting and auditing. In the first part of the article, we will consider the use of blockchain technologies in the banking industry. We will look at examples of using blockchain technologies to ensure the security and transparency of financial transactions, including for money transfers, loans and securities management. In the second part of the article, we will look at the use of blockchain technologies in the insurance industry. We will look at how the use of blockchain technologies can help reduce the costs of authentication and information processing in insurance companies, as well as ensure faster and more accurate consideration of applications for payments. In the third part of the article, we will consider the use of blockchain technologies in accounting and auditing. We will look at examples of using blockchain technologies to simplify the audit process and increase its transparency, as well as to ensure the accuracy and timeliness of accounting statements. So, blockchain technologies represent a new tool that can help improve accounting and financial management processes, providing more transparent and secure financial transactions. In the following parts of the article, we will take a closer look at how blockchain technologies can be used in various industries and what benefits they can bring.

Economic and Legal Principles of Cybersecurity as a Prerequisite for the Introduction of Special Economic Regimes

The article conducts a scientific and practical study of the economic and legal aspects of the State policy in the field of cybercrime and its impact on business development in a particular region, country, etc. It is determined that the massive spread of cybercrime, the lack of effective mechanisms for combating economic crimes, and the leveling of conceptual approaches to creating an effective mechanism for legal support of the business environment development have a negative impact on the investment environment in particular and on ensuring sustainable development of the State as a whole. The author analyzes the regulatory and legal documents which form the legal basis of the mechanism for combating cybercrime, both at the international and national levels. The author identifies the weaknesses of the national system of legal regulation of cybersecurity. The author points out the sufficiency and fragmented nature of legislative support for cybersecurity and counteraction to the growth of economic crimes.
 It is established that the significant vulnerability of Ukraine's information sphere is due to the excessive use of foreign-made material and technical means. It is emphasized that the international scale of the fight against cybercrime requires clarification and harmonization of national legislation in order to be able to cooperate with law enforcement agencies abroad. The article focuses on the low efficiency of Ukraine's current cybersecurity system and the urgent need to improve and optimize it. Achieving this will not only solve the problem of information space security, but also ensure the continuity and sustainability of Ukraine's economic development.
 It is determined that one of the priority areas of work in the field of creating optimal conditions for business is the fight against computer crimes in the economic sphere. Among the main tasks in this area of activity is to counteract the legalization of shadow income. The analysis of money laundering schemes shows that organized crime is very interested in using the capabilities of electronic payment systems which allow for instant money transfers with almost complete anonymity of counterparties.

The concept of “Buyer beware” continues when we step onto the e-commerce platform

E-commerce (electronic commerce) is the exchange of goods and services and the transmission of money and data over the Internet. E-commerce relies on technology and digital platforms, including websites, mobile apps, and social media, to make buying and selling possible. E-commerce is the exchange of goods and services and the transfer of money and data over the Internet. E-commerce relies on technology and digital platforms, including websites, mobile apps and social media, to enable buying and selling.

The Effect of Mobile Money Services Usage on Financial Inclusion in Nyamigamba Village

Several studies have shown that most of citizens living in rural areas are financially excluded due to several reasons such as lack of awareness of using mobile money financial services but also high cost of using the mobile money services. Thus, this study tend to analyze the effect of mobile money services usage on financial inclusion in Nyamigamba village which is one of the rural area located in Mwanza region, Tanzania. However, the selected mobile money services were mobile money transfer service, mobile money receiving service, mobile money payment service and mobile money loan service.

Modernization of Mali’s investment policy in the context of improving the sustainable development strategy

Since 2012, the Republic of Mali has been facing numerous security challenges caused by the separatist uprising led by the National Movement for the Liberation of Azawad and many non-State armed groups. This led to a loss of control by the authorities in several areas where the provision of public services and the operation of development programs were disrupted. The base of the economy - the agricultural sector - suffered, on the one hand, due to physical destruction of infrastructure and delays in the construction of new facilities due to limited financial and implementation opportunities, and on the other - due to limited access of households to agricultural resources and modern irrigation methods, which hindered the development of agriculture, expansion of acreage. The devastating consequences also affected other areas of the country. As a result, there is still an urgent need for humanitarian assistance, especially in the northern part of the country, and food insecurity due to the conflict and dependence on weather conditions remains a serious problem. Thus, money transfer programs from major international donors are one of the main sources of functioning of the economy and society of Mali. However, such dependence, in the end, does not benefit the country much in the context of long-term and sustainable development. This is confirmed by the difficulties that have arisen in recent years in connection with the imposed international sanctions. On the other hand, the country has quite attractive investment potential, but foreign investments pursue in most cases purely private interests of investors, ignoring the issue of social responsibility of business and not contributing to the restoration of the social and environmental spheres of Mali. In this regard, the study is devoted to the problem of sustainable development of the country and the possibility of using investment policy tools to implement policy objectives in this area. To this end, the formation and state of Mali’s sustainable development policy is analyzed; the dynamics of the main indicators reflecting the aspects of sustainable development are assessed; the world experience of implementing the concept of “green” investments that had positive environmental and social effects is reviewed. Conclusions are drawn about the need to revise and modernize the policy of attracting investments into the economy of Mali, which will provide additional opportunities for comprehensive development and increasing the level of independence.

A Review Paper on Bitcoin Price Prediction using Machine Learning Techniques

Bitcoin uses a peer-to-peer technology to operate with no central authority or banks. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. It is a crypto currency, so-called because it uses cryptography to control the creation and transfer of money. Users send payments by broadcasting digitally signed messages to the network. Participants known as miners verify and timestamp transactions into a shared public database called the block chain, for which they are rewarded with transaction fees and newly minted bit coins. The Bit coins value varies just like any other stock . There are many algorithms used on stock market data for price forecast. However, the parameters affecting Bit coin are different. Therefore it is necessary to foretelling the value of Bitcoin so that correct investment decisions can be made. The price of Bitcoin does not depend on the business events or intervening government authorities, unlike the stock market. Thus, to forecast the value it is proposed to leverage machine learning technology to predict the price of Bitcoin.

Analisis Ketidakmerataan Layanan Publik Money Remitance Western Union di Kantor Pos Kota Tanjungpinang Terhadap Geraknya Modernisasi Layanan Bank Umum

Western Union is a global financial service company renowned for its money transfer services. With thousands of locations worldwide, including post offices and banks, Western Union enables individuals to send and receive money quickly and securely to nearly any country in the world. The main advantages of using Western Union include speed, convenience, and accessibility. In many cases, money transfers can be completed within minutes. Moreover, with the vast number of Western Union locations, the service is easily accessible to many people. However, it's crucial to be cautious of potential scams and always ensure that you're sending money to someone you know and trust. Additionally, the service fees of Western Union can be a consideration, depending on the amount of money sent and the destination country. Overall, Western Union is a solid choice for international money transfer needs, as long as it's used wisely and cautiously. This research shows that this lesser-known service can keep up with global transformation mobilization, introducing and fostering cooperation on service modernization. Using the literature study research method, this can include a study on overseas money transfer services.

Last Digit Tendency: Lucky Numbers and Psychological Rounding in Mobile Transactions

The distribution of digits in numbers obtained from different sources reveals interesting patterns. The well-known Benford’s law states that the first digits in many real-life numerical data sets have an asymmetric, logarithmic distribution in which small digits are more common; this asymmetry diminishes for subsequent digits, and the last digit tends to be uniformly distributed. In this paper, we investigate the digit distribution of numbers in a large mobile transaction data set with 835 million mobile transactions and payments made by approximately 460,000 users in more than 300 cities. Although the first digits of the numbers in these mobile transactions follow Benford’s law, the last digit has a strong tendency to be a lucky number or be influenced by psychological rounding. This lucky number tendency is more significant in transactions that are more strongly connected to social interactions, such as money sent as gifts or as “red envelopes” (a traditional method of gift-giving during Chinese holidays), and in transactions by individuals with potentially greater emotional needs, such as during COVID-19 outbreaks and natural disasters. This psychological rounding tendency is more common in online e-commerce payments, in-store purchases, and money transfers between individuals. These findings are key for understanding the last digit tendency and its psychological and emotional mechanisms, which could be used as an indicator of public sentiment or in methods of detecting fraudulent business activity.

Understanding Hybrid Threats and their Societal Impact – Republic of Moldova Case Study

Abstract Hybrid threats undermine societies and foster unrest. Russia’s brutal and unjustified war against Ukraine has changed Moldova’s geopolitical situation. As President Maia Sandu states “using the full range of hybrid threats - including false bomb threats, cyber-attacks, disinformation, calls for social unrest and open corruption – Russia has sought to destabilize the government, erode our democracy and jeopardize Moldova’s contribution to the security of Europe as a whole”. Through consultants, money transfers, and fostering corruption, Russia is interfering in Moldova’s political landscape. However, the international community is highly concerned and supports the Republic of Moldova through a wide range of measures and instruments. The goal of this article is to highlight the main hybrid actions, their impact on Moldovan society, and the state authority’s response in responding to these hybrid threats. Consequently, this article emphasizes the difficulty of ensuring political sustainability amid an intense hybrid warfare.

Digital Banking Services – Students’ Perspective

Abstract The number of users of digital banking services has grown in recent decade, since digital banking services are being done easier, faster and at lower cost than banking services performed in a traditional face-to-face manner. Banks should work on enhancing their digital services according to their demand and conveniently improve customer experience especially for unbanked younger generations. The aim of this paper is to reveal student’s perception of digital banking services in Serbia. Research has been conducted via empirical survey in the form of an online questionnaire, with the descriptive statistics applied. The results showed diverse pattern of digital banking engagement with the largest proportion of students specifying that they use DBS at least once per week. When they did use banking services, most often they used them for money transfer and paying bills, emphasizing the vital role of digital platforms in facilitating financial transactions. Overall students’ satisfaction with DBS is on the high level, and students appreciate technologies development of banking offerings. The results of this research could be used by banks to reveal students’ perception on digital banking service, and to help them create adequate digital services and pivot their business models in that direction.

Factors Affecting Generation Z's E-Wallet Use and Behavioral Intentions in Shah Alam, Selangor

E-wallets are becoming increasingly popular for paying for goods and services. They offer a range of benefits for users, such as convenience, security, and the ability to track spending. This study was conducted to examine the factors influencing the use of e-wallets as a payment method among Generation Z in Shah Alam, Selangor, by applying the extended technology acceptance model (TAM). 279 samples from Generation Z who lived in Shah Alam, Selangor, were obtained through an online survey. The results showed that there is a positive relationship between perceived usefulness, perceived ease of use, perceived security and privacy, and behavioral intention. This study is expected to encourage consumers to adopt e-wallets in their daily lives. E-wallets have improved our purchasing experience by providing another convenient method of money transfer. The e-payment system offers them helpful information to help them have a better understanding of e-wallet apps. As e-wallets become more widely used, they are likely to become the preferred way to pay for goods and services. Finally, this research intends to show that perceived usefulness, perceived ease of use, and perceived privacy and security might all be factors influencing e-wallet adoption.

Role of Microfinance on Women Empowerment in Siddharth District of U.P

Abstract: A large portion of the population currently lives below the poverty line (BPL), which is a problem for emerging nations. Microfinance can aid developing nations in overcoming their poverty issues. Micro-finance offers a variety of financial resources (such as loans, insurance, savings, etc.) to the underprivileged so they can stabilize their businesses. Individuals can use these resources for a wide range of purposes, including pursuing business possibilities, raising their standard of living, paying off other sizable debts, responding to emergencies, etc. Microfinance is the arrangement of financial services including loans, savings, insurance, money transfers and remittances offered to the lower income groups or poor entrepreneurs, who otherwise cannot avail the standard banking services. The motive behind Microfinance is to give people in poverty a privilege to become self-sufficient by offering them crucial banking services at considerable smaller monetary amounts.

Penggunaaan M-Banking BRImo Terhadap Kemudahan Transaksi Perbankan Nasabah Bank BRI di Kota Medan

Services that have been designed to provide attractive and comfortable, safe and simple services for customers, with the ongoing development of information technology that has created new types of business and opportunities and increased business transactions carried out through electronic processes. The evolution of technology in the banking sector allows every individual to transfer money, buy and sell, and additional transactions, so with services it is possible to provide comfort and mobility for bank customers to carry out work and needs in their daily lives. One type of service offered by BRI bank is BRImo which aims to make it easier for customers to make transactions without visiting the bank because customers are busy with lots of activities so they can be anywhere and still be able to make transactions and avoid any disruption to their activities. This research uses a qualitative research method where qualitative research is a commonly used scientific method and is carried out by a group of researchers in the field of social sciences, including scientific education.

THE EFFECT OF FORENSIC ACCOUNTING ON BANK PERFORMANCE

This study investigated the effects of forensic accounting on bank performance in Nigeria using four (4) measures of forensic accounting (money laundering fraud control, point of sales, money transfer fraud and automated teller machine fraud control) and one (1) performance measure (return on asset). Data were obtained from the annual reports and accounts of the banks and Central Bank of Nigeria Statistical Bulletin from 2012-2020. Data obtained were analyzed using descriptive statistics (mean, standard deviation, skewness, kurtosis and correlation) and inferential statistics (variance inflation factor and ordinary least square). Findings of the study showed that all the forensic accounting measures of the study (money laundering fraud, point of sales, money transfer fraud and automated teller machine fraud controls) negatively and significantly affected performance of banks in Nigeria. Based on the findings, it was recommended among others that bank management should employ forensic accounting by amending the existing statutes in such a way that forensic accountants are included in the management process. Through this, forensic accountants will have more tools to effectively deal with challenges in fraud control. Also, the negative relationship between forensic accounting and performance of banks suggests that it has not been effectively used by management; thus, there is need for Nigerian banks to further enhance and employ forensic accounting support services, fraud investigation and forensic audit by ensuring that they achieve what they intend to do for banks
 Keywords: Forensic Accounting, Bank, Performance, Nigeria.

Interaction Design and Research for User Interfaces of Central Bank Digital Currency: An Empirical Study

There is already a consensus among central banks to accelerate the development of Central Bank Digital Currencies (CBDC). To facilitate a smooth money transfer process, the interactive experience of the CBDC user interface design is very important. However, much of the current research has focused on the technical feasibility of the CBDCs, and no scientific research has yet attempted to design an effective CBDC user interface. In this study, a series of CBDC user interfaces were designed to help study the interaction process of CBDCs in a simulated payment transaction context with a focus on the user interface and interactive experience of the CBDCs. The experiment in this study was a 2 (graphical metaphor) × 3 (gesture type) × 2 (visual feedback) mixed factorial design in which a total of 12 CBDC prototypes were created and evaluated based on users’ task performance and a series of subjective evaluations. The results of our empirical study revealed that graphical metaphor user interface design can improve the interface usability and subjective evaluation of CBDCs, and may also trigger the user’s sense of experience with traditional banknotes. Specifically, the use of animated cues for currency movement on the CBDC user interface may help evoke the user’s experience of using cash. In addition, we found that the wave type gesture may cause users to spend more time completing the CBDC operational tasks. Moreover, the animated cue of money moving may have faster performance and a higher degree of rationality. The above-mentioned results may provide an important design reference for CBDC developers to create easy-to-use CBDC services.

Dampak Inflasi Dan Nilai Tukar Mata Uang Pada Perkembangan Pasar Uang Syariah Di Indonesia

Abstract
 This study aims to see and examine the impact of inflation and rupiah exchange on the effect of inflation on the development of the Islamic money market, especially in Indonesia. Inflation is said to be the main review in interest rate development, where inflation has an impact on the Islamic money market by having a positive and negative impact. Judging from today's life, it can be clearly understood that inflation is the current trend of rising product prices. The existence of price increases or inflation can override the purchasing power of the public and have a major effect on the level of financing of fund deposits. In addition to inflation which is compressed on the development of the Islamic money market, there is also the exchange of rupiah currency which has a major impact on the Islamic money market. The rupiah exchange rate is the value of one rupiah currency with the transfer of money to another country's currency. The impact of the currency exchange rate on the economy can be seen from the size of financing and prices arising from changes in the currency exchange rate itself. The management of currency exchange rates that influence the development of the Islamic money market will be determined by the exchange rate system regulated by each country, especially Indonesia. Therefore, the Islamic money market can develop due to the impact of inflation and currency exchange rates. The development of the Islamic money market, where when interpreting a money according to sharia is money as a tool to gain memory or additional economic falue. Money can grow if it is pooled in a real economic activity
 Keywords : Inflation, Currency Exchange Rates, Islamic Money Market

Who is Sending Remittances? Understanding Global Networks of Support

Remittances are sent by migrants to their families and friends back home. That definition, over the past few decades, has been the accepted understanding of the concept in discussions related to personal international money transfers (PIMTs), and in-kind and person-to-person cash transfers. However, no mechanism exists at present that can pinpoint the identity of the sender beyond an acknowledgment of the location from where remittances are sent. This study shows that a significant percentage of PIMTs are sent by non-migrant actors. Drawing on quantitative and qualitative data gathered in coastal Kenya, the discussion shows that transnational social networks that lead to the receiving of PIMTs include senders whose citizenship is different from that of the recipient. The data point to growing interconnectedness among social actors of the global community through tourism, business, missionary activity, and humanitarianism, and is relevant to understanding the function of remittances in the global economy.

THE COST-BENEFIT STUDY OF IMPLEMENTING THE KATEPAY PROGRAMME IN SURABAYA

The purpose of this study is to compare stakeholders from the existing community with the output or advantages and disadvantages of KatePay besides knowing the implementation of the KatePay Program in Surabaya City Schools by how the Government runs the program and what is felt by the community in implementing this program which has been running for one year. Data collection techniques in this study were interviews and Documentation. It then analyzed the data concerning the theory used. The theory applied by the author uses the Cost-Benefit Analysis method, which discusses the identification, benefits, implementation results, and conclusions of the programs being run. Results The first research shows that the KatePay program benefits students more than other stakeholders. Second, KatePay's performance is excellent because it can reduce money transfers and teach students to manage money. This program can also create intelligent and wise students in deciding or doing something. The research implies that it is necessary to socialize intent to all stakeholders so it is not misused.