Croatia, always harbouring ambitions of becoming an independent nationstate, was caught off guard during the early stages of the events of the break‐up of Yugoslavia in 1990–91 by…
Abstract
Croatia, always harbouring ambitions of becoming an independent nationstate, was caught off guard during the early stages of the events of the break‐up of Yugoslavia in 1990–91 by a combination of Slovenian and pan‐Serbian planning. The Slovenian planning was single‐minded for secession, while the Serbian factor was the ruthlessness of pan‐Serbian elements in both the JNA and the federal government, which manipulated the military campaigns from using limited intervention to preserve the Yugoslav federation to armed conflict in order to enable greater Serbia to gain as much territory as possible. Croatian independence was eventually gained through a combination of survivalist struggle, improvisation, the evocative — and symbolic — holding actions of the sieges of Dubrovnik and Vukovar, European Union recognition of independence, and a certain low‐key tacit rapprochement between Belgrade and Zagreb. The undoubted achievements both of gaining independence and of economic development in the following years, however, have been accompanied by economic criminality. It is this latter legacy that has created the long‐term problems that currently face the new regime in Zagreb.
By the early 1980s, primarily due to the extremely adverse foreign trade balance, Hungary was forced to join the international economy, a step which itself led to economic…
Abstract
By the early 1980s, primarily due to the extremely adverse foreign trade balance, Hungary was forced to join the international economy, a step which itself led to economic reforms. One question that presents itself is how, despite this adverse foreign trade balance, the domestic economy managed to survive and prosper through the 1970s. This question is not merely posed for historical value. For within the answer lie important long‐term vulnerability factors that gave rise to organised criminality. Such an answer in turn explains, to a certain extent, the reasons for the continuity of economic crime within Hungary from the 1970s to the present day.
Bulgaria, at the height of what history judges, with the benefit of hindsight, as the cold war, was one of the most loyal of the Warsaw Pact nations. Yugoslavia's schism with the…
Abstract
Bulgaria, at the height of what history judges, with the benefit of hindsight, as the cold war, was one of the most loyal of the Warsaw Pact nations. Yugoslavia's schism with the Soviet Union and her formation of the non‐aligned bloc, the Hungarian uprising of 1956, the Prague Spring of 1968 — all these left Bulgaria comparatively unmoved in her unshakeable loyalty.
This paper seeks to provide an insight into financial crime in Italy and the highlighting of the anomalous role and position of the governor of the Italian National Bank and the…
Abstract
Purpose
This paper seeks to provide an insight into financial crime in Italy and the highlighting of the anomalous role and position of the governor of the Italian National Bank and the need for reform.
Design/methodology/approach
Research from contemporaneous open and other sources during a comparatively intense period mid to late 2005 regarding Italian financial institutions and international banking operations.
Findings
The ground‐breaking co‐ordinated conventions and regulatory framework of international banking operations on an EU‐wide basis was frustrated in Italy by the questionable conduct of the governor of the Italian National Bank. In this he was aided and abetted by the arguably excessive powers of that office. This conduct was interacting with and linked to, several cross‐currents of ongoing alleged financial crime in Italy.
Originality/value
This gives an insight into financial crime in Italy and the highlighting of the anomalous role and position of the governor of the Italian National Bank and the necessity for reform.
Details
Keywords
Nicholas Gilmour and Nick Ridley
The purpose of this paper is to provide an understanding of the specific techniques through which illicit funds generated by criminals are moved, transferred and laundered in the…
Abstract
Purpose
The purpose of this paper is to provide an understanding of the specific techniques through which illicit funds generated by criminals are moved, transferred and laundered in the financial arrangement retained by cash-intensive businesses in the UK and internationally.
Design/methodology/approach
This paper presents exploratory findings from research conducted between 2011 and 2013 in the UK. The research undertaken sought to identify the process, steps and vulnerabilities behind money laundering via cash-intensive businesses and highlight the explicit facilitators to enable this method of money laundering to take place.
Findings
Despite significant research into money laundering typologies, the use of cash couriers and cash-intensive businesses has remained largely untouched regardless of the increased implementation of anti-money laundering (AML) policies and procedures seeking to halt the depositing of illicit cash into the global financial system. This paper demonstrates how cash-intensive businesses are extremely vulnerable to money laundering, despite the large-scale AML efforts focused on combating money laundering across a broad range of sectors.
Research limitations/implications
This paper is of value to government policymakers, regulators and financial institutions considering future preventative measures. It is also of value to financial investigators and law enforcement agencies intent on investigating money laundering. While the paper relies on data from the UK, the overall findings are such that wherever cash-intensive businesses exist, so too does the opportunity for money laundering through the financial arrangement retained by such businesses.
Originality/value
This paper presents new research on the direct link existing between cash-intensive businesses and money laundering in the UK, despite significant research having previously taken place to identify and develop money laundering typologies.
Details
Keywords
Shirley Day, Edwin Fleming and Allan Bunch
Your series by David F. Cheshire is most interesting and worthwhile. I am specially grateful for the kind and constructive remarks he has made over the months about exhibitions in…
Abstract
Your series by David F. Cheshire is most interesting and worthwhile. I am specially grateful for the kind and constructive remarks he has made over the months about exhibitions in the Barbican Art Gallery, which is part of my department in the City of London.
Shirley Day, Edwin Fleming and Allan Bunch
The National Centre for Information Media and Technology (CIMTECH) is developing a full text database of optical disc trade literature and journal articles. The database will be…
Abstract
The National Centre for Information Media and Technology (CIMTECH) is developing a full text database of optical disc trade literature and journal articles. The database will be held on a WORM (write once, read many) disc and it will be used to investigate the economic, technical and administrative issues associated with the application of writable discs in library and information sciences. There will be opportunities to see demonstrations of the system throughout the course of the project. Contact: Tony Hendley, CIMTECH, Hatfield Polytechnic, College Lane, Hatfield, Herts AL10 9AB (Tel. 07072 79691).
The purpose of this paper is to analyse the banking systems in Western, and Central and Southeastern Europe, focusing on the interactive factors of anti‐money laundering…
Abstract
Purpose
The purpose of this paper is to analyse the banking systems in Western, and Central and Southeastern Europe, focusing on the interactive factors of anti‐money laundering, transitional economies and the underground illicit economy.
Design/methodology/approach
Provides a comparative analysis of the banking systems in Western, and Central and Southeastern Europe.
Findings
The transition economies of central and Southeastern Europe face, and have been confronted for over a generation by, the interlinked problems of the transition stage post‐1989, the alternative or illegal economy, and the vulnerability of banking systems to money laundering. In contrast, by the 1990s, Western European central banks have become established as an essential government organ in macro‐economic policies.
Originality/value
Suggests an interesting lesson that might be gained from the experiences of central and Southeastern Europe and anti‐money laundering since the late‐1990s, where a national bank or central bank has not been essential, indeed has been comparatively unimportant, compared to the developed banking system led by the individual banks.
Details
Keywords
This chapter is the editor’s introduction to Austrian Economics: The Next Generation, which includes a brief description of the workshop that produced the papers and short…
Abstract
This chapter is the editor’s introduction to Austrian Economics: The Next Generation, which includes a brief description of the workshop that produced the papers and short summaries of each contribution organized by sub-topic.