Diss. Univ. Bremen, 2007/2008.

Financial Aspects of Alternative Payment Systems from the Point of View of Money Laundering Abstract The aim of this thesis is to provide a general overview of the current state of alternative payment systems with regard to their inclusion in the financial market, their properties and potentials for wider use, and to evaluate their possibilities to more effectively combat money laundering, terrorist financing and the proliferation of weapons of mass destruction. In the first chapter, the thesis explains the broader context with regard to financial systems, especially within the money market systems focusing on retail, while providing a deeper explanation of the context of European law and Czech law. The second chapter is focused on closer analysis of alternative payment systems with regard to their use. Alternative payment systems are divided into two basic categories for centralized alternative payment systems and decentralized alternative payment systems. The category of centralized alternative payment systems corresponds to the current conventional financial market, taking into account the innovations that have emerged in recent years. Decentralized alternative payment systems are based on the DLT Blockchain technology and the Islamic Hawala payment system is analyzed as a purely informal, decentralized...

Le Currency Board est un régime de change dont la recherche de la stabilité et la crédibilité monétaire fonde la régulation non pas sur une action discrétionnaire de la Banque Centrale mais sur un mécanisme d’ajustement supposé être automatique : la dynamique de l’offre monétaire suit la dynamique des réserves en devises étrangères. Cette thèse s’intéresse à l’expérience djiboutienne pour étudier le fonctionnement d’un Currency Board. La République de Djibouti possède l’unique Currency Board existant sur le continent Africain depuis 1949. Sa longévité dans un contexte de libre circulation des capitaux offre une expérience unique et extrêmement riche d’enseignements. La résilience du secteur bancaire intégralement détenu par l’étranger, les facteurs institutionnels et géopolitiques et les pratiques monétaires informelles (hawala) expliquent cette longévité. Par exemple, sans les transferts hawalas, il n’existe pas une relation univoque à long terme entre la balance des paiements et la base monétaire. L’interaction du secteur formel et informel permet d’obtenir un équilibre macro-monétaire.Une étude statique de l’ajustement d’un modèle d’équilibre général calculable financier (MEGC) comprenant le secteur informel montre que les entrées supplémentaires en devises peuvent être à l’origine d’une accumulation illimitée de réserves en devises étrangères et conduisent à une modification de l’équilibre entre le secteur marchand et non marchand. / The Currency Board is an exchange system in which the search for stability and monetary credibility is not based on a discretionary regulation of the Central Bank but on an adjustment mechanism assumed to be automatic: the dynamics of money supply follow the dynamics of foreign exchange reserves. This thesis focuses on the Djibouti experiment to study the functioning of a Currency Board. The Republic of Djibouti has the only existing Currency Board on the African continent since 1949. His longevity in a context of free movement of capital offers a unique and extremely valuable lesson. The resilience of institutional and geopolitical factors fully owned by foreign banking, and informal monetary practices (hawala transfers) explain this longevity. For instance, without the hawala transfers, there is no unambiguous relationship between the long-term dynamics of the balance of payments and the monetary base. The interaction of formal and informal sector provides a macro-monetary balance and stability.A static study of the fit of a general equilibrium (CGE) including the informal sector shows that the additional entries in currencies can be the source of an unlimited accumulation of foreign reserves and lead to a change in the balance between tradable and non-tradable sector.

Studien syftade till att undersöka förekomsten samt utformningen av samarbeten mellan kriminella nätverk, samt vad dessa aspekter har för betydelse för brottsligheten. Vidare ämnade studien att kvalitativt undersöka de kriminella nätverkens penningtransaktioner till utlandet, samt hur dessa kunde kopplas till tidigare forskning, med avsikt att få en djupare förståelse kring internationell ekonomisk brottslighet. Centralt för detta arbete var det material som undersöktes i form av domslut, med tillhörande förundersökningsprotokoll, gällande valutaväxlingskontoret World Exchange. Den valda metoden social nätverksanalys (SNA) användes för att kartlägga nätverkspositioner och deras relationer. En kvalitativ analys applicerades beträffande de internationella transaktionerna som fördjupades med hjälp av den tillgängliga Encrochatbevisningen. Resultaten visade på att det förekommer en viss grad av gruppöverskridande brottsliga samarbeten - nexus - mellan de studerade nätverken. De mer tongivande nätverken, inom kontexten för transaktionerna inom World Exchange, påvisades även inneha en central position gällande de ekonomiska transaktioner som överfördes till utlandet. / The study aimed to investigate the existence and design of nexus between criminal networks and what significance these aspects have for criminality. Furthermore, the study aimed to qualitatively examine the criminal networks money transactions abroad, and how these could be linked to previous research, with the intention of gaining a deeper understanding of international economic crime. Central to this work was the material examined in the form of verdicts, with accompanying preliminary investigation protocols, concerning the currency exchange office World Exchange. The chosen method Social Network Analysis (SNA) was used to map network positions and their relationships. A qualitative analysis was applied to the international transactions that were deepened using the available Encrochats. The results showed that there is a certain degree of cross-group criminal cooperation - nexus - between the studied networks. Additionally, the results exhibited that the more dominant networks, within the context of the transactions within World Exchange, also held a central position regarding the financial transactions transferred abroad.

The aim of this paper is to research how advanced accounting software can be used by police detectives, financial risk specialists and forensic investigation specialists, who are responsible for the investigation and tracing of the reintegration of proceeds of crime, from underground banking into formal banking system (pro active and reactive money laundering investigation) with a view on criminal prosecution. The research started of by looking at the basic ways how proceeds of crime are smuggled before it is integrated into the formal banking system. In that context, the phenomenon of Underground banking was researched. Currency smuggling, Hawala currency transfer schemes and the way in which it is used to move proceeds of crime were discussed in detail. Thereafter Formal banking and the way in which proceeds of crime is reintegrated from underground banking structures into formal banking systems were discussed. The use of advanced accounting software to trace the point where proceeds of crime are reintegrated into formal banking were researched extensively. Accounting software and investigative techniques on how to trace financial transactions which might be tainted with proceeds of crime were discussed. Accounting software which can be used on office computers such as laptops were discussed and more advanced automated systems which can be used to trace proceeds of crime transactions in the formal banking systems were also discussed. In specific, the investigative techniques on how to use these systems as investigative tools were discussed in great detail. This research paper gives a truly unique perspective on the financial investigative and analytical angle on proceeds of crime and money laundering detection. / Criminal Justice / M.Tech. (Forensic Investigation)

The aim of this paper is to research how advanced accounting software can be used by police detectives, financial risk specialists and forensic investigation specialists, who are responsible for the investigation and tracing of the reintegration of proceeds of crime, from underground banking into formal banking system (pro active and reactive money laundering investigation) with a view on criminal prosecution. The research started of by looking at the basic ways how proceeds of crime are smuggled before it is integrated into the formal banking system. In that context, the phenomenon of Underground banking was researched. Currency smuggling, Hawala currency transfer schemes and the way in which it is used to move proceeds of crime were discussed in detail. Thereafter Formal banking and the way in which proceeds of crime is reintegrated from underground banking structures into formal banking systems were discussed. The use of advanced accounting software to trace the point where proceeds of crime are reintegrated into formal banking were researched extensively. Accounting software and investigative techniques on how to trace financial transactions which might be tainted with proceeds of crime were discussed. Accounting software which can be used on office computers such as laptops were discussed and more advanced automated systems which can be used to trace proceeds of crime transactions in the formal banking systems were also discussed. In specific, the investigative techniques on how to use these systems as investigative tools were discussed in great detail. This research paper gives a truly unique perspective on the financial investigative and analytical angle on proceeds of crime and money laundering detection. / Criminal Justice / M.Tech. (Forensic Investigation)