The role of information sharing in combating money laundering: the importance and challenges of mutual legal assistance for developing jurisdictions like Pakistan

Sultan, Nasir; Mohamed, Norazida

doi:10.1108/jmlc-09-2022-0128

Cited by 7 publications

(4 citation statements)

References 72 publications

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“…Moreover, by regular monitoring of wire transfers and other currency transfer methods, financial institutions may actively contribute to the detection of money laundering and the identification of its origins. Consequently, they can promptly report any questionable money transfers to the appropriate security services (Sultan et al, 2024). Waqar Khan Durrani: Problem Identification and Theoretical Framework Asiya Anwar: Data Analysis, Supervision and Drafting Syed Samer Hussain: Literature Search, Methodology, and Drafting…”

Section: Discussionmentioning

confidence: 99%

Behind Closed Doors: Understanding the Layers of Illicit Wealth in Pakistan’s Money Laundering Web and Tracing the Socio-Economic Fallouts

Durrani,

Anwar,

Hussain

2024

Contemporary Issues in Social Sciences and Management Practices

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This research investigates the clandestine realm of money laundering, with a particular emphasis on the complex operations that are involved inside the financial trajectory of Pakistan. The purpose of this article is to shed light on the diverse nature of the illegal acquisition of riches by investigating the mysterious systems and networks that support activities related to money laundering. This study attempts to provide a thorough understanding of the processes that are driving illegal financial flows in Pakistan by gaining an understanding of the layers of secrecy that constitute the situation. Furthermore, it investigates the far-reaching socioeconomic ramifications of money laundering, including the negative effects that it has on government, economic development, and social cohesion. Through the use of empirical analysis and case studies, the research sheds light on the issues that money laundering poses to the integrity and stability of Pakistan's financial system. The purpose of this study is to contribute to the ongoing conversation on the fight against financial crimes and the enhancement of anti-money laundering measures by tracing the socio-economic fallout. In light of these findings, it is imperative that systemic vulnerabilities be addressed and regulatory frameworks be strengthened in order to reduce the negative effects that money laundering has on Pakistan's economy and society.

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Section: Discussionmentioning

confidence: 99%

Behind Closed Doors: Understanding the Layers of Illicit Wealth in Pakistan’s Money Laundering Web and Tracing the Socio-Economic Fallouts

Durrani,

Anwar,

Hussain

2024

Contemporary Issues in Social Sciences and Management Practices

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“…As shown in Figure 1 above, international organizations have a wide range of definitions of cryptocurrency (Sultan et al, 2023). They agree that cryptocurrency is a "digital representation of value,"; however, their definitions differ.…”

Section: Cryptocurrencymentioning

confidence: 99%

Challenges and Legal Aspects of Financing Projects Through Cryptocurrencies in Iran

Sayed,

Yazdan

2023

ijfirm

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Purpose:In this article, the objective is to clarify the uncertainty surrounding the significant elements of using digital currencies to fund national projects, especially infrastructure projects and the transfer of knowledge and technology to the country, a particular focus. Design/Methodology/Approach: The present study utilizes a qualitative methodology suitable for descriptive and exploratory studies to accomplish its objectives. As a result of this approach, the researchers will be able to comprehensively analyze the existing literature on the operational and legal complexities associated with cryptocurrencies. Findings: The legal part also aims to highlight the significant results and recommendations for the readers and policymakers to overcome the legal challenges and achieve the ultimate goal of this technology, taking into consideration the risks associated with this digital asset of exchange. Practical Implications: Blockchain technologies offer new open source-based opportunitiesfor developing new types of digital platforms and services. While research on the topics emerging, it has this far been predominantly focused to technical and legal issues. in continues pinpoints the most pressing legal issues concerning this virtual form of money. Originality/Value: In this connection, researchers in different parts of the world have endeavored to reach and present their findings along with their suggestions and recommendations to improve the current status of this relatively nascent technology.

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“…Education and Awareness: Regulatory frameworks often emphasize the need for public education and awareness campaigns to educate individuals about the risks and benefits of cryptocurrencies. This helps prevent fraud, scams, and uninformed investment decisions while promoting responsible and informed participation in the crypto ecosystem (Sultan, Mohamed, Martin, & Latif, 2023). 10.…”

Section: Modern World Framework For Regulation Of Cryptocurrencymentioning

confidence: 99%

The Rise of Cryptocurrency Adoption in Pakistan: the Legal Landscape

Zafar Ghouri

2023

pjia

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This article explores the rise of cryptocurrency adoption in Pakistan and examines the promising future that lies ahead for this emerging digital asset class in the country. Pakistan, with its cash-centric economy and limited access to formal financial services for a significant portion of its population, has witnessed a remarkable shift in attitudes toward cryptocurrencies. Factors such as financial inclusion efforts, economic instability, and supportive government policies have contributed to this growing interest. The younger generation, in particular, is embracing digital currencies as a means of participating in the global economy and preserving their wealth in the face of inflation. The establishment of crypto exchanges and supporting infrastructure, along with educational initiatives and awareness programs, has further facilitated cryptocurrency adoption. The government's positive approach and efforts to develop a comprehensive regulatory framework have instilled confidence and encouraged individuals and businesses to explore the opportunities presented by cryptocurrencies. Moreover, partnerships with global crypto projects and the potential applications of blockchain technology in various sectors have contributed to Pakistan's promising future in the cryptocurrency space. As more individuals and businesses embrace cryptocurrencies, Pakistan is poised to leverage the benefits of this transformative technology, fostering financial inclusion, economic growth, and technological innovation in the years to come. Cryptocurrencies have garnered significant attention and adoption worldwide, and Pakistan is no exception. In recent years, Pakistan has witnessed a growing interest in cryptocurrencies, with an increasing number of individuals and businesses embracing this digital financial revolution. This article explores the factors contributing to the rise of cryptocurrency adoption in Pakistan and examines the promising future that lies ahead.

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The role of information sharing in combating money laundering: the importance and challenges of mutual legal assistance for developing jurisdictions like Pakistan

Cited by 7 publications

References 72 publications

Behind Closed Doors: Understanding the Layers of Illicit Wealth in Pakistan’s Money Laundering Web and Tracing the Socio-Economic Fallouts

Behind Closed Doors: Understanding the Layers of Illicit Wealth in Pakistan’s Money Laundering Web and Tracing the Socio-Economic Fallouts

Challenges and Legal Aspects of Financing Projects Through Cryptocurrencies in Iran

The Rise of Cryptocurrency Adoption in Pakistan: the Legal Landscape

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