PurposeThis study aims to investigate the impact of FinTech on money laundering within the context of Nigeria. The motivation stems from observations suggesting that FinTech platforms might be used for illicit money transfers, particularly from developed to developing economies. While existing literature predominantly highlights the positive aspects of FinTech, there's a dearth of studies addressing its potential association with money laundering. Current understanding of this relationship relies heavily on anecdotal evidence derived from reported or convicted cases. Thus, the primary goal of this study is to analyze the influence of FinTech on money laundering while also considering the moderating effects of financial regulation and financial literacy as perceived by users. The research delves into regulatory perspectives concerning money laundering and FinTech.Design/methodology/approachTo fulfill the study's objectives, a quantitative research design is used. A survey of 248 FinTech users in Nigeria is conducted using structured questionnaires. Data collected from the questionnaires is analyzed using partial least square structural equation modeling (PLS-SEM).FindingsThe quantitative analysis revealed a significant relationship between FinTech and money laundering and that financial regulation moderates the relationship between FinTech and money laundering in Nigeria, but such was not established with respect to financial literacy. The results of the quantitative approach that uses secondary data are consistent with the qualitative approach. FinTech the results indicate the presence of technology induced money laundering in Nigeria. Regulating technology-based anti-money laundering poses serious challenges for developing countries due to the absence of specific laws that mitigate the threats.Research limitations/implicationsThe paper focuses on Nigeria as a case study, which may limit the generalizability of the findings to other countries with different FinTech ecosystems, regulatory frameworks and financial literacy levels.Practical implicationsThe finding is useful in developing guidelines and regulations by policymakers and strategies by practitioners in relation to FinTech, money laundering, financial regulation and financial literacy. On the basis of the above, the authors recommend regulation at the national and industry level to mitigate the adverse effect of technology on money laundering. Thus, multilateral partnerships can help in tackling tech-induced money laundering through strengthened cooperation.Social implicationsMoney laundering risks: The study highlights that FinTech, while beneficial, also poses significant risks for money laundering activities, especially in developing countries like Nigeria. Regulatory Importance: It emphasizes the critical role of financial regulations in mitigating the risks associated with FinTech and money laundering. Financial Literacy: The paper suggests that financial literacy does not significantly moderate the relationship between FinTech and money laundering, indicating the need for stronger regulatory measures rather than relying solely on financial literacy. Policy Formulation: The findings are crucial for policymakers to formulate strategies that balance the benefits of FinTech with the need to prevent money laundering and ensure financial system integrity.Originality/valueThis research presents a novel approach to methodology, specifically focusing on the qualitative research design, addressing population, sampling techniques and data collection methods. It emphasizes techniques aimed at ensuring measurement quality and achieving research objectives. Data collection used survey questionnaires, while analysis involved both statistical package for social science (SPSS) and PLS-SEM. SPSS facilitated descriptive and preliminary analyses, while PLS-SEM confirmed measurement quality and tested hypotheses. Ethical considerations were paramount throughout the research process, underscoring the commitment to maintaining originality in research endeavors.

PurposeThis study addresses the ever-increasing cyber risks confronting the global banking sector, particularly in India, amid rapid technological advancements. The purpose of this study is to de velop an innovative cyber fraud (CF) response system that effectively controls cyber threats, prioritizes fraud, detects early warning signs (EWS) and suggests mitigation measures.Design/methodology/approachThe methodology involves a detailed literature review on fraud identification, assessment methods, prevention techniques and a theoretical model for fraud prevention. Machine learning-based data analysis, using self-organizing maps, is used to assess the severity of CF dynamically and in real-time.FindingsFindings reveal the multifaceted nature of CF, emphasizing the need for tailored control measures and a shift from reactive to proactive mitigation. The study introduces a paradigm shift by viewing each CF as a unique “fraud event,” incorporating EWS as a proactive intervention. This innovative approach distinguishes the study, allowing for the efficient prioritization of CFs.Practical implicationsThe practical implications of such a study lie in its potential to enhance the banking sector’s resilience to cyber threats, safeguarding stability, reputation and overall risk management.Originality/valueThe originality stems from proposing a comprehensive framework that combines machine learning, EWS and a proactive mitigation model, addressing critical gaps in existing cyber security systems.

PurposeThis paper examines data protection related ex ante transaction costs borne by the private sector in the context of smart city service (SCS) public tendering in the European Union after the introduction of the General Data Protection Regulation. This study aims to establish the determinants of ex ante transaction costs related to data protection as well as to determine their relevance toward (tender) competition.Design/methodology/approachA statistical analysis of a survey sample of 72 SCS tender bids.FindingsThe potential of relationship management to foster more private sector investment in data protection for SCSs is established, i.e. stronger ties between parties lead to higher private sector investment. Furthermore, it is found that investing more in data protection can further boost both internal capabilities and the organizational reputation of tendering organizations. Finally, the analysis exposes a potential problem concerning the market for data protection originating from the dominant approach concerning SCS tender bid evaluation.Research limitations/implicationsSCS tender bid evaluation is not perceived by the evaluated companies as having data protection as a (core) component. As a consequence, there is no strong competition in that specific area. To induce the private sector to structurally develop SCSs that can be expected to safeguard the fundamental rights of citizens, a more thorough evaluation of data protection aspects of bids imposes itself. Such an overhaul is likely to demand additional public sector resources and expertise.Originality/valueThis paper constitutes an early investigation into data protection related ex ante transaction costs borne by private sector actors. Incentives for data protection investment in the context of public procurement procedures are discussed.

PurposeBenchmarking e-government and digital society developments using relevant indicators provides crucial insights into what aspects to consider while building a resilient digital society in which digital public services are delivered effectively and sustainably. The purpose of this paper is to analyse selected indices and indicators over the years and provide findings and recommendations on what indicators contribute most to the development.Design/methodology/approachA mixed research approach was used to conduct the research and collect, analyse and interpret data. A qualitative analysis involving the search, decomposition and comparison approaches to identify e-government and digital society reports, indices, rankings and indicators was followed by a quantitative analysis comprising of regression and cluster analyses.FindingsThe findings revealed that changes in the mix of indicators used by e-government and digital society indices can be attributed to advances in ICT and channels through which people communicate and receive information. The authors found that digital and telecommunication infrastructures and the quality of their parameters such as broadband have the biggest influence on progress of the e-government and digital societies developments and contribute most to clustering of the EU member states into groups.Originality/valueThe paper provides insights into how the structures of related indices changed over the years and how different indicators contribute to benchmarking of e-government and digital society developments by means of their weights. It provides governments with recommendations on which indicators to focus most.

PurposeThis paper aims to explore the rationale, the process and the outcomes and risks of place branding in rural China.Design/methodology/approachAn in-depth case study analysis, including interviews, has been conducted.FindingsPlace branding in the case of China is practiced and dominated through administrative entities by using subsidies and regional development programs to coordinate, organize and promote local agricultural resources. Although this government-led place branding has effective effects on rural development, it is unsustainable and unstable because it lacks sufficient market and stakeholder participation.Research limitations/implicationsThe effectiveness of place branding in China has been examined and proved.Practical implicationsThe government’s role in place branding in China should be adjusted. The government should position itself as a service and auxiliary role. Simultaneously, it should strengthen market-oriented operations and stakeholder participation in place branding.Originality/valueThis paper is one of the first contributions to examine the impact of place branding as a rural development policy tool in China, and the in-depth case study examines and proves the effectiveness of place branding in rural China.

PurposeCryptocurrencies are becoming increasingly attractive as alternatives to traditional currencies. Although many retailers accept cryptocurrencies as a means of payment in online shopping, consumers’ cryptocurrency adoption intention in online shopping (CCAI) is still low. This study aims to investigate the influence of attitudes, subjective norms, consumer trust, financial literacy and fear of missing out (FOMO) on CCAI.Design/methodology/approachA quantitative research approach was followed using a consumer survey. Hypothesized relationships were tested through regression and mediation analyses.FindingsThe results revealed that consumers could accept cryptocurrencies as a means of payment in online shopping. Attitudes, subjective norms, consumer trust and financial literacy directly and positively influence CCAI, while they indirectly affect CCAI through the mediating impact of FOMO.Practical implicationsMarketing managers should improve consumers’ knowledge about cryptocurrencies and trust in online shopping to increase CCAI. Social media marketing can be appropriate, while the advertising content can address keeping up with others and staying connected.Originality/valueThis study addresses a critical gap in the literature by empirically examining the antecedents of CCAI within an original conceptual model based on the theoretical framework provided by the theory of planned behavior. Attitudes, subjective norms, trust and financial literacy influence CCAI, where FOMO plays a significant role as a mediator.

PurposeThe Kingdom of Saudi Arabia (KSA) is embracing digital transformation and e-government services, aiming to improve efficiency, accessibility and citizen-centricity. Nonetheless, the country faces challenges such as evolving cyber threats. The purpose of this study is to investigate the factors influencing cybersecurity practices to ensure the reliability and security of e-government services.Design/methodology/approachThis paper investigates the multifaceted dynamics of cybersecurity practices and their impact on the quality and effectiveness of e-government services. Five key factors explored include organizational culture, technology infrastructure, adherence to standards and regulations, employee training and awareness and financial investment in cybersecurity. This study used a quantitative method to gather data from 320 participants. The researcher collected 285 completed questionnaires, excluding unusable or incomplete responses, and analyzed the final data set using partial least squares structural equation modeling.FindingsThe findings show that financial investment in cybersecurity, employee training and awareness and adherence to cybersecurity regulations significantly influence the adoption of robust cybersecurity practices. However, the relationship between organizational culture and cybersecurity practices is less straightforward. The research establishes a strong positive correlation between cybersecurity practices and e-government service quality, highlighting the role of security in fostering public trust and user satisfaction and meeting the evolving needs of citizens and businesses.Originality/valueThis research contributes valuable empirical evidence to the fields of e-government and cybersecurity, offering insights that can inform evidence-based policy decisions and resource allocation. By understanding the nuanced dynamics at play, Saudi Arabia is better poised to fortify its digital governance infrastructure and provide secure, high-quality e-government services to its constituents.

PurposeThis paper aims to draw lessons for telecommunications (telecom) network deployment in India, from a study of policy and regulatory approaches taken by other federal administrations in streamlining processes for site clearances, grant of rights of way (RoW) and approvals for local infrastructure deployment and sharing. With the urgent need for setting up small cells and rapid fiberisation of networks in the 5G era, the importance of such processes has gained prominence.Design/methodology/approachThe authors adopt qualitative thematic content analysis with three-tier coding and classification to identify themes in archival and current documentary data and information obtained from subject-matter experts in the countries studied.FindingsFormulation and implementation of telecom policy is led by national governments. However, national telecom administrations, in recognition of new needs, have co-opted states and local authorities as partners in development of telecom networks, providing the overall framework, guidance and appropriate incentives where required.Practical implicationsThis cooperative model could work well in India, where telecom policy making and regulation is the prerogative of the central government, but administration of RoW and local clearances for cable laying, tower siting and associated infrastructure activities for expanding telecom networks are left to decentralised decision-making in the states and local bodies.Originality/valueThis research attempts to sytematise, thematise and draw cross-country comparisons to inform regulatory and administrative policy for 5G infrastructure rollout in India.

Purpose This paper aims to present a comprehensive overview of the emergence and significance of digital payments, focusing on their impact on competitiveness and the need for policy interventions. In addition, it explores the design of policies that promote the adoption of digital payments, highlighting the benefits they offer to providers and users. Design/methodology/approach The paper examines the technological advances that have driven the growth of digital payment systems. It identifies key requirements for successful adoption and discusses the associated risks, along with potential strategies to mitigate these risks. Findings The findings emphasize the importance of responsible implementation and safeguarding the well-being of end users to fully realize the benefits of digital payment adoption. Understanding the inherent risks and establishing effective risk mitigation mechanisms are crucial. This necessitates the development of appropriate infrastructure to support the provision of digital payment services. Research limitations/implications More research is needed to gain deeper insights into how emerging global trends in financial technology should be analyzed and understood by policymakers, service providers and users. Practical implications The findings of this study can guide policymakers, private sector managers and consumers in comprehending the effects of emerging digitalization trends and determining their adoption responses accordingly. Originality/value This paper stands out as one of the few research contributions that provide comprehensive and actionable policy recommendations to facilitate a smooth transition to a digital payments ecosystem that benefits all stakeholders.

PurposeThis study aims to empirically explore the nexus between FinTech and a firm’s cash holdings.Design/methodology/approachA panel data regression analysis is conducted on a sample of A-listed firms registered on the Shenzhen and Shanghai Stock Exchanges from 2011 to 2019. To address simultaneity issues in the study, the authors use various endogeneity tests, including lag of independent variables, generalized method of moments and two-stage least squares estimation.FindingsResults reveal that FinTech has a significantly negative effect on a firm’s cash holdings, suggesting that FinTech development improves cash management by alleviating agency costs and reducing financial constraints. The findings remain consistent across different FinTech measures and alternative cash holding proxies, demonstrating that FinTech serves as a corporate governance mechanism.Practical implicationsThe findings suggest that FinTech disciplines corporate managers and alleviates agency problems regarding cash holdings.Originality/valueThis study suggests that FinTech determines a firm’s cash holdings.