Publications

The Global South Dialogue on Economic Crimes Network seeks to advance dialogue, research, and capacity on economic and financial crimes

1st Edition

Global Anti-Money Laundering Regulation

Developing Countries Compliance Challenges

Edited By Nkechikwu Azinge-Egbiri, Nicholas Ryder, Ehi Eric Esoimeme

Developed countries created the Financial Action Task Force (FATF) to combat money laundering and terrorist financing (ML/TF) globally. Expectedly, the FATF’s standards mirror existing banking regulations within the G7 countries. Yet, the standards apply to all countries irrespective of the limited ML/TF risks they pose to the global economy, their weak pre-conditions for effective regulation, and their non-involvement in the FATF’s framing.

Still, such countries – mainly within the Global South, have worked significantly hard to amplify their compliance with the regime due to fears of the repercussions of their non-compliance. Why is this?

This co-edited book, Global Anti-Money Laundering Regulation: Developing Countries Compliance Challenges, explores the politics of ML/TF regulation in several global south countries across Africa and the Small Island States. It demonstrates how the global ML/TF regulation is an implicitly superior legal regime where the Global South must comply irrespective of their perception of the FATF’s legitimacy challenges. It shows that beyond exogenous factors such as neo-colonialism, endogenous factors such as weak institutions and corruption undermine the compliance trajectory of the global south. Furthermore, it analyses the unintended consequences of transplanting FATF standards into diverse legal and cultural contexts.

This co-edited book contributes to our understanding of the challenges of transplantation from the global north and how the global south is steering within the constraints created by the FATF. The book advocates for a comprehensive understanding of the nuanced compliance challenges of developing countries. It proposes practical solutions to address them, emphasizing the importance of risks understanding, accountability, capacity-building, and coordination in achieving effective AML/CFT measures.

Law and Regulation of Mobile Payment Systems

Issues arising 'post' financial inclusion in Kenya

By Joy Malala

This book addresses the legal and regulatory issues arising out of the introduction of M-Pesa in Kenya and its drive towards financial inclusion. It considers the interaction between regulation and technological innovation with a particular focus on the regulatory tools, institutional arrangements and government decisional processes through the examination as a whole of its regulatory capacity. This is done with a view to understanding the regulatory capacity of Kenya in addressing the vulnerabilities presented by technological innovation in the financial industry for consumers after financial inclusion. It also examines the way that mobile payments have been regulated by criticising the piecemeal approach that the Central Bank of Kenya has taken in addressing the legal and regulatory issues presented by mobile payments. The book argues there are significant gaps in the regulatory regime of mobile banking in Kenya.

The Home in the Digital Age

Edited By Antonio Argandoña, Joy Malala, Richard Peatfield

The Home in the Digital Age is a set of multidisciplinary studies exploring the impact of digital technologies in the home, with a shift of emphasis from technology to the people living and using this in their homes.

The book covers a wide variety of topics on the design, introduction and use of digital technologies in the home, combining the technological dimension with the cognitive, emotional, cultural and symbolic dimensions of the objects that incorporate digital technologies and project them onto people’s lives. It offers a coherent approach, that of the home, which gives unity to the discussion.

Regulating and Combating Money Laundering and Terrorist Financing

The Law in Emerging Economies

By Nkechikwu Valerie Azinge-Egbiri

This book analytically reviews the impact of the global anti-money laundering and counter-terrorist financing (AML/CFT) framework on the compliance trajectory of a number of jurisdictions to this framework.

This book offers a new direction on the impact of global AML/CFT standards on ACs/EEs and contributes to the understanding of the conditions under which the global standards are likely to facilitate proactive compliance within these blocs of countries. As such it will be a valuable resource for academics, researchers and policy-makers working in this area.

Banking Regulation in Africa

The Case of Nigeria and Other Emerging Economies

By Folashade Adeyemo

There is little literature on the development of banking regulation in Nigeria, or the scope of powers of the Central Bank of Nigeria, which is its core banking sector regulator. The critical impetus of this book is to contribute to the literature of this area, with a detailed exploration of the Nigerian regulatory architecture. In addition, the book also engages in a comparative analysis with two emerging economies in Africa: South Africa and Kenya. It also considers the UK and the US as comparator jurisdictions in light of their regulatory responses to the global financial crisis of 2008. This book contributes to the ongoing discourse in this area by exploring, in detail, the theoretical underpinnings of regulation and supervision, to determine whether there is an understanding of what constitutes effective regulation in these jurisdictions.

Bank Insolvency Law in Developing Economies

Edited By Kayode Akintola, Folashade Adeyemo

The subject of bank stability has been under a great amount of political and legislative scrutiny since the mid-2007 – late-2009 global financial crisis. However, these efforts have centered on developed economies. Little coverage is given to strategies adopted by many developing economies. While there is a global discourse on the subject of insolvency generally, there is ample scope to contribute to the growing body of work on the narrow subject of bank insolvencies. This book provides a unique perspective on an emerging theme in at least two respects. First is the focus on selected developing economies and selected developed economies in the EMEA region alongside cross-border developments, with the objective of deciphering the regulatory approach to bank insolvencies. The second is the analytical consideration of methods that may be implemented to preclude or resolve bank insolvencies in developing economies. This book explores the nexus between developing economies and their banking institutions. Developing economies are acutely dependent on their banks for the functioning of their cash-based economies. Recent events, however, suggest a weakness in the long-term viability of some of their banks and a mixed-bag regulatory approach to redress this weakness. This book evaluates the effectiveness of regulatory frameworks in selected developing economies that are designed to prevent or resolve the insolvency of banks. At a time of global economic uncertainty, this book will prove to be a valuable resource to the discourse on the viability of banks, businesses, and economies in developing States.

Principles of Commercial Law

By Richard Austen-Baker, Senior Lecturer in Law, Kayode Akintola, Lecturer in Law, Mukarrum Ahmed, Lecturer in Law, Lancaster University Law School, Lancaster University and Folashade Adeyemo, Lecturer in Law, University of Reading, UK

This introductory-level textbook offers a clear and concise overview of commercial law for undergraduate law students. Covering all the key areas of law that may be included in a commercial law module, including agency, sale of goods, bailments, carriage of goods, commercial financing, and conflict of laws, it also introduces relevant elements of related fields such as banking and insolvency law and touches on emerging issues such as cryptocurrencies.