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AbstractIslamist terrorism poses a significant threat to global security. Current prevention measures focus largely on combating terrorist financing in order to hinder terrorist organizations' ability to pay their fighters and orchestrate attacks, with the aim of weakening their structures. The banking sector in particular is subject to strict regulations that intend to increase transparency and identify suspicious transactions. However, the present study illustrates that the banking sector continues to offer opportunities for terrorist financing. Using a qualitative study of 15 presumed providers of illegal financial services and 15 compliance experts to detail how terrorist financiers abuse the financial system to fund terrorist organizations, this paper has implications for both compliance officers and regulating authorities. In particular, the perceived challenges facing those at the frontline of the banking sector in detecting and preventing terrorist financing are analyzed with the intention to establish avenues for future research and countering the financing of terrorism regulation.

Crises and emergencies tend to increase opportunities for corruption in public procurement. This article shows how the Covid-19 pandemic has given rise to new corruption opportunities and how regulators are trying to combat these, using the example of the case of the Bosnian raspberry firm Srebrena Malina. The literature review concludes that prevention mechanisms focus on the legal and regulatory aspects without considering firms' perspectives. In contrast, an approach based on summary content analysis may help firms develop potential self-monitoring solutions that they can apply to ensure compliance with anti-corruption regulations and avoid sanctions. Explorative expert interviews with ten international compliance experts are also conducted. The findings illustrate that whistleblowing incentives could foster compliance with existing regulations and policies in public procurement. This article advocates a more consequential implementation of the current anti-corruption and public procurement regulations alongside self-monitoring measures in the form of whistleblowing incentives.

With the rise of digitalization, myriad new technologies are currently revolutionizing most, if not all, markets. One such technology that is receiving particular attention from businesses, private market participants, the financial sector, and governments alike is the blockchain. Despite its increasing popularity, most jurisdictions currently fail to adequately regulate it, meaning that businesses cannot exploit the full potential of blockchain technology and its various applications. This article explains how blockchains function and delineates their associated compliance risks. Here, particular attention will be paid to both decentralized cryptocurrencies and stablecoins. How decentralized cryptocurrencies could potentially be abused for money laundering, terrorism financing, and corruption purposes will be illustrated, and different legislation and international approaches to dealing with blockchain technology and cryptocurrencies will be highlighted. Lastly, the impact of blockchain technology and its implications for actors in the digitalized economy will be discussed.

Prior to the conflict, the situation in Ukraine had been escalating for several years. The nation is now divided between pro-Europe and pro-Russia activists and there seems to be no solution in sight. Within the scope of the conflict, Europe and the US have closely scrutinised Russia, accusing it of purposely destabilising east Ukraine. The EU and the US imposed sanctions on Russia in 2014 in response to its actions in the Ukraine conflict and its annexation of Crimea. Russia responded with counter-sanctions, mainly affecting agri-foods imports into Russia. This article first discusses both western and Russian sanctions in depth. It then analyses the impacts on both parties, illustrating how bilateral sanctions between the EU and Russia influence trade flows and economies. Possible methods of circumvention for both import bans and sanctions against individuals are also analysed and recommendations made to European producers regarding their dealings with Russia. Subsequently, the article shows why current sanctions are rather ineffective and provides suggestions for their improvement. Lastly, future prospects are deliberated.

This research paper analyses how countries in the western Balkans have been affected by corruption and how, despite significant efforts, corrupt practices continue to present barriers to their long-standing goal of joining the European Union. Corruption has severely negative impacts on economic growth and a country's international reputation, and so we infer that a different approach is required. Ten expert interviews were conducted in an explorative research approach in order to examine the concept of anti-bribery compliance incentives. Interview partners were asked to address how anti-bribery incentives could be employed by multinational corporations in order to eliminate corruption. Subsequent discussion illustrates how our findings could be combined with other measures towards eliminating corruption across all sectors. The overall purpose of this research, and its contribution, lies in exploring a new method of tackling corruption and developing innovative theory to gain a more profound understanding of the concept, its implications for the Balkans and how it could yet be addressed more effectively.