Project description:Financial services organisations facilitate the movement of money worldwide, and keep records of their clients’ identity and financial behaviour. As such, they have been enlisted by governments worldwide to assist with the detection and prevention of money laundering, which is a key tool in the fight to reduce crime and create sustainable economic development, corresponding to Goal 16 of the United Nations Sustainable Development Goals. In this paper, we investigate how the technical and contextual affordances of machine learning algorithms may enable these organisations to accomplish that task. We find that, due to the unavailability of high-quality, large training datasets regarding money laundering methods, there is limited scope for using supervised machine learning. Conversely, it is possible to use reinforced machine learning and, to an extent, unsupervised learning, although only to model unusual financial behaviour, not actual money laundering.
Project description:This study conducts a randomised control trial to offer a technical workshop and examine whether providing information about the full range of services on the mobile money platform would increase mobile money usage, by taking a case of the Ashanti Region, Ghana. We find a significant positive impact of mobile money education on the recent usage of mobile money for transactions. However, no significant evidence of the workshop was found on new mobile money account ownership, or on the share of transactions transmitted through mobile money. Furthermore, weak and volatile outcomes were observed as impacts on remittances after the interventions. We discuss potential reasons behind the weak effects found.Supplementary informationThe online version contains supplementary material available at 10.1057/s41287-022-00529-x.
Project description:Money is an important factor that influences the development of romantic relationships. The current paper examines how the feeling of having relatively more or less money influences human mating strategies in long-term and short-term mating contexts under the framework of evolutionary psychology. We recruited mainland Chinese college students involved in steady, heterosexual romantic relationships to participate in two experiments. In each study, we experimentally triggered participants' feelings of having relatively more or less money and then examined their thoughts and behaviors related to mating. Results of Study 1 showed that men who were primed to feel that they had relatively more money were less satisfied with their partners' physical attractiveness than those primed to feel that they had less money, suggesting that the subjective feeling of having more or less money may affect men's preferences regarding the physical appearance of a mate in a long-term relationship. Interestingly, this difference was not significant for women. Results of Study 2 indicated that both men and women who were primed to feel that they had relatively more money exhibited a greater "behavioral approach tendency" toward an attractive member of the opposite sex than those primed to feel that they had less money. This finding suggests that people who feel they have relatively more money may have more interest in an attractive alternative than those who feel they have relatively less money. The differences in mating strategies between and within the genders brought about by money support the evolutionary hypothesis that individuals adopt conditional mating strategies in response to environmental conditions. Additionally, the results of experimental studies provide evidence for the causal effects of money on mating strategies. These findings have both conceptual and practical implications for the psychology of evolution and romantic relationships.
Project description:With the rapid proliferation of mobile telephony and the establishment of an IT-enabled payment and settlement system, Bangladesh nowadays is experiencing a remarkable growth in the usage of mobile financial services (MFS). As more and more people are opting to use this service, a huge number of mobile accounts are opened every day and a substantial amount of money is deposited, withdrawn and transferred frequently through the mobile network. This ever-increasing amount of mobile money flowing through the network may have a sizeable impact on the overall money supply of the country. Thus far, no systematic study has been conducted to quantify the impact of the mobile money on the conventional money supply of Bangladesh. In this study, we attempt to quantify the contribution of mobile money on the money supply which is an important quantity-based nominal anchor of monetary policy in Bangladesh. Apart from deriving algebraic relationships between money supply and e-money, here we have empirically shown that during the 03 years span of 2018-2021, MFS transactions account for nearly 10.88% and 11.29% of total narrow and broad money supply of Bangladesh as on January 2021. Besides, we also qualitatively discuss the impact of e-money on an important price-based nominal anchor of monetary policy in Bangladesh, i.e., interest rate. Based upon the above discussion, here we argue that MFS can act as an effective tool to slash interest rate by a reasonable proportion through adding significantly to the overall supply of money in Bangladesh.
Project description:Aim:Money is an essential element in gambling but gambling disorders are more often discussed from the perspective of individual and psychological experiences than in the context of financial practices. Losing money is often among the first signs of problem gambling as well as being a motive for treatment-seeking. This article asks: what kinds of practices and meanings do problem gamblers assign to money in their everyday lives? Design:The data consist of 17 individual interviews with problem gamblers in Finland. The participants form a heterogeneous group of people with different financial backgrounds. Their discourses on money are systematically organised into a structured qualitative content analysis. Results:The results reveal four main conceptual traits of money as an everyday gambling-related problem: (1) a compelling need for money; (2) disposable money defining the tempo of gambling; (3) the balance between using money for gambling and spending it on other matters of everyday life; and (4) gradual spiral of increased money-related problems. Conclusions:Problem gambling re-organises the uses and sources of money in everyday life, and changes the meanings of money. Nevertheless, gambling spending does not seem to be utterly out of control, rather, on one hand, disposable income organises spending episodically, and on the other hand, problem gamblers exercise a certain degree of control over their household expenses. This observation could promote problem gamblers' sense of control when recovering.this page for more information about identifying these."-->.