The other War on Terror revealed: global governmentality and the Financial Action Task Force's campaign against terrorist financing

Abstract. Despite initial fanfare surrounding its launch in the White House Rose Garden, the War on Terrorist Finances (WOTF) has thus far languished as a sideshow, in the shadows of military campaigns against terrorism in Afghanistan and Iraq. This neglect is unfortunate, for the WOTF reflects the other multilateral cooperative dimension of the US-led ‘war on terror’, quite contrary to conventional sweeping accusations of American unilateralism. Yet the existing academic literature has been confined mostly to niche specialist journals dedicated to technical, legalistic and financial regulatory aspects of the WOTF. Using the Financial Action Task Force (FATF) as a case study, this article seeks to steer discussions on the WOTF onto a broader theoretical IR perspective. Building upon emerging academic works that extend Foucauldian ideas of governmentality to the global level, we examine the interwoven overlapping national, regional and global regulatory practices emerging against terrorist financing, and the implications for notions of government, regulation and sovereignty

Banks, knowledge and crisis: a case of knowledge and learning failure

Purpose – Regulators such as Turner have identified excessive securitization, high leverage, extensive market trading and a bonus culture, as being major factors in bringing about the bank centred financial crisis of 2007-2009. Whilst it is inevitable that banks adopt procyclical business strategies, not all banks took excessive risks and subsequently had to be rescued by taxpayers. The paper examines the extent to which individual bank outcomes can be attributed to systematic differences in banking knowledge concerning the primary risks and value drivers of their organisations by bank board directors and top management. Design/methodology/approach – The paper reviews a wide range of theoretical, historical and empirical literatures on banking models and detailed case analyses of failing and non-failing banks. A framework for understanding the role and application of knowledge in banking is developed which suggests how banks, despite their pro-cyclical business strategies, are able to institutionalise learning and actively create new knowledge through time to improve bank organisation, intermediation and risk management. Findings – The paper finds that a lack of basic knowledge of banking risks and value drivers by the boards and senior managers of the failing banks were implicated in the banking crisis. These knowledge problems concerned banks' understanding of their organisation, intermediation and risk management in an active market setting characterised by rapid economic and organisational change. Thus, the failing banks ignored or were unaware of this knowledge and hence experienced acute difficulties with learning the new knowledge needed to address the new problems thrown-up by the financial crisis. Practical implications – The analysis suggests that addressing this knowledge gap via the institutionalisation of banking knowledge ought to constitute an important element of any sustainable solution to the problems currently being experienced by the banking sector. By ensuring greater bank learning, knowledge creation, and knowledge use, governments and regulators could help reduce individual bank risk and the likelihood of future crisis. Originality/value – In contrast to the claims made by some politicians and banking insiders, the analysis indicates that the banking crisis and its severity were neither unpredictable nor unavoidable since some banks, by institutionalising banking knowledge and history of past crises, successfully avoided the pitfalls experienced by the failing banks

The Informatics Audit - A Collaborative Process

The paper present issues regarding the audit in informatics field, the audit seen as a collaborative process and how the collaborative banking systems are audited. In this paper, the methodology and techniques for an effective audit process are described. There are highlighted some aspects regarding the assessment of collaborative systems and specific flows of informatics audit.Informatics Audit, Collaborative Process, Collaborative System, Methodology, Banking

Nice to know

The byproduct of today’s massive interconnectivity is that basically nothing and no-one is immune to cyber attacks any longer. Sadly, this can be demonstrated rather trivially. It is therefore not surprising that there is no other research area in computer science with as much social and\ud political impact as computer security. We all know that ‘perfect security’ does not exist. However, when it comes to our IT security research agenda we forget this and dedicate our energies to delivering ‘provably secure’\ud technology. This a limiting factor: including insecurity in our security research is a great challenge which will open new application areas.\ud Taking advantage of this multidisciplinary terrain, ‘Nice to Know’ talks about old lessons we have not learned in the past and a few crucial challenges we have to tackle in the future, both in research and in education

Artificial Intelligence for the Financial Services Industry: What Challenges Organizations to Succeed?

As a research field, artificial intelligence (AI) exists for several years. More recently, technological breakthroughs, coupled with the fast availability of data, have brought AI closer to commercial use. Internet giants such as Google, Amazon, Apple or Facebook invest significantly into AI, thereby underlining its relevance for business models worldwide. For the highly data driven finance industry, AI is of intensive interest within pilot projects, still, few AI applications have been implemented so far. This study analyzes drivers and inhibitors of a successful AI application in the finance industry based on panel data comprising 22 semi-structured interviews with experts in AI in finance. As theoretical lens, we structured our results using the TOE framework. Guidelines for applying AI successfully reveal AI-specific role models and process competencies as crucial, before trained algorithms will have reached a quality level on which AI applications will operate without human intervention and moral concerns

The Internationalization of Finance and Defense in Postcommunist Poland

Poland; political economy; NATO; economic policy; institutionalisation; international relations; socialization; security/external

Quality assessment technique for ubiquitous software and middleware

The new paradigm of computing or information systems is ubiquitous computing systems. The technology-oriented issues of ubiquitous computing systems have made researchers pay much attention to the feasibility study of the technologies rather than building quality assurance indices or guidelines. In this context, measuring quality is the key to developing high-quality ubiquitous computing products. For this reason, various quality models have been defined, adopted and enhanced over the years, for example, the need for one recognised standard quality model (ISO/IEC 9126) is the result of a consensus for a software quality model on three levels: characteristics, sub-characteristics, and metrics. However, it is very much unlikely that this scheme will be directly applicable to ubiquitous computing environments which are considerably different to conventional software, trailing a big concern which is being given to reformulate existing methods, and especially to elaborate new assessment techniques for ubiquitous computing environments. This paper selects appropriate quality characteristics for the ubiquitous computing environment, which can be used as the quality target for both ubiquitous computing product evaluation processes ad development processes. Further, each of the quality characteristics has been expanded with evaluation questions and metrics, in some cases with measures. In addition, this quality model has been applied to the industrial setting of the ubiquitous computing environment. These have revealed that while the approach was sound, there are some parts to be more developed in the future