IDEAS home Printed from https://ideas.repec.org/a/bjz/ajisjr/1922.html
   My bibliography  Save this article

Electronic Money and Payments as Means of Committing Crimes

Author

Listed:
  • Andrii A. Vozniuk
  • Andrii V. Savchenko
  • Tetiana Yu. Tarasevych
  • Olexandr O. Dudorov
  • Olga A. Klymenko

Abstract

The article deals with the main problems of criminal characteristics of electronic money and payments as instruments of crime. The article reveals the economic and legal nature of electronic money (e-money). The features of e-money and its relation to electronic payments are identified. It is proved that intensive development of the IT sector results in an increasing replacement of cash by cashless methods of payment, and e-money is required for making payments online. E-money is previously created in all cases where they are stored on an electronic device and are used as means of payment, therefore they significantly reduce the level of abuse against property. Criminals in the real estate leasing sector use it as a tool when they commit cybercrime - a new place that has been transformed into a powerful source using for crime. Particular attention in this article is paid to the criminal characteristics of electronic money as an instrument of crime. Electronic money has been updated to account for a significant number of offending characters, while these crimes operate in free currency from a non-supported market and move to electronic services, they are used, and may be joined by warehouse resources, which require a criminal law level. It also indicates that e-money is being received by its billing service, and then can be exploited by attackers to trick owners who have already participated in their work. Through this process, using e-money and electronic payment is almost legal and covers the concept of legality. It is disclosed that the main complexity in detecting malicious tools creates electronic money, which makes it difficult to track the traces of such crime, which uses its delays in cyber space. The author also reveals an accurate view of electronic money resources, such as what is more likely to be abused, which is an additional element of criminal execution qualification.

Suggested Citation

  • Andrii A. Vozniuk & Andrii V. Savchenko & Tetiana Yu. Tarasevych & Olexandr O. Dudorov & Olga A. Klymenko, 2020. "Electronic Money and Payments as Means of Committing Crimes," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 9, July.
    • Handle: RePEc:bjz:ajisjr:1922
    DOI: https://doi.org/10.36941/ajis-2020-0069
    as

    Download full text from publisher

    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/12143
    Download Restriction: no
    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/12143/11742
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.36941/ajis-2020-0069?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Richard Wright & Erdal Tekin & Volkan Topalli & Chandler McClellan & Timothy Dickinson & Richard Rosenfeld, 2017. "Less Cash, Less Crime: Evidence from the Electronic Benefit Transfer Program," Journal of Law and Economics, University of Chicago Press, vol. 60(2), pages 361-383.
    2. Armey, Laura E. & Lipow, Jonathan & Webb, Natalie J., 2014. "The impact of electronic financial payments on crime," Information Economics and Policy, Elsevier, vol. 29(C), pages 46-57.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fernando Borraz & Ignacio Munyo, 2020. "Conditional Cash Transfers and Crime: Higher Income but also Better Loot," Economics Bulletin, AccessEcon, vol. 40(2), pages 1804-1813.
    2. Nicholas Clerkin & Andrew Hanson, 2021. "Debit Card Incentives and Consumer Behavior: Evidence Using Natural Experiment Methods," Journal of Financial Services Research, Springer;Western Finance Association, vol. 60(2), pages 135-155, December.
    3. Lucas A. Mariani & Jose Renato Haas Ornelas & Bernardo Ricca, 2023. "Banks’ Physical Footprint and Financial Technology Adoption," Working Papers Series 576, Central Bank of Brazil, Research Department.
    4. Erdal Tekin & Volkan Topalli & Chandler McClellan & Richard Wright, 2014. "Liquidating Crime with Illiquidity: How Switching from Cash to Credit Can Stop Street Crime," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 12(2), pages 45-50, October.
    5. Giammatteo, Michele & Iezzi, Stefano & Zizza, Roberta, 2022. "Pecunia olet. Cash usage and the underground economy," Journal of Economic Behavior & Organization, Elsevier, vol. 204(C), pages 107-127.
    6. Agur, Itai & Ari, Anil & Dell’Ariccia, Giovanni, 2022. "Designing central bank digital currencies," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 62-79.
    7. Kawsar Ahmad & Arifuzzaman Arifuzzaman & Abdullah Al Mamun & Junayed Md Khaled Bin Oalid, 2021. "Impact of consumer’s security, benefits and usefulness towards cashless transaction within Malaysian university student," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 10(2), pages 238-250, March.
    8. Lovett Nicholas, 2018. "Food Stamps, Income Shocks, and Crime: Evidence from California," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 18(4), pages 1-19, October.
    9. Asif Islam & Silvia Muzi & Jorge Luis Rodriguez Meza, 2018. "Does mobile money use increase firms’ investment? Evidence from Enterprise Surveys in Kenya, Uganda, and Tanzania," Small Business Economics, Springer, vol. 51(3), pages 687-708, October.
    10. Brown, Martin & Hentschel, Nicole & Mettler, Hannes & Stix, Helmut, 2022. "The convenience of electronic payments and consumer cash demand," Journal of Monetary Economics, Elsevier, vol. 130(C), pages 86-102.
    11. Mariani, Lucas A. & Haas Ornelas, José Renato & Ricca, Bernardo, 2023. "Banks’ Physical Footprint and Financial Technology Adoption," IDB Publications (Working Papers) 12812, Inter-American Development Bank.
    12. Richard Wright & Erdal Tekin & Volkan Topalli & Chandler McClellan & Timothy Dickinson & Richard Rosenfeld, 2017. "Less Cash, Less Crime: Evidence from the Electronic Benefit Transfer Program," Journal of Law and Economics, University of Chicago Press, vol. 60(2), pages 361-383.
    13. Brett Watson & Mouhcine Guettabi & Matthew Reimer, 2020. "Universal Cash and Crime," The Review of Economics and Statistics, MIT Press, vol. 102(4), pages 678-689, October.
    14. Brian Blankenship & Renanah Miles Joyce, 2020. "Purchasing Power: US Overseas Defense Spending and Military Statecraft," Journal of Conflict Resolution, Peace Science Society (International), vol. 64(2-3), pages 545-573, February.
    15. Leora Klapper, 2023. "How digital payments can benefit entrepreneurs," IZA World of Labor, Institute of Labor Economics (IZA), pages 396-396, April.
    16. Dale T. Manning & Jesse Burkhardt, 2022. "The local effects of federal law enforcement policies: Evidence from sanctuary jurisdictions and crime," Contemporary Economic Policy, Western Economic Association International, vol. 40(3), pages 423-438, July.
    17. L. Vimal Raj & S. Amilan & K. Aparna & Karthick Swaminathan, 2024. "Factors influencing the adoption of cashless transactions during COVID-19: an extension of enhanced UTAUT with pandemic precautionary measures," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 488-507, June.
    18. Rainone, Edoardo, 2023. "Tax evasion policies and the demand for cash," Journal of Macroeconomics, Elsevier, vol. 76(C).
    19. Freddy Castro Badillo & Daniela Londoño Avellaneda & Federico Medina Cifuentes, 2022. "Transacciones en línea y bienestar financiero," Coyuntura Económica, Fedesarrollo, vol. 52, pages 127-150, December.
    20. Hanna Armelius & Carl Andreas Claussen & André Reslow, 2022. "Withering Cash: Is Sweden Ahead of the Curve or Just Special?," International Journal of Central Banking, International Journal of Central Banking, vol. 18(4), pages 1-52, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bjz:ajisjr:1922. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Richtmann Publishing Ltd (email available below). General contact details of provider: https://www.richtmann.org/journal/index.php/ajis .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.