Browsing by Author "Sivaguru, Dinesh"

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Exploring the nexus: macroeconomic factors and reported money laundering cases – a cross-sectional analysis in Sri Lanka
(The Library, University of Kelaniya, Sri Lanka, 2023) Tilakasiri, K.K.; Sivaguru, Dinesh
In today's global landscape, money laundering and terrorist financing present formidable challenges. This study investigates potential correlations between Sri Lanka's macroeconomic factors—specifically GDP, Foreign Direct Investment (FDI)—and reported money laundering cases. Leveraging qualitative data from the Central Bank of Sri Lanka (CBSL) and employing linear regression analysis, the research adopts a qualitative approach to unravel the nuanced connections between economic conditions and financial crimes. The primary purpose of this research is to identify and understand the relationships between Macroeconomic Factors and Reported Money Laundering Cases. The findings hold the potential to provide valuable insights for policymakers, financial institutions, and law enforcement, contributing to the development of more effective anti-money laundering strategies and policies tailored to Sri Lanka's unique context. The anticipated findings aim to shed light on the intricate interplay between GDP, FDI, and money laundering instances, offering a deeper understanding of the challenges faced by Sri Lanka. Such insights could pave the way for more informed decision-making in combating financial crimes. The implications of this study extend beyond academia, with practical applications for shaping policies and strategies that address the specific dynamics of money laundering in Sri Lanka.
A study of the underground banking system in Sri Lanka – a phenomenon of Boyle’s law
(Emerald Publishing Limited, 2023) Sivaguru, Dinesh; Tilakasiri, Kamal
Purpose – The purpose of the study is to examine the available literature to comprehend what the underground banking system is, for what purposes this method is used and how policymakers should proceed to address this issue. Design/methodology/approach – The approach involved conducting this study and combining it with a critical analysis of the available literature as well as the available historical data. The sources the study has explored include government documents, public hearings, academic articles, case studies and articles available on the internet. Findings – The study revealed prevention of illegal proceeds is critical, still regulating one entity, is a phenomenon of Boyle’s law, “squeezing the balloon”. If one end of the balloon is squeezed, making the volume smaller, the pressure inside increases, making the un-squeezed part of the balloon expand out. The real issue is not how criminals transfer their illegal earnings; it is the criminals themselves. Hence, the policy decision on this issue needs to be carefully considered. Research limitations/implications – Due to the complexity of the operating system of Undiyal, this study had a number of limitations, as do many others. Firstly, there are no records of the Undiyal agents or the volumes of transactions publicly available. However, comprehending the scope of the underground operation that exists in the country is quite difficult. Practical implications – The study contributes to the academic researchers grasping what type of future research should be focused on in this area according to the study. Social implications – From the point of view of its practical application, the study seeks to resolve social issues that the middle-class population experiences on a daily basis and that have a huge and adverse impact on GDP. Originality/value – To the best of the authors’ knowledge, this is an original contribution.