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The Political Economy of Wasta: Use and Abuse of Social Capital Networking

The term ‘wasta stems from the Arabic root for ‘middle’ or ‘medium’ and describes the phenomenon of using ‘connections’ to find job, government services or other favors to circumvent bureaucracy or bypass the system as a whole. The effects of ‘wasta’ may be both positive or negative, and is not a phenomenon that is particular to the Arab or Muslim world, but also to many other cultures and regions of the world, with similar concepts popularly known as ubuntu, guanxi, harambee, naoberschop, or “old boy network” used in African, Chinese and European societies. By its very nature ‘wasta’ is an area of grey or even black information, and, like corruption to which it is most often associated, is hard to assess although country corruption perception indexes attempt to provide a quantifiable basis. In the final analysis such ratings are based on perceptions of corruption, and this perception may vary strongly depending on different societal structures and cultural modes, whether these are extended family systems, tribal, clans or more atomized societies where relationships are essentially transactional and rule based. In a western perspective where ‘wasta’ may be considered as a form of corruption, in other societies it may be perceived as something ‘natural’ and not criminal, and using one's ‘wasta’ in tribal societies to help clan members is seen as a duty. The difference stems from the 'innocent ' use of ‘wasta’ to make introductions, as opposed to its abuse in placing unqualified persons in positions .The volume brings together academics and professional experts to examine a range of multi-faceted social, economic and political issues raised by the use and abuse of social networking, covering various topics like: ‘wasta’ interpersonal connections in family and business ties, The relationship between inequality-adjusted human development and corruption perception indexes in the Gulf region, ‘wasta’ and business networking, assessing the economic cost of ‘wasta’, ‘wasta’ and its impact on quality oriented education reform and the perceptions of young people, The use of ‘wasta’ to overcome socio-cultural barriers for women and men The volume also offers insights into social relations and ethics, and how the use of ‘wasta’ contradicts with common held religious principles, along with some country studies on Islamic principles and the use of ‘wasta’. Mohamed Ramady is a Visiting Associate Professor, King Fahd University of Petroleum and Minerals, Saudi Arabia.

In the final analysis such ratings are based on perceptions of corruption, and this perception may vary strongly depending on different societal structures and cultural modes, whether these are extended family systems, tribal, clans or more ...

The Arab Spring in the Global Political Economy

Although it is still early for an established academic account of the motivations behind the dramatic events in the Arab world in 2010/11, Leila Simona Talani believes that it is about time to try and place this issue into the broader picture of the latest changes in the global political economy.

Although it is still early for an established academic account of the motivations behind the dramatic events in the Arab world in 2010/11, Leila Simona Talani believes that it is about time to try and place this issue into the broader ...

Anti-Money Laundering, Counter Financing Terrorism and Cybersecurity in the Banking Industry

A Comparative Study within the G-20

Despite massive investments in mitigation capabilities, financial crime remains a trillion-dollar global issue with impacts that extend well beyond the financial services industry. Worldwide, there are between $800 billion and $2 trillion laundered annually with the United States making up at least $300 billion of that figure. Although it is not possible to measure money laundering in the same way as legitimate economic activity, the scale of the problem is considered enormous. The cybersecurity landscape is always shifting, with threats becoming more sophisticated all the time. Managing risks in the banking and financial sectors requires a thorough understanding of the evolving risks as well as the tools and practical techniques available to address them. Cybercrime is a global problem, which requires a coordinated international response. This book outlines the regulatory requirements that come out of cyber laws and showcases the comparison in dealing with AML/CFT and cybersecurity among the G-20, which will be of interest to scholars, students and policymakers within these fields.

Banking. Industry. Banks are among the largest institutions in the field of finance. Since banks worldwide mediate millions of transactions throughout the day, these institutions are at a higher risk of financial crimes.

Understanding Cybersecurity Management in FinTech

Challenges, Strategies, and Trends

This book uncovers the idea of understanding cybersecurity management in FinTech. It commences with introducing fundamentals of FinTech and cybersecurity to readers. It emphasizes on the importance of cybersecurity for financial institutions by illustrating recent cyber breaches, attacks, and financial losses. The book delves into understanding cyber threats and adversaries who can exploit those threats. It advances with cybersecurity threat, vulnerability, and risk management in FinTech. The book helps readers understand cyber threat landscape comprising different threat categories that can exploit different types of vulnerabilties identified in FinTech. It puts forward prominent threat modelling strategies by focusing on attackers, assets, and software and addresses the challenges in managing cyber risks in FinTech. The authors discuss detailed cybersecurity policies and strategies that can be used to secure financial institutions and provide recommendations to secure financial institutions from cyber-attacks.

Banks in Africa and South- east Asia are aware of the potential for making lucrative profits in these markets (Reed 2016). 1.5 FinTech and Banking Traditional financial institutions play a significant role in building the economy.

Biometric-Based Physical and Cybersecurity Systems

This book presents the latest developments in biometrics technologies and reports on new approaches, methods, findings, and technologies developed or being developed by the research community and the industry. The book focuses on introducing fundamental principles and concepts of key enabling technologies for biometric systems applied for both physical and cyber security. The authors disseminate recent research and developing efforts in this area, investigate related trends and challenges, and present case studies and examples such as fingerprint, face, iris, retina, keystroke dynamics, and voice applications . The authors also investigate the advances and future outcomes in research and development in biometric security systems. The book is applicable to students, instructors, researchers, industry practitioners, and related government agencies staff. Each chapter is accompanied by a set of PowerPoint slides for use by instructors.

Banking. Sector. This case study includes identification and discussion on various issues and factors related to implementing biometrics in banking sector, specifically for the user authentication and control [38].

HCI for Cybersecurity, Privacy and Trust

Third International Conference, HCI-CPT 2021, Held as Part of the 23rd HCI International Conference, HCII 2021, Virtual Event, July 24–29, 2021, Proceedings

This book constitutes the refereed proceedings of the Third International Conference on HCI for Cybersecurity, Privacy and Trust, HCI-CPT 2021, held as part of the 23rd International Conference, HCI International 2021, which took place virtually in July 2021. The total of 1276 papers and 241 posters included in the 39 HCII 2021 proceedings volumes was carefully reviewed and selected from 5222 submissions. HCI-CPT 2021 includes a total of 30 papers; they were organized in topical sections named: usable security; security and privacy by design; user behavior analysis in cybersecurity; and security and privacy awareness.

Therefore, husbands usually inform their wives/children/mother of their banking credentials and asset information in case of emergency. On the other hand, the main reasons for sharing passwords among couples in western cultures are the ...

Cybersecurity in the Age of Smart Societies

Proceedings of the 14th International Conference on Global Security, Safety and Sustainability, London, September 2022

This book provides an opportunity for researchers, scientists, government officials, strategist and operators and maintainers of large, complex and advanced systems and infrastructure to update their knowledge with the state of best practice in the challenging domains whilst networking with the leading representatives, researchers and solution providers. The ongoing pandemic has created a new level of threats which presents new challenges around privacy, data protection, malicious application, unprotected networks or networks with basic protection that are being used as a gateway to larger infrastructure with complicated architecture, and unintentional misuse such as those associated with algorithmic bias. All these have increased the number of attack vectors that can be used to attack such networks. Drawing on 13 years of successful events on information security, digital forensics and cyber-crime, the 14th ICGS3-22 conference aims to provide attendees with an information-packed agenda with representatives from across the industry and the globe. The challenges of complexity, rapid pace of change and risk/opportunity issues associated with modern products, systems, special events and infrastructures. In an era of unprecedented volatile, political and economic environment across the world, computer-based systems face ever more increasing challenges, disputes and responsibilities, and whilst the Internet has created a global platform for the exchange of ideas, goods and services, it has also created boundless opportunities for cyber-crime. This volume presents new materials and contribute to knowledge through the technological advances that are being made across artificial intelligence (AI), machine learning, blockchain and quantum computing. These technologies driven by a digital revolution are expected to be disruptive and provide major digital transformation in the way societies operate today. As result, although these advances provide social and economic benefits, but, also, provide new challenges that security industry need to raise their game to combat them.

Law enforcement agencies in Bangladesh often receive complaints about direct or indirect cyber threats to financial transactions through online banking. On February 12, 2016, evidence of 21 suspicious card transactions was found from ...

Advances in Cybersecurity Management

This book concentrates on a wide range of advances related to IT cybersecurity management. The topics covered in this book include, among others, management techniques in security, IT risk management, the impact of technologies and techniques on security management, regulatory techniques and issues, surveillance technologies, security policies, security for protocol management, location management, GOS management, resource management, channel management, and mobility management. The authors also discuss digital contents copyright protection, system security management, network security management, security management in network equipment, storage area networks (SAN) management, information security management, government security policy, web penetration testing, security operations, and vulnerabilities management. The authors introduce the concepts, techniques, methods, approaches and trends needed by cybersecurity management specialists and educators for keeping current their cybersecurity management knowledge. Further, they provide a glimpse of future directions where cybersecurity management techniques, policies, applications, and theories are headed. The book is a rich collection of carefully selected and reviewed manuscripts written by diverse cybersecurity management experts in the listed fields and edited by prominent cybersecurity management researchers and specialists.

9.6.1.3 Financial The financial sector has been implementing technologies to serve customers online or via mobile banking well before the onset of the pandemic. Foot traffic in bank branches was in decline before the pandemic, ...

Total Quality Management as a Holistic Management Concept

The European Model for Business Excellence

In this book Total Quality Management is introduced as a holistic management concept. An instrument to measure this approach is the European Model for Business Excellence which is well known in many European countries for national quality prizes. The book explains this model in great detail and shows how to implement it in an organisational development process. A description of the most relevant management tools in this context, like self-assessment, policy deployment and benchmarking, will be of particular interest to the reader. The book combines in a unique way the theoretical background of the subject with practical experience in consulting. The reader will understand the necessity of holistic approaches and will learn how the European Business Excellence Model overcomes traditional ways of measuring business results.

In this book Total Quality Management is introduced as a holistic management concept.

Islamic Economic Alternatives

Critical Perspectives and New Directions

The global Islamic resurgence of the last two decades has spawned parallel intellectual efforts to articulate an alternative Islamic way of life. This volume critically assesses much of what is said to be Islamic economics today - its theories, assumptions, concepts and the alternatives it claims to offer. While critical of much of contemporary Islamisation and the interests such economic policies protect, the current relevance of progressive policy alternatives inspired by Islamic economic morality is also analyzed.

This volume critically assesses much of what is said to be Islamic economics today - its theories, assumptions, concepts and the alternatives it claims to offer.