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Purpose: Financial crime costs the world economy more than $1tn. Yet policing responses continue to apply traditional law enforcement methods to detect, identify and disrupt criminal actors in financial systems. The purpose of this paper is to challenge existing thinking around law enforcement practices in financial crime within an Australian context, by presenting an alternative model grounded in management cybernetics and systemic design (SD), which the author terms "cyber-systemics". Design/methodology/approach: This study reflects on prior research work across cybernetics and SD to suggest an integrated approach as a conceptually useful basis for considering regulation of financial crime, and to demonstrate utility using a case study. Findings: The Fintel Alliance between financial crime regulators and financial institutions in Australia demonstrates a strong connection with, and example of, this study's cyber-systemic regulatory framework. It will be demonstrated that the form of co-design framework offered under cyber-systemics is both consistent with cybernetic and SD literature, but also a means of avoiding regulatory disconnection in times of change and disruption. This study also invites consideration of how future forms of governance might be structured using cyber-systemics as a conceptual backbone. Research limitations/implications: This work proposes a novel methodology at odds with traditional law enforcement ways of doing, inevitably requiring a change of regulatory mindset. In addition, this paper is purely conceptual and therefore more research on an empirical basis is required to prove the potential benefits in a real-world regulatory environment. Originality/value: This is (to the author's knowledge) the first conceptual exploration of blending SD and management cybernetics in the field of criminal law regulation. [ABSTRACT FROM AUTHOR]

Purpose: This study compares the motives of holding cash between developed (Australian) and developing (Malaysian) financial markets. Design/methodology/approach: For the period 2006–2020, the t-test, fixed-effect and generalised method of moment (GMM) model have been applied to a sample of 1878 (1,165 Australian and 713 Malaysian) firms. Findings: The empirical results reveal that firms in developed financial markets hold higher cash compared to the developing financial markets. The findings confirm that motives to hold cash differ between developed and developing financial markets. The GMM findings further show that cash holdings (CH) in Australia are higher due to higher ratios of cash flow, research and development (R&D) and return on assets (ROA), and lower due to larger dividend payments. In the Malaysian market, however, cash flows and R&D are ineffectual, ROA falls and dividend payments rise CH. Practical implications: The study helps managers, practitioners and investors understand that firms' distinct economic, institutional, accounting and financial environments are important. To attain the desired outcomes, they must thus comprehend and consider these considerations while developing suitable liquidity strategies. Originality/value: To the authors' best knowledge, this is the initial research demonstrating how varied cash motives and their ramifications are in developed and developing financial markets. Therefore, this study identifies the importance that CH motives varied among financial markets and that findings from a particular market cannot be generalised to other markets because of the market and financial structural variations. [ABSTRACT FROM AUTHOR]