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Abstract

This dissertation focuses on the evolution of the information system tool landscape, and its implications for money laundering activities. Particular focus is put on the potential risks offered to cyber laudnerers. Furthermore, this study highlights how technology is developing rapidly, especially in the areas of artificial intelligence, blockchain, and data encryption, and how these technologies are being utilised for illegal financial activities. For the aims of this research to be reached, a mixed-methodology approach was employed, the use of quantitative analysis of academic data, and qualitative semi-structured interviews with professionals in the field. The results reveal that although new technologies assist lawful organisations to operate more efficiently and leverage new services, they also give cybercriminals more advanced tools to hide their illicit activity. In addition, this study pinpoints important risk elements, such as the element of anonymity that cryptocurrency offers and the difficulty in spotting AI-driven money laundering operations. Nonetheless, it also draws attention to ways that law enforcement organisations may use these same technology to strengthen their anti-money laundering (AML) plans. In order to tackle cyber laundering, the study's recommendations for policymakers include tighter rules on developing technologies and greater international collaboration. Conclusively, this study highlights the paradoxical character of technological progress in financial systems, underscoring the necessity of a well-rounded strategy that optimises security advantages while minimising related risks. Subsequent investigations ought to concentrate on creating forecasting models that can foresee and prevent novel methods of money laundering as they surface.

Course: Economic Crime - MSc - P3493FTC

Date Deposited: 2024-11-21

URI/permalink: https://library.port.ac.uk/dissert/dis14558.html