Abstract
The methods used for money laundering and terrorist financing are constantly evolving. To ensure an effective fight against these processes, it is necessary to take into account new challenges and threats. The purpose of the article is to reveal the characteristics of the main digital tools that have a decisive impact on anti-money laundering and combating the financing of terrorism. To achieve the goal, the following methods are used: comparative analysis, logical generalization, forecasting. The paper provides a brief description of artificial intelligence, machine learning, robotic process automation, big data, advanced analytics, graph analysis, blockchain. The directions for taking into account the specified advantages of digital tools in the researched field are reflected. The digital technologies and tools discussed are already involved or have great potential to be used in anti-money laundering and combating the financing of terrorism. Currently, digital technologies are being actively used in Ukraine to minimize the shadow sector and increase the effectiveness of the investigation of economic crimes. It was determined that the effectiveness of their application is determined by their successful combination. The possibility of combining these tools is associated with the advantages that digitization processes bring to almost all areas of activity, in particular, the reduction of time and money. Modern digital technologies are only tools for solving the problem, and to solve it, a clear procedure for their application, development of appropriate support is necessary. The effectiveness of the use of digital tools in anti-money laundering and combating the financing of terrorism also depends on creating the proper conditions for their imple- mentation at the country level and defining a clear procedure for their use. Prospects for further research are the identification of threats caused by digitalization in the field of combating money laundering and terrorist financing. This will make it possible to substantiate the directions of further work of international organizations in this field.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Herald UNU. International Economic Relations And World Economy
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
