Exploring detection and prevention of money laundering with information technology

Exploring detection and prevention of money laundering with information technology

Purpose Regarding the magnitude of the impact caused by money laundering, the size of the organization and the many parties involved, this paper aims to explore the methods used in detecting money laundering, especially the use of technology. Design/methodology/approach This research is a literature...

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Bibliographic Details
Published in:Journal of money laundering control Vol. 27; no. 6; pp. 995 - 1004
Main Authors: Aprilia, Geo Finna,  , Meiryani
Format: Journal Article
Language:English
Published: London Emerald Publishing Limited 25-10-2024
Emerald Group Publishing Limited
Subjects:
Bank accounts
Corruption in government
Criminal investigations
Data collection
Financial institutions
Literature reviews
Methods
Money laundering
Nominations
Organized crime
Restaurants
Indonesia
Social network analysis
Data mining
Technology
Artificial intelligence
Money laundering
Machine learning
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Summary:Purpose Regarding the magnitude of the impact caused by money laundering, the size of the organization and the many parties involved, this paper aims to explore the methods used in detecting money laundering, especially the use of technology. Design/methodology/approach This research is a literature review from various research sources originating from Pro-Quest, Emerald, Science Direct and Google Scholar. Findings The researchers found that the most widely used methods for detecting money laundering were artificial intelligence, machine learning, data mining and social network analysis. Research limitations/implications This research is expected to help the government or institutions such as the police, forensic accountants and investigative auditors in the fight against money laundering. This research is limited to only a few sources, and it is hoped that further research can explore more deeply related to other methods for detecting money laundering. Originality/value This paper discusses the methods that are widely used in detecting money laundering.
ISSN:1368-5201
1758-7808
DOI:10.1108/JMLC-08-2023-0138