Anti-Money Laundering (AML) in finance technology (FinTech).

• In Event: Money laundering, economic crime and illicit markets

Abstract

The use of innovative technologies to improve the efficiency of providing existing financial services and creating new ones undoubtedly increases the comfort of payments, while inspiring "creative" transactions, which from the perspective of proper turnover can be classified as money laundering. Thus, the risk of money laundering and terrorism financing resulting from new technologies in the banking sector, especially including electronic payments, has become an inherent feature of economic crime. The significance of this issue can be measured not only by the scale of losses estimated on financial markets, but also by the results of monitoring compliance with regulations aimed at counteracting money laundering (AML).

Author

• Paulina Pawluczuk-Bucko, University in Białystok, Poland, https://orcid.org/0000-0003-1277-599X