Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023)

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The Impact of Financial Technology Development on Money Laundering Risks

Authors
Yifan Wang1, *
1School of Banking & Finance, University of International Business and Economics, Beijing, China
*Corresponding author. Email: wangyifan_uibe2021@163.com
Corresponding Author
Yifan Wang
Available Online 30 November 2023.
DOI
10.2991/978-94-6463-298-9_20How to use a DOI?
Keywords
Financial technology development; Money laundering risks; Anti-money laundering
Abstract

The rapid advancement of financial technology has introduced increased complexity into the global landscape of anti-money laundering. This study seeks to examine the influence of a country’s financial technology development on money laundering risks, and whether such impact varies between developing and developed countries. To support our research, we collected data from a sample of 20 economies spanning the time frame of 2012 to 2022, and employed principal component analysis and lagged variables within a multiple linear regression framework. The results indicate that the development of financial technology initially increases money laundering risks in the short term but eventually leads to a reduction in these risks in the long term. Furthermore, this effect is more pronounced in developing countries compared to developed countries. These findings contribute novel insights to the research exploring the role of financial technology in the realm of anti-money laundering.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
30 November 2023
ISBN
978-94-6463-298-9
ISSN
2352-5428
DOI
10.2991/978-94-6463-298-9_20How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yifan Wang
PY  - 2023
DA  - 2023/11/30
TI  - The Impact of Financial Technology Development on Money Laundering Risks
BT  - Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023)
PB  - Atlantis Press
SP  - 180
EP  - 192
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-298-9_20
DO  - 10.2991/978-94-6463-298-9_20
ID  - Wang2023
ER  -