Financial inclusion, financial crime, and fraud detection

Peterson Ozili

MPRA Paper from University Library of Munich, Germany

Abstract: The objective of this article is to discuss the role of financial inclusion in combating financial crime. It was found that financial crime is a challenge in society. Financial crime is any action or omission that leads to unlawful or illegal financial dealings. Many countries are seeking ways to combat financial crime. Many ideas have been considered on how to combat financial crime. Financial inclusion is a possible solution for combating financial crime. Financial inclusion involves granting access to basic formal financial services to all segments of society. I show that financial inclusion makes the work of investigators easier by leaving an audit trail whenever financial crime is committed in the formal financial system. It helps investigators to detect fraud or financial crime that has occurred in the formal financial system.

Keywords: financial inclusion; financial crime; fraud detection (search for similar items in EconPapers)
JEL-codes: G21 G28 M42 M48 (search for similar items in EconPapers)
Date: 2024
New Economics Papers: this item is included in nep-acc, nep-fle and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:121566

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