The Development of Money Laundering Knowledge in Relation to the Electronic Money

Amelia and Fidelis Arastyo Andono ()
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Amelia: University of Surabaya
Fidelis Arastyo Andono: University of Surabaya

A chapter in Proceedings of the 20th International Symposium on Management (INSYMA 2023), 2024, pp 542-547 from Springer

Abstract: Abstract According to the United Nations Office on Drugs and Crime (UNODC) forecast, the amount of money laundered globally amounted to 2–5% of the global GDP. The money laundering process has changed over time, and the use of electronic money has increased over the years. Previous research has shown that the arrival of electronic money attracts many people to find other money laundering methods using electronic payment. The Financial Task Force has shown commercial websites and internet payment systems’ vulnerability. However, since electronic money is still in its infancy, its development must be limited to prevent money laundering. Therefore, this paper shows how electronic money was used in money laundering in Indonesia. The method used was a systematic review; the journals reviewed were from 2015 to 2022. The result shows that electronic money has a role in money laundering, especially in the placement stage. Indonesia still needs to find the correct code to stop money laundering in the digital era.

Keywords: electronic money; money laundering; anti-money laundering (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-244-6_77

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DOI: 10.2991/978-94-6463-244-6_77

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