The Impact of Financial Technology Development on Money Laundering Risks

Yifan Wang ()
Additional contact information
Yifan Wang: University of International Business and Economics, School of Banking & Finance

A chapter in Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023), 2023, pp 180-192 from Springer

Abstract: 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.

Keywords: Financial technology development; Money laundering risks; Anti-money laundering (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-298-9_20

Ordering information: This item can be ordered from
http://www.springer.com/9789464632989

DOI: 10.2991/978-94-6463-298-9_20

Access Statistics for this chapter

More chapters in Advances in Economics, Business and Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().