Tracking financial crime through code and law: A review of RegTech applications in anti-money laundering and terrorism financing

Mariam El Harras ()
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Mariam El Harras: ENCGT - Ecole Nationale de Commerce et de Gestion de Tanger - UAE - Abdelmalek Essaadi University [Tétouan] = Université Abdelmalek Essaadi [Tétouan]

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Abstract: Regulatory technology (RegTech) is transforming financial compliance by integrating advanced information technologies to strengthen anti-money laundering and countering the financing of terrorism (AML-CFT) frameworks. Recent literature suggests that such technologies represent more than just an efficiency tool; they mark a paradigm shift in regulation and the evolution of financial oversight (Kurum, 2023). This paper aims to provide a narrative review of recent RegTech applications in financial crime prevention, with a focus on key compliance domains. A structured literature review was conducted to examine publications between 2020 and 2024 with a thematic synthesis of findings related to customer due diligence (CDD) and know your customer (KYC), transaction monitoring, regulatory reporting and compliance automation, information sharing and cross-border cooperation, as well as cost efficiency. Findings reveal that RegTech solutions give financial institutions more responsibility for detecting and managing financial crime risks, making them more active players in compliance processes traditionally overseen by regulators. The combined use of technologies such as artificial intelligence (AI), blockchain, and big data also generates synergistic effects that improve compliance outcomes beyond what these technologies achieve individually. This demonstrates the strategic relevance of integrated RegTech approaches.

Keywords: Compliance Automation; Financial Crime Detection; Systematic Narrative Literature Review; AML-CFT; O33 RegTech; K22; G28; JEL Classification: E44; JEL Classification: E44 G28 K22 O33 RegTech AML-CFT Compliance Automation Financial Crime Detection Systematic Narrative Literature Review (search for similar items in EconPapers)
Date: 2025-08-07
New Economics Papers: this item is included in nep-ict, nep-law, nep-pay and nep-reg
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Published in Corporate Law and Governance Review, 2025, 7 (3), pp.73. ⟨10.22495/clgrv7i3p7⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05324285

DOI: 10.22495/clgrv7i3p7

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