THE RISING THREAT OF FINANCIAL CRIMES: CHALLENGES AND COUNTERMEASURES
Keywords:
Financial crimes, money laundering, fraud, insider trading, cyber financial crimes, corruption, regulatory measures.Abstract
Financial crimes pose a significant threat to global economies, financial institutions, and individuals. These crimes include money laundering, fraud, insider trading, cyber financial crimes, and corruption. This paper examines the causes, impact, and prevention mechanisms of financial crimes through a systematic review of recent studies. The findings indicate that financial crimes are evolving with advancements in technology, making detection and prevention increasingly challenging. Governments and financial institutions are implementing stringent regulations, advanced analytics, and artificial intelligence to combat these crimes. This paper highlights the need for a collaborative approach involving law enforcement, regulatory agencies, and private entities to mitigate financial crimes effectively.
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