The New Technology of Financial Crime

Rebovich, Donald ; Byrne, James M. (2022) — Routledge eBooks
Synopsis

This Routledge eBook surveys the evolving intersection of finance and technology as it relates to crime. It charts how digital platforms, automated systems, and rapid cross-border flows have transformed the methods by which illicit actors move, conceal, and launder value. Topics include cyber-enabled fraud, phishing and credential theft, money laundering through fintech and crypto channels, ransomware monetization, and the use of synthetic identities. The volume situates these practices within regulatory and policy environments, highlighting how innovation both enables abuse and motivates new forms of supervision and enforcement. Drawing on multidisciplinary perspectives, the book analyzes tools and techniques deployed by defenders, including transaction monitoring, risk scoring, identity verification, and know-your-customer controls, as well as broader governance, risk management, and compliance architectures. It examines data-driven approaches, artificial intelligence, and machine learning in detecting anomalies, tracing flows, and evaluating illicit networks, while considering limits, biases, and ethical concerns. The text also discusses cooperation among financial institutions, regulators, and intermediaries, and the operational challenges of implementing robust controls in diverse regulatory landscapes. Designed for researchers, policymakers, and practitioners, the collection presents conceptual frameworks alongside practical implications for countering financial crime in a digital age. It offers analytic lenses for assessing risk, effectiveness of interventions, and the socio-technical dynamics that shape criminal innovation. Readers can expect concise overviews of key trends, comparative insights across jurisdictions, and pointers to further study. The work functions as a reference point for understanding how emerging technologies reshape financial crime and the evolving strategies used to deter, detect, and disrupt illicit activity.
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