Do Digital Technologies Facilitate Illicit Financial Flows?
The emerging concept of illicit financial flows has become a crosscutting issue on the international agenda in recent years. This umbrella term refers to money illegally earned, transferred, or used. With the development of digital technologies, th...
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/02/25851779/world-development-report-2016-digital-dividends-digital-technologies-facilitate-illicit-financial-flows http://hdl.handle.net/10986/23803 |
| Summary: | The emerging concept of illicit
financial flows has become a crosscutting issue on the
international agenda in recent years. This umbrella term
refers to money illegally earned, transferred, or used. With
the development of digital technologies, the use of
information and communications networks as a tool for
facilitating illicit financial flows is rising as one of the
key challenges in tackling the problem of the movement of
illegal funds. Digital technologies facilitate illicit
financial flows at each stage, be it earning money
illegally, transferring illegal funds, or using them. There
are several areas where clear links between technology and
illicit financial flows can be established. Part one defines
illicit financial flows to establish the scope of the
problem and provide the context for further analysis. Part
two focuses on the issue of digital technologies in the
process of earning money illegally and transferring illicit
funds, and analyzes how technology can help in the process
of acquisition, transfers, and integration of illicit finds.
Part three discusses the role of technology in fighting
illicit financial flows. Part four concludes with
suggestions for further areas of research in this field and
ways to tackle the problem more effectively. |
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