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“Cyber-laundering”: the change of money laundering in the digital age

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  • Christoph Wronka

Abstract

Purpose - This study aims to illustrate and determine how illegally obtained funds are laundered through online platforms and companies in different economic sectors in the digital age. Design/methodology/approach - A qualitative analysis approach using purpose sampling methods, including 21 semi-structured interviews with prevention experts, compliance officers and convicted cybercriminals, resulted in the determination of concrete money-laundering methods involving the employment of online platforms provided by companies and institutions in different economic sectors. Findings - The current study focuses on various companies in different economic segments that mitigate cyber laundering and the anti-money laundering measures that can be adopted. Therefore, this paper provides a detailed discussion and analysis on how money launderers avoid being detected. Both preventive and criminal perspectives are taken into consideration. Originality/value - By identifying the gaps in the current anti-money-laundering mechanisms, it will provide compliance officers, legislators and law enforcement agencies with an in-depth insight into how cyber laundering operates in various economic sectors.

Suggested Citation

  • Christoph Wronka, 2021. "“Cyber-laundering”: the change of money laundering in the digital age," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 25(2), pages 330-344, June.
    • Handle: RePEc:eme:jmlcpp:jmlc-04-2021-0035
    DOI: 10.1108/JMLC-04-2021-0035
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