IDEAS home Printed from https://ideas.repec.org/a/jfr/afr111/v13y2024i2p167.html
   My bibliography  Save this article

The Nexus of Cybercrime and Money Laundering: A Conceptual Paper

Author

Listed:
  • Mohd Afiq bin Azero
  • Sarah Nur Aisyah Kay Abdullah
  • Zailawati Zakaria
  • Hasfaliza Haris
  • Yusri Hazrol Yusoff

Abstract

The nexus between cybercrime and money laundering poses significant challenges that require a holistic understanding and strengthened global efforts to address. Cybercrimes provide financial motivation for criminals to engage in illicit activities. Techniques like cryptocurrency laundering and exploiting online payment systems allow criminals to disguise illegal proceeds. Investigating these modern financial crimes faces hurdles from rapid technological advancements, encryption, international jurisdiction issues, and lack of standardized information sharing between agencies and sectors. Gaps exist in current anti- money laundering legal frameworks in properly criminalizing emerging cyber threats and prosecuting related offenses effectively, as seen in the Malaysian context. Reforms are needed to enhance enforcement mechanisms, risk assessment practices, and the role of regulatory authorities like the Financial Intelligence Unit. A comprehensive approach combining updated laws, improved inter-agency coordination, public-private collaboration, and adaptive strategies is crucial to counter the evolving nexus between cybercrime and money laundering in today's digital landscape.

Suggested Citation

  • Mohd Afiq bin Azero & Sarah Nur Aisyah Kay Abdullah & Zailawati Zakaria & Hasfaliza Haris & Yusri Hazrol Yusoff, 2024. "The Nexus of Cybercrime and Money Laundering: A Conceptual Paper," Accounting and Finance Research, Sciedu Press, vol. 13(2), pages 167-167, May.
    • Handle: RePEc:jfr:afr111:v:13:y:2024:i:2:p:167
    as

    Download full text from publisher

    File URL: https://www.sciedupress.com/journal/index.php/afr/article/download/25877/16038
    Download Restriction: no
    File URL: https://www.sciedupress.com/journal/index.php/afr/article/view/25877
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Husameddin Alshaer & Muhamad Helmi Md. Said & Ramalinggam Rajamanickam, 2021. "The role of the Palestine monetary authority in combating money laundering," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 24(4), pages 762-774, June.
    2. Howard Chitimira & Sharon Munedzi, 2023. "Historical aspects of customer due diligence and related anti-money laundering measures in South Africa," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 26(7), pages 138-154, April.
    3. Milind Tiwari & Jamie Ferrill & Vishal Mehrotra, 2022. "Using graph database platforms to fight money laundering: advocating large scale adoption," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 26(3), pages 474-487, April.
    4. Avitus Agbor Agbor, 2022. "A delineation of the impact of illicit financial flows on the right to development: details from Cameroon’s special criminal court," Journal of Financial Crime, Emerald Group Publishing Limited, vol. 30(4), pages 877-890, April.
    5. Fahmi Bin Adilah & Mohd Zamre Mohd Zahir & Hasani Mohd. Ali & Muhamad Sayuti Hassan, 2022. "A study of Malaysian anti-money laundering law and the impact on public and private sector," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 26(4), pages 831-844, April.
    6. Ejike Ekwueme, 2021. "The dichotomisation fallacy of public and private corruption and the quantification dilemma," Journal of Financial Crime, Emerald Group Publishing Limited, vol. 28(4), pages 1179-1192, May.
    7. Eugene E. Mniwasa, 2021. "Institutionalizing the fight against money laundering in Tanzania: the potential, limitations and challenges," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 25(4), pages 792-832, September.
    8. Todd Hataley, 2020. "Trade-based money laundering: organized crime, learning and international trade," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 23(3), pages 651-661, March.
    9. Rafael Pontes & Nick Lewis & Paul McFarlane & Patrick Craig, 2021. "Anti-money laundering in the United Kingdom: new directions for a more effective regime," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 25(2), pages 401-413, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Anna Bussu & Domenica Giovanna Dettori & Maria Gabriela Ladu & Manuela Pulina, 2024. "Illegal drugs and socio-economic changes in a new pivotal region: a court judgements perspective," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-14, December.
    2. Sergiu Soimu & Galina Badicu & Diana Rencheci, 2023. "Requirements for Audit Firms Regarding the Prevention and Combating of Money Laundering," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1094-1102, August.
    3. Maisarah Binti Mustaffa & Muhamad Helmi Md Said & Muhammad Amrullah Bin Drs Nasrul & Muhamad Sayuti Bin Hassan & Ramalinggam Rajamanickam & Nur Khalidah Dahlan, 2022. "Criminal Profiling Then and Now: Prospect and Challenges in Malaysia," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 11, January.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jfr:afr111:v:13:y:2024:i:2:p:167. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sciedu Press (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.