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Financial inclusion, financial crime, and fraud detection

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  • Ozili, Peterson K

Abstract

The objective of this article is to discuss the role of financial inclusion in combating financial crime. It was found that financial crime is a challenge in society. Financial crime is any action or omission that leads to unlawful or illegal financial dealings. Many countries are seeking ways to combat financial crime. Many ideas have been considered on how to combat financial crime. Financial inclusion is a possible solution for combating financial crime. Financial inclusion involves granting access to basic formal financial services to all segments of society. I show that financial inclusion makes the work of investigators easier by leaving an audit trail whenever financial crime is committed in the formal financial system. It helps investigators to detect fraud or financial crime that has occurred in the formal financial system.

Suggested Citation

  • Ozili, Peterson K, 2024. "Financial inclusion, financial crime, and fraud detection," MPRA Paper 121566, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:121566
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    File URL: https://mpra.ub.uni-muenchen.de/121566/1/MPRA_paper_121566.pdf
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    References listed on IDEAS

    as
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    6. Hannig, Alfred & Jansen, Stefan, 2010. "Financial Inclusion and Financial Stability: Current Policy Issues," ADBI Working Papers 259, Asian Development Bank Institute.
    7. Isaac Koomson & Renato A. Villano & David Hadley, 2020. "Effect of Financial Inclusion on Poverty and Vulnerability to Poverty: Evidence Using a Multidimensional Measure of Financial Inclusion," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 149(2), pages 613-639, June.
    8. Rajesh Barik & Sanjaya Kumar Lenka, 2023. "Does financial inclusion control corruption in upper-middle and lower-middle income countries?," Asia-Pacific Journal of Regional Science, Springer, vol. 7(1), pages 69-92, March.
    9. Ibrahim Niankara & Riham Muqattash, 2020. "The impact of financial inclusion on consumers saving and borrowing behaviours: a retrospective cross-sectional evidence from the UAE and the USA," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 20(2), pages 217-242.
    10. Mahmood Ahmad & Abdul Majeed & Muhammad Asif Khan & Muhammad Sohaib & Khurram Shehzad, 2021. "Digital financial inclusion and economic growth: provincial data analysis of China," China Economic Journal, Taylor & Francis Journals, vol. 14(3), pages 291-310, September.
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    More about this item

    Keywords

    financial inclusion; financial crime; fraud detection;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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