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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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    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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