The Roles of Technology in Anti-Money Laundering
##plugins.themes.bootstrap3.article.main##
##plugins.themes.bootstrap3.article.sidebar##
Published
Apr 30, 2025
Abstract
In the context of globalization, the intensified complexity and covertness of money laundering have undermined the effectiveness of traditional anti-money laundering measures. Meanwhile, emerging technologies are bringing new opportunities as well as challenges to anti-money laundering efforts. This article seeks to explore the roles of technology in anti-money laundering, focusing on analyzing the applications, benefits, and challenges of big data, artificial intelligence, blockchain, and biometric technologies in this area. The study finds that these technologies can significantly enhance the financial institutions’ capability to monitor and identify money laundering acts, despite the issues, such as data privacy and security, technological complexities, and legislative gaps, encountered in their application. It also proposes suggestions about how to fully leverage technology to combat money laundering, including strengthening data security mechanisms, promoting multi-agency collaboration, improving the framework of legislation and regulations, and increasing anti-money laundering education for the public.
##plugins.themes.bootstrap3.article.details##
Keywords
Anti-Money Laundering, Application of Technology, Big Data, Artificial Intelligence, Blockchain, Biometrics
References
Agorbia-Atta, C., & Atalor, I. (2024). Enhancing anti-money laundering capabilities: The strategic use of AI and cloud technologies in financial crime prevention. World Journal of Advanced Research and Reviews, 23(2), 2035-2047. DOI: https://doi.org/10.30574/wjarr.2024.23.2.2508
Anti-Money Laundering Research Group of the People’s Bank of China. (2020). Prospects of blockchain applications in anti-money laundering. Financial Computerization, 2020(10), 11-13. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHrhvyIO9NDaySapWOSoMEW_Cm8zvNpsTGlMGK-9fZbXp4GVc2gv0Yn8xrPMFXwjE4QC61gv21SJMkw7DBLvXylQlin7-WO8_zxeGE6vtkFBzAgDR5u2LkkbudhnYJeLaVoRJgkSxEZqqOY57-fyePEOCaPPlJwyABdzwx-sUxS4tg==&uniplatform=NZKPT&language=CHS
Ba, S., Chen, X., & Zhu, Y. (2020). The application of regulatory technology in anti-money laundering and prospects. Jiang-Huai Tribune, 2020(04), 5-12+2. DOI: https://doi.org/10.16064/j.cnki.cn34-1003/g0.2020.04.001
Barone, R., & Schneider, F. G. (2018). Shedding light on money laundering. Is it a damping wave. SSRN Electronic Journal, 43(0), 1-36. DOI: http://dx.doi.org/10.2139/ssrn.3204289
Chen, X. (2024). The roles of RPA and machine learning in anti-money laundering in financial institutions. FinTech Time, 32(09), 50-54. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHpzTK5KYZd8Zl9uDkKTiNBEYMa6nLO8XfgGWqP5JrBS6ToVWUAiAW-tkNYkwK7KUE4IY_Os93J-erpAp02VanB_iRCHUw1GWG1HmKY3x_9a_PiW7MX1bjaVXi3E4SYhsCig796CPJ9q-7VIE1k7dU9Xh5fuElUQZMoW-SbJVlVJtA==&uniplatform=NZKPT&language=CHS
Force, F. A. T. (1999). What is money laundering. Policy Brief, July 1999. Available at: https://www.bahamasb2b.com/b2b/big_picture/download/FATF_Laundering.pdf
Fu, L. (2023). The application of big data technology in anti-money laundering by commercial banks. Heilongjiang Finance, 2023(02), 79-81. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoeH_9V6flE_PHfVlp_p2uaHhQxT8D0xTs5pF2Qa8bwsHxf2HYmchu1YwpwntHjmrnOd1LwnEjcjPdsCQr892nGNiSAWHCJyie_H8u-3QejQ6_8IFgYB1pURhMmPuQwhfEdzDRNFChQaNJwfoJZKFLHv-1I4NuEwddJ3qntMzF4Rw==&uniplatform=NZKPT&language=CHS
Gerbrands, P., Unger, B., Getzner, M., & Ferwerda, J. (2022). The effect of anti-money laundering policies: An empirical network analysis. EPJ Data Science, 11(1), 15. https://doi.org/10.1140/epjds/s13688-022-00328-8
Gui, L. (2024). The application of big data technology in the monitoring and analysis of suspicious transactions in anti-money laundering efforts of commercial banks. Industrial Innovation, 2024(19), 133-135. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoQA7xCayW-su_37QQ2xw6dWa9LeB2hNjNuRKHfzaocGsl7SwV5Th2KAl3xumDXQnhbzur-eXcZ48ldeW8_pYQEQemxds_mdFBh-a76xwxszzRI_DMH57vrBxTcjsn0IWETxaVCJlUOHF9sJQlZvnn3hEvWsawRwqgaFxnZ77c_YQ==&uniplatform=NZKPT&language=CHS
Han, J., Huang, Y., Liu, S., & Towey, K. (2020). Artificial intelligence for anti-money laundering: A review and extension. Digital Finance, 2(3), 211-239. DOI: https://doi.org/10.1007/s42521-020-00023-1
Hua, A. & Wang, Y. (2020). The application of blockchain technology in anti-money laundering in commercial banks. Modern Bankers, 2020(10), 142-143. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoKoH-kC1NSrLoB_0VlKIQ-9FcuJn-naPKIVAsLjKbQwJUowlqriQpp4BalB_gUvbPdxmPRoTJA_YHCYK2ANfcmIZB9dUT0y5jf3an4_uPLEr2TV5yYt4pnVilbkOqX0nEIxriTTs7ihWJnSeH2e58P_yOXN1A9WgIEuF6-uIJs1Q==&uniplatform=NZKPT&language=CHS
Huang, J. Y. (2015). Effectiveness of US anti-money laundering regulations and HSBC case study. Journal of Money Laundering Control, 18(4), 525-532. DOI: https://doi.org/10.1108/JMLC-05-2015-0018
Ji, R., Yang, X., & Wang, Y. (2023). Financial technology-enabled digital transformation in anti-money laundering. The Chinese Banker, 2023(01), 90-93. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHqYeopA5FFlDqW1u-6nuhVy-J3qaHg6kOL9vYXL8L_Zoo-Hxo0nOnAFxda5c3dpouPnA5NH3maKWw7stCEKOut8YYNe9xmvhJmlt70R_PskocvJgoQwoWHjTOX-jPyzNCLuwx7MPORia3CEbyxAHSbbMzxceLNF0nQML6JA7lUi0Q==&uniplatform=NZKPT&language=CHS
Jiang, G., Wu, Q., & Hong, X. (2024). The impact of blockchain technology on global anti-money laundering. Financial Tribune, 2024(01), 103-105. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoDrqhPgKo8No74gVx3gEH8E7UIfVpuEWY2phQVUf3gsdrbAfkZ-LUdlZDA2lv7FvO45HvWc7OASRjAnq5Mhh6lgc9HnKkW2IaE8k4HRyOqdX2HkBckYXYSUsYw935agXvl88twQr4JUlZ-WWdVvrhQmWI1iCrbRKQLaMpSLg68aA==&uniplatform=NZKPT&language=CHS
Jiang, H. (2024). Application Technologies and Challenges of Big Data Analytics in Anti-Money Laundering and Financial Fraud Detection. Open Journal of Applied Sciences, 14(11), 3226-3236. https://doi.org/10.4236/ojapps.2024.1411213
Liao, D. (2019). Blockchain-based monitoring in anti-money laundering efforts. Modern Economic Information, 2019(24), 66+68. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoVri245g05IOMEVxFpyNeFZjZt2DUVYY_JhiNTPzbp_eBewxNHORucoet-qkPJIu_1IAEm1SOn0Su7DcKs7P1YDhNfauwQfjlLwFKmoSoihTc-_McWI5Wr-0T6a4OskTs4k83eWlz8AoN-r8HtO_bFgIItBRZZZficInlOcz41qA==&uniplatform=NZKPT&language=CHS
Ren, J. (2024). Cross-border money laundering and countermeasures. China Finance, 2024(03), 50-51. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHq9PeI9pSBAKyZTPP-nDz_PsVru1-afoMgsGDaT46toQPPJs8G4-QYHSga_Kc6JtDSE77rzIrLsIZhNj2kfn7c_2GKIwdT7WDsxD1Zx0rbyietG3pc5i_KOYL9I9Pj_2KKeZ6Oku8UWbDde1EvvBL4w39wkxGYnbcdi9aW5rtpg9A==&uniplatform=NZKPT&language=CHS
Shao, Q., Jin, C., Zhang, Z., Qian, W. & Zhou, A. (2018). Blockchain Technology: Architecture and Progress. Chinese Journal of Computers, 41(05), 969-988. Available at: https://link.cnki.net/urlid/11.1826.TP.20171115.2302.006
Sun, J. & Zhao, Q. (2022). The evolution and prospects of anti-money laundering research: An analysis based on Citespace. Wuhan Finance, 2022(06), 83-88+12. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHrB8nVb1dzRetkGm4x-OeIB-FwdyczWZIjURfAidCVo-bNZ1PqT3IVcjq_jimNLjdSjVH7-YjRH_5C6EPkDrkgU7ogIZF5kfp9YhBzeTLflNwnZhJw1xzF0wqtK76a3B5R1XX62VILyuMt5z4UGLenfACbefoycoRv0O6z2IHHAvQ==&uniplatform=NZKPT&language=CHS
Thommandru, A., & Chakka, B. (2023). Recalibrating the banking sector with blockchain technology for effective anti-money laundering compliances by banks. Sustainable Futures, 5, 100107. DOI: https://doi.org/10.1016/j.sftr.2023.100107
Tiwari, M., Gepp, A., & Kumar, K. (2020). A Review of Money Laundering Literature: The State of Research in Key Areas. Pacific Accounting Review, 32(2), 271-303. DOI: https://doi.org/10.1108/PAR-06-2019-0065
Tsapa, J. A. (2023). Artificial Intelligence Use Cases for Banking Anti-Money Laundering. Journal of Artificial Intelligence, Machine Learning and Data Science, 1(2), 259-264. DOI: https://doi.org/10.51219/JAIMLD/joseph-aaron-tsapa/81
Utkina, M. (2023). Digital identification and financial monitoring: New technologies in the fight against crime. Scientific Journal of Polonia University, 58(3), 303-308. DOI https://doi.org/10.23856/5842
Wang, X. (2022). The application of innovative technologies in anti-money laundering and prospects. Fujian Finance, 2022(09), 70-77. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoSNhU15TZ4xkEhR9g515Cp1e9ETBDWIuDTlXk4YIFHij9OD4LK8iSlmVE9nBbbTxT41VvyxmiN5ehrEKWgDFSLZ-jpoAL98oCftP7by8ivBKYTxLuF9f7hTXYL9GU9NGAqyYhP4lxqAJt-eJbtvNvZ5zkhY-E6myIRCOmLwzXwYg==&uniplatform=NZKPT&language=CHS
Zhao, M. & Tian, Y. (2021). The impact of financial technology on anti-money laundering and suggestions. Journal of ABC University, 2021(01), 38-41. DOI: https://doi.org/10.16678/j.cnki.42-1864/f.2021.01.008.
Anti-Money Laundering Research Group of the People’s Bank of China. (2020). Prospects of blockchain applications in anti-money laundering. Financial Computerization, 2020(10), 11-13. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHrhvyIO9NDaySapWOSoMEW_Cm8zvNpsTGlMGK-9fZbXp4GVc2gv0Yn8xrPMFXwjE4QC61gv21SJMkw7DBLvXylQlin7-WO8_zxeGE6vtkFBzAgDR5u2LkkbudhnYJeLaVoRJgkSxEZqqOY57-fyePEOCaPPlJwyABdzwx-sUxS4tg==&uniplatform=NZKPT&language=CHS
Ba, S., Chen, X., & Zhu, Y. (2020). The application of regulatory technology in anti-money laundering and prospects. Jiang-Huai Tribune, 2020(04), 5-12+2. DOI: https://doi.org/10.16064/j.cnki.cn34-1003/g0.2020.04.001
Barone, R., & Schneider, F. G. (2018). Shedding light on money laundering. Is it a damping wave. SSRN Electronic Journal, 43(0), 1-36. DOI: http://dx.doi.org/10.2139/ssrn.3204289
Chen, X. (2024). The roles of RPA and machine learning in anti-money laundering in financial institutions. FinTech Time, 32(09), 50-54. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHpzTK5KYZd8Zl9uDkKTiNBEYMa6nLO8XfgGWqP5JrBS6ToVWUAiAW-tkNYkwK7KUE4IY_Os93J-erpAp02VanB_iRCHUw1GWG1HmKY3x_9a_PiW7MX1bjaVXi3E4SYhsCig796CPJ9q-7VIE1k7dU9Xh5fuElUQZMoW-SbJVlVJtA==&uniplatform=NZKPT&language=CHS
Force, F. A. T. (1999). What is money laundering. Policy Brief, July 1999. Available at: https://www.bahamasb2b.com/b2b/big_picture/download/FATF_Laundering.pdf
Fu, L. (2023). The application of big data technology in anti-money laundering by commercial banks. Heilongjiang Finance, 2023(02), 79-81. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoeH_9V6flE_PHfVlp_p2uaHhQxT8D0xTs5pF2Qa8bwsHxf2HYmchu1YwpwntHjmrnOd1LwnEjcjPdsCQr892nGNiSAWHCJyie_H8u-3QejQ6_8IFgYB1pURhMmPuQwhfEdzDRNFChQaNJwfoJZKFLHv-1I4NuEwddJ3qntMzF4Rw==&uniplatform=NZKPT&language=CHS
Gerbrands, P., Unger, B., Getzner, M., & Ferwerda, J. (2022). The effect of anti-money laundering policies: An empirical network analysis. EPJ Data Science, 11(1), 15. https://doi.org/10.1140/epjds/s13688-022-00328-8
Gui, L. (2024). The application of big data technology in the monitoring and analysis of suspicious transactions in anti-money laundering efforts of commercial banks. Industrial Innovation, 2024(19), 133-135. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoQA7xCayW-su_37QQ2xw6dWa9LeB2hNjNuRKHfzaocGsl7SwV5Th2KAl3xumDXQnhbzur-eXcZ48ldeW8_pYQEQemxds_mdFBh-a76xwxszzRI_DMH57vrBxTcjsn0IWETxaVCJlUOHF9sJQlZvnn3hEvWsawRwqgaFxnZ77c_YQ==&uniplatform=NZKPT&language=CHS
Han, J., Huang, Y., Liu, S., & Towey, K. (2020). Artificial intelligence for anti-money laundering: A review and extension. Digital Finance, 2(3), 211-239. DOI: https://doi.org/10.1007/s42521-020-00023-1
Hua, A. & Wang, Y. (2020). The application of blockchain technology in anti-money laundering in commercial banks. Modern Bankers, 2020(10), 142-143. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoKoH-kC1NSrLoB_0VlKIQ-9FcuJn-naPKIVAsLjKbQwJUowlqriQpp4BalB_gUvbPdxmPRoTJA_YHCYK2ANfcmIZB9dUT0y5jf3an4_uPLEr2TV5yYt4pnVilbkOqX0nEIxriTTs7ihWJnSeH2e58P_yOXN1A9WgIEuF6-uIJs1Q==&uniplatform=NZKPT&language=CHS
Huang, J. Y. (2015). Effectiveness of US anti-money laundering regulations and HSBC case study. Journal of Money Laundering Control, 18(4), 525-532. DOI: https://doi.org/10.1108/JMLC-05-2015-0018
Ji, R., Yang, X., & Wang, Y. (2023). Financial technology-enabled digital transformation in anti-money laundering. The Chinese Banker, 2023(01), 90-93. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHqYeopA5FFlDqW1u-6nuhVy-J3qaHg6kOL9vYXL8L_Zoo-Hxo0nOnAFxda5c3dpouPnA5NH3maKWw7stCEKOut8YYNe9xmvhJmlt70R_PskocvJgoQwoWHjTOX-jPyzNCLuwx7MPORia3CEbyxAHSbbMzxceLNF0nQML6JA7lUi0Q==&uniplatform=NZKPT&language=CHS
Jiang, G., Wu, Q., & Hong, X. (2024). The impact of blockchain technology on global anti-money laundering. Financial Tribune, 2024(01), 103-105. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoDrqhPgKo8No74gVx3gEH8E7UIfVpuEWY2phQVUf3gsdrbAfkZ-LUdlZDA2lv7FvO45HvWc7OASRjAnq5Mhh6lgc9HnKkW2IaE8k4HRyOqdX2HkBckYXYSUsYw935agXvl88twQr4JUlZ-WWdVvrhQmWI1iCrbRKQLaMpSLg68aA==&uniplatform=NZKPT&language=CHS
Jiang, H. (2024). Application Technologies and Challenges of Big Data Analytics in Anti-Money Laundering and Financial Fraud Detection. Open Journal of Applied Sciences, 14(11), 3226-3236. https://doi.org/10.4236/ojapps.2024.1411213
Liao, D. (2019). Blockchain-based monitoring in anti-money laundering efforts. Modern Economic Information, 2019(24), 66+68. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoVri245g05IOMEVxFpyNeFZjZt2DUVYY_JhiNTPzbp_eBewxNHORucoet-qkPJIu_1IAEm1SOn0Su7DcKs7P1YDhNfauwQfjlLwFKmoSoihTc-_McWI5Wr-0T6a4OskTs4k83eWlz8AoN-r8HtO_bFgIItBRZZZficInlOcz41qA==&uniplatform=NZKPT&language=CHS
Ren, J. (2024). Cross-border money laundering and countermeasures. China Finance, 2024(03), 50-51. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHq9PeI9pSBAKyZTPP-nDz_PsVru1-afoMgsGDaT46toQPPJs8G4-QYHSga_Kc6JtDSE77rzIrLsIZhNj2kfn7c_2GKIwdT7WDsxD1Zx0rbyietG3pc5i_KOYL9I9Pj_2KKeZ6Oku8UWbDde1EvvBL4w39wkxGYnbcdi9aW5rtpg9A==&uniplatform=NZKPT&language=CHS
Shao, Q., Jin, C., Zhang, Z., Qian, W. & Zhou, A. (2018). Blockchain Technology: Architecture and Progress. Chinese Journal of Computers, 41(05), 969-988. Available at: https://link.cnki.net/urlid/11.1826.TP.20171115.2302.006
Sun, J. & Zhao, Q. (2022). The evolution and prospects of anti-money laundering research: An analysis based on Citespace. Wuhan Finance, 2022(06), 83-88+12. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHrB8nVb1dzRetkGm4x-OeIB-FwdyczWZIjURfAidCVo-bNZ1PqT3IVcjq_jimNLjdSjVH7-YjRH_5C6EPkDrkgU7ogIZF5kfp9YhBzeTLflNwnZhJw1xzF0wqtK76a3B5R1XX62VILyuMt5z4UGLenfACbefoycoRv0O6z2IHHAvQ==&uniplatform=NZKPT&language=CHS
Thommandru, A., & Chakka, B. (2023). Recalibrating the banking sector with blockchain technology for effective anti-money laundering compliances by banks. Sustainable Futures, 5, 100107. DOI: https://doi.org/10.1016/j.sftr.2023.100107
Tiwari, M., Gepp, A., & Kumar, K. (2020). A Review of Money Laundering Literature: The State of Research in Key Areas. Pacific Accounting Review, 32(2), 271-303. DOI: https://doi.org/10.1108/PAR-06-2019-0065
Tsapa, J. A. (2023). Artificial Intelligence Use Cases for Banking Anti-Money Laundering. Journal of Artificial Intelligence, Machine Learning and Data Science, 1(2), 259-264. DOI: https://doi.org/10.51219/JAIMLD/joseph-aaron-tsapa/81
Utkina, M. (2023). Digital identification and financial monitoring: New technologies in the fight against crime. Scientific Journal of Polonia University, 58(3), 303-308. DOI https://doi.org/10.23856/5842
Wang, X. (2022). The application of innovative technologies in anti-money laundering and prospects. Fujian Finance, 2022(09), 70-77. Available at: https://kns.cnki.net/kcms2/article/abstract?v=wUXT8w3WHHoSNhU15TZ4xkEhR9g515Cp1e9ETBDWIuDTlXk4YIFHij9OD4LK8iSlmVE9nBbbTxT41VvyxmiN5ehrEKWgDFSLZ-jpoAL98oCftP7by8ivBKYTxLuF9f7hTXYL9GU9NGAqyYhP4lxqAJt-eJbtvNvZ5zkhY-E6myIRCOmLwzXwYg==&uniplatform=NZKPT&language=CHS
Zhao, M. & Tian, Y. (2021). The impact of financial technology on anti-money laundering and suggestions. Journal of ABC University, 2021(01), 38-41. DOI: https://doi.org/10.16678/j.cnki.42-1864/f.2021.01.008.
How to Cite
Liu, J. (2025). The Roles of Technology in Anti-Money Laundering. Science Insights, 46(4), 1813–1819. https://doi.org/10.15354/si.25.re1175
Issue
Section
Review
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.