International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
Call for Papers | Fully Refereed | Open Access | Double Blind Peer Reviewed

ISSN: 2319-7064


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Informative Article | Computer Engineering | India | Volume 9 Issue 4, April 2020 | Rating: 5.1 / 10


Cross - Border Financial Crime Detection - A Review Paper

Ankur Mahida [10]


Abstract: This review focuses on the cross - border financial crime detection environment from a technical perspective with the support of reference papers. The era of globalization has seen financial crimes ratchet up with the need for international collaboration to fight these crimes effectively. The article focuses on challenges and opportunities related to broadening detection systems, overcoming legal administrative barriers, and designing principles for data collection across borders. The challenges include jurisdictional issues across countries, different views on financial crimes, and privacy regulations. On the other hand, these can be said to identify some areas where improved detection may come through international collaborations, information sharing, and new technologies. The areas of cooperation include developing and implementing blockchain technology, machine learning algorithms, and trust - building among nations. Among the core elements that arise, frameworks for cross - border data collection become an important issue, and strategic solutions are needed to harmonize practices within national sovereignties. The review ends with an emphasis on the need for collaborative, multination action toward combating transnational crimes in finances, thus recognizing a global community of convergence and tolerance to changing criminal initiatives.


Keywords: Cross - border financial crime, financial intelligence, big data analytics, machine learning, blockchain, cross - border data exchange, regulatory technology (RegTech), Anti - Money Laundering (AML), Know Your Customer (KYC)


Edition: Volume 9 Issue 4, April 2020,


Pages: 1808 - 1813


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