Financial Technology and the Law: Combating Financial Crime

This book explores how financial technologies such as blockchain, cryptocurrencies, open banking, virtual assets, and artificial intelligence are providing alternatives to traditional financial services. It also highlights the risks associated with these technologies, such as money laundering, terrorist financing, and cyber security, and discusses the regulatory and enforcement challenges related to them. The book aims to promote responsible financial innovation while ensuring financial prosperity and social inclusion.

Format: Paperback / softback
Length: 320 pages
Publication date: 05 February 2023
Publisher: Springer Nature Switzerland AG

Blockchains, cryptocurrencies, open banking, virtual assets, and artificial intelligence have emerged as the defining trends of this decade. This comprehensive book delves into these disruptive financial technologies, offering alternative solutions to the traditional financial services typically provided by regulated financial institutions. Financial technologies are distinguished by their innovative approaches to initiating, supporting, or extending traditional financial services, as well as providing alternative financial pathways and products. While these technologies bring about significant advancements, they also introduce risks such as money laundering, terrorist and proliferation financing, and cybersecurity threats that necessitate mitigation measures.

This edited volume addresses a diverse range of regulatory and enforcement challenges associated with financial technology and financial crime. It responds to the United Nations Sustainable Development Goals, particularly in terms of economic development, employment, national security, law enforcement, and social well-being. By fostering responsible financial innovation, we can promote long-term economic growth, inclusivity, and improved living standards.

This book explores the strategies and approaches for promoting financial innovation while effectively mitigating risks, ensuring financial prosperity and social inclusion. It examines the role of regulations, policies, and technological advancements in shaping the future of financial services and explores the ethical and societal implications of these developments.

In conclusion, the intersection of blockchain, cryptocurrencies, open banking, virtual assets, and artificial intelligence has revolutionized the financial landscape, presenting both opportunities and challenges. This book serves as a valuable resource for policymakers, industry professionals, researchers, and anyone interested in understanding the implications and potential of these disruptive financial technologies. By navigating these challenges and fostering responsible innovation, we can build a more secure, inclusive, and prosperous financial future.

Weight: 504g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030880385
Edition number: 1st ed. 2022