ISSN: 2265-6294

Role of Digital Technology in the Audit Process to Reduce Money Laundering in the Banking Sector

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Raad Oleiwi

Abstract

In the current accelerated spread and the evolution of digital technologies, it is visible that there are crucial impacts on financial and economic crimes. On top of that, there have also been ways to combat and prevent money laundering crimes brought about by the advancement of technologies. In this research, I will expand on the correlation between money laundering and technological advances that are digital technology, including the strong dependency on the aid of 162 states between the year 2012 to 2020. Using the econometric models and methods, vital control variables, independent variables, and technology and internet adoption, this research offers empirical proof of the crucial effect of technology on money laundering.

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