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There is a growing interest from both the academia and industry to employ distributed ledger technology in the Internet-of-Things domain for addressing security-related and performance challenges. Distributed ledger technology enables…
In shaping the Internet of Money, the application of blockchain and distributed ledger technologies (DLTs) to the financial sector triggered regulatory concerns. Notably, while the user anonymity enabled in this field may safeguard privacy…
Money laundering is a financial crime that obscures the origin of illicit funds, necessitating the development and enforcement of anti-money laundering (AML) policies by governments and organizations. The proliferation of mobile payment…
Financial crime is a large and growing problem, in some way touching almost every financial institution. Financial institutions are the front line in the war against financial crime and accordingly, must devote substantial human and…
Today, money laundering (ML) poses a serious threat not only to financial institutions but also to the nations. This criminal activity is becoming more and more sophisticated and seems to have moved from the clichy of drug trafficking to…
The emergence of distributed systems has revolutionized the financial technology (Fintech) landscape, offering unprecedented opportunities for enhancing security, scalability, and efficiency in financial operations. This paper explores the…
Financial crimes like money laundering and terrorism financing can have significant impacts on society, including loss of trust in the integrity of the financial system, misuse and mismanagement of public funds, increase in societal…
Distributed Ledger Technologies (DLTs) promise decentralization, transparency, and security, yet the reality often falls short due to fundamental governance flaws. Poorly designed governance frameworks leave these systems vulnerable to…
The functionality that distributed ledger technology provides, i.e., an immutable and fraud-resistant registry with validation and verification mechanisms, has traditionally been implemented with a trusted third party. Due to the…
Money laundering enables organized crime by moving illicit funds into the legitimate economy. Although trillions of dollars are laundered each year, detection rates remain low because launderers evade oversight, confirmed cases are rare,…
It is time for the legacy financial infrastructure to seamlessly connect with modern, decentralized infrastructure. Although it is increasingly evident that decentralized infrastructure for finance (namely distributed ledgers) will coexist…
The applications of the blockchain technology are still being discov-ered. When a new potential disruptive technology emerges, there is a tendency to try to solve every problem with that technology. However, it is still necessary to…
Money launderers take advantage of limitations in existing detection approaches by hiding their financial footprints in a deceitful manner. They manage this by replicating transaction patterns that the monitoring systems cannot easily…
Distributed ledger technologies have gained significant attention and adoption in recent years. Despite various security features distributed ledger technology provides, they are vulnerable to different and new malicious attacks, such as…
Distributed ledger systems have become more prominent and successful in recent years, with a focus on blockchains and cryptocurrency. This has led to various misunderstandings about both the technology itself and its capabilities, as in…
Fintech business models based on distributed ledgers -- and their smart-contract variants in particular -- offer the prospect of democratizing access to faster, anywhere-accessible, lower cost, reliable-and-secure high-quality financial…
Threat information sharing is considered as one of the proactive defensive approaches for enhancing the overall security of trusted partners. Trusted partner organizations can provide access to past and current cybersecurity threats for…
Money laundering is the crucial mechanism utilized by criminals to inject proceeds of crime to the financial system. The primary responsibility of the detection of suspicious activity related to money laundering is with the financial…
Recently, financial institutes have been dealing with an increase in financial crimes. In this context, financial services firms started to improve their vigilance and use new technologies and approaches to identify and predict financial…
The rise of digital payments has caused consequential changes in the financial crime landscape. As a result, traditional fraud detection approaches such as rule-based systems have largely become ineffective. AI and machine learning…