From Paper Money to Digital Assets: Financial Technology and the Risks of Criminal Abuse

This chapter delves into the transformation of financial technology from traditional paper money to modern digital assets, highlighting the opportunities and risks associated with this evolution. It discusses the role of financial technology in providing efficient and affordable financial services, while also exploring the challenges posed by criminal abuse. The chapter emphasizes the need for regulators, supervisors, and law enforcement to adapt and respond appropriately to these advancements. It also examines specific sectors such as online gambling, real estate, and telecommunications, providing insights into the regulatory approaches and challenges in these areas. Additionally, the chapter addresses the policy approaches and investigation methods related to financial crime, offering a holistic view of the financial technology landscape and the efforts to mitigate its risks.