The Financial War on Crime and Terrorism—Important Research Questions

This chapter explores the critical research questions shaping the future of anti-money laundering (AML), counter-terrorism financing (CTF), and counter-proliferation financing (CPF) efforts. It delves into the optimal strategies for AML/CTF/CPF measures, the challenges in measuring their effectiveness, and the transition from reactive to proactive approaches. The role of Artificial Intelligence (AI) as both a risk vector and an opportunity for detection and prevention is also examined. Additionally, the chapter discusses the impact of shifting geopolitical realities and emerging technological risks on financial crime control measures. It provides a historical context, tracing the evolution of financial crime policy from the 1970s to the post-9/11 era, and highlights the complexities and urgencies of these questions in the ongoing financial war on crime and terrorism. The chapter concludes by emphasizing the need for improved alignment between researchers, policymakers, compliance officers, and law enforcement to build a resilient, effective, and efficient AML/CTF/CPF framework.