AI, a Provenance or Solution for Financial Crime

2021 ◽  
Vol 7 (2) ◽  
pp. 1-5
Author(s):  
Suzan Dsouza ◽  
Houshang Habibniya ◽  
Rezart Demiraj
Keyword(s):  
Artificial Intelligence ◽  
Criminal Law ◽  
Financial Crime ◽  
Public And Private ◽  
The Public ◽  
Financial Crimes ◽  
Current Behavior

This article consists a review of the existing literature on artificial intelligence (AI) with respect to financial crimes. The purpose is to notify the unintentional bad impacts and intentional good impacts of AI applications in relation to financial crimes. This article has reinforced the discussions stating AI applications to be considered as a solution for financial crimes instead of being criticized as the cause for financial crime. The public and private sectors both need be alert with the unintentional harm caused by cybercrime. The current behavior of AI is considered as an accelerator or an antidote to financial crimes, specific to cybercrimes. It is advised to apply criminal law to control cybercrimes. However, holding the AI agents responsible is considered to be an inappropriate mechanism. Thus, AI systems are still not deemed to be capable of forming a proper legitimate system in order to curb the financial crimes.

scholarly journals Bolstering Corporate Sector Partnership in the Fight against Financial Crimes in the Developing World: The Experience of West Africa

2014 ◽  
Vol 5 (1) ◽  
pp. 694-703
Author(s):  
Abdullahi Y Shehu
Keyword(s):  
International Standards ◽  
Strategic Partnership ◽  
Financial Crime ◽  
Corporate Sector ◽  
Public And Private ◽  
The Public ◽  
Terrorist Financing ◽  
Financial Crimes ◽  
The Stability ◽  
Collaborative Efforts

Financial crime threatens the credibility and efficiency of systems and the stability of countries. Countering it requires concerted and collaborative efforts and strategic partnership between the public and private sectors. This paper discusses the roles of the private sector and challenges of compliance with acceptable international standards against money laundering and terrorist financing. The paper suggests that most of challenges, especially with regard to the reporting of suspicious transactions have almost been overcome, yet, there other challenges that remain. It concludes by making recommendations to address those challenges and improving the efficiency of the financial system. 

scholarly journals Combating economic and financial crimes in nigeria: the role of the forensic accountant

2020 ◽  
Vol 10 (4) ◽  
pp. 12-28
Author(s):  
Felix Ogbeiyulu Umanhonlen ◽  
Otakefe J.P ◽  
Killian Osikhenaogiedu
Keyword(s):  
Internal Control ◽  
Expert Witness ◽  
Future Research ◽  
Financial Crime ◽  
Public And Private ◽  
Forensic Accounting ◽  
Financial Crimes ◽  
Routine Basis ◽  
Expert’S Opinion

Economic and financial crime has been a clog in the wheel of progressand a majorproblem be devil economic prosperity and growth modelsof most nations of the world. Due to this government in some quarters have had the reason to set upinstitutions to unravel as well asdispels themenace. Despite this,fewer than much success mayhave been achieved by the respective anti-corruption agencies as a result of not identifying with therole of forensic accounting science in planning, investigating and representing expert witness/testimony on be fore law suit. This paper attempts toappraisethe role of forensic accountant in combating economic and financial crimes in Nigeria. The paper explored relevance components of economic and financial crimes and extensively discussed concepts of crime and criminality, corruption, white collar and cybercrimes. Specifically, the study reviews the historical antidotes of forensic accounting, emphasizes on the role of forensic accounting science in litigation and forensic accountantensuring economic and financial crime immersed. Moreso, the study identifies basis for future research, some potential crimes factors and forensic accounting science expert’s opinion in crime scene as well as reviewed prior studies and gap envisaged. Essentially, the study reviewed theoretical issues using qualitative approach thereby involving a survey of literature to decipher relevant issues. It there fore sought that forensic accounting serves the basis for investigation, expert witness testimonyand opinion of expert in lawsuit so as to unravel crimes, and reach resolution for recovering. However, concludes that there is need to involve and embrace accounting expert science in all facets of crime investigation in order to accelerate detections and ameliorate incidences of failed attempt on crime recovery related to economic and financial crimes. Therefore, propose that public and private sectors should engage, recruit and employservices of and/or stationed forensic accountant to review,strengthen, reappraises records and internal control on routine basis. Also to check incidences of crime perception as well as anti-corruption agencies saddled with the responsibilities of fighting economic and financial crimes to employ and adopt engagement of forensic accountant on regular basis among others for all-inclusiveness works of planning, investigating, detecting,and recovering.

14. General defences

2019 ◽  
pp. 570-618
Author(s):  
John Child ◽  
David Ormerod
Keyword(s):  
Criminal Law ◽  
Legal Reform ◽  
Public And Private ◽  
The Public ◽  
Self Defence

This chapter deals with general complete defences that the accused can use to avoid liability. The focus is on defences that can apply (with one exception) to offences throughout the criminal law and will result in the accused’s acquittal. Five kinds of general complete defences are examined: insanity (as a defence), duress by threats, duress by circumstances, the public and private defence (also known as self-defence), and necessity. The chapter first considers the categorical division between excuses and justifications, before explaining the elements of each of the defences in turn. It then outlines potential options for legal reform concerning individual defences and concludes by discussing the application of the general defences to problem facts. Relevant cases are highlighted throughout the chapter, with brief summaries of the main facts and judgments.

Blockchain Technology and Its Uses in the Tourism Industry

2020 ◽  
pp. 24-42
Author(s):  
Yunus Topsakal
Keyword(s):  
Artificial Intelligence ◽  
Internet Of Things ◽  
Global Economy ◽  
Tourism Industry ◽  
The Internet ◽  
Public And Private ◽  
The Public ◽  
Advantages And Disadvantages ◽  
Blockchain Technology ◽  
The Internet Of Things

The public and private sectors will undergo a significant transformation with the use of blockchain technology, and this potential of blockchain technology will be influential in all areas of life. In addition, blockchain technology can help ease the integration of the Internet of Things, augmented reality, and artificial intelligence applications. The question of how such a technology that is in the process of development will be applied in areas such as taxation, notary operations, and banking, arises simultaneously. Studies related to blockchain technology have mainly been carried out in the fields of finance, logistics, banking, and education. However, there is a paucity of studies on blockchain technology in the tourism industry which has an important role in the global economy. Therefore, the potential of using blockchain technology in the tourism industry is evaluated in this chapter. For this purpose, the features, advantages, and disadvantages of blockchain technology are explained. The potential uses of blockchain technology in the tourism industry are then discussed.

The Fight Against Corruption

2020 ◽  
pp. 167-186
Author(s):  
Ranieri Razzante
Keyword(s):  
Rule Of Law ◽  
Criminal Law ◽  
Social Economic ◽  
Legal Aspect ◽  
International Community ◽  
Public Institutions ◽  
Public And Private ◽  
Abuse Of Power ◽  
The Public

Corruption, generally speaking, can be defined as “abuse of power for private gain” that can be classified as grand, petty, and political, depending on the amounts of money lost and the sector where it occurs. Therefore, it is a phenomenon that compromises rule of law, weakens public institutions and democracy, impacting negatively on productivity and economy. Indeed, because of all these implications, it can be analyzed stressing social, economic, politic, or legal perspectives. These features have allowed experts from different fields to investigate the phenomenon, which does not exclusively concern conduct punishable by criminal law, but also conduct that can be considered just an “expression of maladministration” in both the public and private sectors. This chapter seeks to address the legal aspect of corruption. In particular, it overviews the main anti-corruption measures international community has adopted in recent years. By showing the evolution and steps that led to the actual treaty situation, the Authors offer a hint on the goals achieved and those to be achieved.

Artificial intelligence: accelerator or panacea for financial crime?

2019 ◽  
Vol 26 (2) ◽  
pp. 634-646 ◽  
Author(s):  
Peter Yeoh
Keyword(s):  
Artificial Intelligence ◽  
Secondary Data ◽  
Financial Crime ◽  
Public And Private ◽  
Content Type ◽  
Competitive Edge ◽  
Business Cases ◽  
The Usa ◽  
The Uk ◽  
Administrative Sanctions

PurposeThis purpose of this viewpoint is to address the intended good and unintended bad impacts of artificial intelligence (AI) applications in financial crime.Design/methodology/approachThe paper relied primarily on secondary data resources, business cases and relevant laws and regulations, and it used a legal-economics perspective.FindingsCurrent AI systems could function as antidotes or accelerator of financial crime, in particular cybercrime. Research suggests criminal law could be applied via three approaches to curb these cybercrimes. However, others considered this to be an inappropriate mechanism to hold AI agents accountable, as present AI systems were not deemed capable of making ethically informed choices. Instead, administrative sanctions would be considered more appropriate for now. While keeping vigilance against AI malicious acts, regulatory authorities in the USA and the UK have opted largely for the innovation-friendly, market-oriented, permissionless approach over the state-interventionist stance so as to maintain their global competitive edge in this domain.Originality/valueThe paper reinforced the growing arguments that AI applications should be deployed more as panacea for financial crimes rather than being abused as crime accelerators. There equally though is the need for both public and private sectors to be mindful of the unintended negative, harmful consequences to society, especially those connected to cybercrime. This implied the further need to beef up attention and resources to help mitigate these risks.

Creepy Technologies and the Privacy Issues of Invasive Technologies

2020 ◽  
pp. 243-268
Author(s):  
Rochell R. McWhorter ◽  
Elisabeth E. Bennett
Keyword(s):  
Artificial Intelligence ◽  
Exploratory Study ◽  
New Technology ◽  
Public And Private ◽  
Corporate Networks ◽  
Consumer Privacy ◽  
The Public ◽  
Mistaken Identity ◽  
Current Trends ◽  
Privacy Issues

Technology has become increasingly invasive and corporate networks are expanding into public and private spaces to collect unprecedented data and provide new services such as artificial intelligence and through unsettling human-like personas. The term “creepy technology” is appearing in the literature along with concerns for privacy, ethical boundaries, cybersecurity, and mistaken identity but is also in news articles to inform the public about technology advances that affect consumer privacy. Invasive technology provides the impetus for external adaptation for many organizations and current trends require rapid adaption to potential threats to security. Also, usability addresses how users respond and adapt to new technology. This chapter includes the presentation of an exploratory study of how the public responded to various technology announcements (N=689 responses) and results indicated a significant response to invasive technologies and some sense of freedom to opine. This chapter also provides discussion of interventions that are critical to both public and private sectors.

scholarly journals China’s Use of AI in its COVID-19 Response

2020 ◽  
Author(s):  
Emily Weinstein
Keyword(s):  
Artificial Intelligence ◽  
Public And Private ◽  
The Public ◽  
Chinese Companies ◽  
Global Pandemic ◽  
Key Players ◽  
Control And Prevention

The current global pandemic has given China a chance to amplify its efforts to apply artificial intelligence across the public and private spheres. Chinese companies are developing and retooling AI systems for control and prevention. This data brief assesses the types of AI technologies used to fight COVID-19 and the key players involved in this industry.

scholarly journals A “LEI ANTICORRUPÇÃO” E O DIREITO PENAL. CORRUPÇÃO NO SETOR PÚBLICO E PRIVADOTHE “ANTICORRUPTION ACT” AND CRIMINAL LAW. CORRUPTION IN THE PUBLIC AND PRIVATE SECTOR

2020 ◽  
Vol 11 (25) ◽  
Author(s):  
Alexis Couto de Brito
Keyword(s):  
Private Sector ◽  
Criminal Law ◽  
Public And Private ◽  
The Public ◽  
Public And Private Sector

O texto analisa de forma geral a preocupação moderna com a corrupção sistêmica e as medidas nacionais e internacionais adotadas para sua repressão. Há exposição direta sobre a existência ou não de tipos penais e a justaposição com a responsabilidade administrativa a lei 12.846/13. Por fim, uma breve análise sobre o cenário nacional sobre a corrupção privada.

Human Rights and Technology: New Challenges for Justice and Accountability

2020 ◽  
Vol 16 (1) ◽  
pp. 223-240
Author(s):  
Molly K. Land ◽  
Jay D. Aronson
Keyword(s):  
Artificial Intelligence ◽  
Human Rights ◽  
Technological Innovation ◽  
Public Service ◽  
New Technologies ◽  
Public And Private ◽  
The Public ◽  
The Face ◽  
New Challenges ◽  
Fact Finding

This review surveys contemporary challenges in the field of technology and human rights. The increased use of artificial intelligence (AI) in decision making in the public and private sectors—e.g., in criminal justice, employment, public service, and financial contexts—poses significant threats to human rights. AI obscures and attenuates responsibility for harms in ways that undermine traditional mechanisms for holding wrongdoers accountable. Further, technologies that scholars and practitioners once thought would democratize human rights fact finding have been weaponized by state and non-state actors. They are now used to surveil and track citizens and spread disinformation that undermines public trust in knowledge. Addressing these challenges requires efforts to ensure that the development and implementation of new technologies respects and promotes human rights. Traditional distinctions between public and private must be updated to remain relevant in the face of deeply enmeshed state and corporate action in connection with technological innovation.

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