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Article
Emerging Technologies and Financial Crime - The Tax Perspective
As technology advances and financial services become more accessible, they also create new opportunities for financial crime. The challenge lies in effectively managing these risks through a collaborative approach that includes leveraging technology, public-private partnerships, and international cooperation.
Aug 23, 2024
Kevin Newe, Head of Illicit Finances Threats, HMRC
Tags:
AI and Technology (including Fintech)
Financial Crime
The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization
- The accessibility and convenience brought by modern technology in financial services also introduce new risks, such as fraud and cybercrime, which require innovative countermeasures.
- Collaborating with third-party providers and utilizing advanced data integration and analysis are essential strategies for mitigating emerging financial threats.
- Public-private partnerships, exemplified by initiatives like the Joint Money Laundering Intelligence Task Force, are crucial for effectively combating financial crime and recovering revenue.
- International cooperation is vital for addressing global financial crimes, such as tax evasion and human trafficking, necessitating extensive data sharing and joint efforts across key jurisdictions.
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