Strengthening AML Frameworks for Mobile Individuals.docx
Year: 2025
Type: article
Abstract: Traditional Anti-Money Laundering (AML) frameworks have historically prioritized financial crime detection within stationary entities such as businesses and individuals with stable residences. However, a growing demographic of highly mobile individuals—including those living in recreational vehicles (RVs), boats, and private aircraft—presents significant challenges for regulators relying on location-based tracking mechanisms. This paper explores the vulnerabilities within AML enforcement regarding mobile financial activities and outlines strategies to enhance compliance frameworks. By leveraging advanced identity verification technologies, AI-driven behavioral analytics, and cross-jurisdictional regulatory cooperation, financial institutions and enforcement agencies can modernize AML practices to effectively address emerging threats posed by mobile money movers
Source: Figshare
Author: Schofield, Leonard
Language: English
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6902262988
FWCI:
Cites:
Cited by:
Related to: