Despite massive investments in mitigation capabilities, financial crime
remains a trillion-dollar global issue with impacts that extend well
beyond the financial services industry. Worldwide, there are between
$800 billion and $2 trillion laundered annually with the United States
making up at least $300 billion of that figure. Although it is not
possible to measure money laundering in the same way as legitimate
economic activity, the scale of the problem is considered enormous. The
cybersecurity landscape is always shifting, with threats becoming more
sophisticated all the time. Managing risks in the banking and financial
sectors requires a thorough understanding of the evolving risks as well
as the tools and practical techniques available to address them.
Cybercrime is a global problem, which requires a coordinated
international response. This book outlines the regulatory requirements
that come out of cyber laws and showcases the comparison in dealing with
AML/CFT and cybersecurity among the G-20, which will be of interest to
scholars, students and policymakers within these fields.