Global Cybercrime: New Toys for the Money Launderers

Abstract

The transnational criminal certainly feels comfort faced with almost limitless option buttons, when surfing the ‘global cyber candy shop’ from the comfort of his cyber cafe armchair. The physical marketplace is rapidly transforming itself into a global electronic arena, where the multicultural consumer and its market‐driven society merge and execute limitless electronic transactions at the touch of a trader's dealing screen, electronic transfers, credit and debit cards, smart cards, and so on. These are just some of the mediums which are now exploited by the money launderer without leaving paper/audit trails for law enforcement agencies and compliance communities. Advances in communications, information systems and cyber electronic innovations increasingly dispel the myth that crime stops at the border.

Citation

Haines, J. and Johnstone, P. (1999), "Global Cybercrime: New Toys for the Money Launderers", Journal of Money Laundering Control, Vol. 2 No. 4, pp. 317-325. https://doi.org/10.1108/eb027198