A Study on the Implementing Fintech Solution and Money Laundering Vulnerabilities
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A Study on the Implementing Fintech Solution and Money Laundering Vulnerabilities
Authors:
Patil Lavanya Kavishkumar Shubhangi1
1Narsee Monjee College of Commerce & Economics, India
ABSTRACT
FinTech is shaking up finance, but it's also opening doors for money launderers, unfortunately. This research digs into how these new technologies, especially in India, create weak spots for financial crime. Using existing research, the study wants to pinpoint exactly where these risks lie in different FinTech areas, figure out why it's so tough for regulators to keep up, and suggest better ways to fight money laundering in this new world. The goal is to help FinTech companies beef up their security, guide regulators in making smart rules, and inform governments on how to tackle digital money laundering, all while keeping the good stuff about FinTech innovation going strong. Ultimately, this research aims to bridge the gap between exciting new finance tech and the very real threat of financial crime.
Keywords: FinTech, Money Laundering, AML (Anti- Money Laundering), Vulnerabilities Risk Mitigation, Financial Crime, Financial Innovation, Emerging Technologies