Financial Crime 2.0

The Financial Crime 2.0 research project explores the impact of new technologies on financial crime and proposes improvements to current financial crime responses.




Main Image Credit Financial Crime 2.0


The project covers both opportunities offered by the effective use of new technology, including artificial intelligence and advanced data analytics, and threats emanating from the exploitation of technological advances.

The current (third) year of Financial Crime 2.0 started in April 2021, and examines the role of artificial intelligence and machine learning (AI/ML) in financial crime.

Project sponsors

The Financial Crime 2.0 research was sponsored by EY, Refinitiv and Lloyds Banking Group in its first year, and EY and Refinitiv in its second year.

Main Image Credit Financial Crime 2.0

Project focus

Over the last two years, CFCS’s Financial Crime 2.0 project has examined how the AML/CFT regime needs to be updated to reflect today’s technological landscape and strengthen its effectiveness. The project focused on:

  • Financial crime risks and mitigation strategies in the online economy, including virtual currencies, online gambling, gaming and e-commerce;
  • Money-laundering threats stemming from the proceeds of cyber-depending crime;
  • The use of data analytics to assist AML supervisors, financial intelligence units and law enforcement agencies; and
  • The contribution of technology to ensuring effective financial crime prevention beyond ‘tick-box’ compliance.

Project outputs


Access the key publications produced as part of this project.

Sharpening the Money-Laundering Risk Picture: How Data Analytics Can Support Financial Intelligence, Supervision and Enforcement

From Money Mules to Chain-Hopping: Targeting the Finances of Cybercrime

RUSI Newsbrief

When Bankers Need to be More Creative than Hackers: Cybercrime and Money Laundering

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Following the Whack-a-Mole: Britain First’s Visual Strategy from Facebook to Gab

Deep Impact? Refocusing the Anti-Money Laundering Model on Evidence and Outcomes

Understanding Financial Crime Risks in E-Commerce

Play Your Cards Right: Preventing Criminal Abuse of Online Gambling

RUSI Newsbrief

Gaming the System: Money Laundering Through Online Games

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From Intention to Action: Next Steps in Preventing Criminal Abuse of Cryptocurrency

The Heat is on Cyber-Criminals. But Are Governments Doing Enough to Tackle Rogue Cryptocurrency Exchanges?

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The Illusion of Simplicity: Which Virtual Currencies Businesses are Subject to Money Laundering Rules?

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Video Commentary


Watch the video analysis from this project.

Financial Crime Online: Beyond Our Reach?

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Financial Crime 2.0: Privacy Coins

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Financial Crime 2.0: The Decentralisation of Cryptocurrency and Financial Crime

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Financial Crime 2.0: E Gaming

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Project impact

Our research has highlighted the benefits of the sharing of typologies between public and private sector stakeholders; the need for a more active exchange of best practices in analysing customers’ digital footprint for AML/CFT purposes; and the approaches that regulators and law enforcement agencies can take to addressing risks posed by overseas businesses that operate online.

During its first two years, the Financial Crime 2.0 project resulted in coverage by media outlets including The Economist and the Financial Times, as well as presentations at conferences including the Cambridge International Economic Crime Symposium, ACAMS Europe, SWIFT Banking Forum London and multiple others.


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