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Established in March 2018, the programme recognises that better information sharing has enhanced the effectiveness of AML measures in recent years. Beyond these initiatives, however, wider changes are required in order to allow stakeholders to make the most effective use of this information and respond to new challenges.
The programme aims to answer two key questions:
How can core elements of the AML regime be improved to create an enabling environment for the use of technology?
Priority areas of research include:
- Effective approaches to harnessing the opportunities that data analytics offer to AML supervisors, financial intelligence units and law enforcement agencies.
- Regulatory changes needed in order to foster effective use of technologies for AML purposes by the private sector.
How should the AML framework be adapted in order to address today’s financial crime landscape?
Priority areas of research include:
- The threat stemming from the proceeds of emerging crimes such as hacking, malware and DDOS attacks;
- The vulnerabilities of online sectors such that call for innovative AML responses, such as virtual currency businesses, online gambling, online gaming and e-commerce.
Research for the Financial Crime 2.0 programme is carried out by RUSI's Centre for Financial Crime and Security Studies.
The programme is now in its second year and is funded by EY and Refinitiv. Its first year was also sponsored by Lloyds Banking Group.
Contacts
Play Your Cards Right: Preventing Criminal Abuse of Online Gambling
Occasional Papers, 12 November 2019
Anton Moiseienko
This paper examines the criminal involvement in some online gambling activities.
Tags: Centre for Financial Crime and Security Studies, AML/CTF, Financial Crime 2.0, Organised Crime, Technology
Deep Impact? Refocusing the Anti-Money Laundering Model on Evidence and Outcomes
Occasional Papers, 11 October 2019
Matthew Redhead
This Occasional Paper examines the effectiveness of the current anti-money laundering model, with particular reference to the financial services sector, and makes relevant recommendations to enhance the model's future effectiveness.
Tags: Centre for Financial Crime and Security Studies, AML/CTF, International Institutions, Law and Ethics, Financial Crime 2.0, Organised Crime, Terrorism
Addressing the Abuse of Trade for Money Laundering Purposes
Commentary, 9 October 2019
Jonathan Draper
The problem of detecting and tackling money laundering has taxed financial institutions and law enforcement for decades. Trade-based money laundering adds a new dimension of complexity.
Tags: AML/CTF, Law and Ethics, Financial Crime 2.0, Organised Crime
From Intention to Action: Next Steps in Preventing Criminal Abuse of Cryptocurrency
Occasional Papers, 10 September 2019
Anton Moiseienko and Kayla Izenman
This paper aims to support domestic authorities that will regulate virtual asset service providers and supervise their compliance with AML/CTF regulations in identifying next steps they should take to effectively prevent criminal abuse of cryptocurrency
Tags: Centre for Financial Crime and Security Studies, AML/CTF, Financial Crime 2.0, Organised Crime
The UK’s Economic Crime Plan: A First Step on the Road to Progress
Commentary, 24 July 2019
Helena Wood and Isabella Chase
The government’s first-ever comprehensive Economic Crime Plan is a step in the right direction, but requires adequate funding.
Tags: Centre for Financial Crime and Security Studies, AML/CTF, UK, Law and Ethics, Financial Crime 2.0, Organised Crime
What's in a Name? Corruption and Fraud in the UK
Occasional Papers, 17 June 2019
Anton Moiseienko and Kayla Izenman
This Occasional Paper discusses the forms that corruption and fraud take in four UK sectors: the financial sector; construction; the National Health Service; and local government. At present, there are knowledge gaps on this subject that stakeholders would do well to address.
Tags: Centre for Financial Crime and Security Studies, UK, Information, Securing Britain, Financial Crime 2.0, National SecurityPages
Addressing the Abuse of Trade for Money Laundering Purposes
Commentary, 9 October 2019Jonathan Draper
The problem of detecting and tackling money laundering has taxed financial institutions and law enforcement for decades. Trade-based money laundering adds a new dimension of complexity.
AML/CTF, Law and Ethics, Financial Crime 2.0, Organised Crime
The UK’s Economic Crime Plan: A First Step on the Road to Progress
Commentary, 24 July 2019Helena Wood and Isabella Chase
The government’s first-ever comprehensive Economic Crime Plan is a step in the right direction, but requires adequate funding.
Centre for Financial Crime and Security Studies, AML/CTF, UK, Law and Ethics, Financial Crime 2.0, Organised Crime
The Heat is on Cyber-Criminals. But Are Governments Doing Enough to Tackle Rogue Cryptocurrency Exchanges?
Commentary, 31 May 2019Anton Moiseienko
Cyber-criminal groups are being dismantled. But more needs to be done about the enforcement of rules that bind cryptocurrency exchanges.
Centre for Financial Crime and Security Studies, Counter-Proliferation Finance, Cyber, AML/CTF, European Union, Financial Crime 2.0, Organised Crime, Technology
The Illusion of Simplicity: Which Virtual Currencies Businesses are Subject to Money Laundering Rules?
Commentary, 21 March 2019Anton Moiseienko and Kayla Izenman
Regulating virtual currency businesses in order to prevent money laundering is not easy. But it can be done.
Centre for Financial Crime and Security Studies, Cyber, AML/CTF, Global Security Issues, Information, Intelligence, International Institutions, Financial Crime 2.0
Crypto at the Crossroads: Exploring the Impact of the US Treasury’s Bitcoin Sanctions
Commentary, 2 January 2019Kayla Izenman
The US government’s move against two alleged cyber-criminals serves as a warning sign to the cryptocurrency community. The community may choose to respond by cloaking itself in an even heavier mantle of anonymity, or it may just understand that it stands to gain from policing its activities.
Centre for Financial Crime and Security Studies, Cyber, United States, US Defence Policy, AML/CTF, Future UK Cyber Security Strategy Project, Sanctions, Illicit Trade, Law and Ethics, Financial Crime 2.0, Organised Crime, Technology
Play Your Cards Right: Preventing Criminal Abuse of Online Gambling
Occasional Papers, 12 November 2019Anton Moiseienko
This paper examines the criminal involvement in some online gambling activities.
Centre for Financial Crime and Security Studies, AML/CTF, Occasional Papers, Financial Crime 2.0, Organised Crime, Technology
Deep Impact? Refocusing the Anti-Money Laundering Model on Evidence and Outcomes
Occasional Papers, 11 October 2019Matthew Redhead
This Occasional Paper examines the effectiveness of the current anti-money laundering model, with particular reference to the financial services sector, and makes relevant recommendations to enhance...
Centre for Financial Crime and Security Studies, AML/CTF, Occasional Papers, International Institutions, Law and Ethics, Financial Crime 2.0, Organised Crime, Terrorism
From Intention to Action: Next Steps in Preventing Criminal Abuse of Cryptocurrency
Occasional Papers, 10 September 2019Anton Moiseienko and Kayla Izenman
This paper aims to support domestic authorities that will regulate virtual asset service providers and supervise their compliance with AML/CTF regulations in identifying next steps they should take...
Centre for Financial Crime and Security Studies, AML/CTF, Occasional Papers, Financial Crime 2.0, Organised Crime
What's in a Name? Corruption and Fraud in the UK
Occasional Papers, 17 June 2019Anton Moiseienko and Kayla Izenman
This Occasional Paper discusses the forms that corruption and fraud take in four UK sectors: the financial sector; construction; the National Health Service; and local government. At present, there...
Centre for Financial Crime and Security Studies, Occasional Papers, UK, Information, Securing Britain, Financial Crime 2.0, National Security
Expanding the Capability of Financial Information-Sharing Partnerships
Occasional Papers, 20 March 2019Nick Maxwell
Public–private financial information-sharing partnerships have become increasingly useful in understanding and mitigating economic crime. This Occasional Paper examines how these partnerships' role...
Centre for Financial Crime and Security Studies, Cyber, AML/CTF, Occasional Papers, Global Security Issues, Information, Intelligence, International Institutions, Law and Ethics, Financial Crime 2.0, National Security, Organised Crime, TechnologyPages
Finances of Cybercrime: State of Play
Events, 25 June 2019This RUSI panel discussion brings together academics and practitioners to provide up-to-date perspectives on how cybercriminals transfer and use the proceeds of cybercrime.
Financial Crime 2.0
RUSI Financial Crime 2.0 Workshop: Money Laundering via Online Businesses
Events, 10 May 2019Online businesses present opportunities for moving value that did not exist, or were not as readily available, when the current anti-money laundering (AML) regime was developed.
Financial Crime 2.0
RUSI Paper Launch – Targeting the Finances of Cybercrime
Events, 4 December 2018Ranging from bank account takeovers to the theft of cryptocurrency, cybercrime has evolved into a major type of profit-generating crime. Since cybercrime is often financially motivated, disrupting...
Centre for Financial Crime and Security Studies, Financial Crime 2.0
Contribution of Advanced Analytics to AML Supervision and Enforcement
Events, 20 June 2018Organised in cooperation with Italy’s Unità di informazione finanziaria, this international workshop will focus on the use of advanced analytics in the context of AML supervision and enforcement.
Financial Crime 2.0
Strengthening the AML Response to Cyber Crime
Events, 30 May 2018HM Government has recognised the threat posed by hacking, malware infections and DDOS attacks to the security and prosperity of the UK. In recognition of the economic underpinnings of cyber crime,...
Financial Crime 2.0
Huawei, Not All the Way
Death of Qassem Soleimani: What to Expect in Afghanistan and Pakistan
Britain’s Nuclear Projects: Less Bang and More Whimper