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Anti‐money laundering and financial fraud detection: A systematic literature review

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  • Lucas Schmidt Goecks
  • André Luis Korzenowski
  • Platão Gonçalves Terra Neto
  • Davenilcio Luiz de Souza
  • Taciana Mareth

Abstract

Money laundering has affected the global economy for many years, and there are several methods of solving it presented in the literature. However, when tackling money laundering and financial fraud together there are few methods for solving them. Thus, this study aims to identify methods for anti‐money laundering (AML) and financial fraud detection (FFD). A systematic literature review was performed for analysis and research of the methods used, utilizing the SCOPUS and Web of Science databases. Of the 48 articles that aligned with the research theme, 20 used quantitative methods for AML and FFD solution, 13 were literature reviews, 7 used qualitative methods, and 8 used mixed methods. This study contributes by presenting a systematic literature review that fills two research gaps: lack of studies on AML and FFD, and the methods used to solve them. This will assist researchers in identifying gaps and related research.

Suggested Citation

  • Lucas Schmidt Goecks & André Luis Korzenowski & Platão Gonçalves Terra Neto & Davenilcio Luiz de Souza & Taciana Mareth, 2022. "Anti‐money laundering and financial fraud detection: A systematic literature review," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 29(2), pages 71-85, April.
    • Handle: RePEc:wly:isacfm:v:29:y:2022:i:2:p:71-85
    DOI: 10.1002/isaf.1509
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    References listed on IDEAS

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    1. Norman Mugarura, 2011. "The institutional framework against money laundering and its underlying predicate crimes," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 19(2), pages 174-194, May.
    2. Shenggang Yang & Lai Wei, 2010. "Detecting money laundering using filtering techniques: a multiple‐criteria index," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 13(2), pages 159-178.
    3. Shenggang Yang & Lai Wei, 2010. "Detecting money laundering using filtering techniques: a multiple-criteria index," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 13(2), pages 159-178.
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