Follow the Money: The Global Finance Industry

This chapter investigates the intricate web of illicit activities that span international borders, exploiting the complexities of the global financial system. Beginning with an exploration of the historical evolution of financial crime, the chapter delineates the changing nature of illicit financial activities and the adaptation of criminal enterprises to advancements in technology and globalisation. It investigates the emergence of sophisticated networks that transcend geographical boundaries, posing unprecedented challenges to regulatory bodies and law enforcement agencies. It also scrutinises the response of the global community in combating financial crime. It evaluates the effectiveness of international collaborations, regulatory frameworks and technological solutions in preventing, detecting and prosecuting those engaged in illicit financial activities. The examination also encompasses the role of financial institutions, regulatory bodies and law enforcement agencies in fostering a united front against global financial crime.