Assessment of Technologies for Forensic Auditing to Combat Money Laundering in the U.S. Banking Industry

摘要

This paper analyses the recommendations of six money laundering investigation and detection experts. The insertion of newly identified technologies, and auditing practices to detect and deter money laundering in the banking industry were explored to support these recommendations. The experts rank-ordered responses to a listing of contemporary research findings on technology from a government-appointed panel on money laundering investigation and prosecution. They also provided open-ended responses to questions about applying information technology to assist auditors in the banking industry with money-laundering detection. This study found high congruence among the experts for the development and application of at least two of the proposed technologies. Further, they endorsed the role and application of other technologies not reviewed by the government panel. A case was made for the importance of the bank auditor's role, and to interact in a complementary fashion with the expert systems. This study suggests, and concurs with findings of several other recent studies that information technology coupled with the enhanced capabilities of auditors provides a critical asset to money laundering detection. The Project DrugMARKET Interim Final Report was used as a springboard for this report.