Mapping the Evolution of Money Laundering Detection Strategies: A Bibliometric Perspective
Abstract
The war against money laundering has been widely advanced over the decades as a result of the change in the detection strategies and therefore is an important field of study in the effort to improve detection strategies and minimize money laundering offenses. Therefore, this paper mapped out the history of these detection strategies with a bibliometric approach, by investigating a Scopus publication database. The database was used to select a total of 1070 articles with the following keywords Money Laundering OR Anti- Money Laundering AND Detection Strategies. Bibliometric and citation analyses were done on these documents following the selection. The frequency analysis and the citation metrics were evaluated with the help of the Microsoft Excel and Harzing Publish or Perish, respectively, and the visualization of the data were implemented with the help of VOS Viewer. In the bibliometric study, one can see that the number of studies describing the methods of money laundering detection increased significantly in 2021 due to such advancements as machine learning. The second issue highlighted in this study is the significance of international cooperation, where the U.S, U.K., China, India, and Australia play the most important roles. Recommendations on the policy are: promoting technological innovation, international cooperation, strengthening regulatory framework, and assisting the interdisciplinary research. The study is limited to the Scopus database and the keywords having been applied in the search.
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References
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