Degree Type

Thesis

Date of Award

2009

Degree Name

Master of Science

Department

Theses & dissertations (College of Business)

First Advisor

Sree Nilakanta

Abstract

Money laundering, an act of illegal cash washing, accounts for two to five percent of the world's gross domestic product. This alarming amount of illegal financial activity has brought national and international laws, regulations on banks, and procedures to deter money launderers. With the rise of cyber banking, digital cash, anonymous stored value cards, and advanced personal identifiable information theft, money laundering laws and regulations fail to account for the movement of illegal money in the digital world.

Discussed in this thesis is an overview of the current money laundering techniques and regulations. The objectives of this research are twofold; first, to broadly identify deficiencies within the banking and regulatory institutions regarding cyberlaundering including hypothetical cyberlaundering methods and second, to suggest a specific feasible approach to minimize and deter online laundering of illicit revenue through the application of COMET: a Central Online AML Merchant Enforcement Tool. COMET is a central database system which makes use of data mining techniques to mitigate a cyberlaundering return merchandise scheme.

DOI

https://doi.org/10.31274/etd-180810-2515

Copyright Owner

Brian David Schwartz

Language

en

Date Available

2012-04-29

File Format

application/pdf

File Size

116 pages

Included in

Business Commons

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