Combating Novel Methods of Money Laundering and Fraud Through the Misuse of Financial Technologies

The rapid expansion of novel financial technologies (FinTech), while offering significant advantages, has created new and complex platforms for committing money laundering and fraud crimes due to characteristics such as "relative anonymity," "high speed," and "cross-border nature," thereby challenging traditional counter-mechanisms. The main objective of this research is to identify and analyze the challenges arising from the misuse of new technologies in financial crimes and to propose effective legislative and regulatory solutions to counter these new threats. This research employs a descriptive-analytical methodology, relying on library resources. Data were gathered and analyzed through the review and content analysis of relevant documents. The findings of this research indicate that new financial technologies have significantly increased the complexity and scope of money laundering and fraud crimes, and that an effective response requires a multi-faceted approach, including targeted legislative reforms (such as legal recognition of digital assets and criminalization of misuse), the development of dynamic regulatory frameworks (such as mandatory Know Your Customer [KYC] requirements on digital platforms), and strengthening international cooperation. Furthermore, leveraging the technologies themselves (such as Artificial Intelligence and blockchain analysis) for detection and prevention is also essential. Consequently, effectively combating financial crimes arising from the misuse of financial technologies necessitates adopting a comprehensive, dynamic, and coordinated strategy. This includes "updating laws," "implementing smart supervision,strengthening international cooperation," and the "strategic use of new technological tools" for the prevention, identification, and confrontation of these crimes, in order to preserve the health and integrity of the financial system.