Electronic Payment Systems and Money Laundering (Risks and Countermeasures in the Post-Internet Hype Era)

Over the last ten years, the continuing dematerialization of money and the advent of the internet, electronic commerce, and mobile communications have led to the introduction of a myriad of new electronic payment systems. These systems have the potential to make payments more efficient and to enable anyone to carry out transactions with anybody. However, they reputedly also have the potential to greatly facilitate the crime of money laundering. In this respect, electronic payment systems have been called the greatest boon to money launderers and have even been presented as one of the four Horsemen of the Apocalypse. Now that the hype surrounding the internet has subsided, the time is right to make an assessment of the true money laundering threat posed by electronic payment systems. To this end, Electronic Payment Systems and Money Laundering offers an in-depth look at the issues involved, containing a wealth of information about payment processing, money laundering techniques and countermeasures, and a wide range of electronic payment systems.