Recent trends in money laundering and terrorism financing

Purpose This paper aims to investigate how criminals launder money and finance terrorism through the financial system. Design/methodology/approach In total, 70 interviews were conducted with criminals and white-collar crime prevention experts, whose responses were subjected to qualitative content analysis. Based on the findings, a quantitative survey of 200 compliance officers was carried out. Findings The interviews and survey revealed concrete techniques of laundering money and financing terrorism through the financial services industry and its affiliates. Evidently, the compliance mechanisms aimed at preventing money laundering and terrorism financing can be easily circumvented.