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Marcus Rickard investigates Cyber fraud and money laundering involving Decentralised Finance

22. Feb 2021

Cyber fraud and money laundering involving Decentralised Finance (DeFi) is on the rise. Marcus Rickard looks at the risks DeFi creates for AML compliance, the consequences of those risks for AML compliance officers, how the risks can be mitigated, and the potential benefits DeFi brings. He says:

"The rate of technological improvements in traditional financial systems has been outstripped by the increasing sophistication of cybercrime. Security risks are therefore persistent in traditional financial systems. DeFi presents an opportunity to design AML measures that work alongside the advances in financial services, whilst moving away from the centralised infrastructure that is of course always been vulnerable to human error and cyber hacks."

Read full piece here: GRC World Forums

Additional research by RLC pupil barrister Joshua Ellis.

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