19The Future of Financial Crime Prevention and Cybersecurity with Distributed Systems and Computing Approaches

Veer B.P. Singh1, Pratibha Singh2, Shouvik K. Guha3, Asif I. Shah4, Abdullah Samdani5, M.Z.M. Nomani6, and Mohit Tiwari7

1School of CSIT, Department of Cyber Security, Symbiosis Skills, and Professional University, Kiwale, Pune, India

2Department of CSE, Guru Ghasidas Vishwavidyalaya, Bilaspur, Chhattisgarh, India

3The West Bengal National University of Juridical Sciences, Kolkata, West Bengal, India

4Xavier Law School, St. Xavier’s University, Kolkata, India

5School of Law, University of Petroleum & Energy Studies, Dehradun, India

6Faculty of Law, Aligarh Muslim University, Aligarh, India

7Department of Computer Science and Engineering, Bharati Vidyapeeth’s College of Engineering, Delhi, India

19.1 Introduction

The financial sector has undergone a revolution thanks to the growing use of technology and digitalization, which has improved the accessibility of financial services for consumers. New risks and threats have, however, also emerged as a result of this evolution, particularly in the fields of cybersecurity and financial crime prevention. We have seen a rise in cyberattack sophistication and frequency in recent years, which has caused financial institutions to suffer significant financial losses and reputational harm. Financial institutions must make an immediate investment in effective cybersecurity and financial crime prevention strategies. Artificial intelligence ...

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