Financial Crime in Correspondence with Cybercrime

Abstract

Today, in the era of emerging technologies and the continuous advancement of technology, it has become a child’s play to use an electronic device for illicit activities or use them for illegal purposes. We live in the 21st century, also known as the internet era, where everything is accessible with one simple click, be it bank details or company information. Every company, organization, and government office use electronic devices, be it for communication, data handling, processing information, or making documents. Without electronic means and devices, the world would come to a standstill. Electronic devices have become an integral and the utmost important part of human life. However, the concern is not the emerging technologies or the technological upgradation, but the misuse and the harm it may cause to the common public. Technology has certainly made life easier and has decreased the difficulties of certain tasks drastically but it has also increased the possibilities of illegal activities. Financial frauds have become more common now because humans are finding ways to go around the system by using technology to aid them in the task. The proliferation of information technologies based on computers and communication devices, as well as process optimization and computerization in all spheres of life, have blurred national infrastructure and economic borders.