Block Chain as Anti-Money Laundering Service
Download| Volume 1 Issue 1 2021 | |
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| Author(s): |
Muhammad Saleem Akhtar
Muhammad Hussain
Kashif Iqbal
Muhammad Waseem Iqbal
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| Abstract | It has been observed in recent trends that block chain technology has become a big domain in information technology.IT professional’s way of thinking has been changed due to this technology. Companies focus on the use of blockchain and their services to ensure safety and reliability. This paper focuses on these methods with the help of non-deduction funds. Global and The rapid pace of innovation have created unused brain pain in banks and governments around the world. The estimated amount of money laundering through the world is about 2-5% of global GDP there is about $800 billion dollar-$2 trillion. In this paper, we have proposed the ways in which companies in the future will be able to use block chain solutions to prevent money laundering. Money laundering or AML fraud is already big business. For those companies that can create new and effective communication-based technologies that can help curb withdrawals, the financial rewards will be huge. In addition I will look in a few common ways that money laundry is done to make it seem right for a few of these systems to improve |
| Keywords | Block chain, Anti-money laundering (AML), Smart Contract. |
| Year | 2021 |
| Volume | 1 |
| Issue | 1 |
| Type | Research paper, manuscript, article |
| Recognized by | Higher Education Commission of Pakistan, HEC | Category | "-" | Journal Name | ILMA Journal of Technology & Software Management | Publisher Name | ILMA University | Jel Classification | C7100 | DOI | - | ISSN no (E, Electronic) | 2709-2240 | ISSN no (P, Print) | - | Country | Pakistan | City | Karachi | Institution Type | University | Journal Type | Open Access | Manuscript Processing | Blind Peer Reviewed | Format | Paper Link | pdf/4.pdf | Page | 25-30 |