Financial Crimes

Abstract

The use of inside information has produced greater controversy. Unlike insider trading, market manipulation is a very broad category of conduct extending beyond securities to other markets such as commodities, foreign exchange, etc. Artificial intelligence (AI) algorithmic trading exposes markets to new and emerging risks, embracing novel types of market manipulation. Moreover, insider trading, wash trading, and price manipulation are utilized in the Non-Fungible Tokens (NFT) market. Money laundering undercuts the integrity of financial institutions and undermines control over national economic policies. AI assists financial compliance, which means that automated systems scrutinize transactions for their compliance with the laws of Know Your Customer (KYC) and Anti-Money Laundering (AML).