Adapting to New Realities
Financial Crimes and Emerging Ai Technology in Global and Eu Perspective
Bibliographic Data
| ID | 6416359 |
|---|---|
| Authors | Igor Vuletić (0000-0001-5472-5478), Dunja Duić (0000-0002-3838-413X) |
| Year | 2025 |
| Volume | 25 |
| Issue | 25 |
| Pages | 67-91 |
| Publication date | 2025-06-23 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Balkan Social Science Review (JOURNAL) |
| Journal identifiers | ISSN: 1857-8772 • E-ISSN: 1857-8799 |
| Publisher | Goce Delchev University - Shtip (PUBLISHER) |
| DOI | 10.46763/bssr25252567v |
| OpenAlex | W4411679726 |
| Language | EN |
| References cited | 27 |
The increasing integration of artificial intelligence (AI) and machine learning (ML) in financial markets has brought both opportunities and risks. While AI-driven tools enhance efficiency and profitability, they also introduce potential threats, particularly in the realm of financial crimes. This paper explores the role of AI in financial markets, focusing on its potential to facilitate fraudulent activities such as market manipulation, price fixing, and collusion. The unpredictability of AI, coupled with its ability to autonomously make trading decisions, raises complex legal and regulatory challenges.A key issue discussed is the difficulty in attributing criminal liability when AI autonomously engages in illicit financial activities. Traditional legal frameworks rely on human intent (mens rea) as a cornerstone of financial crime prosecution. However, AI-driven misconduct challenges this notion, as existing laws are often inadequate in addressing cases where no clear human perpetrator can be identified. Through a comparative legal analysis of the US, UK, and European legal systems, this paper highlights the limitations of current regulations in holding AI developers, financial institutions, or corporate entities accountable for AI-induced financial crimes
Business · Perspective (graphical · Political science · Computer Science · Crime, Illicit Activities, and Governance · Artificial Intelligence
| Citation velocity | historical |
|---|---|
| Highly cited | No |