Financial Integrity in the Digital Age: How Technology Aids in Fighting Financial Crimes in the United Kingdom and Saudi Arabia

Abstract

The primary objective of the current research is to determine the impact of technological advancements on eliminating and preventing money laundering, fraudulent activities and other illegal acts with emphasis on United Kingdom and Saudi Arabia. The research employs a legal perspective to gain understanding and comprehension about the study. Furthermore, the in-depth analysis of the findings revealed that different technologies including machine algorithms, data analytics, surveillance system, biometric identification and forensic accounting etc. play a pivotal role in detecting frauds earlier and resolve them. Moreover, the outcomes of the research depict that different legislations have been implemented for resolving criminological activities. This implies that the authorities of both the UK and Saudi Arabia are integrating technological advancements with legal systems for tackling the issues of fraud and money laundering. Thus, the study concludes that technological integration with legal system is contributing significantly towards resolving the issue financial offenses.