Combating the Layering and Integration of Money Laundering by Debit Card

Qian Sun, CAMS-Audit

Debit cards are a basic and popular financial instrument all over the world, and they have inevitably been used throughout all three stages of money laundering. In recent years, along with new technologies adopted in the financial system, debit card payments have become a very convenient and efficient option, particularly in Asia-Pacific countries and regions where debit cards are widely used in not only cash withdrawal but also purchase transactions.

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