Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)

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Countermeasures against CBDC Financial Crimes

Authors
Tao Zhang1, *, Yitong Li2
1School of Computer, Nanjing University of Science and Technology Zijin College, Jiangsu, China
2College of Finance and Economic, Shandong University of Science and Technology, Shandong, Tai′an, China
*Corresponding author. Email: dypro_mike@outlook.com
Corresponding Author
Tao Zhang
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-098-5_61How to use a DOI?
Keywords
CBDC; Digital Currency; Financial Crime; AML; CTF
Abstract

The traditional currency cross-border circulation model has many problems in terms of efficiency, cost, and security. The private digital currencies represented by Bitcoin and Ethereum are flourishing and occupying an increasingly important position in cross-border payments. However, digital currencies themselves face great uncertainty and affect the stable operation of the global monetary system. In response, countries have started to develop CBDCs to enhance their financial inclusion and international competitiveness of their currencies with the advantages of digital currencies. However, the birth of new technologies often creates new problems, and CBDCs face a trade-off between privacy and transparency in their design, which can directly affect the supervision of CBDC funds and lead to CBDCs becoming a tool for financial crimes. This paper introduces the background and dynamics of CBDC development and the challenges it faces and combines existing relevant research and literature to propose countermeasures against CBDC financial crimes from several aspects: big data, artificial intelligence, and new regulation. Finally, future research directions in this field are proposed.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
78-94-6463-098-5
ISSN
2352-5428
DOI
10.2991/978-94-6463-098-5_61How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Tao Zhang
AU  - Yitong Li
PY  - 2022
DA  - 2022/12/27
TI  - Countermeasures against CBDC Financial Crimes
BT  - Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
PB  - Atlantis Press
SP  - 543
EP  - 548
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-098-5_61
DO  - 10.2991/978-94-6463-098-5_61
ID  - Zhang2022
ER  -