Issue |
E3S Web of Conf.
Volume 389, 2023
Ural Environmental Science Forum “Sustainable Development of Industrial Region” (UESF-2023)
|
|
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Article Number | 09032 | |
Number of page(s) | 16 | |
Section | Environmental Policy and Economics | |
DOI | https://doi.org/10.1051/e3sconf/202338909032 | |
Published online | 31 May 2023 |
Determinants of money laundering: a study among commercial banks in Malaysia
Asia Pacific University, Jalan Teknologi 5, Taman Teknologi Malaysia, 57000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
* Corresponding author: suresh.balasingam@apu.edu.my
Banks and other financial institutions are required by law to comply with AML requirements to guarantee they do not facilitate money laundering. However, financial institutions are exceptionally susceptible to money laundering activities in Malaysia. With this concern, this project aimed to identify the determinants which contribute to money laundering activities among commercial banks in Malaysia. Since there are only a few studies have analysed various factors that influence money laundering, this study intends to achieve the aim of the study which is to figure out the level of influence that the factors identified as independent variables on the dependent variable, money laundering. In this study, technology, legal framework, income, and ethical behaviour are acknowledged as the independent variables. A total of 102 survey questionnaires were delivered to commercial bank employees via a convenience sample strategy. Descriptive and inferential statistics were compiled by entering the replies of a total of 102 respondents one by one into SPSS. The results revealed that there is a positive relationship and correlation between all four independent variables; technology, legal framework, income and ethical behaviour towards the dependent variable, money laundering. Consequently, the null hypothesis formulated for this research has been disproved, however, the alternative hypotheses have all been accepted and validated by the data analysis conducted. In addition, this research is claimed to be capable of resolving money laundering difficulties and educating commercial banks on how to identify and prevent money laundering in their organisations.
Key words: Money Laundering / Technology / Legal Framework / Income / Ethical Behaviour
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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