Baker Institute paper looks at electronic money trail

Aug 31, 2011

A dramatic growth in technologies, combined with older methods of money transfers, has helped create new opportunities for criminals to cover their financial tracks. A new report by Rice University's Baker Institute for Public Policy and the Brookings Institution Center for Technology Innovation details the latest trends in the illicit movement of money around the world and proposes several ways to curtail it.

"The combination of the enormous growth in social networks, the complexity of peer-to-peer systems and software and the number of Internet and wirelessly connected devices is altering the landscape of financial transactions at a rate and to a degree that is unprecedented," wrote Christopher Bronk, fellow in information technology policy at the Baker Institute and one of the report's co-authors.

"Shadowy Figures: Tracking Illicit Financial Transactions in the Murky World of Digital Currencies, Peer-to-peer Networks and Mobile Device Payments" was also co-authored by John Villasenor, nonresident senior fellow at the Brookings Institution in governance studies and the Center for , and Cody Monk, instructor/lecturer at the National Intelligence University and the Naval Postgraduate School.

"Almost no one would argue that governments do not have a right to track and trace digital associated with activities such as terrorism and human trafficking," the authors wrote. "It is less clear, however, how governments can surmount the formidable technical and organizational challenges associated with detecting and monitoring these transactions."

They suggested that any solution "will require a combination of self-regulation, government-industry collaboration and change in both technology and culture within government agencies."

The report was published by the Baker Institute and the Brookings Institution and can be viewed in its entirety at bakerinstitute.org/publications .

Explore further: How limiting CEO pay can be more effective, less costly

Related Stories

Baker Institute policy report looks at cybersecurity

Feb 24, 2011

A new article written by a fellow at Rice University's Baker Institute for Public Policy calls on the intelligence community to jointly create a policy on cybersecurity and determine the degree to which the U.S. should protect ...

Scientist urges new look at government 'Web-tapping'

Dec 02, 2008

The technology of government surveillance has changed dramatically, and the rules governing surveillance should be changed accordingly. Chris Bronk, a fellow in technology, society and public policy at Rice University's Baker ...

American Express makes digital wallets

Mar 29, 2011

American Express on Monday launched an online financial transactions service that it claims goes beyond what others provide in a market dominated by PayPal.

'What if?' scenario: Cyberwar between US and China in 2020

Mar 23, 2011

As Iran's nuclear plant attack and Chinese-based hackers attacking Morgan Stanley demonstrate how the Internet can wreak havoc on business and governments, a new paper by a fellow at Rice University's Baker Institute for ...

Recommended for you

A call to US educators: Learn from Canada

11 hours ago

As states and the federal government in the U.S. continue to clash on the best ways to improve American education, Canada's Province of Ontario manages successful education reform initiatives that are equal parts cooperation ...

Devices or divisive: Mobile technology in the classroom

Apr 17, 2015

Little is known about how new mobile technologies affect students' development of non-cognitive skills such as empathy, self-control, problem solving, and teamwork. Two Boston College researchers say it's ...

Forming school networks to educate 'the new mainstream'

Apr 17, 2015

As immigration increases the number of non-English speaking "culturally and linguistically diverse" students, schools will need to band together in networks focused on the challenges of educating what has been called "the ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.