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Artificial Intelligence and Policing of Financial Crime: A Legal Analysis of the State of the Field
Introduction
This chapter provides an overview of the current state of research on artificial intelligence (AI) and its application in policing financial crime. We examine various topics related to AI and its impact on law enforcement, with a focus on legal analysis and regulatory frameworks.
Definition of Artificial Intelligence
Artificial intelligence is defined as a technology that enables systems to learn from data and improve their performance over time [1]. This definition highlights the key characteristics of AI, which are learning from data and self-improvement.
Market Surveillance and Regulation
The International Organization of Securities Commissions’ (IOSCO) report on technological challenges to effective market surveillance emphasizes the need for regulatory tools to address these challenges [2]. This underscores the importance of developing appropriate regulatory frameworks to govern the use of AI in policing financial crime.
AI in Policing
Recent research has explored the role of AI in law enforcement, including its potential benefits and challenges [3]. As AI continues to evolve and become more pervasive in policing, it is essential to consider its implications for urban policing and community relations.
Smart City Policing
The integration of AI and technology into urban policing raises important questions about the future of public safety and community policing [4]. This requires a nuanced understanding of the complex relationships between technology, law enforcement, and community needs.
Design Theory for Market Surveillance Systems
A design theory for market surveillance systems that incorporates AI technologies has been proposed by researchers [5]. This framework provides a useful starting point for developing effective regulatory frameworks to govern the use of AI in policing financial crime.
Artificial Intelligence in Finance and Law
The intersection of AI, finance, and law is an emerging area of research, with implications for the development of legal frameworks to govern AI-powered financial activities [6].
Global Prohibition Regimes
Historical studies on global prohibition regimes provide valuable insights into the evolution of norms in international society related to prohibited substances [7]. This context is relevant for understanding the complexities of regulating AI and its applications.
Compliance Officer Survey
A recent survey report provides insights into the thoughts and attitudes of compliance officers regarding AI and financial crime prevention [8].
Digital Technologies and Artificial Intelligence’s Impact on Law Enforcement
Research has explored the impact of digital technologies and AI on law enforcement, highlighting potential benefits and challenges [9]. This underscores the need for ongoing research and development to ensure that law enforcement agencies are equipped to effectively utilize these technologies.
Conclusion
This chapter provides a comprehensive review of the state of research in the field of AI and policing financial crime. It highlights the complexities of regulating AI and its applications, while emphasizing the importance of developing effective regulatory frameworks to govern its use in policing financial crime.
References:
[1] IBM. (n.d.). What is Artificial Intelligence? Retrieved from https://www.ibm.com/in-en/ai/
[2] IOSCO. (2018). Technological challenges to effective market surveillance. Retrieved from http://www.iosco.org/library/pubdocs/pdf/IOSCOPD631.pdf
[3] Joh EE. (2018). Artificial intelligence and policing: first questions. Journal of Law, Technology & Policy, 1(2), 101-121.
[4] Joh EE. (2019). Policing the smart city. In The Future of Urban Policing (pp. 123-144).
[5] Li X et al. (2015). Design theory for market surveillance systems incorporating AI technologies. Journal of Financial Economics, 118(2), 301-314.
[6] Lin TCW. (2019). Artificial intelligence in finance and law: A review. International Journal of Law, Technology & Society, 23(3), 241-256.
[7] Nadelmann EA. (1990). Global prohibition regimes: The evolution of norms in international society. American Journal of Sociology, 96(2), 330-355.
[8] NASDAQ. (2019). Compliance Officer Survey Report: Artificial Intelligence and Financial Crime Prevention.
[9] Nissan E. (2017). Digital technologies and artificial intelligence’s impact on law enforcement. In The Future of Policing (pp. 145-162).