Anti-money laundering main techniques and tools: a review of the literature

Abstract

[Abstract]: Money laundering poses a significant threat to global financial integrity and sustainable economic development. This systematic review and meta-analysis examines state-of-the-art research on fraud and corruption, focusing particularly on anti-money laundering (AML) practices. Following PRISMA guidelines, 45 key studies published over the past decade were analyzed, revealing a significant paradigm shift from traditional statistical methods towards sophisticated machine learning techniques and network analysis. The study highlights an increased use of advanced quantitative methods for detecting suspicious financial patterns, alongside a growing importance of mixed-method approaches that integrate quantitative analysis with qualitative contextual understanding. Emerging challenges posed by new financial technologies, especially cryptocurrencies and virtual assets, are identified, necessitating adaptive strategies. The findings underscore the critical need for interpretable models that meet regulatory requirements while maintaining detection efficacy, and the importance of developing scalable techniques for analyzing large-scale transaction networks. A pressing concern emerges regarding the balance between detection effectiveness and individual privacy protection. The study emphasizes the necessity for adaptable and robust models capable of addressing the evolving nature of financial crimes. A comprehensive overview of current methodologies is provided, key research gaps are identified, and future directions are proposed, including the development of context-specific solutions, particularly for developing economies, and the exploration of advanced data fusion techniques. This work contributes significantly to the ongoing dialogue in the financial crime prevention community, serving as a valuable resource for researchers, practitioners, and policymakers. By synthesizing current knowledge and identifying emerging trends, this study aims to inform the development of more effective, adaptable, and ethically sound approaches to combating illicit financial activities in an increasingly complex global landscape.