Globalisation has raised the risk of financial crimes, which seriously threaten enterprises’ commercial operations. Consequently, the requirement to reduce risk using all available methods has also increased.
Money laundering is a global issue that financial institutions, especially those in the banking sector, are becoming increasingly concerned about because it can undermine them and expose them to severe dangers like operational, legal, and reputational issues (Mohamad Abdul Latif & Abdul-Rahman, 2018; Raweh et al., 2017). Globalisation has raised the risk of financial crimes, which seriously threaten enterprises’ commercial operations. Consequently, the requirement to reduce risk using all available methods has also increased.
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