THE ROLE OF FORENSIC ACCOUNTING IN ANTI-MONEY LAUNDERING EFFORTS
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- 1-5 Chapters
- Quantitative
- Factor Analysis
- Abstract : Available
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- Recommended for : Student Researchers
- NGN 3000
Abstract: THE ROLE OF FORENSIC ACCOUNTING IN ANTI-MONEY LAUNDERING EFFORTS
This study investigates the role of forensic accounting in anti-money laundering (AML) efforts, focusing on its effectiveness in identifying money laundering activities, supporting regulatory compliance, and aiding in legal prosecutions. The research employed a survey design, targeting 340 forensic accountants and compliance officers in Lagos, selected using Taro Yamane's formula. The survey instrument achieved a reliability coefficient score of 0.91. Findings indicate that forensic accounting significantly enhances the detection of money laundering activities, supports organizations in meeting regulatory compliance requirements, and provides robust evidence for legal prosecutions. The study recommends that financial institutions strengthen their AML frameworks by incorporating forensic accounting practices and continuously train their staff on emerging money laundering techniques.
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