Modern Offense Typologies to Reduce the Risk of Money Laundering and Increase Financial Stability and Sustainability in the United States Banking System

Abstract

This qualitative descriptive case study aimed to identify predicate offense typologies that U.S. banking and financial services company compliance managers use to reduce the risks of money laundering and sustainable financing activities. The target population consisted of 15 research participants. The data were collected using semi structured interviews, semi structured observations, and document reviews from business and finance academic journals. The data were analyzed using a coding approach, thematic analysis, and content analysis. The quintessence of this study was influenced by the participants’ lived experiences and expertise. The study’s findings uncovered predicate offense typologies related to financial risks that are increasing the risks of money laundering and sustainable financing activities. The study results indicate the benefits of modifying money laundering and sustainable financing risk mitigation approaches and developing new mitigating controls. Additionally, the study findings increase insight for compliance managers to implement strategic changes that will stimulate long-term sustainable growth and economic value. Compliance managers may understand new risks and modify operational measures to mitigate financial risk risks.