2019-Sustainable Industrial Processing Summit
SIPS2019 Volume 5: McNeil Intl. Symp. / Laws and their Applications for Sustainable Development
| Editors: | F. Kongoli, Y. Hayakawa, K. Oliver |
| Publisher: | Flogen Star OUTREACH |
| Publication Year: | 2019 |
| Pages: | 70 pages |
| ISBN: | 978-1-989820-04-9 |
| ISSN: | 2291-1227 (Metals and Materials Processing in a Clean Environment Series) |
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From Facial Recognition to Fraud: The Rise of the Lex Technologica and its impact on Financial Crime
Keith Oliver1;1PETERS & PETERS, London, United Kingdom;
Type of Paper: Regular
Id Paper: 388
Topic: 61
Abstract:
The law is dangerously lagging behind today’s ever more digitalized world. Technologies such as Facial Recognition and Biometric Data Stores are on the rise, used in an effort to trace criminals. However, in light of the recent reports of defunct or inaccurate software, incorrect matches, and innocent arrests, has the law harnessed this power properly? Or should we revert to lip-reading as per HAL 9000 in the Kubrick masterpiece 2001: A Space Odyssey? This paper will explore emerging technologies and the peaks and pitfalls of their use in the context of fighting Financial Crime. Is Blockchain the way of the future in terms of asset recovery and tracing? Is Facial Recognition software akin to electronic tagging? In our bid to fight fraud, have we sacrificed our privacy? These are just some of the questions in store for this discussion.