Phase IFoundation
Background
Overview
This concept is crucial for understanding the evolving landscape of governance, the application of technology in public administration, and the challenges posed by new financial technologies for internal security and financial stability. It highlights policy responses to digital financial crime.
Technology plays a dual role in modern governance: it can enhance transparency, efficiency, and accountability through e-governance initiatives, but it also presents new challenges, particularly with emerging financial technologies and virtual digital assets, which can be exploited for illicit activities like money laundering and concealing proceeds of corruption.