AN APPRAISAL OF THE ROLE OF ANTI-MONEY LAUNDERING LAWS IN COMBATING FINANCIAL CRIMES AND TERRORIST FINANCING AMIDST GLOBAL GEOPOLITICAL TURMOIL

In today’s rapidly evolving global financial landscape, the rise in financial crimes and terrorist financing continues to threaten the economic and national security of nations. This paper aims to assess the effectiveness of Anti-Money Laundering (AML) laws in addressing these threats, particularly amid increasing geopolitical instability. The primary objectives are to examine how current AML frameworks respond to the complex tactics used by criminal and terrorist networks, analyse the role of international cooperation, and explore the potential of emerging technologies in enhancing financial oversight. Employing a doctrinal research approach based on a thorough review of academic literature, policy documents, and regulatory reports, the paper evaluates the strengths and weaknesses of existing AML regimes. The analysis revealed that financial crimes are becoming more transnational, exploiting regulatory gaps, weak jurisdictions, and global conflicts to transfer illicit funds undetected. It also finds that many current AML mechanisms struggle to keep pace with the evolving strategies of criminal and terrorist actors. The paper highlights the urgent need for stronger international cooperation among financial institutions, regulators, and law enforcement agencies. It also advocates for the strategic use of innovative technologies such as blockchain analytics, machine learning, and artificial intelligence to enhance real-time detection and reduce human oversight errors. In conclusion, the paper recommends a multi-layered approach that is, strengthening AML legislation, investing in cross-border intelligence sharing, and modernising compliance systems through technological integration. These actions are vital for protecting global financial integrity and disrupting the financial support networks of criminal and terrorist organisations in an era marked by geopolitical uncertainty