> New technologies and increased digitalisation of financial transactions pose additional challenges, such as the convergence of different types of criminal activities like fraud, cybercrime and financial crime into one. Economic and financial crimes undermine legitimate financial organisations, distort competition and the overall dynamics of a free market environment, and have a significant negative impact on society at large. Criminal proceeds also fuel corruption, which in turn furthers crime.

https://www.europarl.europa.eu/RegData/etudes/BRIE/2020/6520...