The emergence of the digital economy has serious implications on the pervasiveness of money laundering. The key factors that affect money laundering activities were studied using the double-Tobit method. In particular, this article addresses the implications of information and communication technology on money laundering behavior. The key findings from the study provide evidence that information and communication technology alone is not effective in curbing money laundering activities but effective when coupled with a high-skilled workforce and an efficient tax system.Based on the findings, various initiatives were identified. Enforcement challenges faced to combat money laundering globally and, in particular, in developing economies were also discussed.