Centro de Documentação da PJ
Analítico de Periódico
CD 335
European approach to remote customer onboarding solutions [Recurso eletrónico] / Daniel Cookman
Journal of Money Laundering Control, Vol. 26, n. 7 (2023), p. 213-223
Ficheiro de 144 KB em formato PDF.
CORRUPÇÃO, CRIME VIA INTERNET, PREVENÇÃO DA CORRUPÇÃO, PREVENÇÃO CRIMINAL, BRANQUEAMENTO DE CAPITAIS
Purpose – This study aims to identify European positioning on the use of remote customer onboarding solutions in combating financial crime. Design/methodology/approach – This study is a desktop research that examines European Banking Authority (EBA) policy statements relating to the use of innovative solutions in combating financial crime. Findings – Technological advancements in biometric data and software tools provide a unique opportunity to address potential paper customer onboarding process deficiencies. Electronic remote customer onboarding solutions equip credit, financial institutions and investment firms with an alternative FTE cost-saving solution, in their pursuit of revenue generation. Whilst the EBA and Financial Action Task Force have provided approval for the utilisation of innovative solutions and AML technologies in combatting financial crime. Hesitancy remains on the ability of credit and financial institutions to use technological solutions as a “magic solution” in preventing the materialisation of money laundering/terrorist financing related risks. Analysis of policy suggests a gravitation towards the increased use of the aforementioned technologies in the interim.
