Banking Bad? A Global Mystery Shopping Test of the Risk-Based Approach 2021 | STEP – Advising Families Across Generations | 24 March 2021 | Virtual Event
Venue
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| Event Date |
Wed Mar 24 UTC (over 3 years ago)
In your timezone (EST): Wed Mar 24 12:30pm - Wed Mar 24 1:30pm |
| Location | Virtual Event |
| Region | EMEA |
Details
Banks and corporate service providers are meant to apply a risk-based approach to customer due diligence, yet no one really knows if they do in practice. To test this proposition, a global 'mystery shopping' exercise based on thousands of solicitations for companies and corporate bank accounts was conducted. Those doing the shopping were a mix of real shell companies and fictitious consultants we created to personify various risk profiles, from corruption to terrorist financing. The design of our study allowed us to measure the effect of different kinds of risk on the likelihood that firms would do business, and on their propensity to follow or flout international know-your-customer rules.
Part of the Thought Leadership Series of webinars which will provide virtual access to the most topical content from the STEP Global Congress 2020 programme.
Speakers
2021 Speakers
MODERATOR:
Ian Huddleston TEP
Board Member, STEP Worldwide
PANEL:
Professor Jason Sharman
University of Cambridge, UK
Sponsors & Partners
2021 Sponsor
• Rawlinson & Hunter