Banking Bad? A Global Mystery Shopping Test of the Risk-Based Approach - 24 March 2021

Host group
Host Left
Event Type
Web Event
Date

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

Moderator: Ian Huddleston TEP, Chair of the Professional Standards Committee, STEP Worldwide

Panel:

  • Professor Jason Sharman, University of Cambridge, UK

Speaker biographies

 #STEPThoughtLeadership

Thank you to our sponsor

Rawlinson & Hunter
Cost group
Event Cost
Member £48
Non-Member £60
*Prices include VAT that is chargeable to all delegates
Schedule
16.30 – 17.30 GMT
CPD Points
CPD Certificates are not automatically supplied following an event. Should you require a CPD certificate confirming your attendance at an event please contact the person on the calendar listing to request this.
1 hour
Register
Contact
STEP Web Events
-
WebEvents@step.org
Add to Calendar 2021-03-24 00:00:00 2021-03-24 00:00:00 Banking Bad? A Global Mystery Shopping Test of the Risk-Based Approach - 24 March 2021 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 Moderator: Ian Huddleston TEP, Chair of the Professional Standards Committee, STEP Worldwide Panel: Professor Jason Sharman, University of Cambridge, UK Speaker biographies  #STEPThoughtLeadership Thank you to our sponsor Europe/London public