Fighting money laundering with technology: a case study of Bank X in the UK

Demetis, Dionysios S.

Abstract

This paper presents a longitudinal interpretive case study of a UK bank’s efforts to combat Money Laundering (ML) by expanding the scope of its profiling of ML behaviour. The concept of structural coupling, taken from systems theory, is used to reflect on the bank’s approach to theorize about the nature of ML-profiling. The paper offers a practical contribution by laying a path towards the improvement of money laundering detection in an organizational context while a set of evaluation measures is extracted from the case study. Generalizing from the case of the bank, the paper presents a systems-oriented conceptual framework for ML monitoring.

Citation

Demetis, D. S. (2018). Fighting money laundering with technology: a case study of Bank X in the UK. Decision Support Systems, 105, 96-107. https://doi.org/10.1016/j.dss.2017.11.005

• Journal Article Type: Article
• Acceptance Date: Nov 21, 2017
• Online Publication Date: Dec 2, 2017
• Publication Date: 2018-01
• Deposit Date: Dec 1, 2017
• Publicly Available Date: Jun 3, 2019
• Journal: Decision support systems
• Print ISSN: 0167-9236
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 105
• Pages: 96-107
• DOI: https://doi.org/10.1016/j.dss.2017.11.005
• Keywords: Money laundering; Systems theory; Transaction monitoring systems; Profiling
• Public URL: https://hull-repository.worktribe.com/output/481454
• Publisher URL: https://www.sciencedirect.com/science/article/pii/S0167923617302178
• Additional Information: This article is maintained by: Elsevier; Article Title: Fighting money laundering with technology: A case study of Bank X in the UK; Journal Title: Decision Support Systems; CrossRef DOI link to publisher maintained version: http://dx.doi.org/10.1016/j.dss.2017.11.005; Content Type: article; Copyright: © 2017 Elsevier B.V. All rights reserved.
• Contract Date: Dec 4, 2017