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Author: B. H. M. Custers

Affiliation: Tilburg Institute for Law, Technology and Society, Tilburg University; Capgemini Consulting Services, Capgemini Netherlands BV, Netherlands

ISBN: 978-972-8865-90-0

Keyword(s): Risk profiling, identification, money laundering, terrorism, terrorism funding, information strategy, KYC, Patriot Act.

Related Ontology Subjects/Areas/Topics: Enterprise Information Systems ; Formal Methods ; Information Systems Analysis and Specification ; Methodologies and Technologies ; Operational Research ; Security ; Simulation and Modeling

Abstract: In order to track money laundering and terrorist funding, banks have to create risk profiles of their clients. Banks that want to do business in the United States have to implement a worldwide Know Your Customer (KYC) program, partially based on the Patriot Act. Implementing a KYC policy, however, raises several problems and seems to be neither effective nor efficient in tracking money laundering and terrorist funding. Given problems regarding the identification of individuals, it is not too difficult for criminals and terrorists to avoid being detected by certain types of screening. In this contribution, the way risk profiling strategies are implemented in practice are discussed, including the problems this may raise.

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Paper citation in several formats:
H. M. Custers B. and (2007). RISK PROFILING OF MONEY LAUNDERING AND TERRORISM FUNDING - Practical Problems of Current Information Strategies.In Proceedings of the Ninth International Conference on Enterprise Information Systems - Volume 2: ICEIS, ISBN 978-972-8865-90-0, pages 90-94. DOI: 10.5220/0002347700900094

@conference{iceis07,
author={B. {H. M. Custers}},
title={RISK PROFILING OF MONEY LAUNDERING AND TERRORISM FUNDING - Practical Problems of Current Information Strategies},
booktitle={Proceedings of the Ninth International Conference on Enterprise Information Systems - Volume 2: ICEIS,},
year={2007},
pages={90-94},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0002347700900094},
isbn={978-972-8865-90-0},
}

TY - CONF

JO - Proceedings of the Ninth International Conference on Enterprise Information Systems - Volume 2: ICEIS,
TI - RISK PROFILING OF MONEY LAUNDERING AND TERRORISM FUNDING - Practical Problems of Current Information Strategies
SN - 978-972-8865-90-0
AU - H. M. Custers, B.
PY - 2007
SP - 90
EP - 94
DO - 10.5220/0002347700900094

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