Facoltà di scienze economiche

Integrating anti-money laundering compliance duties into the banking culture

Sandulescu, Mihaela ; Barone Adesi, Giovanni (Dir.)

Thèse de doctorat : Università della Svizzera italiana, 2016 ; 2016ECO011.

This thesis sets out to investigate whether the anti-money laundering (AML) compliance duties have been integrated into the banking culture. The first two chapters briefly present the Swiss AML framework and relevant numbers. Using survey data from 52 respondents, Chapter 3 presents evidence on how banks coped with compliance requests, starting from the internal due diligence and reporting... More

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    Summary
    This thesis sets out to investigate whether the anti-money laundering (AML) compliance duties have been integrated into the banking culture. The first two chapters briefly present the Swiss AML framework and relevant numbers. Using survey data from 52 respondents, Chapter 3 presents evidence on how banks coped with compliance requests, starting from the internal due diligence and reporting measures put in place to their motivations for investing in money-laundering counteractions. Using the same survey data, Chapter 4 tests how various characteristics of certain banks and compliance officers can make the conflict between relationship managers and compliance officers more likely. Chapter 5 instead discusses the findings of 25 interviews conducted with relationship managers in the Swiss cantons of Ticino, Geneva and Zurich about their experience regarding AML compliance and more precisely, their interaction with the compliance officer. To the best of our knowledge, this is the first study of this type in Switzerland. In addition, it is the first study that empiri-cally assesses the (conflictual) relationship between the compliance officer and the relationship manager.