Impact of technology on relationship checks to prevent financial crime worldwide 2019

Published by
Einar H. Dyvik,
Feb 2, 2024
In a March 2019 survey, 47 percent of respondents globally said that technology significantly improves KYC on the identity of clients during the relationship check. The Know Your Client or Know You Customer rule is used in the investment industry, and ensures that advisors have a detailed knowledge of their clients' risk tolerance, investment knowledge, and financial standing. No difference in using or not using technology was detected when it came to their suppliers or relationships.

Success rate of relationship checks in financial crime prevention worldwide in 2019, by technology use

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Source

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Release date

June 2019

Region

Worldwide

Survey time period

March 2019

Number of respondents

3,138 respondents

Special properties

Managers with compliance-related responsibilities at large global organizations

Method of interview

Online survey

Supplementary notes

This question was phrased by the source as follows: "of the checks you selected, which of them do you consider are usually successfully conducted?"

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