The system integration of anti‐money laundering data reporting and customer relationship management in commercial banks

Jun Tang and Lishan Ai

Journal of Money Laundering Control, 2013, vol. 16, issue 3, 231-237

Abstract: Purpose - This paper proposes to use system integration between customer relationship management (CRM) and anti‐money laundering (AML) suspicious data reporting in commercial banks to increase the initiative of suspicious transaction identification, reduce the false reporting rates, and improve the intelligence quality. Design/methodology/approach - This paper introduces the structure of CRM in commercial banks, discusses deficiencies of the current AML data reporting system, and designs the layering of CRM and AML transaction identification module. Findings - This paper finds that the functions of customer behavior analysis and customer background investigation of CRM system can be redesigned and used for increasing the quality of AML suspicious transaction reporting in commercial banks. Originality/value - This paper creatively proposes that system integration of CRM and AML suspicious transaction reporting can make a contribution to reducing the AML cost for commercial banks.

Keywords: Anti‐money laundering; Customer relationship management; Suspicious transaction reporting; Commercial banks; Money laundering (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-04-2013-0010

DOI: 10.1108/JMLC-04-2013-0010

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