KYC(Know Your Customer)是銀行非常重要的一項程序，除了法規上的遵循外，也同時要滿足控制客戶投資風險和防制洗錢的目的，但各銀行重複花費大量的金錢和時間成本在相同客戶KYC資料的收集和驗證上。 區塊鏈是一個採用密碼學及共識演算技術來確保交易資料無法被竄改的分散式帳本系統，被稱為無須中間人的信任機器。 本研究透過區塊鏈做為銀行之信任基礎，在不改變既有的KYC流程下，提出一套”金融KYC平台”架構，讓不同銀行在提供金融服務時，每個客戶的KYC資料收集和驗證的程序只要進行一次。 此平台不使用集中式資料庫，KYC原始資料存放在客戶資料註冊銀行本地資料庫中，銀行透過區塊鏈驗證KYC資料之正確及完整性，並透過區塊鏈上紀錄的相關資訊，進行銀行間的資料的授權及同步作業。本研究實際建置展示了七個金融KYC平台的使用情境，驗證原先的各項程序假設，都能在兼顧安全和效率下完成。 / KYC (Know Your Customer) is a very important procedure for banks not only for regulatory compliance, but also to meet the controls of customer investment risk and the purpose of money laundering control. It takes a lot of money and time in the process of verifying the same customer’s information for each bank. Blockchain is a decentralized ledger platform that uses cryptography and consensus algorithm to ensure that transactional data can not be tampered with, and is known as a “Trust Machine”. Without changing current KYC procedures, this study build a "Banking KYC Platform" based on blockchain technology. And let the KYC validation be only conducted once for each customer between banks. This platform does not use centralized database. The original KYC data is stored in bank's local database. Banks verifiy customer KYC data’s correctness and completeness through blockchain and synchronize them based on the information recorded in blockchain. This study shows the result of verifying seven KYC use cases with this Banking KYC Platform. It is a complete demonstration for reaching the goal of solving security, efficiency and cost reduction problems.

Bakgrund: Intresset för världens första kryptovaluta Bitcoin har fått världen att öppna upp ögonen för dess underliggande teknologi: Blockkedjan (”Blockchain”). Blockkedjan kan beskrivas som en decentraliserad databas där ingen central aktör ensam kan bestämma över nätverket. Istället registreras och verifieras transaktioner av nätverkets deltagare. Detta möjliggör för digital information att distribueras men inte kopieras på ett tillförlitligt sätt. Teknologin har således möjlighet att skapa tillit mellan aktörer som vanligtvis inte litar på varandra och anses därför ha stor potential att effektivisera många branscher, däribland banksektorn. Det råder en stor optimism bland flertalet finansiella aktörer som undersöker vilka möjligheter teknologin har att förbättra dess produkter och tjänster. Syfte: Studiens syfte är att undersöka vilka användningsområden svenska banker ser potential för Blockkedjan och hur teknologin kan komma att appliceras inom banksektorn. Studien ämnar även analysera vilka effekter användningen av Blockkedjan kan få på transaktioner inom den svenska banksektorn. Genomförande: Studien karaktäriseras av en kvalitativ forskningsmetod. Empirinsamlingen har skett genom ett selekterat urval med fokus på individer som är insatta inom ämnet och banksektorn. Slutsats: Studien identifierar KYC, Smarta Kontrakt och Transaktioner som potentiella användningsområden för den svenska banksektorn. Framförallt KYC lyfts fram som ett område där blockkedjeteknologi kan spela en framtida roll i att förbättra hanteringen av kundinformation. Studien framhäver även trade finance och interbank-transaktioner som attraktiva områden för teknologin att effektivisera. Vidare visar resultatet att Blockkedjan inte skall ses som ett hot mot bankernas roll som intermediär utan en teknologi som möjliggör effektivisering av deras befintliga tjänster. Teknologin är att betrakta som en Emerging technology med en hög osäkerhet i dagsläget där teknologins största potential att ge effekt ligger i framtiden. De största hoten mot en implementering av blockkedjeteknologin inom banksektorn är att teknologin fortfarande befinner sig i en experimentell fas samt en brist på gemensamma standarder och regler banker och länder emellan. / Background: The interest for the first cryptocurrency in the world made the world caught the attention of the technology behind Bitcoin: Blockchain. Blockchain can be described as a decentralized database with no central part controlling its network. Instead, all transactions are registered and verified by the members of the network. This enables digital information to be distributed but not copied in a trustworthy way. The technology therefore has the possibility to create trust between parties that normally does not trust each other and is for that reason considered to have the potential to make many industries, including the banking industry more effective. Amongst a number of financial players that investigate the possible opportunities the technology have for improving their products and services, the optimism is high. Purpose: The purpose of this study is to research which potential fields of application Swedish banks sees for Blockchain and how the technology could be used by the banking industry. The study also intend to analyze the effects the usage of the technology would have on transactions within the Swedish banking industry. Completion: A qualitative research method characterize the study. The empirical data has been collected through a selected sample focused on individuals with knowledge and experience within the field. Conclusion: The study identifies KYC, Smart Contracts and Transactions as potential fields of application for the Swedish banking industry. In particular, KYC was highlighted as an area where the Blockchain technology could help improve managing the personal information of the customer. The study also points out trade finance and interbank-transactions as attractive areas of possible use for the technology. Furthermore, the result of the study shows that the technology should not be seen as a threat against banks role as an intermediary but a technology that enables the banks services to become more efficient. The technology is to be seen as an Emerging technology with high uncertainty today and where the potential impact lays in the future. The biggest threats against an implementation of the technology are that the technology still is in an experimental phase and the shortage of common standards and rules between banks and across countries.

近年來國內銀行積極發展財富管理業務，以無風險且固定的手續費收入為獲利的重要來源，其中銷售共同基金乃是銀行在賺取手續費收入中最主要的部份。然而自從全球金融海嘯來襲，投資人資產瞬間縮水，許多投資人這才知道自己投資了許多與自己投資屬性不合的產品。 為了保障投資人，金管會要求銀行業者在所有投資人投資前，必須進行「了解客戶投資屬性」(Know Your Customer, KYC)的流程，利用問卷的方式將客戶依風險承受程度予以分類，使投資人能夠投資於適合自己投資屬性的商品，因此本研究以投資人投資屬性及行為的影響因素為研究主題，利用國內某銀行財富管理客戶為樣本，以最小平方法估計並分析迴歸結果，希望藉由於實證模型的估計， 能夠找出影響投資人投資屬性的因素，做為投資人投資時的依據。此外，並進一步分析投資人在經過投資屬性分類後，其投資行為是否與其投資屬性相符合，以做為銀行業者判定投資屬性的參考。 在經過實證模型估計後，發現男、女性投資人的年齡對於投資人的積極程度，有顯著影響，而教育程度、工作性質對於投資人的投資屬性並沒有顯著影響，且投資人在經過銀行KYC流程後所判定出來的投資屬性，與其實際投資行為完全不相符。因此建議主管機關在規範銀行業者在進行投資屬性分類的過程中，應多設計一些能夠真實反映客戶投資風險屬性的題型，並加強宣導投資人對於各商品中風險及報酬的認知，將重點放在讓投資人瞭解投資商品，如此才能真正保障投資人的權益。

Know Your Customer compliance costs have never been higher for banks in Europe. This thesis looks at the application of blockchain technology to reduce Know Your Customer compliance costs. The work within aims to utilise the strengths of blockchain technology in order to reduce the costs of compliance for banks. This is done through collaboration with industry partners, resulting in a system designed to meet banks’ needs. The contributions of this work are: 1) A system which enables data sharing between banks, enabling 2) reduc tion of costs by at least 45%, and 3) reducing or eliminating over reliance on third parties, 4) an exploration of how to price data within the system is made in order to help banks further reduce their costs, 5) reduction of chain size by reducing the size of contract creation transactions in Ethereum by 90% for standard users, lastly, 6) to better understand the functionality and purpose of smart contracts. The system is the first of its kind to remove the requirement of third party storage solutions, and is the first to explore pricing aspects in detail.

Background: in order to have an established long-term relationship between customer and bank, a lot is  required, including trust, satisfaction and other things. This study will therefore aim to provide factors that can affect the relationship between bank and customer Purpose:​  This study aims to study factors that can affect the relationship between banks and customers. which should further increase understanding of how this can have an impact on customers. The study will focus on factors that can prevent and worsen the relationship Method:​ To address the purpose of this study, qualitative methods were applied, specifically focusing on interviews that were conducted in two individual groups. Conclusion: Growth in banking has had a significant impact on operations and risk management. Compliance with Nurturing relationships with customers is important to increase satisfaction and trust. Banks must adapt to the digital environment while preserving customer integrity. the factors examined in the study have a significant role in how the relationship may develop

Allt fler banker tillämpar artificiell intelligens (AI) i syfte att bekämpa finansiell brottslighet. Med den ökade användningen av AI uppkommer etiska utmaningar som banker behöver hantera för att säkerställa en god etik vid nyttjande av AI vid finansiell brottsbekämpning. Syftet med studien var att undersöka vilka ställningstaganden som ligger till grund för hur banker som använder AI hanterar etiska utmaningar inom finansiell brottslighet. Studien bygger på en kvalitativ ansats med semistrukturerade intervjuer för insamling av empiri samt en litteraturstudie för att besvara frågeställningen. En tematisk analys har gjorts för hur banker hanterar etiska utmaningar vid nyttjandet av AI för att bekämpa finansiell brottslighet, vilket ledde till följande slutsatser: banker hanterar etik både på individuell och organisatorisk nivå genom att undvika partiskhet, följa lagkrav, vara transparenta gentemot kunder att de övervakas samt följa upp beslut fattade av AI. Studiens resultat diskuteras utifrån etiska förhållningssätt såsom utilitarism, pliktetik och dygdetik. / More and more banks are applying artificial intelligence (AI) to fight financial crime. With the increased use of AI, ethical challenges arise that banks need to handle in order to ensure good ethics when using AI when fighting financial crime. The purpose of the study was to investigate which stances are the basis for how banks that use AI handle ethical challenges in financial crime. The study is based on a qualitative approach with semi-structured interviews to gather empirical evidence and a literature study to answer the research question. A thematic analysis has been made of how banks deal with ethical challenges when using AI to fight financial crime, which led to the following conclusions: banks deal with ethics both at an individual and organizational level by avoiding bias, complying with legal requirements but using the exceptions that exist for combating money laundering, being transparent to customers that they are being monitored, following up on decisions made by AI. The study's results are discussed based on different ethical approaches such as utilitarianism, duty ethics and virtue ethics.

Författare: Robin Castor och André Rosenqvist  Handledare: Elias Bengtsson  Examinator: Andreas Jansson  Titel: Anti Money Laundering – Förhindra eller undvika? – En studie om svenska AML-chefers inställning till penningtvättsregelverken.  Sökord: AML, Anti-Money Laundering, Penningtvätt, Bankreglering, Compliance, KYC, Kundkännedom, Riskbedömning, Riskbaserat förhållningssätt, Rapportering, Resursallokering  Bakgrund: Penningtvätt är ett växande problem som skadar samhället. För att hantera detta problem utfärdar EU kontinuerligt nya direktiv för medlemsländerna att implementera. Den aktör som hamnat mest i fokus är banker, där skandaler visat på brister i arbetet mot penningtvätt bland svenska banker. Regelverken ställer hårda krav samtidigt som ett riskbaserat förhållningssätt låter banker tolka och implementera arbetet olika. Genom att studera AML-chefers inställning till regelverken bidrar denna studie med en synvinkel som inte tidigare beaktats i Sverige.  Syfte: Denna studie syftar att öka förståelsen kring attityder mot AML och dess regelverk inom svenska banker, om det skiljer sig mellan olika banker samt vad det kan innebära för alla berörda parter.  Metod: En kvalitativ studie med abduktiv forskningsansats har genomförts. Studien har hämtat empiri genom semistrukturerade intervjuer med fem olika AML-chefer på den svenska bankmarknaden.  Resultat/Slutsatser: Studiens resultat visar hur AML-chefer i Sverige har en kritisk syn på penningtvätts-regelverken. Regelverken upplevs ställa höga, men rimliga, krav på bankerna. Flera fördelar med det riskbaserade förhållningssättet lyfts upp, där riskbedömning och kundkännedom ger en god överblick av verksamheten i ett bolagsstyrnings-perspektiv. Regelverken låter bankerna stänga ute de kunder som inte vill samarbeta. Tyvärr kan dessa kunder gå vidare till nästa bank och fortsätta sitt misstänksamma beteende. Detta problem grundar sig i banksekretessen som gör det omöjligt för banker att dela information och samarbeta i arbetet mot penningtvätt. Studien visar därmed hur incitamenten bakom efterföljandet av regelverket till stor del bygger på rädslan av att skada bankens eget rykte eller ådra sig stora bötesbelopp. Fokus har skiftat från att faktiskt försöka stoppa penningtvätt, till att endast undvika att själv bli utsatt för penningtvätt. / Authors: Robin Castor and André Rosenqvist  Supervisor: Elias Bengtsson  Examiner: Andreas Jansson  Title: Anti Money Laundering - Prevent or Avoid? A study of attitudes towards money laundering regulations among Swedish AML-managers.  Keywords: AML, Anti-money laundering, Money laundering, Banking regulation, Compliance, KYC, Know your customer, Risk assessment, Risk-based approach, Legal reporting, Resource allocation  Background: Money laundering is a growing problem that harms society. To address this issue, the EU is continuously issuing new directives for member states to implement. The banking sector has come to be the most affected industry, where scandals have shown deficiency in the work against money laundering among Swedish banks. These regulations set strict requirements at the same time as the risk- based approach allows banks to interpret and implement the regulations in various degrees. By studying how Swedish AML-managers experience these regulations, this study contributes with a point of view that has not been considered in Sweden previously.  Purpose: This study aims to increase the understanding of attitudes and experience towards AML and its regulations within Swedish banks, if it differs between banks and what it could signify for involved parties.  Method: A qualitative study with an abductive research approach has been conducted. The study has gained empirical data through semi-structured interviews with five different AML managers in the Swedish banking market.  Results/Conclusions: The results of the study show how AML managers in Sweden have a critical view of the money laundering regulations. The regulations are perceived to put high, but appropriate, requirements in the banks. Various advantages of the risk-based approach are highlighted, where risk assessment and customer awareness (KYC) provide a good overview of the business from a corporate governance perspective. The regulations allow banks to end their business relationship with customers who do not want to cooperate. Unfortunately, these customers are able continue their suspicious behavior throughout different banks. This problem is based on the bank secrecy, which makes it impossible for banks to share information and cooperate in the work against money laundering. The study shows how the incentives behind compliance with the regulations are largely based on the fear of damaging reputation or receiving heavy fines. The focus has shifted from actually trying to stop money laundering, to only avoiding being subjected to money laundering themselves.

自2008年5月起，國內發生了向銀行購買號稱保本或條件式保本的結構型債券的投資人，因所購買之結構債觸及下限，導致本金大賠，而這些投資人無法承受損失，組成自救會要向銀行討回投資本金的事件；同年9月美國雷曼兄弟公司倒閉，購買連結該公司股票，或購買由該公司及其子公司發行或保證之結構債之受害投資人要求銀行全額買回不當銷售之結構債，另外投資人亦多向銀行主管機關行政院金融監督管理委員會、民意代表等提出陳情，指稱銀行在販售結構債時，並沒有善盡事前告知的義務，加上用詐欺或誘導等方式進行不當行銷勸誘，並對應告知投資人的重要事項僅為選擇性的說明，且更有理專在簽約書面文件中偽造其已告知投資人相關風險及資訊，因此造成銀行不當銷售結構債等金融商品的議題受到重視及討論。 我國傳統上面對金融商品係針對個別商品之架構（例如有價證券或期貨）而採不同的監理規範，惟此種立法係以商品得以明確定性為前提，然在財務工程技術不斷推陳出新，金融創新成為趨勢的現在，混合傳統商品所推出的新型態金融商品就應如何定性及適用法律，即為監理及投資人保護法制上的新課題。 此外，從民眾經由銀行推介而投資結構型債券而生的糾紛可發現，銀行在向民眾推介購買金融商品時，常發生糾紛的類型多可歸類為未推薦符合客戶風險屬性商品的商品適合性（suitability）不符，以及銷售時未確實對於該項商品可能產生的風險完整告知。故有關商品適合性及告知義務在我國法上的規範及內容，及對於違反商品適合性及告知義務時，受害投資人若要提起相關訴訟時，應該如何主張自身的權益，亦為本文研究的重心。 本文於第壹章提出本文研究動機及研究方法，第貳章則介紹結構型債券的種類及風險，並嘗試替結構債進行法律定性，第參章分析銀行辦理財富管理業務時，應遵守之法規範，同時介紹國內銀行受投資人委託投資結構債之規定，並附論主管機關因結構債銷售爭議事件發生，而對結構型商品所增訂的管制規範，以及我國統一管理金融服務業銷售行為規範的金融服務業法。第肆章為分析國內銀行不當銷售結構債予一般投資人之法律爭議，並介紹國外實務案例，以及國外有關違反忠實義務及注意義務的判斷標準；另從我國現行法制下檢討受到銀行不當銷售之投資人可能得主張銀行損害賠償之請求權基礎，並觀察與分析我國目前利用銀行公會評議機制處理投資人申訴之情形；第伍章介紹英國2000年金融服務暨市場法中，關於消費者遇到金融商品服務相關糾紛時得採用的申訴機制，並介紹日本金融商品販賣法及金融商品交易法中對銷售行為管制相關規定；另附論該國實務界對於金融機構不當銷售時，對投資人應負的責任，以及該國實務界調節損害賠償責任的方式；第陸章為結論及建議，將提出我國目前法制對不當銷售之問題面臨的挑戰，尤其是於金融商品交易資訊不對稱的情形下，投資人提起商品適合性與金融機構未盡告知義務訴訟時產生的難題，並提供相關建議。

Money laundering involves activities which are aimed at concealing benefits that were acquired through criminal means for the purpose of making them appear legitimately acquired. Money laundering promotes criminal activities in South Africa because it allows criminals to keep the benefits that they acquired through their criminal activities. It takes place through a variety of schemes which include the use of banks. In this sense money laundering control is based on the premise that banks must be protected from providing criminals with the means to launder the benefits of their criminal activities. The Financial Intelligence Centre Act 38 of 2001 (‘FICA’) in aggregate with the Prevention of Organised Crime Act 121 of 1998 (‘POCA’) form the backbone of South Africa’s anti-money laundering regime. Like its international counterparts FICA imposes onerous duties on banks seeing that they are most often used by criminals as conduits to launder the benefits of crime. In turn, POCA criminalises activities in relation to the benefits of crime and delineates civil proceedings aimed at forfeiting the benefits of crime to the state. This study identifies the idiosyncrasies of the South African anti-money laundering regime and forwards recommendations aimed at improving its structure. To this end nine issues in relation to money laundering control and banks are investigated. The investigation fundamentally reveals that money laundering control holds unforeseen consequences for banks. In particular, a bank that receives the benefits of crimes such as fraud or theft faces prosecution if it fails to heed FICA’s money laundering control duties, for example, the filing of a suspicious transaction report. However, if the bank files a suspicious transaction report, it may be sued in civil court by the customer for breach of contract. In addition, if the bank parted with the benefits of fraud or theft whilst suspecting that the account holder may not be entitled to payment thereof, it may be sued by the victim of fraud or theft who seeks to recover loss suffered at the hand of the fraudster or thief from the bank. Ultimately, this study illustrates that amendment of some of the provisions of South Africa’s anti-money laundering legislation should enable banks to manage the aforementioned and other unforeseen consequences of money laundering control whilst at the same time contribute to the South African anti-money laundering effort. / Criminal and Procedural Law / Mercantile Law / LL.D.

Money laundering involves activities which are aimed at concealing benefits that were acquired through criminal means for the purpose of making them appear legitimately acquired. Money laundering promotes criminal activities in South Africa because it allows criminals to keep the benefits that they acquired through their criminal activities. It takes place through a variety of schemes which include the use of banks. In this sense money laundering control is based on the premise that banks must be protected from providing criminals with the means to launder the benefits of their criminal activities. The Financial Intelligence Centre Act 38 of 2001 (‘FICA’) in aggregate with the Prevention of Organised Crime Act 121 of 1998 (‘POCA’) form the backbone of South Africa’s anti-money laundering regime. Like its international counterparts FICA imposes onerous duties on banks seeing that they are most often used by criminals as conduits to launder the benefits of crime. In turn, POCA criminalises activities in relation to the benefits of crime and delineates civil proceedings aimed at forfeiting the benefits of crime to the state. This study identifies the idiosyncrasies of the South African anti-money laundering regime and forwards recommendations aimed at improving its structure. To this end nine issues in relation to money laundering control and banks are investigated. The investigation fundamentally reveals that money laundering control holds unforeseen consequences for banks. In particular, a bank that receives the benefits of crimes such as fraud or theft faces prosecution if it fails to heed FICA’s money laundering control duties, for example, the filing of a suspicious transaction report. However, if the bank files a suspicious transaction report, it may be sued in civil court by the customer for breach of contract. In addition, if the bank parted with the benefits of fraud or theft whilst suspecting that the account holder may not be entitled to payment thereof, it may be sued by the victim of fraud or theft who seeks to recover loss suffered at the hand of the fraudster or thief from the bank. Ultimately, this study illustrates that amendment of some of the provisions of South Africa’s anti-money laundering legislation should enable banks to manage the aforementioned and other unforeseen consequences of money laundering control whilst at the same time contribute to the South African anti-money laundering effort. / Criminal and Procedural Law / Mercantile Law / LL.D.