Background and problem: In March 15, 2009, the third piece of money laundering directive was introduced which mean a more strict legislation in control against money laundering and terrorist financing. The directive is based on a risk based point of view which means that the resources should be used where the needs are. The responsibility for financial companies and other parts are bigger then before which means that they have to get a more extensive customer knowledge etc. It has however been appeared that the directive in some cases lack of precision and clarity which creates an insecurity among those who are included by the law. Purpose: The purpose of this paper is to examine which consequences the third piece of money laundering will bring on the banks customer relationships and how the employees work assignments at the banks will be affected. The authors also want to examine how the extension of money laundering will be affected and clarify if there is any indistinctness about how the application looks around the banks. Method: The authors choose to use a qualitative method and the empiric material has been collected through personal meetings, telephone interviews and through e-mail answers. Conclusion: The majority sees the third piece of money laundering directive as something positive which will protect both the banks and their customers. Although it has been showed that the banks think that some parts of the directive is both unclear and meaningless since they don’t get the tools which are required to complete the work. The customers of the banks will be exposed for more and personal questions then before which has led to that the customers in some cases feel insulted. Since also the employees of the banks will be affected of the new routines and have to deal with irritated customers, it is important that they will experience good internal education. The authors have discovered some lack in these educations since the employees aren’t aware of that they personally can be judged to fines if they don’t live up to the legislation. Future studies: A proposal for future studies is to after a time examine if the directive has got the effect that the legislation aims to, videlicet examine if the extent of money laundering has been reduced. Keyword: Risk based point of view, the third piece of money laundering directive, agency theory, and politically exposed persons
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:mdh-6208 |
| Date | January 2009 |
| Creators | Ton, Emma, Ståhl, Malin |
| Publisher | Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling, Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling |
| Source Sets | DiVA Archive at Upsalla University |
| Language | Swedish |
| Detected Language | English |
| Type | Student thesis, info:eu-repo/semantics/bachelorThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
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