Profiling under conditions of ambiguity—An application in the financial services industry

Canhoto, Ana Isabel; Backhouse, James

doi:10.1016/j.jretconser.2007.02.006

Cited by 20 publications

(10 citation statements)

References 45 publications

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“…Hence, when private actors make themselves auditable along certain very visible trails, they simultaneously set the limits for what the riskbased approach, and monitoring agencies, can demand in terms of corporate accountability (c.f. the discussion of levels of investment and deniability in Canhoto and Backhouse 2007). In this way, rather than being accountable for all AML-risks, the private actors become accountable for certain particular identified aspects of some of these risks.…”

Section: Discussionmentioning

confidence: 99%

Public-Private Partners Against Crime: Governance, Surveillance and the Limits of Corporate Accountability

Helgesson

2011

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Recent risk-based regulation on anti-money laundering emphasises the need for private business actors to be more actively engaged in preventative efforts. This proposed public-private partnership against crime raises important questions of how to balance values and interests as it situates business actors in an intricate position at the centre of conflicting claims and attributions. Based on an interview study of the banking industry in Sweden, this article analyses how surveillance for the state in relation to anti-money laundering is implemented into the business-as-usual of business actors. The findings support the initial assumption that the role of agent of the state is in conflict with the role of being an agent for private principals. However, a complementary tentative conclusion is that the demands of one principal could also be beneficial for promoting the interests of the other principal. Finally, it is suggested that making oneself more accountable may, in fact, be a means to limit corporate accountability.

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Section: Discussionmentioning

confidence: 99%

Public-Private Partners Against Crime: Governance, Surveillance and the Limits of Corporate Accountability

Helgesson

2011

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“…In the medium sized firms, we have asked to talk to persons involved in managing AML/CTF, including partners and associate lawyers. A reason for this design was that previous studies of banks indicate that engaging in the proposed partnership against crime is costly [10,18]. We therefore expected large, and resourceful law firms to put more time and effort into their AML/ CTF work, for instance by utilizing compliance databases 5 .…”

Section: Methodsmentioning

confidence: 99%

“…At the same time, an investment in existing or new systems and databases does not ensure proactive crime prevention among the private actors. Rather, previous research indicates that the aim tends to be that of 'defendable compliance' [16] as reported by Favarel-Garrigues et al [17,19], and Canhoto and Backhouse [18]. This leads us back to the issue of the extent to which private actors really are willing to take on an extended responsibility for crime prevention.…”

Section: Delineating the Risk-based Approachmentioning

confidence: 96%

“…Taking such dis-incentives into consideration, 'defendable compliance' [16], rather than proactive policing, seems a likely outcome. Research on banks indicate that such compliance is indeed present in the context of AML/CTF [17][18][19]. It thus appears that: '… there will continue to be a less than virtuous shifting of responsibility between the regulator and the regulated, with the latter merely doing sufficient to proverbially "cover their backs".'…”

Section: Introductionmentioning

confidence: 99%

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Client privilege, compliance and the rule of law: Swedish lawyers and money laundering prevention

Helgesson

Mörth

2018

Crime Law Soc Change

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“…The reason is that there is an assumed cause and effect link between certain observed characteristics of the potential borrowers and their willingness and ability to repay the loan (Banerjee, 2005). However, certain causes of poor credit worthiness, such as intention to defraud the lender, may be difficult or impossible to observe from the type of data available (Canhoto & Backhouse, 2007).…”

Section: S I M I L a R I T Y I M P A C T S O Nmentioning

confidence: 99%

Unpacking the interplay between organisational factors and the economic environment in the creation of consumer vulnerability

Canhoto

Dibb

2015

Journal of Marketing Management

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Ana Isabel Canhoto is Senior Lecturer in Marketing at Oxford Brookes Universityand Programme Lead of the MSc Marketing. She researches, writes and advises organisations on how to identify and manage difficult customers, and terminate bad commercial relationships. She is also interested in the use of social media to build customer profiles. Prior to joining academia, she worked as a management consultant in the telecommunications industry and as a portfolio manager at a leading media and entertainment company, among others. Sally provides strategic marketing advice for a range of organisations. Sally Dibb is AbstractAccess to credit is a key enabler of modern life. Yet many consumers face factors beyond their control which sometimes render them unable to borrow from mainstream lenders. This paper documents how firm-related factors determine lending thresholds and shape who is, or is not, a credit-worthy customer. The impact of the 2008 economic recession on lending decisions is explored, an aspect that has been insufficiently discussed even though recessions are cyclical events. Drawing on semiotics and using multiple case studies, the study captures not only which groups were excluded, but also the reasons why. Empirical support is offered for the notion of vulnerability as a fluid state and the role of the timing of decisions as a source of vulnerability is described. Summary statement of contribution:The paper addresses calls for research on consumer vulnerability in different contexts. It complements and extends existing research in its focus on the supply side drivers of financial vulnerability. The findings, which show that the policies and practices of lenders are putting consumers at risk, are highly relevant given current trends for consumers to be given greater responsibility for their financial wellbeing.

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Profiling under conditions of ambiguity—An application in the financial services industry

Cited by 20 publications

References 45 publications

Public-Private Partners Against Crime: Governance, Surveillance and the Limits of Corporate Accountability

Public-Private Partners Against Crime: Governance, Surveillance and the Limits of Corporate Accountability

Client privilege, compliance and the rule of law: Swedish lawyers and money laundering prevention

Unpacking the interplay between organisational factors and the economic environment in the creation of consumer vulnerability

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