Abstract
This paper examines the organizational tensions arising from mandatory data exchange initiatives between private and public organizations. The focus is the UK financial services sector, which is required to monitor and report on customer identities and transactions under the country's Anti-Money Laundering/Counter-Terrorist Finance (AML/CTF) regulations. The transferred data are generated from existing organizational activities, systems, processes and working patterns; we examine how government demands for such data affect commercial priorities, customer relationships and working patterns in the sector. We adopt an exploratory approach to investigate this phenomenon, consisting of 16 in-depth interviews, analysis of documents and two case studies. Three contributions are made. First, we use remediation theory to show that existing organizational arrangements are reconfigured at multiple analytical levels, creating tensions between the organizations’ commercial and compliance roles. Second, we establish the information flow as an appropriate unit of analysis in the study of data exchange mechanisms and reveal the flows that characterise AML/CTF compliance for financial services organizations. Finally, we adopt a ‘set theoretic’ perspective on multi-level organizational research, to argue that the multi-level effects of this regulation can be examined in parallel.
| Original language | English |
|---|---|
| Article number | 119996 |
| Journal | Technological Forecasting and Social Change |
| Volume | 155 |
| Early online date | 16 Mar 2020 |
| DOIs | |
| Publication status | Published - 1 Jun 2020 |
Bibliographical note
NOTICE: this is the author’s version of a work that was accepted for publication in Technological Forecasting and Social Change. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Technological Forecasting and Social Change, 155, (2020) DOI: 10.1016/j.techfore.2020.119996© 2020, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/
Copyright © and Moral Rights are retained by the author(s) and/ or other copyright owners. A copy can be downloaded for personal non-commercial research or study, without prior permission or charge. This item cannot be reproduced or quoted extensively from without first obtaining permission in writing from the copyright holder(s). The content must not be changed in any way or sold commercially in any format or medium without the formal permission of the copyright holders.
Funder
Funding
The research featured in this paper was funded by a Leverhulme Trust Project Grant, no. F/00269/X . Kirstie Ball is Professor in Management at the University of St Andrews where she is director and founder of CRISP, the center for Research into Information, Surveillance and Privacy. She is Research Fellow at the Surveillance Studies centre, Queen's University, Canada and Visiting Professor at the centre for Business in Society at Coventry University. Her research focuses on surveillance in and around organizations and her work has been funded by ESRC , EPSRC , SSHRC (Canada), The Leverhulme Trust and the European Framework Programme. She co-edits the Routledge Studies in Surveillance book series and co-founded the journal Surveillance and Society. Sally Dibb is Professor of Marketing and Society at Coventry University. She has visiting posts at The Open University, Warwick Business School and University of St Andrews. Her research focuses on the role of data in addressing societal challenges and supporting strategic decision making. Sally has received funding from the ESRC, InnovateUK, European FP7 and EU KIC programmes, The Leverhulme Trust, Academic of Marketing, amongst others. She has served twice as a panel member for the UK Research Excellence Framework and as international panel member for the Norwegian Research Council.
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 16 Peace, Justice and Strong Institutions
Keywords
- Anti-money laundering
- Counter-terrorist finance
- Data exchange mechanisms
- Financial services
- information flows
- Multi-level analysis
- Remediation
ASJC Scopus subject areas
- Business and International Management
- Applied Psychology
- Management of Technology and Innovation
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