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The purpose of this paper is to present a risk‐based approach to anti‐money laundering (AML) systems.

The paper covers the areas of: customer due diligence, customer acceptance, risk management and implementation.

Regulators and financial institutions need to co‐operate so that AML standards can be set within a risk‐based approach, thus enabling a country to protect itself in the best possible and affordable way.

The paper outlines the controversy present between financial institutions and regulators in the approach to AML.

In online shopping, there is often a risk due to the inability to check the products. As a result, it can reduce the impact of factors affecting the intention to buy online, which is a significant point in e-commerce. The purpose of this research is to investigate the impact of the evidence and the perceived usefulness of a store site on the existing risk and online participation of customers for online shopping.

The statistical population of this research is people who have had the experience of online shopping at the Digikala store. The research method was descriptive-survey and the samples were randomly selected. A questionnaire was also used to collect information. Structural and statistical analysis of the model was done by SmartPLS3 software.

In this research, the authors found that the perceived usefulness (benefits of the site) has a favorable effect on the online participation of customers. It can also reduce the risk of online shopping. This research suggests good ways to increase sales to those who have a store site. The present research provides useful findings for those who sell their products online.

This research specifically examines the interaction of customers with sellers and can be a help for progress in e-commerce. In this study, perceived risk and participation as mediating variables, information and perceived usefulness on the site as independent variables and online shopping intention a dependent variables. This research was done about Digikala's online store. The results were obtained with the participation of customers in completing the questionnaire. Then the theoretical model and the background of the research are examined and then the hypotheses are evaluated according to the statistical results and finally, the research results and limitations are stated.

This paper aims to revisit the role of perceived risk in online banking, using an alternative view on trust as a moderator on the relationship between perceived risk and behavioral intention (BI). With this aim, the conceptual model was proposed to examine the impact of perceived risk on BI directly and indirectly via unified theory of acceptance and use of technology 2 along with its interactionist relationship with trust.

Structural equation modeling technique is used to analyze data collected from 677 bank customers via personal contact using a self-administered questionnaire.

The results indicate that perceived risk as a multi-dimensional construct has a direct and indirect impact on BI via performance expectancy, social influence, hedonic motivation and price value. Moreover, it was found that trust moderates the relationship between perceived risk and BI.

This study suggests that banks should create a trust-building mechanism in the online banking environment and develop certain risk management strategies such as providing detailed and thorough information, money-back guarantee and reassurance services to enhance confidence among the customers to use such services. The banks should also devote valuable efforts in designing website interface with improved security features to facilitate usability and reliability of online banking services.

The present study makes an important contribution to the existing literature on e-commerce, especially in the field of online banking, by proposing an interactionist model between perceived risk and trust. The proposed model has never been examined in the relevant literature and could be used to provide a solid theoretical foundation in the context of online banking adoption.

The purpose of this paper is to examine the impact of role ambiguity, norms of reciprocity and ethical policy on the insurance agents’ attitude and intention toward selling insurance to high-risk customers.

This study employed partial least squares regression analyses to test the hypothesized relationships in the conceptual model. To ensure that the questionnaires captured the concept as intended, customer risk status and the level of insurance premium were mentioned literally in the scenario.

The findings indicated that the insurance agents’ attitude toward high-risk customers has a significant association with the insurance agents’ behavioral intention. Norms of reciprocity and ethical policy have a significant relationship with the attitude and intention.

High-risk customers may want to buy more insurance. In this case, an adverse selection problem could occur when the insurers lack customer information prior to the insurance transaction. The insurance agents are important marketing channels in the insurance industry. They seek out new customers, gather customer information, and are expected to act in the best interest of the customers. Yet, the insurance agents’ attitude toward high-risk customers is seldom mentioned in the studies on insurance marketing and regulation. This research may make some contributions to the relevant literature because there are few studies in this field.

The calculations which underlie efforts to balance marketing spending on customer acquisition and customer retention are usually based on either single‐period customer profitability or forecasts of customer lifetime value (CLTV). This paper argues instead for risk‐adjusted CLTV, which is termed the economic value (EV) of a customer, as the means for marketing to assess both customer profitability and shareholder value gains.

Reports on the empirical measurement of EV of customers through a collaborative case study analysis of business‐to‐business relationships in the financial service industry.

One direct consequence of measuring this risk and the EV of key account customers was a customer portfolio review which led to changes in their relationship marketing strategies and improvements in shareholder value for the firm.

Selective customer retention through lifetime value analysis and a risk‐adjustment process may be the means for developing relationship marketing strategies.

This paper contributes to the field by extending the discussion on customer risk and demonstrating a method that managers can readily adopt to evaluate the risk of their customers.

This study aims to examine the direct and indirect effects of professional commitment, customer risk and independence pressure on money laundering risk judgment among bank analysts.

This study uses a within-subjects experimental research design and collects primary data via a questionnaire distributed to bank analysts in banking institutions in Malaysia.

Results show that professional commitment, customer risk and independence pressure significantly influence money laundering risk judgment (i.e. customer due diligence and money laundering reporting). The results also show significant interaction effects between customer risk and independence pressure in influencing money laundering risk judgment.

Professional commitment and situational factors are crucial in putting pressure on bank analysts responsible for performing a thorough check and due diligence to minimize money laundering risk to the bank.

As money laundering is lifeblood of crimes, understanding the factors influencing money laundering risk judgment would assist the affected institutions to manage the risk better and contribute towards the fight against crimes.

This study focuses on money laundering risk judgment. It contributes to understanding the competency of the gatekeepers, such as bank analysts, in practicing professional commitment and dealing with situational factors.

The purpose of this paper is to examine the signaling effects of high versus low price discounts by integrating extant literature on price discounts, perceived risks and purchase intentions for products sold online. The study examines the influence of price discounts on perceived risks, and the subsequent influence of these risk perceptions on online purchase intentions.

This study used an experimental design. The manipulated factor was price discount (10, 30, 50, 70 and 90 per cent). Responses were collected via online surveys. Nonlinear regression analysis with the MEDCURVE macro was used for the analysis.

The results show that the discount size increases customers’ perceived risks, and that these perceived risks mediate the relationship between price discount and purchase intentions.

This study provides a better understanding of customers’ risk perceptions for online price discounts, which enables retailers to decide appropriate price discounts to attract customers.

Most previous literature focusing on price discounts takes into consideration the presentation effect on consumers’ positive perceptions, while this study investigates the price discount effect on customers’ negative perceptions. In particular, this study examines the mediating effect of perceived risks on the relationship between price discount and purchase intention, which has not been investigated in previous studies.

Given the strategic importance of firm reputation because of its potential for value creation, extant reputation research focuses on favorable customer outcomes. This study proposes and tests a model that relates the customer-based corporate reputation (CBR) of fashion retailers to customer-perceived risk and two relational outcomes – trust and commitment. In addition, this study aims to test whether or not the hypothesized paths are equally strong for male and female shoppers.

Data for this study were collected through an online survey approach. Using a sample of more than 300 retail customers and structural equation modeling, the authors tested the hypotheses.

Drawing on previous research, the commitment–trust theory of relationship marketing and signaling theory, the authors find support for direct and indirect links between retailers’ reputation and relational outcomes, the intervening role of perceived risk and the partially moderational role of gender.

The findings of this research suggest that a retailer’s positive reputation can reduce customers’ risk and engender trust, which in turn promotes customer commitment.

A growing number of examples suggests that retailers (specially fashion retailers) need to manage their reputation, which can come under threat in myriad ways, and its outcomes. However, so far, no individual study empirically investigated any of these reputation outcomes simultaneously or considered gender differences. Thus, the authors address an important research gap by examining the mechanism through which CBR affects relevant customer outcomes and by considering contextual factors.

The purpose of this study is to examine the South African banks’ customer due diligence (CDD) practices in the fintech era to mitigate money laundering (ML) risks and ensure financial stability. Financial technologies have brought substantial transformations to the financial services sector. However, such technologies have exposed the sector to emerging risks that threaten the integrity and stability of the financial system globally. Before any bank–customer relationship is established, proper customer background checks must be conducted. These background checks enable financial institutions to validate information provided and ensure customers are properly risk profiled. Failure to risk profile customers could result in financial institutions being used as conduits for ML. Undoubtedly, CDD procedures are pivotal to overall anti-money laundering efforts and curbing financing terrorism in a regulatory framework.

A qualitative research approach was adopted to address the research questions of the study. Given the confidentiality associated with the financial services sector, data triangulation was used in blending mainly secondary and primary data sources. Secondary data sources used in the study were published reports available in the public domain that were corroborated with subject matter experts’ interviews.

Based on the findings of this study, it is concluded that in South Africa, technological solutions have been incorporated into CDD functions, which is now risk-based (enhanced due diligence). Also, legally, South Africa has incorporated the biometrics, integration with Department of Home Affairs and Companies and Intellectual Property Commission databases, customer consent to third-party sources with the Financial Intelligence Centre Act and the Protection of Personal Information Act.

The shift towards digital banking in South Africa results in increased data and dynamic risk profiling. This study advocates a policy shift requiring a risk-based approach to mitigating emerging ML risks (in particular digital laundering), especially in the wake of South Africa’s recent greylisting by the Financial Action Task Force.

Powered by artificial intelligence, voice assistants (VAs), such as Alexa, Siri and Cortona, are at early-stage adoption rates in service contexts. Customers express hesitance in using the technology. Furthermore, the effect of a relevant variable (VA empathy) as a determinant of VAs is not widely researched. This study aims to extend the unified theory of acceptance and use of technology (UTAUT) and social response theory (SRT) to propose and test a conceptual model of the role of customer perceptions of VA empathy and risk on VA adoption and usage intensity.

In this study, data were collected from 387 VA users in the USA using a survey administered through Amazon MTurk. Data cleaning retained a final n = 318 for structural equation modeling analysis.

Findings show that perceived VA empathy enhances customers’ attitude toward VA and drives adoption, thereby increasing VA usage intensity. Perceived risk is a moderator; users with high perceptions of VA empathy have greater VA adoption rates when they have high (vs low) risk perceptions of using VA.

This research is one of the first known studies to provide empirical evidence of the role of customer perceptions of VA empathy and risk on VA adoption in service delivery. It goes beyond VA adoption research to provide empirical evidence of the impact of VA adoption on actual usage intensity. By extending the UTAUT and SRT, this research adds to the theoretical foundation for research on VA adoption, offering practical insights for firms regarding empathetic VA design to enhance customer service delivery.