Publicação
Blockchain for Know Your Customer Process in Anti-money Laundering for Banks: Consent-Driven, Integrity-Centered, Multi-Organisation KYC for AML
| datacite.subject.fos | Ciências Naturais::Ciências da Computação e da Informação | |
| datacite.subject.sdg | 04:Educação de Qualidade | |
| datacite.subject.sdg | 08:Trabalho Digno e Crescimento Económico | |
| datacite.subject.sdg | 09:Indústria, Inovação e Infraestruturas | |
| dc.contributor.advisor | Ashofteh, Afshin | |
| dc.contributor.advisor | Scott, Ian James | |
| dc.contributor.author | Pereira, Jose Lino Semedo | |
| dc.date.accessioned | 2026-02-10T14:44:39Z | |
| dc.date.available | 2026-02-10T14:44:39Z | |
| dc.date.issued | 2026-02-03 | |
| dc.description | Dissertation presented as the partial requirement for obtaining a Master's degree in Information Management, specialization in Digital Transformation | |
| dc.description.abstract | Money laundering remains a persistent threat, placing pressure on financial institutions to strengthen Anti-Money Laundering (AML) controls. The Know Your Customer (KYC) process is at the core of these frameworks, but sometimes, traditional KYC methods expose inefficiencies that impede compliance efforts. This thesis examines how blockchain, specifically smart contracts, can enable consent-gated reuse of verified KYC data while preserving privacy and auditability. Using the Design Science Research Methodology (DSRM), requirements were gathered with experts, and artifacts were built to ensure sensitive customer data is stored securely off-chain. The ledger only records non-Personal Identifiable Information (PII) metadata and cryptographic references, accessible solely to authorised parties via cryptographic methods. Cross-institution endorsement policies control data writes, providing a tamper-evident, auditable history without exposing customer information on-chain. Utilizing a Hyperledger Fabric based consortium blockchain, the solution achieves seconds-level, consent-gated reuse of verified KYC data with zero manual touch between the creation request and the status verification response process, complete consent enforcement, ledger-anchored integrity, and decentralised governance. The research demonstrates how operational efficiencies are achieved through reduced redundancies and accelerated onboarding procedures, with consent reuse of verified KYC data. Findings show that blockchain-based smart contracts not only reinforce compliance with AML regulations but also foster trust among participants by providing a transparent audit trail. Finally, this thesis supports the strategic adoption of blockchain technology in KYC processes, suggesting that it can significantly enhance operational efficiency while preserving rigorous compliance with AML standards, thus contributing to a more secure financial ecosystem. | eng |
| dc.identifier.tid | 204223326 | |
| dc.identifier.uri | http://hdl.handle.net/10362/200203 | |
| dc.language.iso | eng | |
| dc.rights.uri | http://creativecommons.org/licenses/by/4.0/ | |
| dc.subject | Blockchain | |
| dc.subject | Smart Contracts | |
| dc.subject | AML | |
| dc.subject | Know Your Customer | |
| dc.subject | Banking | |
| dc.subject | Transparency | |
| dc.subject | Security | |
| dc.subject | Operational Efficiency | |
| dc.subject | Regulatory Compliance | |
| dc.title | Blockchain for Know Your Customer Process in Anti-money Laundering for Banks: Consent-Driven, Integrity-Centered, Multi-Organisation KYC for AML | eng |
| dc.type | master thesis | |
| dspace.entity.type | Publication | |
| thesis.degree.name | Mestrado em Gestão de Informação, especialização em Transformação Digital |