In partnership with ACAMS, RUSI’s Centre for Financial Crime and Security Studies has announced the launch of a new global survey on digital ID and its utility in the fight against financial crime.

It is estimated that by 2022 60% of the world’s GDP will be digitised, creating both significant challenges for stakeholders and opportunities for criminals.

For financial institutions, there is an increased risk of online fraud from criminals masquerading as legitimate clients. And for clients and customers, access will increasingly require remote and secure verification. One solution to this challenge is digital ID.

In March 2020, the Financial Action Task Force (FATF), the international standards-setter for anti-money laundering and countering the financing of terrorism controls, published its first guidance document on the use of digital ID in the fight against financial crime – a crucial step in protecting the future integrity of the online world.

Last year also saw increased interest in digital ID as governments and financial institutions around the world sought to overcome the financial crime compliance challenges created by the coronavirus pandemic. As the world continues to tackle the pandemic, this survey seeks to take stock of how the financial crime community views digital ID, the potential it holds in the fight against financial crime, and how opinions differ on this topic around the world.

The survey closes on Friday 5th March, and its results will be used to inform a pivotal report which will be made publicly available on the RUSI website and will be launched at the ACAMS Hollywood conference in April 2021. The survey will take no more than 15 minutes to complete. All responses are anonymous and will only be reported in an aggregated format.

This is the third survey in a series that RUSI has run with ACAMS, measuring perceptions on critical issues in financial crime compliance. The first survey on perceptions relating to proliferation financing risk can be found here and the second survey on the risks and opportunities posed by cryptocurrencies can be found here.

RUSI and ACAMS have partnered with YouGov to conduct this survey. YouGov is the most quoted market research source in the UK and works with some of the world’s most recognised brands. The survey is being conducted using the Market Research Society’s Code of Conduct.

For questions on the survey please contact Isabella Chase, Research Fellow, RUSI’s Centre for Financial Crime and Security Studies, [email protected]

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