#QuickBiteCompliance Day 130
Gatekeepers: When the Wrong Hands Hold the Keys
Imagine a giant vault filled with money. Normally, you’d need a key to get in. But what if someone with a key—like a lawyer, accountant, or financial advisor—helped the bad guys sneak money in and out? That’s exactly how criminals use gatekeepers to launder dirty money.
Gatekeepers are professionals who help move money—legally. They set up companies, handle big transactions, and advise clients on finances. Most of them follow the rules. But some? They turn a blind eye or, worse, help criminals hide their tracks.
How do bad guys misuse gatekeepers?
🔹 Hiding behind fake companies – A shady businessman asks a lawyer to set up a company in another country. On paper, it looks real. In reality, it’s a front to move illegal money.
🔹 Buying luxury assets – An accountant helps a client move millions into a bank account, claiming it’s for “real estate investments”—but it’s actually dirty money used to buy mansions and yachts.
🔹 Mixing dirty money with clean money – A notary helps register a business that looks legitimate but is really funded by drug money or fraud.
That’s why some countries make gatekeepers follow strict Know Your Customer (KYC) and due diligence rules—just like banks. The goal? Make sure they aren’t accidentally—or intentionally—helping criminals.
🔍 Technology can help! #InclusiveRegtech and #OpenSourceAML can detect suspicious activities faster and make compliance easier for honest professionals.
At the end of the day, gatekeepers hold the keys. It’s up to them to lock criminals out—not let them in.
📖 Learn more about AML terms: https://www.acams.org/en/resources/aml-glossary-of-terms
#AML #FinancialCrime #AntiMoneyLaundering #FraudPrevention #RegTech #KYC #100HariNulis
