#QuickBiteCompliance Day 132
Who’s Really in Charge? The Power of Governance in Stopping Financial Crime
Imagine a school where the principal and teachers don’t talk to each other. There are no rules, no one checking homework, and students can do whatever they want. Sounds chaotic, right? That’s what happens in companies with weak governance—a system that ensures decisions are made properly, rules are followed, and no one has too much unchecked power.
But what if the bad guys take advantage of this chaos?
Some criminals manipulate weak governance to commit financial crimes like money laundering and fraud. Here’s how:
🔍 Fake Decision-Makers – They create fake board members or executives to approve shady transactions. No real oversight means no real accountability.
💰 Bribing the Gatekeepers – They pay off executives or compliance officers to ignore red flags. If the watchdogs are asleep, criminals can move dirty money without getting caught.
📑 Confusing Paper Trails – They create complex company structures where no one knows who’s really in charge, making it hard for law enforcement to track illicit activities.
Good governance is like a school with strong leadership—everyone knows their role, rules are enforced, and bad behavior is caught early.
✅ Clear roles and responsibilities
✅ Independent checks and balances
✅ Transparency in decision-making
Technology is helping improve governance and fight financial crime. Inclusive Regtech and Open Source AML solutions, like those in Mulai Console, ensure that governance isn’t just a checkbox but a real shield against financial criminals.
Let’s build stronger governance to keep bad actors out!
🔗 Learn more: https://www.acams.org/en/resources/aml-glossary-of-terms
#InclusiveRegtech #OpenSourceAML #100HariNulis #FinancialCrime #GovernanceMatters #AML #Compliance
Here’s your LinkedIn post on governance and financial crime. Let me know if you’d like any refinements!
