#QuickBiteCompliance Day 134
Greylisted! Why Some Countries Are on the Watchlist for Financial Crime
Imagine you’re playing a game, and some players have been caught bending the rules—not bad enough to be kicked out, but enough to be watched closely. In the financial world, that’s what happens when a country gets greylisted. It means the country has weaknesses in stopping financial crime but hasn’t done enough to fix them yet.
But what if criminals see this as an opportunity?
Some bad actors exploit greylisted countries to move dirty money. Here’s how:
🔍 Weak Controls – They take advantage of loose anti-money laundering laws to stash illegal money where it’s harder to track.
💰 Shell Companies – Criminals set up fake businesses in these countries to hide the true owners of illicit funds.
📑 Sanctions Evasion – Greylisted countries may not enforce international rules strictly, allowing sanctioned individuals or groups to move money more freely.
Being on the greylist means a country needs to step up its game.
✅ Stronger financial regulations
✅ Better monitoring of suspicious transactions
✅ Commitment to international anti-money laundering efforts
Technology is playing a key role in identifying risks. Inclusive Regtech and Open Source AML solutions, like those in Mulai Console, help financial institutions detect and prevent financial crime in greylisted jurisdictions.
Let’s push for stronger safeguards to keep illicit money out of the system!
🔗 Learn more: https://www.acams.org/en/resources/aml-glossary-of-terms
#InclusiveRegtech #OpenSourceAML #100HariNulis #FinancialCrime #Greylist #AML #Compliance
