#QuickbiteCompliance day 213
What’s a Corporate Register? And Why Should We Care in the Fight Against Financial Crime?
Imagine you’re looking at a class list at school. It tells you the names of the students, who the teacher is, and when the class started. Simple, right?
Now imagine the same thing for a company. That’s what we call a Corporate Register—a list that tells us when a company was formed, who owns it, and who runs it. It’s like the “who’s who” of a business.
These registers are often available on government websites or places like chambers of commerce. In the U.S., for example, each state’s Secretary of State has a website where you can search for this info.
So what’s the big deal? 🌍
Well, here’s the thing. Bad guys love fake or hidden company details. And they use that secrecy to move dirty money, hide illegal profits, and trick banks and law enforcement.
🚨 Example 1: A criminal creates a fake company and puts a fake name as the owner. Then they use that company to open a bank account and move illegal money. Because the real owner is hidden, it’s harder to catch them.
🚨 Example 2: Someone sets up many small companies in different countries. Each one looks normal on paper, but together they’re used to move money in circles to hide its true origin. It’s like a money-laundering washing machine.
That’s why we need transparent and accessible corporate registers—and why building tools that make this data easier to use and verify is so important. At Mulai, we’re building Inclusive Regtech and Open Source AML tools to help fintechs and banks of all sizes spot the red flags early—without breaking the bank. 🛡️
If we want to stop dirty money, we have to start by knowing who’s behind the curtain. Let’s build systems where no one can hide in plain sight.
📚 Source: [ACAMS AML Glossary of Terms](https://lnkd.in/gGmG8VZ5)
hashtag#InclusiveRegtech hashtag#OpenSourceAML hashtag#100HariNulis hashtag#AML hashtag#CorporateTransparency hashtag#Fincrime hashtag#Regtech hashtag#AntiMoneyLaundering hashtag#Mulai hashtag#KnowYourBusiness hashtag#KYB hashtag#BeneficialOwnership hashtag#TechForGood
