#QuickbiteCompliance day 222
🚀 Why a “One-Size-Fits-All” Approach Fails in Fighting Financial Crime 🚀
Imagine if a doctor gave the same medicine to every patient—whether they had a cold, a broken bone, or a heart problem. That wouldn’t work, right? The same goes for fighting financial crime!
A Risk-Based Approach (RBA) means assessing the different risks tied to businesses, clients, accounts, and transactions—so we can focus our efforts where they matter most.
### 🔍 How Do Bad Guys Exploit Weak Risk Assessments?
1. Shell Companies – Criminals set up fake businesses (low-risk on paper) to move dirty money unnoticed.
2. “Smurfing” – Breaking large transactions into tiny ones (below reporting limits) to avoid suspicion.
3. High-Risk Industries – Casinos, crypto, and trade finance are often abused because controls aren’t strict enough.
Without RBA, criminals slip through the cracks, while low-risk clients face unnecessary hurdles.
### 💡 The Solution? Smart, Adaptive Controls
– Inclusive Regtech – Tech that works for businesses of all sizes, not just big banks.
– Open Source AML – Transparent tools that evolve with new threats.
By tailoring our defenses, we stop more crime with less hassle.
📖 Learn more about AML terms here: [ACAMS Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms)
#RiskBasedApproach #FinancialCrime #AML #InclusiveRegtech #OpenSourceAML #SmartCompliance #100HariNulis #StopMoneyLaundering
(P.S. Inclusive Regtech & Open Source AML are key features of Mulai Console—making compliance simpler and stronger for everyone!)