#QuickbiteCompliance day 284
How Criminals Exploit Global Systems & How the UN Fights Back
As the world grapples with sophisticated financial crime, the United Nations —founded to uphold peace and collective security—plays a pivotal role in safeguarding global finance. Through initiatives like its Global Programme against Money Laundering (GPML) , the UN empowers nations to combat money laundering and terrorist financing. Yet, criminals relentlessly exploit international frameworks. Here’s how:
⚠️ How Bad Actors Abuse Global Systems
1. Kleptocrats & Public Fund Theft:
Corrupt leaders steal billions meant for public services (e.g., schools, hospitals), hiding wealth via offshore shell companies and luxury assets abroad . Example: A dictator siphons infrastructure funds into foreign real estate, leaving citizens in poverty.
2. Isolation Companies for Sanctions Evasion:
Sanctioned entities use “isolation companies”—front businesses in permissible jurisdictions—to mask ownership and trade illegally. Like a banned student bribing another to buy candy, criminals deploy proxies to procure weapons or launder money.
3. Wildlife & Timber Trafficking:
Criminal networks use complex trade-based laundering, falsifying invoices for illegal wildlife products. The UN found illicit funds from these crimes fuel terrorism and corruption, especially in Southeast Asia and Africa.
4. Exploiting Digital Gaps:
Cryptocurrencies, online gaming assets, and synthetic identities enable micro-laundering and cross-border value transfers. Criminals convert drug profits into in-game currency or use deepfakes to bypass KYC checks .
🛡️ The UN’s Counterattack: GPML in Action
– Capacity Building : Trained 4,000+ law enforcement and judicial experts globally in 2015 alone, with mentor programs in 66+ countries (e.g., Vietnam, Senegal) to strengthen AML laws and asset recovery .
– Disrupting Illicit Flows : Frozen $363k in illegal timber proceeds (Mozambique) and dismantled ransomware payment networks using goAML software deployed in 26+ countries.
🌍 The Call to Action
Financial crime is borderless—but so is our defense. The UN’s GPML proves that global collaboration , tech adaptation (like open-source AML AI), and beneficial ownership transparency are non-negotiables. As professionals, we must:
✅ Advocate for real-time cross-border data sharing.
✅ Support #OpenSourceAML solutions to democratize compliance.
✅ Invest in AI that predicts threats—not just reacts.
Source : [ACAMS AML Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms)
#InclusiveRegtech #OpenSourceAML #100HariNulis #FinancialCrime #AML #Compliance #AntiCorruption #UN #GPML #RegTech
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💬 Your thoughts? How is your organization partnering globally to outpace financial crime? Share below! 👇