Transforming corrupt cash flows: A look into the world of RegTech with Transparency International

Fenergo FinTalks podcast has released its latest episode where it aims to offer the newest insights into the world of RegTech, compliance, and anti-money laundering (AML).

This episode is all about financial crime and the trail of corrupt money flows. We are privileged to host Maíra Martini, a renowned research and policy expert on corrupt money flows at Transparency International. As a global movement, Transparency International operates in over 100 countries, striving to put an end to the plague of corruption. It does this by endorsing transparency, promoting accountability, and insisting on integrity.

Martini sheds light on her role in the fight against corrupt money flows and the importance of anti-money laundering procedures. Transparency International plays a crucial role in combating financial crime through leading international advocacy, revealing the underlying issues of this activity, and delivering research to regulatory watchdogs like the Financial Action Task Force. The aim is to ensure that the global financial system actively resists corruption and avoids abetting such activities worldwide.

In this engaging conversation, Martini and our host, Dhanum Nursigadoo, dissect the real-time effects of corrupt money flows on the global economy. They also delve into the urgency for a cultural and political shift in corruption attitudes, the significance of public access to corporate ownership information, and much more.

The duo navigate the labyrinth of the ways the global financial system manifests corruption. This includes:

  • Unravelling methods to identify the actual owner of anonymous firms
  • Emphasising the necessity of business ownership knowledge in exposing corruption
  • Examining the seemingly legal infrastructure that abets corrupt money flows
  • Demonstrating how ownership knowledge of anonymous firms can help pinpoint corruption instances
  • Highlighting the potential risk to the fight against financial crime posed by a lack of access to Ultimate Beneficial Owner (UBO) registers

Martini further emphasises how the fines imposed for corruption are often merely viewed as the cost of doing business. She highlights the need for government enforcement to prompt behavioural changes at a pragmatic level.

Don’t miss out on these intriguing discussions. Subscribe to the Fenergo FinTalks podcast on Spotify or your preferred podcast platform.

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