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Transparency International: Disrupting Corrupt Money Flows

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“It is easier to incorporate a company in some states in the US than to get a library card.”

The Fenergo FinTalks podcast is where we connect our listeners to the latest in RegTech, compliance, and anti-money laundering (AML) activity.  

In this episode, we’re talking about all things financial crime and corrupt money flows.

We’re joined by special guest Maíra Martini, Research and Policy Expert on Corrupt Money Flows at Transparency International. Transparency International is a global movement that works in over 100 countries to end the injustice of corruption by promoting transparency, accountability, and integrity.

Maíra describes her work on corrupt money flows and anti-money laundering. How Transparency International makes a real impact in the fight against financial crime by leading global advocacy to bring the issues underpinning this activity to light and delivering research to regulatory watchdogs such as the Financial Action Task Force to make sure the global financial system is taking action to make sure it isn’t enabling corruption across the world.

In this episode of Fenergo FinTalks, Maíra and our host, Dhanum Nursigadoo, talk about how corrupt money flows have an impact on the global economy in real time. They also take a look at the need for cultural and political change in attitudes towards corruption, the power of having public access to the ownership of corporate structures, and much more. 

Together, they explore a multitude of the ways corruption is expressed in the global financial system, including: 

  • Ways to identify the beneficial owner of anonymous companies
  • Why knowing who owns a business is integral to uncovering corruption
  • The seemingly legitimate infrastructure that supports corrupt money flows
  • How knowing the owners of anonymous companies helps identify instances of corruption
  • How the fight against financial crime will be damaged by not having access to UBO registers

Maíra also relays how the cost of fines are usually just seen as the cost of doing business and how we need governments to force changes in behaviour on a practical level. 

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