Regulators and Financial Crime Compliance Framework in Australia

Running head: WEEK 13 DISCUSSION
1
Week 13 Discussion
Name
Institution

REGULATORS 2
Question one
Australia’s financial crime compliance framework has been subject to comprehensive
analysis by the key regulators; however, the underlying criminal activity which the framework is
designed to prevent is not as well understood. Do you agree with the statement? Provide reason
for your answer.
I agree with the statement due to the following reasons;
 Difficulties in directing the corrupt conduct.
This was experienced in a way that the organized crime groups in Australia use social media to
employ individuals to participate in illegal drugs trade and through this they will be able to
identify the employees of the public sector and therefore be able to know the relationships that
make corruption possible (Fisman and Golden, 2017).
 Lack of awareness around the issue.
The lack of awareness of the groups that post the threats of criminal activities normally go
undetected thus giving them more opportunity to carry out their illegal conducts. The reason as
to why they go undetected is due to lack of detection and prevention measures put in place
crosswise the public sector.
 Increasingly sophisticated behavior by the organized crime groups.
The organized crime groups have created areas that the employees and criminals normally
communicate their deals. This result in creating the opportunities that assists them in emerging
subsidiary relations (Mallory, 2011). In addition, they create chances for the organized criminal