#QuickbiteCompliance day 232
🚨 How “Sanctions Regimes” Stop Bad Guys (And How They Try to Cheat) 🚨
Did you know countries have special rules called “sanctions regimes” to stop criminals, terrorists, and dangerous governments from using money for harm? These rules freeze bad guys’ funds, ban trade with them, and cut off their access to banks.
But guess what? Bad guys still try to sneak around these rules! Here’s how:
🔹 Fake Companies – Criminals create fake businesses in other countries to hide who really owns the money.
🔹 Secret Shell Games – They move money through many banks and countries to make it hard to track.
🔹 Lying to Banks – They use fake names or pretend to be someone else to open accounts.
For example, North Korea has been banned from global trade, but they still sneak money by using foreign banks and fake trade deals. 😱
The good news? Banks and governments use smart tools like #InclusiveRegtech and #OpenSourceAML to catch these tricks faster!
Want to learn more? Check out the full AML glossary here: [ACAMS Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms)
#SanctionsCompliance #StopFinancialCrime #TransparencyMatters #100HariNulis
(P.S. Fighting financial crime takes teamwork—let’s make the system fairer and safer for everyone! 💪)