#QuickBiteCompliance Day 81
🌍 Beware of the Denied Persons List (DPL): Protecting Our Global Economy 🚫
Imagine you have a list of people you shouldn’t share your toys with because they broke important rules. That’s what the Denied Persons List (DPL) is like for businesses! This list, made by the U.S. government (BIS), includes individuals and companies that are not allowed to trade goods or technology because they’ve violated important laws like the Export Administration Act.
But here’s the tricky part: some bad guys try to sneak around the rules! 🚨 Here’s how they do it:
1️⃣ Hiding Behind Other Companies: They use fake businesses or friends’ companies to buy goods for them. For example, someone on the DPL might use a middleman to get restricted technology.
2️⃣ Faking Documents: They change shipping or business paperwork to hide their identity, pretending they’re not on the list.
3️⃣ Using Unaware Partners: They trick companies who don’t check the DPL before doing business. This can put those companies in big trouble!
💡 What Can We Do?
Always check the DPL before trading or exporting.
Be alert to fake paperwork or unusual requests.
Educate others about these risks to keep businesses honest and safe.
We all play a role in stopping financial crime and keeping the economy fair! 🛡️
#FinancialCrimePrevention #ExportControl #DeniedPersonsList #ComplianceMatters #RiskManagement #AML #InclusiveRegtech #OpenSourceAML
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
