#QuickBiteCompliance Day 91
🌍 Economic Sanctions: Protecting the World from Bad Behavior
Let’s talk about economic sanctions! Think of them as “time-outs” for countries, companies, or people who aren’t following the rules. Just like when someone misbehaves on the playground, economic sanctions are meant to stop bad actions and encourage better behavior. These “time-outs” could mean stopping trade, blocking money from being used, or setting rules about what can and can’t be done with other countries.
But here’s the twist: bad guys sometimes find sneaky ways to break these rules! Here are some examples:
🔍 Fake Companies: Bad actors create fake businesses to hide where money or goods are really going.
🌍 Hidden Routes: They might use secret pathways to ship banned items, like weapons or luxury goods.
💳 Money Tricks: Some even use fake identities or cryptocurrency to move money in ways that break the rules.
These actions can fund harmful activities, from illegal arms deals to human trafficking. That’s why financial crime experts work hard to catch these tricks and make the world a safer place!
💡 What can we do?
Spread awareness about these bad practices.
Support organizations that enforce sanctions.
Encourage businesses to know who they’re working with.
📢 Let’s work together to stop financial crime!
#EconomicSanctions #FinancialCrime #AntiMoneyLaundering #AML #SanctionsCompliance #FightFinancialCrime #GlobalSecurity #TransparencyMatters #InclusiveRegtech #OpenSourceAML
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
