#QuickBiteCompliance Day 119
Stopping Dirty Money in Latin America: How GAFILAT Helps!
Imagine a group of superheroes working together to stop bad guys from hiding their stolen money. In Latin America, that superhero team is called GAFILAT!
GAFILAT is like a big watchdog that helps Latin American countries fight money laundering—when criminals try to hide money they got from illegal activities. It follows the FATF rules but focuses on what’s happening in Latin America.
How Bad Guys Try to Hide Their Money
Even with GAFILAT’s help, criminals find tricky ways to move dirty money, such as:
🔸 Cash Smuggling – Hiding large amounts of money and sneaking it across borders.
🔸 Drug Money Laundering – Using fake businesses, like car washes or nightclubs, to make drug money look legal.
🔸 Corruption – Bribing officials to turn a blind eye to illegal transactions.
Why This Matters
When criminals hide their dirty money, it affects everyone—prices go up, businesses suffer, and communities lose money that could be used for schools and hospitals. That’s why GAFILAT’s work is so important—it helps Latin American countries work together to catch criminals and protect honest people.
Let’s keep the fight against financial crime strong!
🔗 Source: AML Glossary of Terms
#AML #FinancialCrime #GAFILAT #MoneyLaundering #LatinAmerica #CounterTerrorism #InclusiveRegtech #OpenSourceAML #100HariNulis
