#QuickBiteCompliance Day 171
🚨 Money Laundering: Turning “Dirty Money” into Clean Cash… But We Can Stop It! 💧
Imagine a thief steals a muddy bike, then washes it, repaints it, and sells it as “new.” That’s money laundering—but with cash! Criminals use sneaky tricks to make illegal money (from drugs, corruption, etc.) look legal. Here’s how they play the game:
### 🕵️♂️ The 3-Step Crime Wash
1. “Dump the dirt”: They sneak dirty cash into banks (e.g., depositing $9,000 daily to avoid $10K alerts) or buy gift cards. 🏦
2. “Mix, mix, mix!”: They shuffle money through fake companies, crypto, or foreign accounts to confuse detectives. 🔄
3. “Show off the shine”: They “invest” in real estate, luxury cars, or businesses—making crime profits look like honest work. 🏠💎
Real-world example: A drug gang opens a pizza shop. They report fake sales (100 pizzas/day!) to mix drug cash with real income. The IRS sees a “busny restaurant,” not a crime front. 🍕👀
### 🛑 How to Break the Cycle
– Tech detectives: Tools like #InclusiveRegtech scan millions of transactions to spot weird patterns (e.g., a pizza shop making $1M in a week).
– Global teamwork: #OpenSourceAML lets banks share alerts worldwide—like a group chat for catching crooks! 🌐📱
Remember: When laundering works, it funds more crime—terrorism, trafficking, even modern slavery. 😡
👉 Let’s turn the tide: Smarter laws + smarter tech = a world where crime doesn’t pay.
🔗 Learn more: [ACAMS Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms)
#StopMoneyLaundering #FinancialIntegrity #100HariNulis
(P.S. Dirty money hates transparency. Let’s flood it with light.) 💡✨
