#QuickBiteCompliance Day 189
🚨 Let’s Talk About OFAC: The “No-No List” Protecting Our Money 🌎
Imagine your teacher has a “naughty list” of kids who aren’t allowed to trade snacks at recess. The Office of Foreign Assets Control (OFAC) is like that—but for grown-ups! This U.S. Treasury team keeps a Specially Designated Nationals (SDN) list of people, companies, or countries that aren’t allowed to do business with Americans. Why? To stop bad guys from using money for wars, terrorism, or hurting innocent people.
🕵️ How Do Bad Guys Break the Rules?
1. Sneaky Shopping: A criminal pretends to buy medicine for a sanctioned country but actually sends weapons. 💸
2. Money Hiding: They split dirty cash into tiny amounts to avoid being caught—like hiding candy in 100 pockets! �
3. Fake Friends: Bad actors create fake companies to secretly send money to SDN-listed terrorists. 🎭
🛡️ How Do We Fight Back?
Tools like #InclusiveRegtech (tech that everyone can use) and #OpenSourceAML (free tools to track dirty money) help banks and businesses spot these tricks fast! For example, Mulai Console uses these features to make compliance simpler and fairer.
🔍 Want to Learn More?
Check out the [ACAMS Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms) to decode terms like “SDN” or “sanctions”!
Let’s keep money safe for good—not greed! 💙
#InclusiveRegtech #OpenSourceAML #100HariNulis #StopFinancialCrime
(P.S. Always ask: “Is this transaction on the no-no list?” 😉)