Author: Tommy Hartono
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Day 193: Offshore Financial Centres
#QuickBiteCompliance Day 193 🌍 Offshore Financial Centers: The Secret Hideouts of Dirty Money (Simplified!) Imagine a secret hideout where bad guys stash their treasure, far away from cops and rules. That’s kinda what Offshore Financial Centers (OFCs) are like—places where companies and banks exist but don’t really operate locally. Think sunny islands near big countries…
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Day 192: Offshore Banking License
#QuickBiteCompliance Day 192 🌍 Offshore Banking Licenses: A Double-Edged Sword in Fighting Financial Crime 🕵️♂️ Imagine a bank that’s only allowed to serve people from other countries and can’t use the local money. Sounds like a secret club, right? That’s what an offshore banking license can look like. While these licenses help countries attract global…
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Day 191: Offshore
#QuickBiteCompliance Day 191 🌍 Offshore: Not Just Beaches and Palm Trees 🌴 Imagine hiding your piggy bank at a friend’s house where your parents can’t find it. Now, picture bad guys doing the same thing—but with millions of dollars. That’s how “offshore” works in the world of money crimes. When someone says “offshore,” they mean…
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Day 190: OSFI
🚨 Let’s Talk About Canada’s Financial Guardians & How Bad Guys Try to Trick Them! 🚨 Imagine you’re playing a game where everyone follows rules to keep things fair. In Canada, there’s a group called OSFI (Office of the Superintendent of Financial Institutions) that makes sure banks and other money-handling places play by the rules.…
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Day 189: OFAC
#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…
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Day 188: Non-Proliferation Treaty
#QuickBiteCompliance Day 188 🌍 Keeping Our World Safe: How Global Rules Stop Bad Guys… and Their Money! Did you know that in 1970, countries around the world made a pinky promise to stop nuclear weapons from spreading? 🤝 It’s called the Non-Proliferation Treaty (NPT)—a big name for a simple idea: “Let’s keep the scariest weapons…
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Day 187: NPO
#QuickBiteCompliance Day 187 🚨 Keeping Good Deeds Safe: How Criminals Target Charities (and How to Stop Them) 🚨 Did you know that organizations like food banks, animal shelters, or schools (aka Non-Profit Organizations, or NPOs) sometimes get tricked by bad guys? 😱 These groups do amazing work, but criminals see them as a way to…
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Day 186: NGO
#QuickBiteCompliance Day 186 🌍 Keeping Good Deeds Safe: How We Can Protect NGOs from Financial Crime 🌍 Did you know that charities and nonprofits doing amazing work—like helping disaster survivors, protecting animals, or fighting for human rights—can sometimes accidentally become tools for bad guys? Let me explain how this happens—and what we can do about…
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Day 185: Nominee Director or Shareholder
#QuickBiteCompliance Day 185 🚨 Meet the “Puppet Masters” of Financial Crime: Nominee Directors & Shareholders 🕵️♂️ Imagine a puppet show 🎭 where someone else pulls the strings, but you see only the puppet. That’s how nominee directors/shareholders work. They’re like “fake faces” hiding the real people behind a company. While nominee shareholders are fading, nominee…
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Day 184: Nesting
#QuickBiteCompliance Day 184 🏦 Nesting: The Secret Tunnels Criminals Dig in the Banking System! Think of a big bank as a busy train station. It lets smaller banks (“partner banks”) use its tracks to send money worldwide. But what if those partner banks let their own partners hop on the train too? Now, the big…