Author: Tommy Hartono
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Onetoken.sg is Available
Have you thought about owning a token site in Singapore? Get it now.
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Day 66: Criminal Proceeds
#QuickBiteCompliance Day 66 🔍 What Are “Criminal Proceeds” and How Do Bad Guys Use Them? Let’s Break It Down! Imagine someone steals a toy, sells it, and uses that money to buy candy. That candy was bought with criminal proceeds—money or things gained by breaking the rules. Now, let’s think bigger. Bad guys commit crimes…
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Day 65: Credit Cards
#QuickBiteCompliance Day 65 🔍 How Can Credit Cards Be Misused for Financial Crime? Let’s Simplify It! Imagine this: You have a magic card that lets you buy anything—clothes, toys, or even ice cream—but you don’t need to pay for it right away. That’s what a credit card does. You buy now, pay later. Most of…
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Day 64: Counterparty
#QuickBiteCompliance Day 64 Who’s on the Other Side of the Deal? Let’s Talk About Counterparties 🤝💰 Every time you buy something, there’s someone on the other side selling it to you. That person or business is called a counterparty. This is the same for banks and companies—they make deals with counterparties all the time. Sounds…
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Day 63: Correspondent Bank
#QuickBiteCompliance Day 63 How “Banking for Banks” Can Help or Hurt the World 🌍💸 Imagine your bank needs help moving money to another country. Instead of doing it alone, they ask a bigger, international bank to help. This is called Correspondent Banking. The big bank (the “correspondent bank”) helps smaller banks (the “respondent banks”) with…
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Day 62: Corporate Vehicle
#QuickBiteCompliance Day 62 🚨 Beware of the Tricks Bad Guys Use to Hide Their Money! 💰 Have you ever heard of “corporate vehicles”? 🏢 No, they’re not cars 🚗—they’re types of businesses like private companies, trusts, or partnerships. These businesses can be used for good things, like creating jobs and helping communities. But sometimes, bad…
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Day 61: Control Effectiveness
#QuickBiteCompliance Day 61 How Strong Are Your Defenses Against Financial Crime? Imagine you’re building a sandcastle at the beach. You know the waves are coming, so you build walls to protect it. If the walls are weak or too small, the waves will easily wash it away. But if your walls are strong and tall,…
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[PARTNER] Check out BISA Store
Our friend just opened a new online store in Singapore. You can visit them at BISAStore.com
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Day 60: Consolidation of Goods
#QuickBiteCompliance Day 60 How Bad Guys Hide Things in Plain Sight! Let’s talk about consolidation of goods – a sneaky trick bad guys use to break the rules. Imagine if someone hid a toy you’re not allowed to bring to school inside a bag full of pencils and notebooks. Because the bag looks normal, no…
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Day 59: Confiscation
#QuickBiteCompliance Day 59 Taking Back What Belongs to Everyone! Let’s talk about confiscation (a big word, but an important one!). Think of it this way: if a bully steals lunch money, a teacher steps in and gives it back to the rightful owner or keeps it safe so the bully can’t take it again. In…