Author: Tommy Hartono
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Day 38: Bill Stuffing
#QuickBiteCompliance Day 38 🎲 Money Laundering Trick: Bill Stuffing at Casinos 🎲 Ever heard of “bill stuffing”? It sounds harmless, but it’s a sneaky way bad guys try to hide dirty money! Here’s how it works: Imagine someone goes to a casino with a lot of cash. They move from slot machine to slot machine,…
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Day 37: Bill of Lading
#QuickBiteCompliance Day 37 🚢 Understanding the Bill of Lading & How Bad Guys Misuse It 🚢 A Bill of Lading (BOL) is an important piece of paper used in shipping. It’s like a receipt that says, “Hey, we’ve got your cargo!” It tells you what’s inside the shipment, how much of it there is, and…
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Day 36: Bill of Exchange
#QuickBiteCompliance Day 36 🌍💸 What is a Bill of Exchange? And How Can It Be Misused? 💸🌍 Let’s break down a big term: Bill of Exchange. Imagine you’re selling your lemonade to someone across town, but instead, this is a much bigger deal: it’s lemonade being shipped from one country to another. A Bill of…
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Day 35: Beneficiary
#QuickBiteCompliance Day 35 Understanding Beneficiaries in Financial Crime – An Explainer for Everyone In financial transactions, the beneficiary is the person or group who receives the benefits or the money. Beneficiaries can be people, companies, or even families set up in legal structures like trusts. However, in the world of financial crime, the term “beneficiary”…
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Day 34: Beneficial Owner
#QuickBiteCompliance Day 34 👀 Who is the “Beneficial Owner”? Let’s Find Out! Hey everyone! Let’s talk about something called a Beneficial Owner and why it’s important in the fight against financial crime. 🌍💸 What is a Beneficial Owner?Think of a beneficial owner as the real boss behind the scenes. They’re the real person who owns…
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Day 33: Bename Accounts
#QuickBiteCompliance Day 33 🌐 Understanding Benami Accounts and How They Help Bad Guys Hide Money! Hey everyone! Let’s talk about something called Benami Accounts—a type of secret account that’s used in shady ways! 🌫️ What is a Benami Account?Think of a Benami Account like a secret bank account. It’s opened by one person, but they’re…
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Day 32: Bearer Shares
#QuickBiteCompliance Day 32 💡 What Are Bearer Shares? And Why Do They Matter in Financial Crime 💡 Let’s talk about something called bearer shares. Imagine a “secret ticket” that you own simply by holding it in your hands. It doesn’t have your name or anyone else’s on it, just the words “To Bearer.” Whoever has…
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Day 31: Bearer Negotiable Instruments
#QuickBiteCompliance Day 31 💸 What Are Bearer Negotiable Instruments? And How Do Bad Guys Use Them? 💸 Hey everyone! Let’s talk about something called Bearer Negotiable Instruments – sounds tricky, but it’s actually pretty simple! 💰 What Are Bearer Negotiable Instruments? Think of these as money on paper! Some examples are checks, promissory notes, and…
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Day 30: Bearer Form
#QuickBiteCompliance Day 30 🕵️ How Bad Guys Use “Bearer Forms” to Hide Money 🕵️ Hey friends! Ever wonder how people with bad intentions sometimes “hide” money? Today, let’s learn about something called Bearer Forms! 🎫 What’s a Bearer Form? Think of it like a ticket that says, “Whoever holds this can use it!” Whether it’s…
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Day 29: Batch Screening
#QuickBiteCompliance Day 29 This post introduces me on Batch Screening, a vital aspect of compliance. Batch Screening involves screening a company’s complete customer base and related entities, like vendors, periodically against Automated Screening Tools (ASTs). This process ensures ongoing compliance and risk mitigation. #QuickBiteCompliance #InclusiveRegtech #BatchScreening Learn more about compliance terms: https://www.acams.org/en/resources/aml-glossary-of-terms