Category: Terms
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Day 155: Kleptocrats
#QuickBiteCompliance Day 155 Kleptocrats: When Leaders Steal from Their Own People Imagine if your school gave money to buy new books and fix the playground, but instead, the class president secretly used it to buy expensive toys just for themselves. That would be unfair, right? This is exactly what kleptocrats do—but on a much larger…
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Day 154: Jurisdiction of Residence
#QuickBiteCompliance Day 154 Home Sweet Hideout: How Criminals Exploit Residency to Evade the Law Imagine your school has different rules depending on where you live. Some neighborhoods have strict rules, while others don’t check as much. If a troublemaker wants to break the rules without getting caught, they might claim to live in a different…
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Day 153: Jurisdiction of Citizenship
#QuickBiteCompliance Day 153 One Person, Two Passports: How Criminals Exploit Citizenship Imagine your friend has two library cards—one for each of two different cities. If one library bans them for breaking the rules, they can still borrow books using the other card. This is how criminals misuse jurisdiction of citizenship to escape financial crime controls.…
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Day 152: JCPOA
#QuickBiteCompliance Day 152 Sanctions, Secrets, and Loopholes: How Criminals Exploit the JCPOA Imagine you’re playing a game where certain players aren’t allowed to trade cards. But one of them finds a clever way to still get the best cards—by using a friend to trade on their behalf. That’s how criminals exploit the Joint Comprehensive Plan…
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Day 151: Isolation Company
#QuickBiteCompliance Day 151 The Disappearing Act: How Isolation Companies Help Criminals Hide Imagine your friend is banned from buying candy at the store. But they really want chocolate. So, they give money to another kid—someone the store doesn’t suspect—to buy the candy for them. This is exactly how isolation companies work in financial crime. When…
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Day 150: Investigation
#QuickBiteCompliance Day 150 Unmasking the Hidden Threads: How Investigations Help Stop Financial Crime Imagine you own a lemonade stand. One day, someone gives you a $100 bill for a small lemonade. It seems odd, right? Before accepting, you’d probably check if the bill is real, ask why they’re using such a big note, or even…
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Day 149: International Monetary Fund
#QuickBiteCompliance Day 149 The IMF: A Global Safety Net, But Not Immune to Financial Crime The International Monetary Fund (IMF) is like a giant safety net for the world’s economy. It helps countries when they’re struggling, making sure their money systems stay stable, trade flows smoothly, and people have jobs. But just like any big…
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Day 148: International Business Company
#QuickBiteCompliance Day 148 The Secret Companies That Hide Dirty Money: International Business Companies (IBCs) Imagine if you could create a company in another country within minutes, keep your name hidden, pay little to no taxes, and never have to report what you do. Sounds too good to be true? It’s real—and it’s called an International…
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Day 147: Internal Evasion
#QuickBiteCompliance Day 147 When the Gatekeepers Become the Bad Guys: The Danger of Internal Evasion What happens when the very people who are supposed to stop financial crime become part of it? This is called Internal Evasion, and it’s a serious threat. Imagine a bank has strong security systems to catch criminals trying to move…
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Day 146: Integration
#QuickBiteCompliance Day 146 How Dirty Money Becomes “Clean”: The Final Step in Money Laundering Imagine a thief steals a pile of cash but can’t spend it openly without raising suspicion. Instead, they find clever ways to make the money look like it was earned legally. This final trick is called Integration, the last stage of…