Category: Terms
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Day 180: Mutual Legal Assistance Treaty
#QuickBiteCompliance Day 180 🌍 Imagine countries as teammates in a global game of “catch the bad guys.” That’s Mutual Legal Assistance Treaties (MLATs) in action! MLATs are like secret handshakes between countries saying, “We’ll help you investigate crimes if you help us too!” They let governments share evidence, freeze stolen money across borders, and even…
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Day 179: Mutual Evaluation Review
#QuickBiteCompliance Day 179 🚨 Ever heard of a country’s “financial report card”? Let’s talk about Mutual Evaluation Reports (MERs)! Imagine if every country got a “grade” on how well it stops bad guys from moving dirty money, funding terrorists, or hiding shady transactions. That’s basically what an MER is! These reports (by groups like the…
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Day 178: Multilateral Sanctions
#QuickBiteCompliance Day 178 🚨 Breaking Down Multilateral Sanctions: How Criminals Exploit Global Rules (and How We Stop Them) 🚨 Imagine a group of friends teaming up to say, “We won’t share our toys with someone who plays unfair.” That’s what multilateral sanctions are like! When multiple countries join forces to restrict trade or money flows…
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Day 177: Monitoring
#QuickBiteCompliance Day 177 🔍 Catching Sneaky Money Moves: How Banks Play Detective! 🕵️♂️💸 Imagine your piggy bank could tell when someone’s stealing cookies. That’s kinda what “monitoring” does for banks! Banks use smart tools to watch how people move money—like a detective spotting sneaky behavior. If your account suddenly goes from buying candy 🍭 to…
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Day 176: Moneyval
#QuickBiteCompliance Day 176 🚨 Let’s Talk About MONEYVAL: The Superhero Squad Fighting Dirty Money! 🦸♂️💸 Did you know there’s a team of experts working behind the scenes to stop bad guys from hiding stolen cash? Meet MONEYVAL—a group created by the Council of Europe to make sure countries have strong “shields” against money laundering. Think…
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Day 175: Money (Value) Transfer Services
#QuickBiteCompliance Day 175 💡 Sending Money Across the World? Let’s Talk Safety! Imagine you could mail cash to a friend in another country instantly—no bank needed! That’s what Money Transfer Services do. They help millions send funds globally, like a magic money tunnel 🌍💸. But guess what? Criminals sneak into these tunnels to move dirty…
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Day 174: Money Service Business
#QuickBiteCompliance Day 174 💡 What’s a “Money Services Business”? Let’s Keep It Simple! Imagine a giant money helper that lets people send cash across the world, swap currencies, or cash checks—even if they don’t have a bank account. That’s a Money Services Business (MSB)! 🏪💸 They’re super useful, but guess what? Criminals love to sneak…
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Day 173: Money Order
#QuickBiteCompliance Day 173 💡 Ever Heard of a Money Order? Let’s Break It Down (Like You’re 10!) A money order is like a “super-safe check” you buy with cash. People use it to pay bills or buy things when they don’t have a bank account, or when stores won’t take personal checks. Sounds helpful, right?…
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Day 172: MLRO
#QuickBiteCompliance Day 172 🚨 Meet the Money Detectives! 🕵️♂️💸 Did you know there’s a superhero in banks and companies who fights “dirty money”? Meet the Money Laundering Reporting Officer (MLRO)! Their job? To stop sneaky criminals from turning stolen cash into “clean” money. Think of them like a guard who spots fake coins in a…
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Day 171: Money Laundering
#QuickBiteCompliance Day 171 🚨 Money Laundering: Turning “Dirty Money” into Clean Cash… But We Can Stop It! 💧 Imagine a thief steals a muddy bike, then washes it, repaints it, and sells it as “new.” That’s money laundering—but with cash! Criminals use sneaky tricks to make illegal money (from drugs, corruption, etc.) look legal. Here’s…