Category: Terms
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Day 50: Cashier Check
#QuickBiteCompliance Day 50 What’s a Cashier’s Check, and How Do Bad Guys Misuse It? Imagine you want to pay someone without using cash. A cashier’s check is like a super-safe IOU from the bank. You give the bank money, and they write a check from their account instead of yours. It’s trusted because it’s backed…
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Day 49: Cash Deposit
#QuickBiteCompliance Day 49 What Are Cash Deposits, and How Do Bad Guys Use Them? Let’s say you find a $5 bill and decide to put it into your piggy bank. That’s like making a cash deposit—you’re putting money somewhere safe. For adults, cash deposits happen at banks. They bring their money, deposit it into their…
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Day 48: Cash Collateralized Loans
#QuickBiteCompliance Day 48 What Are Cash Collateralized Loans? And Why Should We Care? Imagine you lend your friend $10, but they promise to pay you back by giving you their piggy bank as collateral. If they don’t repay you, you get to keep the piggy bank. That’s how cash collateralized loans work—except in the grown-up…
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Day 47: Cash-intensive Business
#QuickBiteCompliance Day 47 💡 Cash-Intensive Businesses: How Some Bad Guys Use Them to Hide Dirty Money 💡 Did you know that some businesses, like pizza places, car washes, or taxis, deal mostly in cash? These are called cash-intensive businesses because customers often pay with paper money instead of cards. While many of these businesses are…
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Day 46: Casa de Cambio
#QuickBiteCompliance Day 46 💡 What is a Casa de Cambio, and Why Do Bad Guys Love It? 💡 Have you ever heard of a “Casa de Cambio”? It’s a fancy name for a currency exchange shop, where people can trade one kind of money for another. These places are helpful when you’re traveling to another…
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Day 45: Caribbean Financial Action Task Force (CFATF)
#QuickBiteCompliance Day 45 🌍 How the Caribbean Stays Safe from Money Crime 🌍 Did you know there’s a superhero team in the Caribbean fighting financial crime? 🦸♀️🦸♂️ It’s called the Caribbean Financial Action Task Force (CFATF)! This team works with countries like Jamaica, the Cayman Islands, and the Bahamas to stop bad guys from using…
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Day 44: Cardholder
#QuickBiteCompliance Day 44 The Power of a Cardholder and Why We Must Protect It Have you ever seen a bank card? The person whose name is on that card is called the Cardholder. They are the ones allowed to use it to buy things or take money out of an account. Sounds simple, right? But…
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Day 43: Bureau of Industry and Security
#QuickBiteCompliance Day 43 Keeping the World Safe: How BIS Fights Financial Crime Let’s talk about the Bureau of Industry and Security (BIS)—a part of the U.S. Department of Commerce that does super-important work to protect everyone. Imagine if someone tried to send dangerous stuff like weapons or sensitive technology to people who could cause harm.…
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Day 42: Boycott
#QuickBiteCompliance Day 42 Why “Boycotts” Can Be a Tool for Bad Guys Did you know a “boycott” is when people refuse to buy from or work with someone as a way to protest? It’s a powerful way to show disagreement. But here’s the twist—sometimes bad guys use boycotts to hide financial crimes! For example:1️⃣ Fake…
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Day 41: Blockade
#QuickBiteCompliance Day 41 🚫 What is a Blockade and Why Should We Care? Imagine you’re playing a game of tag, and someone builds a big fence to keep you from running to your favorite hiding spot. That fence is like a blockade. In the real world, blockades happen when countries use ships, planes, or even…