Category: Terms
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Day 160: Legal Risk
#QuickBiteCompliance Day 160 🚨 Banks Beware: The Invisible “Legal Monsters” Lurking in the Shadows! 🦹♂️💼 Hey everyone! Let’s talk about Legal Risk—the scary “what ifs” that keep banks awake at night. Imagine your school’s treehouse club getting shut down because someone sneaked in a rule-breaker. That’s legal risk! It’s when banks face fines, lawsuits, or…
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Day 159: Layering
#QuickBiteCompliance Day 159 🎩 The Magic Trick Criminals Don’t Want You to See: “Layering” Unmasked! 🔍💰 Hey everyone! Let’s talk about layering—the sneaky middle step in money laundering where bad guys turn “dirty money” into a confusing puzzle. Imagine a magician shuffling cups to hide a ball… except the “ball” is stolen cash, and the…
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Day 157: KYC
#QuickBiteCompliance Day 157 🚀 Keeping Our Money Safe: The Superheroes Called KYC and AML! 🦸♂️💸 Hey friends! Let’s talk about something super important but easy to understand: KYC (Know Your Customer) and AML (Anti-Money Laundering). Think of them like secret tools banks and businesses use to stop “bad guys” from hiding sneaky money tricks! Here’s…
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Day 156: Knowledge
#QuickBiteCompliance Day 156 What You “Don’t Know” Can Still Be a Crime: How Criminals Exploit Knowledge Gaps Imagine you’re playing a game of hide and seek. Your friend tells you, “Don’t look behind the couch!” That sounds suspicious, right? Even if you don’t check, deep down, you know they’re probably hiding there. This is similar…
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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…