Category: Terms
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Day 137: Hawalada
#QuickBiteCompliance Day 137 Hawalada: The Shadow Brokers of Underground Finance Imagine you need to send money to a relative in another country, but instead of using a bank, you go to a local Hawalada—a hawala broker. You give them cash, and they contact another Hawalada in the destination country, who then hands the same amount…
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Day 136: Hawala
#QuickBiteCompliance Day 136 Hawala: A Trust-Based System Exploited by Financial Criminals Imagine you want to send money to a friend in another country, but instead of using a bank, you visit a trusted local shop owner (a hawaladar). You hand over the cash, and within hours, your friend collects the money from another hawaladar—no bank…
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Day 135: Gulf Cooperation Council (GCC)
#QuickBiteCompliance Day 135 GCC and Financial Crime: A Region of Opportunity and Risk Imagine six friends forming a club to help each other grow and stay strong. They set rules to trade, build, and protect their interests. That’s what the Gulf Cooperation Council (GCC) does for its six member countries—Kuwait, Bahrain, Qatar, Saudi Arabia, Oman,…
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Day 134: Grey List
#QuickBiteCompliance Day 134 Greylisted! Why Some Countries Are on the Watchlist for Financial Crime Imagine you’re playing a game, and some players have been caught bending the rules—not bad enough to be kicked out, but enough to be watched closely. In the financial world, that’s what happens when a country gets greylisted. It means the…
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Day 133: Grantors
#QuickBiteCompliance Day 133 Who Controls the Money? Understanding Grantors and Financial Crime Imagine you have a piggy bank, but instead of keeping it yourself, you give it to a friend to hold onto. You tell them how to use the money, but technically, they now control it. In the financial world, the person who gives…
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Day 132: Governance
#QuickBiteCompliance Day 132 Who’s Really in Charge? The Power of Governance in Stopping Financial Crime Imagine a school where the principal and teachers don’t talk to each other. There are no rules, no one checking homework, and students can do whatever they want. Sounds chaotic, right? That’s what happens in companies with weak governance—a system…
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Day 131: Globalization
#QuickBiteCompliance Day 131 Globalization: How Criminals Use It to Stay One Step Ahead Imagine a big river with many branches. If one path gets blocked, the water finds another way to flow. That’s how criminals use globalization to move dirty money. Globalization connects the world—businesses trade across borders, people invest internationally, and goods travel freely.…
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Day 130: Gatekeeper
#QuickBiteCompliance Day 130 Gatekeepers: When the Wrong Hands Hold the Keys Imagine a giant vault filled with money. Normally, you’d need a key to get in. But what if someone with a key—like a lawyer, accountant, or financial advisor—helped the bad guys sneak money in and out? That’s exactly how criminals use gatekeepers to launder…
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Day 129: GAFISUD
#QuickBiteCompliance Day 129 How Criminals Exploit Weaknesses in Latin American Financial Systems—And How We Fight Back Imagine a giant spiderweb across South America, with money moving from one country to another. This web is supposed to catch criminals laundering dirty money. But what if some parts of the web have holes? That’s where bad guys…
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Day 128: Fuzzy Logic
#QuickBiteCompliance Day 128 Fuzzy Logic: Catching Criminals Who Try to Trick the System Imagine you’re looking for your friend “John Smith” online, but you accidentally type Jon Smit. Even though it’s misspelled, the search still finds him. That’s because of fuzzy logic—a smart way to recognize things that almost match but aren’t exact. In financial…