Category: Terms
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Day 204: Placement
#QuickbiteCompliance day 204 💰 “Placement” – How Dirty Money Sneaks Into the System (Stage 1 of Money Laundering) 🕵️♂️ Imagine you stole a giant chocolate bar but can’t eat it all at once—so you break it into tiny pieces and hide them in your lunchbox, backpack, and pockets. That’s how criminals “place” illegal cash into…
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Day 203: Physical Presence
#QuickbiteCompliance Day 203 🏦 “Ghost Offices” & Financial Crime: Why Physical Presence Matters 🕵️♂️ Imagine your school has a rule: Every student must sit in class to take a test. Now, what if someone sent a empty chair with a note saying, “I’m here!”—but no real student showed up? That’s how criminals trick the system…
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Day 202: Payment, Cross Border
#QuickbiteCompliance day 202 🌍 Cross-Border Payments: The Secret Highways of Financial Crime 🚨 Imagine you have a toy car you want to move from your room to your friend’s house next door. You could carry it yourself, or send it through a secret tunnel. Now, think of money moving between countries like that toy car—except…
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Day 201: Payment Screening
#QuickBiteCompliance Day 201 🚀 Let’s Talk About Payment Screening! 🚀 Imagine you’re playing a game where you have to spot fake treasure maps before pirates sneak them past you. Payment screening is like that—but for banks! It helps catch sneaky transactions before they go through, using clues hidden in payment messages. 💸 How do bad…
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Day 200: Payable Through Accounts
#QuickBiteCompliance Day 200 🚨 Ever Heard of a “Secret Tunnel” for Money? Let’s Talk Payable Through Accounts (PTAs)! 🚨 Imagine you’re sharing a mailbox with strangers. They can send and receive letters, but you don’t know who they are or what’s inside. That’s kind of how Payable Through Accounts (PTAs) work. Banks open these accounts…
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Day 199: Pass-Thru Sanctions Risk
#QuickBiteCompliance Day 199 🚨 Don’t Play Hot Potato with Sanctions Risk! 🚨 Picture this: You’re playing a game of hot potato, but instead of a potato, it’s sanctions risk—and everyone keeps passing it down the line. “Not my problem!” they say. But here’s the catch: bad guys win when no one takes responsibility. Pass-through sanctions…
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Day 198: Partial Match
#QuickBiteCompliance Day 198 🚨 Catching the “Almost Twins”: Why Partial Matches Matter in Fighting Crime 🚨 Imagine you’re playing a game of “Spot the Difference” with a twist: one tiny change—a letter swapped, a birthday shifted—could let a bad guy sneak into a bank, a business, or even a country. That’s the sneaky world of…
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Day 197: Originator
#QuickBiteCompliance Day 197 🔍 The “Invisible Sender” Problem: How Criminals Exploit Originators Imagine you send a birthday gift to a friend, but the box has no return address. The Originator is like that return address—it’s who sent the money. Banks need this info to track where cash comes from. But guess what? Bad guys love…
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Day 196: OECD
#QuickBiteCompliance Day 196 🌍 The “Homework Club” for Countries (And How Criminals Try to Cheat) Imagine if all your friends did group homework to make sure everyone gets an A+. The OECD is like that club—but for countries! It helps governments fix money rules, fight crime, and share tips. Inside this club, there’s a special…
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Day 195: Operational Risk
#QuickBiteCompliance Day 195 🚨 When “Oops!” Becomes a Crime Magnet: The Hidden Danger of Operational Risk Think of a bank like a giant robot. Its job is to protect money, follow rules, and keep things running. But if the robot’s gears jam (systems fail), its eyes glitch (employees make mistakes), or its armor cracks (hackers…