#QuickBiteCompliance Day 120
Super Teams Fighting Dirty Money Around the World!
Stopping criminals from hiding stolen money is a big job—too big for one group alone. That’s why we have Financial Action Task Force-Style Regional Bodies (FSRBs)!
Think of FATF as the coach of a global team fighting financial crime. But every region has its own challenges, so we need local teams (FSRBs) to focus on problems in their own areas. They follow FATF’s playbook but adapt the rules to their region’s needs.
How Criminals Try to Beat the System
Even with FSRBs in place, bad guys find sneaky ways to move dirty money, such as:
🔸 Hiding Money Across Borders – Moving stolen money between countries to avoid getting caught.
🔸 Using Local Businesses – Setting up fake companies in different regions to make dirty money look clean.
🔸 Corrupting Officials – Paying off people in power to ignore suspicious transactions.
Why FSRBs Matter
Without these regional watchdogs, criminals would have an easier time moving money across countries. FSRBs help local governments work together, making it harder for bad guys to hide their tracks.
When global and local teams join forces, financial crime has no place to hide!
🔗 Source: AML Glossary of Terms
#AML #FinancialCrime #FSRB #MoneyLaundering #CounterTerrorism #GlobalSecurity #InclusiveRegtech #OpenSourceAML #100HariNulis
