#QuickBiteCompliance Day 162
🌍 Unlocking Secrets Across Borders: How Criminals Exploit “Legal Letters”… and How We Stop Them! 🕵️♂️
Imagine you’re playing a game of hide-and-seek, but the hider can run to another country. How do you find them? Governments use something called a Letter Rogatory (or Commission Rogatoire)—a fancy “help request” sent between countries to share evidence in crimes. But guess what? Bad guys are also playing the game… and they cheat!
Here’s how it works (for the good guys):
If a thief in Country A steals money and hides it in Country B, investigators in Country A send a Letter Rogatory to Country B saying, “Hey, can you freeze that account?” Simple, right?
But here’s the twist: criminals LOVE loopholes!
1️⃣ Delay Tactics: They know these letters take months to process. While everyone’s waiting, they move money to another country… or spend it! 🏃💸
2️⃣ Fake Requests: Ever gotten a scam email? Criminals forge these letters to trick banks into sharing private info. “Country X needs this data!” …except they don’t. 📧❌
3️⃣ Weak Links: Some countries struggle to verify requests. Criminals target these gaps to hide dirty money. 🌐🕳️
How do we fight back?
⚡ Speed: Tech tools like #InclusiveRegtech help countries share info faster, closing the “hide-and-seek” loophole.
🤝 Collaboration: #OpenSourceAML lets banks and governments work together openly, spotting fake requests like superheroes! 🦸♀️🦸♂️
At Mulai Console, we’re building systems that make global teamwork simple and secure—no more waiting for slow mail or falling for scams.
Let’s make finance safer, one smart tool at a time! 💡
Learn more about terms like Letter Rogatory here: [ACAMS Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms)
#InclusiveRegtech #OpenSourceAML #100HariNulis #AntiMoneyLaundering #FinancialCrime #GlobalTeamwork
—
P.S. Stay curious! Even “boring” legal tools can be superpowers against crime. 🦸♂️✨
