#QuickBiteCompliance Day 163
🌍 “Why Do Rules Sometimes Bend? Let’s Talk Licenses (And How Bad Guys Try to Break Them)”
Imagine you’re playing a game where everyone follows strict rules… except when the teacher hands out a “free pass” for special situations. That’s what licenses are in the world of financial rules! Governments use them to allow important activities (like sending food to disaster zones) that would otherwise be blocked by sanctions. But guess what? Criminals love to sneak through these “free passes” too. Let’s break it down!
🔍 General License = Open Door (For Good!)
Example: A charity sends medicine to a war-torn country under a general license. Yay! But… a shady company might pretend to send “humanitarian aid” while smuggling illegal goods. Sneaky, right?
🔍 Specific License = Special Permission (For One!)
Example: A farmer gets approval to sell crops to a sanctioned country. Good! But… a corrupt official might fake paperwork to approve illegal deals for their friends. Uh-oh!
🕵️ How Bad Guys Cheat the System
1. Fake Stories: “We’re shipping blankets!” (but it’s really luxury cars for dictators).
2. Bribes: Paying off insiders to get “special licenses” for banned trades.
3. Copycat Tricks: Reusing old license numbers to hide illegal transactions.
💡 How Do We Stop Them?
Tools like #InclusiveRegtech (tech that works for everyone) and #OpenSourceAML (shared tools to catch money laundering) help spot fake licenses. Think of it like a superhero team-up: better rules + smarter tech = safer money!
Let’s keep licenses working for GOOD—not greed. 🚀
🔗 Learn more: [ACAMS Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms)
#InclusiveRegtech #OpenSourceAML #100HariNulis #FinancialCrime #SanctionsCompliance
(P.S. Want to geek out on how tech fights back? Let’s chat! 💬)
