#QuickBiteCompliance Day 173
💡 Ever Heard of a Money Order? Let’s Break It Down (Like You’re 10!)
A money order is like a “super-safe check” you buy with cash. People use it to pay bills or buy things when they don’t have a bank account, or when stores won’t take personal checks. Sounds helpful, right? But guess what? Bad guys can misuse it too. 😱
Here’s How Criminals Play Tricks:
1️⃣ Sneaky Small Purchases: They buy lots of money orders under $500 each (to avoid detection) and send them overseas. Over time, this adds up to BIG illegal cash moving across borders.
2️⃣ Fake Names, Fake Games: They use stolen IDs to buy money orders, then cash them out like clean money.
3️⃣ Dirty Money Car Wash: Imagine drug dealers turning cash into money orders, then depositing them into fake business accounts. Poof! Dirty money looks “clean.”
The Good News? Smart tools like #InclusiveRegtech and #OpenSourceAML help banks spot these tricks! Think of it like a superhero scanner for shady money moves. 🦸♂️
Let’s Fight Financial Crime Together!
Learn more about money laundering terms here: [ACAMS Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms)
#InclusiveRegtech #OpenSourceAML #100HariNulis
(P.S. Tech like Mulai Console uses these features to make finance safer for everyone!)
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Why share this? 💡 Awareness = Power. The more we know, the harder it is for criminals to win. Let’s build a world where money moves safely—and fairly—for all. 🌍✨