#QuickBiteCompliance Day 176
🚨 Let’s Talk About MONEYVAL: The Superhero Squad Fighting Dirty Money! 🦸♂️💸
Did you know there’s a team of experts working behind the scenes to stop bad guys from hiding stolen cash? Meet MONEYVAL—a group created by the Council of Europe to make sure countries have strong “shields” against money laundering. Think of them as superheroes checking if banks, laws, and governments are ready to block sneaky criminals!
How do the bad guys cheat the system? Let’s break it down:
1️⃣ Fake Companies: Criminals create pretend businesses in countries with weak rules to move illegal money (like drug profits) into “clean” bank accounts.
2️⃣ Ghost Banks: They use banks that don’t ask questions about where money comes from, turning “dirty” cash into “clean” savings.
3️⃣ Too-Good-to-Be-True Deals: Ever seen a $10 toy sold for $1,000? Bad guys lie about prices in international trade to sneak money across borders.
Here’s the good news: Tools like #InclusiveRegtech (tech that helps everyone fight crime fairly) and #OpenSourceAML (free, shared tools to track dirty money) are making it harder for criminals to hide. Imagine a world where banks, small businesses, and even your neighborhood shop can team up to stop financial villains!
Want to learn more? Check out this [AML Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms) to decode terms like “smurfing” or “hawala”!
Let’s keep the conversation going! 💬 How can we make financial safety simple and accessible for all?
#InclusiveRegtech #OpenSourceAML #100HariNulis #StopMoneyLaundering #FinancialSafety
(P.S. Share this post to spread the word—knowledge is power! 💪)
