#QuickbiteCompliance day 206
🚨 How “Dirty Money” Starts with a Crime (And How to Stop It!) 🚨
Did you know money laundering doesn’t start with fancy bank tricks? It starts with a “predicate crime”—a fancy term for illegal activities that create “dirty money” in the first place! 💸🕵️
### 🤔 What’s a Predicate Crime?
Think of it like this: If a thief steals a bike (the crime), then sells it and lies about where the cash came from (money laundering), the bike theft is the predicate crime. Without it, there’s nothing to launder!
### 🎭 How Do Criminals Use Predicate Crimes?
Bad guys hide money from:
– Drug trafficking 💊 (Selling illegal drugs → “Cleaning” profits through fake businesses)
– Fraud 🎭 (Scamming people → Moving stolen cash through shell companies)
– Corruption 🏛️ (Bribes → Funneling money offshore to look “legal”)
The scariest part? ANY serious crime can be a predicate offense—which is why banks & regulators track suspicious cash flows!
### 🔍 How Do We Fight Back?
By spotting red flags early! Tools like #InclusiveRegtech and #OpenSourceAML help everyone (not just big banks) detect dirty money hiding in plain sight. 💡
📖 Learn more about financial crime terms: [ACAMS Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms)
#PredicateCrimes #MoneyLaundering #FinancialCrime #StopTheDirtyMoney #100HariNulis
(P.S. Want to see how tech can make AML simpler? Ask me how!)