#QuickbiteCompliance day 261
🌟 Catch the Bad Guys: How Banks Spot Sneaky Money Moves! 🌟
Imagine your school principal notices kids trading candy in secret during recess. They’re hiding it because candy’s banned! 🍬 Banks do the same thing—but instead of candy, they watch for sneaky money tricks. Here’s how bad guys try to cheat (and how banks stop them!):
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### 🕵️ Sneaky Tricks Bad Guys Use:
1. The “Hiding Game”
– Bad guys split big money into tiny pieces (like breaking a cookie into crumbs!) to avoid getting caught. This is called “structuring” .
Example: A thief deposits $9,999 cash 10 times instead of $99,990 once to dodge bank alerts!
2. “Pretend Companies”
– They use fake businesses (isolation companies) to hide dirty money. Think of it like a kid banned from the candy store paying another kid to buy sweets for them .
3. “Magic Money Cleaner”
– Criminals run cash through a real business (like a car wash 🚗) to make it look “clean.” This is money laundering—like painting stolen bikes and selling them as new! .
4. “The Identity Thief”
– They pretend to be someone else (using fake IDs or passports) to open bank accounts and move illegal cash .
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### 🛡️ How Banks Fight Back:
Banks file Suspicious Activity Reports (SARs)—secret notes to police—when they spot:
– ✅ Giant cash deposits by a “pizza shop” that only sells 3 pizzas a day.
– ✅ Money zipping between 10 countries in 10 minutes.
– ✅ Someone using a fake passport to send cash to a war zone .
In 2023 alone, banks filed 4.6 MILLION SARs—that’s like spotting 12,602 sneaky tricks every day! 🚨
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### 💡 Tech to the Rescue!
Tools like #InclusiveRegtech and #OpenSourceAML (like Mulai Console!) help banks:
– 🕸️ Scan millions of transactions fast—like a superhero spider-web!
– 🔍 Spot hidden links between fake companies and criminals.
– 🚨 Alert police without tipping off bad guys (shhh—it’s a secret!).
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Together, we can turn money trails into jail trails! ✨
👉 Learn more tricky finance words: [ACAMS AML Glossary](https://www.acams.org/en/resources/aml-glossary-of-terms)
#FinancialCrime #SAR #AntiMoneyLaundering #InclusiveRegtech #OpenSourceAML #100HariNulis #StopIllicitFinance #BankSecrecyAct #ComplianceHeroes
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P.S. Inclusive tech = fairer fights against crime! 🌍💙