#QuickBiteCompliance Day 41
🚫 What is a Blockade and Why Should We Care?
Imagine you’re playing a game of tag, and someone builds a big fence to keep you from running to your favorite hiding spot. That fence is like a blockade. In the real world, blockades happen when countries use ships, planes, or even soldiers to stop goods or people from going in or out of another country.
Blockades can be used to stop bad guys, but sometimes bad guys use blockades to break the rules and commit financial crimes. Here’s how:
1️⃣ Smuggling Through the Cracks: Criminals sneak goods (like weapons or drugs) across blockades, selling them for big money. This money often ends up funding more bad activities.
2️⃣ Fake Aid or Hidden Deals: Sometimes bad guys pretend they’re helping people during a blockade. Instead, they use this as a cover to move money or resources illegally.
3️⃣ Sanction Evasion: Blockades are often linked to sanctions—rules that stop certain countries from trading. Criminals create fake companies or routes to sneak money and goods past these sanctions.
🔍 Why It Matters: Financial crime hurts everyone. It funds dangerous groups, steals money that could help people, and creates unfair systems. When blockades are used the wrong way, they fuel these crimes.
We need to stay sharp, ask questions, and make sure the rules are fair and followed. 💡
#FinancialCrime #AntiMoneyLaundering #Sanctions #AML #GlobalSecurity #Transparency #FraudPrevention #InclusiveRegtech #OpenSourceAML
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
