#QuickBiteCompliance Day 79
Understanding “Delisting” and How Bad Guys Might Take Advantage
Let’s talk about something called “Delisting.” Imagine you’re playing a game, and someone gets put on the “Time-Out” list for breaking the rules. They can’t play until they’ve shown they’re following the rules again. In the world of finance, a similar thing happens to people or companies that break big rules, like supporting illegal activities. These rule-breakers are put on sanctions lists, which block them from using banks or doing business in many countries.
But what happens when these people say they’ve changed their ways? They can ask to be delisted—which means being removed from the “Time-Out” list. If the authorities agree they’ve stopped doing bad things, they can go back to doing business. Sounds fair, right?
Now, here’s where the bad guys get sneaky:
1️⃣ Fake Compliance: Some might pretend to follow the rules just long enough to get delisted, but secretly they’re still up to no good.
2️⃣ Using Others: They might get someone else (like a relative or a fake company) delisted, then use them to keep doing shady deals.
3️⃣ Moving Fast: Once delisted, they quickly move their money around to hide it before anyone notices.
Why It Matters: Delisting is important for giving people a second chance, but it also needs to be handled carefully to stop bad guys from using it as a loophole. Financial crime experts (like me!) work hard to make sure the process is fair but also safe.
Let’s stay informed and vigilant! 💡
#FinancialCrime #Sanctions #Delisting #AML #ComplianceMatters #RiskManagement #FraudPrevention #AntiMoneyLaundering #InclusiveRegtech #OpenSourceAML
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
