#QuickBiteCompliance Day 88
Dual-Use Goods: How Bad Guys Exploit Technology for Financial Crime
Did you know some things can be used in two very different ways? Think of a tool like a knife—it can help cut fruits in the kitchen (civilian use) or be used to harm someone (not so good). Similarly, there are Dual-Use Goods: items or technologies that can be used for both peaceful and military purposes.
For example:
Missile technology: It can send satellites to space for research but can also create dangerous weapons.
Chemicals: Used to make medicines but can also create harmful substances.
Drones: Great for taking cool aerial photos, but they can also be misused in conflicts.
Unfortunately, some bad guys take advantage of these goods to do bad things, like money laundering or funding illegal activities. For example:
1️⃣ They secretly buy dual-use goods under fake names and ship them to countries involved in conflicts.
2️⃣ They set up fake companies to hide the real purpose of their purchases.
3️⃣ They use hidden bank transfers to pay for these items without being detected.
This is why anti-financial crime experts like us work hard to stop them. By following the money trail, we can uncover hidden risks and protect the world from harm.
What can we do?
🔹 Spread awareness about dual-use goods.
🔹 Support policies to monitor and control their trade.
🔹 Stay alert to financial crime patterns!
Let’s keep these items in safe, responsible hands. Together, we can stop bad guys from turning good technology into harm.
#DualUseGoods #FinancialCrime #AntiMoneyLaundering #StopIllicitTrade #ResponsibleTechnology #InclusiveRegtech #OpenSourceAML
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
