#QuickBiteCompliance Day 92
🌍 How the Egmont Group Helps Stop the Bad Guys! 🚨
Imagine you have a superhero team that fights bad guys stealing money or using it to do dangerous things. This team exists in real life, and it’s called The Egmont Group! 🛡️💸
The Egmont Group is like a global club of super-smart detectives called Financial Intelligence Units (FIUs). These FIUs work together to share secret tips, tools, and training to catch criminals who:
💰 Hide money in tricky ways to avoid paying their fair share (called money laundering).
⚠️ Send money to dangerous groups that want to hurt people (called terrorist financing).
How do bad guys do this?
1️⃣ Fake Businesses: Bad guys pretend to have real companies, but these are just covers to hide stolen money.
2️⃣ Money Transfers Across Borders: They move money from one country to another super quickly, hoping no one notices.
3️⃣ Cryptocurrency Misuse: They use digital money like Bitcoin to hide their tracks.
How does the Egmont Group stop them?
FIUs in the Egmont Group work together like a puzzle team, sharing clues across countries. For example:
If someone in Country A sends suspicious money to Country B, the FIU in Country A tells their friends in Country B to check it out.
They hold training sessions to teach others how to spot bad behavior and stop it in its tracks.
By sharing information and working together, the Egmont Group helps protect people, businesses, and countries from financial crime. 💪🌟
Together, we can stop the bad guys and make the world safer!
#AntiFinancialCrime #EgmontGroup #MoneyLaundering #TerroristFinancing #FinancialIntelligence #GlobalCooperation #AML #CFT #InclusiveRegtech #OpenSourceAML
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
