#QuickBiteCompliance Day 95
🌍 Let’s Talk About Embargoes: Why They Matter and How the Bad Guys Try to Break Them!
Imagine your school banned trading candy with a certain group of students because they weren’t following the rules. That’s kind of like what a country does when it creates an embargo. An embargo is a way for governments to say, “We’re not going to trade with you until you play fair.” This could mean banning trade of oil, grain, or even technology with a specific country.
Sounds simple, right? Well, here’s where the bad guys come in. They try to cheat the system. Here’s how:
🚢 Sneaky Shipments: Criminals might hide goods in secret containers or send them through other countries to cover their tracks.
💸 Fake Companies: They create fake businesses to make it look like the trade is legal.
🛠️ Tech Tricks: Using technology, they forge documents to hide what’s really being traded.
Why does this matter? Because breaking embargoes can fund illegal activities like terrorism or harm innocent people. As anti-financial crime experts, it’s our job to stop the bad guys and make sure the rules are followed!
#Embargoes #FinancialCrime #StopIllicitTrade #GlobalSecurity #ComplianceMatters #InclusiveRegtech #OpenSourceAML
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
