Tag: terms
-
Day 196: OECD
#QuickBiteCompliance Day 196 🌍 The “Homework Club” for Countries (And How Criminals Try to Cheat) Imagine if all your friends did group homework to make sure everyone gets an A+. The OECD is like that club—but for countries! It helps governments fix money rules, fight crime, and share tips. Inside this club, there’s a special…
-
Day 195: Operational Risk
#QuickBiteCompliance Day 195 🚨 When “Oops!” Becomes a Crime Magnet: The Hidden Danger of Operational Risk Think of a bank like a giant robot. Its job is to protect money, follow rules, and keep things running. But if the robot’s gears jam (systems fail), its eyes glitch (employees make mistakes), or its armor cracks (hackers…
-
Day 194: Omnibus Account
#QuickBiteCompliance Day 194 🚀 Let’s Talk About “Secret” Bank Accounts (And How Criminals Abuse Them) Imagine you and your friends put your money into one big piggy bank. The bank only sees the group’s money, not who gave what. That’s an Omnibus Account! Now, picture a “helper” account that moves money between banks like a…
-
Day 193: Offshore Financial Centres
#QuickBiteCompliance Day 193 🌍 Offshore Financial Centers: The Secret Hideouts of Dirty Money (Simplified!) Imagine a secret hideout where bad guys stash their treasure, far away from cops and rules. That’s kinda what Offshore Financial Centers (OFCs) are like—places where companies and banks exist but don’t really operate locally. Think sunny islands near big countries…
-
Day 192: Offshore Banking License
#QuickBiteCompliance Day 192 🌍 Offshore Banking Licenses: A Double-Edged Sword in Fighting Financial Crime 🕵️♂️ Imagine a bank that’s only allowed to serve people from other countries and can’t use the local money. Sounds like a secret club, right? That’s what an offshore banking license can look like. While these licenses help countries attract global…
-
Day 191: Offshore
#QuickBiteCompliance Day 191 🌍 Offshore: Not Just Beaches and Palm Trees 🌴 Imagine hiding your piggy bank at a friend’s house where your parents can’t find it. Now, picture bad guys doing the same thing—but with millions of dollars. That’s how “offshore” works in the world of money crimes. When someone says “offshore,” they mean…
-
Day 190: OSFI
🚨 Let’s Talk About Canada’s Financial Guardians & How Bad Guys Try to Trick Them! 🚨 Imagine you’re playing a game where everyone follows rules to keep things fair. In Canada, there’s a group called OSFI (Office of the Superintendent of Financial Institutions) that makes sure banks and other money-handling places play by the rules.…
-
Day 189: OFAC
#QuickBiteCompliance Day 189 🚨 Let’s Talk About OFAC: The “No-No List” Protecting Our Money 🌎 Imagine your teacher has a “naughty list” of kids who aren’t allowed to trade snacks at recess. The Office of Foreign Assets Control (OFAC) is like that—but for grown-ups! This U.S. Treasury team keeps a Specially Designated Nationals (SDN) list…
-
Day 188: Non-Proliferation Treaty
#QuickBiteCompliance Day 188 🌍 Keeping Our World Safe: How Global Rules Stop Bad Guys… and Their Money! Did you know that in 1970, countries around the world made a pinky promise to stop nuclear weapons from spreading? 🤝 It’s called the Non-Proliferation Treaty (NPT)—a big name for a simple idea: “Let’s keep the scariest weapons…
-
Day 187: NPO
#QuickBiteCompliance Day 187 🚨 Keeping Good Deeds Safe: How Criminals Target Charities (and How to Stop Them) 🚨 Did you know that organizations like food banks, animal shelters, or schools (aka Non-Profit Organizations, or NPOs) sometimes get tricked by bad guys? 😱 These groups do amazing work, but criminals see them as a way to…