Tag: terms
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Day 143: Inequalities List
#QuickBiteCompliance Day 143 Inequalities List: Stopping the Wrong Matches, Catching the Right Criminals Imagine your name is Andrea, but every time you open a bank account, the system flags you as Andrew, a person on a sanctions list. Frustrating, right? This happens because automated screening tools sometimes confuse similar names or words, creating false alarms.…
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Day 142: Identifier
#QuickBiteCompliance Day 142 Identifiers: The Digital Fingerprints That Help Catch Financial Criminals Every person or company on a sanctions list has a unique set of details—like a fingerprint. These details, called identifiers, include names, birth dates, addresses, and even website URLs. Think of them as puzzle pieces that help investigators track down bad actors in…
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Day 141: Human Trafficking
#QuickBiteCompliance Day 141 Human Trafficking: When People Become a Business for Criminals Imagine being tricked into a job that doesn’t exist, only to end up trapped in a place where you’re forced to work without pay or worse—sold like a product. This is human trafficking, one of the biggest criminal businesses in the world. It…
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Day 140: Human Smuggling
#QuickBiteCompliance Day 140 The Dark Business of Human Smuggling: How Criminals Profit from Desperation Imagine wanting a better life so badly that you pay someone to take you across a border illegally. This is human smuggling—when people are transported secretly into another country, often under dangerous conditions. Unlike human trafficking, which is about exploitation, human…
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Day 139: Human Rights
#QuickBiteCompliance Day 139 Human Rights & Financial Crime: When Bad Actors Exploit What’s Meant to Protect Us Every person deserves basic rights—like freedom, safety, and fairness. These rights are not given by governments; they are inherent to all of us. That’s why the United Nations Universal Declaration of Human Rights (UDHR) exists—to set a global…
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Day 138: Hit
#QuickBiteCompliance Day 138 When a Name Match Could Mean Trouble: Understanding Hits in Sanctions Screening Imagine you’re at an airport security checkpoint. A passenger’s name pops up on the system—same name as a wanted criminal! But is it really the bad guy, or just someone with a similar name? This is what happens in financial…
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Day 137: Hawalada
#QuickBiteCompliance Day 137 Hawalada: The Shadow Brokers of Underground Finance Imagine you need to send money to a relative in another country, but instead of using a bank, you go to a local Hawalada—a hawala broker. You give them cash, and they contact another Hawalada in the destination country, who then hands the same amount…
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Day 136: Hawala
#QuickBiteCompliance Day 136 Hawala: A Trust-Based System Exploited by Financial Criminals Imagine you want to send money to a friend in another country, but instead of using a bank, you visit a trusted local shop owner (a hawaladar). You hand over the cash, and within hours, your friend collects the money from another hawaladar—no bank…
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Day 135: Gulf Cooperation Council (GCC)
#QuickBiteCompliance Day 135 GCC and Financial Crime: A Region of Opportunity and Risk Imagine six friends forming a club to help each other grow and stay strong. They set rules to trade, build, and protect their interests. That’s what the Gulf Cooperation Council (GCC) does for its six member countries—Kuwait, Bahrain, Qatar, Saudi Arabia, Oman,…
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Day 134: Grey List
#QuickBiteCompliance Day 134 Greylisted! Why Some Countries Are on the Watchlist for Financial Crime Imagine you’re playing a game, and some players have been caught bending the rules—not bad enough to be kicked out, but enough to be watched closely. In the financial world, that’s what happens when a country gets greylisted. It means the…