Tag: terms
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Day 123: Foreign Sanction Evaders
#QuickBiteCompliance Day 123 🚨 Beware of Foreign Sanctions Evaders (FSEs)! 🚫💸 Did you know that some bad guys try to sneak around rules meant to keep the world safe? These rule-breakers are called Foreign Sanctions Evaders (FSEs). They’re people or companies who try to dodge U.S. sanctions—like a kid trying to sneak candy after bedtime!…
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Day 122: First Line Of Defense
#QuickBiteCompliance Day 122 🚨 First Line of Defense: The Frontline Guardians Against Financial Crime 🚨 What is the First Line of Defense? Imagine you’re guarding a castle. The first line of defense is the team at the gate, checking everyone who wants to come in. In the financial world, this team includes employees who onboard…
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Day 121: FIU
#QuickBiteCompliance Day 121 🚨 Financial Intelligence Units (FIUs): The Superheroes Fighting Financial Crime 🚨 Hey LinkedIn community! 👋 Let’s talk about Financial Intelligence Units (FIUs)—the unsung heroes in the fight against financial crime. Think of them as detectives who collect and analyze clues about suspicious money activities. I’ll explain it in a way even a…
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Day 120: FSRB
#QuickBiteCompliance Day 120 Super Teams Fighting Dirty Money Around the World! Stopping criminals from hiding stolen money is a big job—too big for one group alone. That’s why we have Financial Action Task Force-Style Regional Bodies (FSRBs)! Think of FATF as the coach of a global team fighting financial crime. But every region has its…
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Day 119: GAFILAT
#QuickBiteCompliance Day 119 Stopping Dirty Money in Latin America: How GAFILAT Helps! Imagine a group of superheroes working together to stop bad guys from hiding their stolen money. In Latin America, that superhero team is called GAFILAT! GAFILAT is like a big watchdog that helps Latin American countries fight money laundering—when criminals try to hide…
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Day 118: FATF
#QuickBiteCompliance Day 118 Fighting Financial Crime: How the FATF Protects the World Imagine a world where criminals can secretly move money to do bad things—like stealing from people, selling illegal stuff, or even funding dangerous groups. Scary, right? That’s why we have the Financial Action Task Force (FATF)! FATF is like a global rulebook for…
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Day 117: Final Rule Part 504
#QuickBiteCompliance Day 117 Why Banks Need Super-Smart Security Systems to Catch the Bad Guys Imagine you’re playing a video game where you have to stop villains from sneaking treasure out of a castle. But these villains are really sneaky! They try to hide the treasure in different places, wear disguises, or trick the guards. Banks…
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Day 116: False Positive
#QuickBiteCompliance Day 116 🚨 **What’s a “False Positive” in Financial Crime? Let’s Break It Down!** 🚨 Imagine you’re playing a game of “Guess Who?” but instead of people, you’re looking for bad guys on a list. Sometimes, the system thinks it found a match, but when you double-check, it’s NOT the right person. That’s called…
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Day 115: False Negative
#QuickBiteCompliance Day 115 🚨 The Danger of False Negatives in Financial Crime 🚨 Imagine a security guard at a school entrance checking names on a “do-not-enter” list. A bad guy walks up, but because his name is slightly different or misspelled, the guard lets him in. That’s a false negative—a dangerous mistake that allows the…
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Day 114: Facilitation
#QuickBiteCompliance Day 114 Facilitation: Helping Others Break the Rules (Without Getting Caught?) Imagine your school bans you from eating candy. But your friend can eat as much as they want. So, you give them money to buy candy for you. That way, you still get to eat it—without breaking the rule directly. That’s called facilitation!…