Author: Tommy Hartono
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Day 150: Investigation
#QuickBiteCompliance Day 150 Unmasking the Hidden Threads: How Investigations Help Stop Financial Crime Imagine you own a lemonade stand. One day, someone gives you a $100 bill for a small lemonade. It seems odd, right? Before accepting, you’d probably check if the bill is real, ask why they’re using such a big note, or even…
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Day 149: International Monetary Fund
#QuickBiteCompliance Day 149 The IMF: A Global Safety Net, But Not Immune to Financial Crime The International Monetary Fund (IMF) is like a giant safety net for the world’s economy. It helps countries when they’re struggling, making sure their money systems stay stable, trade flows smoothly, and people have jobs. But just like any big…
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Day 148: International Business Company
#QuickBiteCompliance Day 148 The Secret Companies That Hide Dirty Money: International Business Companies (IBCs) Imagine if you could create a company in another country within minutes, keep your name hidden, pay little to no taxes, and never have to report what you do. Sounds too good to be true? It’s real—and it’s called an International…
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Day 147: Internal Evasion
#QuickBiteCompliance Day 147 When the Gatekeepers Become the Bad Guys: The Danger of Internal Evasion What happens when the very people who are supposed to stop financial crime become part of it? This is called Internal Evasion, and it’s a serious threat. Imagine a bank has strong security systems to catch criminals trying to move…
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Day 146: Integration
#QuickBiteCompliance Day 146 How Dirty Money Becomes “Clean”: The Final Step in Money Laundering Imagine a thief steals a pile of cash but can’t spend it openly without raising suspicion. Instead, they find clever ways to make the money look like it was earned legally. This final trick is called Integration, the last stage of…
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Day 145: Inherit Risk
#QuickBiteCompliance Day 145 Understanding Inherent Risk: How Financial Criminals Exploit Weak Points Imagine your house has no locks, no alarms, and no fences. Before adding security, the risk of a break-in is at its highest. This is inherent risk—the level of danger before any safeguards are in place. In financial crime, inherent risk comes from…
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Day 144: Informal Value Transfer System
#QuickBiteCompliance Day 144 Informal Value Transfer Systems: The Hidden Pathways of Money Movement Imagine you need to send money to a friend in another country, but instead of using a bank, you give cash to a local shopkeeper. That shopkeeper calls another shopkeeper in your friend’s country, who then gives your friend the same amount.…
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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…