Category: Terms
-
Day 75: Database, Third Party
#QuickBiteCompliance Day 75 How Third-Party Databases Help Fight Financial Crime—and How Bad Guys Try to Beat Them Imagine you’re playing a detective game. You need to find clues about people or companies to see if they are honest or sneaky. Third-party databases are like big libraries full of clues! They include information from places like:…
-
Day 74: Customer Relationship
#QuickBiteCompliance Day 74 💡 The Key to Stopping Bad Guys: Building Strong Customer Relationships Let’s talk about why knowing your customers is so important. Imagine if someone tries to hide who they really are to sneak past the rules—sounds like a sneaky villain in a movie, right? But this happens in real life, especially in…
-
Day 73: Customer Due Diligence
#QuickBiteCompliance Day 73 Getting to Know Your Customer: Why It’s Important to Stay Safe! Imagine you’re throwing a party. You want to make sure everyone coming in is your friend, so you check their names at the door. This helps you avoid letting in strangers who might cause trouble. In the world of money, we…
-
Day 72: Custody
#QuickBiteCompliance Day 72 Protecting What’s Yours: The Importance of Safeguarding Assets Imagine you have a piggy bank where you keep all your savings. You trust a grown-up to keep it safe for you. Now, what if that grown-up didn’t just protect your piggy bank but secretly took your money or let someone else sneak into…
-
Day 71: Custodian
#QuickBiteCompliance Day 71 🔍 What is a Custodian, and Why Should We Care? 🤔 Imagine you have a super special treasure box filled with your favorite toys or coins. You trust someone—a grown-up or a friend—to keep it safe for you, so no one steals it or loses it. That trusted person is like a…
-
Day 71: Custodians
#QuickBiteCompliance Day 71 🔍 What is a Custodian, and Why Should We Care? 🤔 Imagine you have a super special treasure box filled with your favorite toys or coins. You trust someone—a grown-up or a friend—to keep it safe for you, so no one steals it or loses it. That trusted person is like a…
-
Day 70: Currency Transaction Report
#QuickBiteCompliance Day 70 How Criminals Use Large Cash Transactions to Hide Their Tracks (And How We Fight Back!) Did you know that when someone brings a lot of cash—like over $10,000 in the U.S.—to a bank, the bank has to tell the government about it? This is called a Currency Transaction Report (CTR). It helps…
-
Day 69: Currency Smuggling
#QuickBiteCompliance Day 69 🚨 Beware of Currency Smuggling! 💰✈️ Did you know that some “bad guys” try to move large amounts of cash across country borders without anyone knowing? This sneaky trick is called currency smuggling, and it’s one way criminals try to hide their illegal activities. Here’s how they do it: 🌍 They might…
-
Day 68: Currency
#QuickBiteCompliance Day 68 💵 Money Matters: The Good, The Bad, and The Ugly Currency—whether it’s paper money, shiny coins, or digital dollars—is what we use to buy things like food, clothes, or even toys. But did you know that while most people use money for good, some bad guys try to misuse it to commit…
-
Day 67: Cross Border
#QuickBiteCompliance Day 67 🌍 How Do Bad Guys Use Cross-Border Tricks to Commit Financial Crime? Let’s Make It Simple! Imagine you have $10 and you give it to your friend in another country. That’s called a cross-border transfer—moving money from one country to another. This is super useful for families, businesses, and travelers. But bad…