#QuickbiteCompliance day 277
🚢 The Magic Trick Hiding Dirty Money: Transshipment!
Imagine a magician making a toy disappear from one box… only for it to secretly appear in another box far away. That’s how transshipment works—goods move through hidden stops or switch ships mid-journey before reaching their real destination. But sneaky pirates (aka criminals) use this trick for financial crime!
### 🔍 How Bad Guys Cheat the System:
1. Ghost Ships & Secret Routes:
Sanctioned countries (like Russia 🇷🇺 or North Korea 🇰🇵) send goods to a “friendly” country first. There, cargo gets new paperwork and ships to hide its true origin—like a wolf in sheep’s clothing! Example: Dutch tech parts banned for Russia were rerouted via Turkey and China .
2. Fake Paperwork:
Criminals forge invoices or bills of lading to lie about what’s inside a shipment. A box labeled “furniture” might hold weapons 💣 or luxury goods for sanctioned regimes .
3. Sea Swaps:
Ships meet in the middle of the ocean to transfer cargo (“ship-to-ship transfers”). No port = no inspections! This hides routes to embargoed countries like Iran .
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### ⚔️ Fighting Back:
Inclusive Regtech and Open Source AML tools (like Mulai Console!) help banks and governments:
– 🛰️ Track ships in real-time using satellite data.
– 🔗 Connect trade documents to spot fake invoices or shell companies.
– 🚩 Flag high-risk routes (e.g., ships lingering near North Korea’s waters ).
Fun Fact: One investigation found gold smuggled from Russia to Turkey—then “cleaned” into U.S. dollars via fake trade deals! 💰➡️🥇➡️💵
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Let’s reveal the tricksters! With smart tech, we can turn transshipment from a crime tool into a transparent trade tool 🌍✨
🔗 Learn red flags: [ACAMS Glossary of Terms](https://www.acams.org/en/resources/aml-glossary-of-terms)
#InclusiveRegtech #OpenSourceAML #100HariNulis #SanctionsEvasion #TradeBasedAML #SupplyChainSecurity #FinancialCrime #TransparencyMatters
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P.S. Like magic? Not when it funds weapons or dictators. Tech + teamwork = safer trade! ✨