Tag: terms
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Day 239: Seized
#QuickbiteCompliance day 239 🚨 The Candy Bar Heist: How Cops “Seize” Bad Guys’ Loot! Imagine your principal catches a kid stealing candy bars. Instead of just freezing the candy (saying, “Don’t eat it yet!”), she SEIZES it—grabbing the bars and locking them in her desk. The candy still belongs to the kid, but now the…
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Day 237: Sectoral Sanctions
#QuickbiteCompliance day 237 🚀 Sectoral Sanctions: A Smarter Way to Stop Financial Crime? Did you know there’s a type of financial restriction that doesn’t just block one person or one company—but an entire sector of a country’s economy? It’s called #SectoralSanctions, and it’s like putting a “Do Not Enter” sign on certain money moves with…
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Day 236: Second Line of Defense
#QuickbiteCompliance day 236 🚀 The Silent Guardians: How Your Second Line of Defense Stops Financial Criminals You know superheroes who work behind the scenes? In banks and companies, the Second Line of Defense (2LOD) is exactly that! They’re the unsung heroes—like Compliance Officers, HR, and Tech teams—who build shields against bad guys trying to move…
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Day 234: Scope of Permitted Activities
#QuickbiteCompliance day 234 🚦 Sanctions: What You CAN Do vs. What Needs a Pass (License)! Ever played a game where some moves are free, but others need special permission? Sanctions work the same way! Let’s break down: — ### ⚖️ The Rules 1. ✅ Permitted Without License: – Humanitarian Aid: Sending food, medicine, or vaccines…
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Day 232: Sanctions Regime
#QuickbiteCompliance day 232 🚨 How “Sanctions Regimes” Stop Bad Guys (And How They Try to Cheat) 🚨 Did you know countries have special rules called “sanctions regimes” to stop criminals, terrorists, and dangerous governments from using money for harm? These rules freeze bad guys’ funds, ban trade with them, and cut off their access to…
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Day 230: Sanctions Due Diligence
#QuickbiteCompliance day 230 🚀 Sanctions Due Diligence (SDD): Keeping Bad Guys Out of the Financial System! Did you know that just like banks check who you are before opening an account (KYC), they also have to make sure you’re not on a “bad guy list”? That’s called Sanctions Due Diligence (SDD)—a fancy way of saying…
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Day 229: Sanctions Evasion
#QuickbiteCompliance day 229 🚨 How Bad Guys Sneak Past the Rules: Sanctions Evasion Explained! �♂️💸 Imagine you’re playing a game where some players are banned—but they sneak in by changing their jerseys or pretending to be someone else. That’s what sanctions evasion looks like in finance! Bad actors hide their connections to sanctioned countries, companies,…
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Day 227: Sanctions Compliance Officer
#QuickbiteCompliance day 227 🚨 Keeping the Bad Guys Out: The Superhero Role of a Sanctions Compliance Officer (SCO)! 🚨 Did you know banks and businesses have secret superheroes fighting financial crime? Meet the Sanctions Compliance Officer (SCO)—the guardian who stops bad guys from using money for illegal things like funding wars or smuggling. ### 🔍…
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Day 226: Sanctions Compliance
#QuickbiteCompliance day 226 🔍 Sanctions Compliance: The Rules That Keep Bad Guys in Check (And How They Try to Bend Them) 🔍 Think of sanctions compliance like a giant rulebook 📖 that stops criminals, terrorists, and corrupt leaders from using money or trade to do harm. Banks, businesses, and governments follow these rules to freeze…
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Day 225: Sanctions
#QuickbiteCompliance day 225 🚨 How Sanctions Stop Bad Guys (And How They Try to Cheat) 🚨 Did you know countries sometimes use “sanctions” like a timeout for rule-breakers? 🛑 Sanctions block trade, money, or travel to pressure bad actors—like criminals, terrorists, or corrupt leaders—to stop harmful behavior. But guess what? Bad guys cheat. Here’s how: …