AML and Anti-Money Laundering

Know Your Customer (KYC) & Anti-Money Laundering (AML)

What is Know Your Customer (KYC) & Anti-Money Laundering (AML). Know your customer (KYC) and anti-money laundering (AML) are essential compliance practices within the financial services industry, designed to ensure that financial institutions operate safely, transparently and legally.

Money Laundering

What is Money Laundering. Money laundering refers to the process by which Illicit funds typically obtained through criminal activities are made to appear legitimate by disguising their true origin.

Legal Entity Identifier (LEI)

What is Legal Entity Identifier (LEI) A legal entity identifier (LEI) is a standardized 20-character alphanumeric code defined under ISO 17442 and designed to uniquely identify legally distinct entities that engage in financial transactions across global markets.

Legacy Payment Systems

What is Legacy Payment Systems Legacy payment systems refer to traditional methods and infrastructures used to move money that were designed decades ago and continue to operate largely unchanged today.

FATF Blacklist

What is FATF Blacklist. The FATF blacklist is a designation used to identify countries that pose a high risk to the global financial system due to serious weaknesses in their controls against money laundering and terrorist financing.

OFAC Sanctions

What Are OFAC Sanctions. OFAC sanctions refer to economic and trade restrictions administered by the Office of Foreign Assets Control (OFAC), a division of the U.S. Department of the Treasury. These sanctions are designed to support U.S.

Cryptographically Enhanced Mixers (CEM)

What is Cryptographically Enhanced Mixers. Cryptographically enhanced mixers are privacy‑focused systems designed to obscure the link between the sender and receiver of blockchain transactions.

MRB - Marijuana Related Business

What is MRB – Marijuana Related Business. MRB - marijuana related business refers to companies that are directly or indirectly involved in the legal cannabis industry.

Geographic Targeting Order (GTO)

What is a Geographic Targeting Order (GTO). A geographic targeting order (GTO) is a temporary regulatory directive issued by U.S.

White Money

What is White Money White money refers to income and wealth that is legally earned and fully declared to government authorities. Unlike unreported or illicit funds, it is transparent, traceable, and flows through formal financial systems.

Financial Crime (Diagram)

The financial crime diagram visually represents how illicit financial activities flow through the financial ecosystem. It shows the relationships between different types of financial crimes, how illegal funds are generated, moved and disguised and where controls are typically applied.

Trade-Based Money Laundering

What is Trade-Based Money Laundering Trade-based money laundering (TBML) is a sophisticated technique used to disguise illicit financial flows through international trade transactions.

Foreign Terrorist Organization (FTO)

Definition and Overview A foreign terrorist organization (FTO) is a designation used by governments, most notably the United States, to identify groups based abroad that engage in or pose a significant risk of engaging in activities such as violence against civilians to influence people or governments for political, religious, or ideological goals.

Cannabis Related Business (CRB)

Explore the dynamic world of Cannabis Related Business (CRB) and its significant impact on global banking and financial services. Delve into the evolution, applications, and future trends of CRBs, highlighting key stakeholders, ethical considerations, and real-world case studies.

Blacklist Countries

What is Blacklist Countries In banking, finance, and international trade, blacklist countries refer to nations identified as high-risk or non-cooperative in the fields of anti-money laundering (AML) and countering the financing of terrorism (CFT).

Black Money(Undeclared income)

What is Black Money. Black money refers to income or wealth that is earned through illegal means or deliberately concealed from authorities to avoid disclosure, regulation, or taxation.

Anti-Money Laundering (AML)

What is Anti-Money Laundering (AML) Anti-Money Laundering (AML) refers to a comprehensive legal and regulatory framework designed to prevent criminals from disguising illegally obtained funds as legitimate income.

Annual Transaction Volume (ATV)

What is Annual Transaction Volume (ATV). Annual transaction volume (ATV) refers to the total monetary value of all transactions processed by a business, financial institution, or payment platform over a 12‑month period.

AML Compliance

What is AML Compliance. AML compliance refers to the policies, procedures and technologies used by organizations to prevent money laundering and related financial crimes.