Operational Risk

Security Operation Center (SOC)

What is Security Operation Center (SOC) A Security Operation Center (SOC) is a centralized unit within an organization responsible for preventing, detecting, analyzing, and responding to cybersecurity threats and security incidents across its digital infrastructure.

Multi-Factor Authentication (MFA)

What Is Multi-Factor Authentication (MFA). Multi-factor authentication (MFA) is a method of verifying a person’s identity before granting access to a system, account, or application.

Mule (Bank) Account

What is a Mule (Bank) Account. A mule (bank) account is a bank account that is used by criminals to move or hide stolen or illegal money. The person who owns or controls the account is known as a money mule.

Risk Mitigation (RM)

What is Risk Mitigation Risk mitigation is the proactive process of identifying, assessing, and addressing risks that could negatively affect an organization or system.

Risk Reduction

What is Risk Reduction Risk reduction refers to the strategies and measures implemented by financial institutions and businesses to minimize the potential risks and losses associated with financial transactions and operations.