International Cooperation In Anti Money Laundering
Expert-defined terms from the Graduate Certificate in Know Your Customer and Anti-Money Laundering Compliance course at HealthCareStudies (An LSPM brand). Free to read, free to share, paired with a professional course.
AAML #
Anti-Money Laundering, refers to the set of laws, regulations, and procedures intended to prevent and detect the laundering of money, by criminals and terrorist organizations. Related terms include KYC, CDD, and AML Compliance. The AAML framework is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
ACAMS #
Association of Certified Anti-Money Laundering Specialists, is a certification program for Anti-Money Laundering professionals. Related terms include AML Certification, and CAMS. The ACAMS certification is a recognized standard for AML professionals, and is designed to provide a comprehensive understanding of AML laws, regulations, and procedures.
AML #
Anti-Money Laundering, refers to the set of laws, regulations, and procedures intended to prevent and detect the laundering of money, by criminals and terrorist organizations. Related terms include KYC, CDD, and AML Compliance. The AML framework is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
AML Compliance #
Anti-Money Laundering Compliance, refers to the process of ensuring that an organization is in compliance with AML laws and regulations. Related terms include AML Program, and AML Regulations. AML Compliance is a critical component of an organization's overall compliance program, and is designed to prevent the laundering of money, by criminals and terrorist organizations.
AML Program #
Anti-Money Laundering Program, refers to the set of policies, procedures, and controls designed to prevent and detect the laundering of money. Related terms include AML Compliance, and AML Regulations. An AML Program is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
AML Regulations #
Anti-Money Laundering Regulations, refer to the laws and regulations that govern AML Compliance. Related terms include AML Program, and AML Compliance. AML Regulations are designed to prevent the laundering of money, by criminals and terrorist organizations, and are a critical component of an organization's overall compliance program.
Anti #
Terrorist Financing: refers to the set of laws, regulations, and procedures intended to prevent and detect the financing of terrorist organizations. Related terms include AML, and CTF. Anti-Terrorist Financing is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by terrorist organizations.
Banks Secrecy Act #
refers to the US law that requires financial institutions to maintain records of certain transactions, and to report suspicious transactions to the government. Related terms include AML, and BSA. The Banks Secrecy Act is a critical component of the US AML framework, and is designed to prevent the laundering of money, by criminals and terrorist organizations.
Beneficial Owner #
refers to the individual or entity that ultimately owns or controls a company or asset. Related terms include KYC, and CDD. The Beneficial Owner is a critical component of the KYC process, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
CDD #
Customer Due Diligence, refers to the process of verifying the identity of a customer, and assessing the risk of doing business with that customer. Related terms include KYC, and AML. CDD is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Combating the Financing of Terrorism #
refers to the set of laws, regulations, and procedures intended to prevent and detect the financing of terrorist organizations. Related terms include AML, and CTF. Combating the Financing of Terrorism is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by terrorist organizations.
Correspondent Banking #
refers to the relationship between two banks, where one bank provides services to the other bank's customers. Related terms include AML, and KYC. Correspondent Banking is a critical component of the global financial system, and is designed to facilitate the flow of money across borders.
Country Risk #
refers to the risk of doing business in a particular country, based on factors such as corruption, instability, and regulatory environment. Related terms include AML, and KYC. Country Risk is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
CTF #
Combating the Financing of Terrorism, refers to the set of laws, regulations, and procedures intended to prevent and detect the financing of terrorist organizations. Related terms include AML, and Anti-Terrorist Financing. CTF is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by terrorist organizations.
Customer Identification Program #
refers to the process of verifying the identity of a customer, and assessing the risk of doing business with that customer. Related terms include KYC, and CDD. The Customer Identification Program is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Customer Risk Assessment #
refers to the process of assessing the risk of doing business with a particular customer, based on factors such as country of origin, business type, and transaction history. Related terms include AML, and KYC. The Customer Risk Assessment is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Due Diligence #
refers to the process of verifying the identity of a customer, and assessing the risk of doing business with that customer. Related terms include KYC, and CDD. Due Diligence is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
EDD #
Enhanced Due Diligence, refers to the process of conducting a more in-depth review of a customer's identity and business activities, in order to assess the risk of doing business with that customer. Related terms include AML, and KYC. EDD is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
FATF #
Financial Action Task Force, is an intergovernmental organization that sets standards for AML and CTF. Related terms include AML, and CTF. The FATF is a critical component of the global AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Financial Institution #
refers to any organization that provides financial services, such as banks, credit unions, and brokerages. Related terms include AML, and KYC. Financial Institutions are critical components of the global financial system, and are subject to AML and CTF regulations.
FINCEN #
Financial Crimes Enforcement Network, is a US government agency that is responsible for enforcing AML and CTF regulations. Related terms include AML, and CTF. FINCEN is a critical component of the US AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
High #
Risk Customer: refers to a customer that poses a higher risk of money laundering or terrorist financing, based on factors such as country of origin, business type, and transaction history. Related terms include AML, and KYC. High-Risk Customers are subject to enhanced due diligence and monitoring, in order to prevent the misuse of financial systems.
International Cooperation #
refers to the collaboration between countries to prevent and detect money laundering and terrorist financing. Related terms include AML, and CTF. International Cooperation is a critical component of the global AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
KYC #
Know Your Customer, refers to the process of verifying the identity of a customer, and assessing the risk of doing business with that customer. Related terms include AML, and CDD. KYC is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Money Laundering #
refers to the process of concealing the origin of illicit funds, in order to make them appear legitimate. Related terms include AML, and CTF. Money Laundering is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
OFAC #
Office of Foreign Assets Control, is a US government agency that is responsible for enforcing economic sanctions against countries and individuals. Related terms include AML, and CTF. OFAC is a critical component of the US AML framework, and is designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
PEP #
Politically Exposed Person, refers to a government official or politician who is at a higher risk of corruption or money laundering. Related terms include AML, and KYC. PEPs are subject to enhanced due diligence and monitoring, in order to prevent the misuse of financial systems.
Risk #
Based Approach: refers to the process of assessing the risk of doing business with a particular customer, and implementing controls to mitigate that risk. Related terms include AML, and KYC. The Risk-Based Approach is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Sanctions #
refer to economic penalties imposed by a country or organization against another country or individual. Related terms include AML, and CTF. Sanctions are a critical component of the AML framework, and are designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
SAR #
Suspicious Activity Report, is a report filed by a financial institution with the government, when it suspects that a customer is engaging in suspicious activity. Related terms include AML, and CTF. The SAR is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Terrorist Financing #
refers to the process of providing financial support to terrorist organizations. Related terms include AML, and CTF. Terrorist Financing is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by terrorist organizations.
Typology #
refers to the methods and techniques used by criminals and terrorist organizations to launder money or finance terrorism. Related terms include AML, and CTF. Typology is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
UNSCR #
United Nations Security Council Resolution, is a resolution passed by the United Nations Security Council, that imposes sanctions or other measures against a country or individual. Related terms include AML, and CTF. UNSCRs are a critical component of the global AML framework, and are designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
Watch List #
refers to a list of individuals or entities that are subject to sanctions or other measures. Related terms include AML, and CTF. Watch Lists are a critical component of the AML framework, and are designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
Wire Transfer #
refers to the process of transferring funds electronically, from one bank to another. Related terms include AML, and CTF. Wire Transfers are a critical component of the global financial system, and are subject to AML and CTF regulations.
AML Compliance Officer #
refers to the individual responsible for ensuring that an organization is in compliance with AML laws and regulations. Related terms include AML, and Compliance. The AML Compliance Officer is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
AML Risk Assessment #
refers to the process of assessing the risk of doing business with a particular customer, or in a particular country or region. Related terms include AML, and Risk-Based Approach. The AML Risk Assessment is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Certified Anti #
Money Laundering Specialist: refers to an individual who has obtained a certification in Anti-Money Laundering, such as the CAMS certification. Related terms include AML, and Certification. The Certified Anti-Money Laundering Specialist is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Client Due Diligence #
refers to the process of verifying the identity of a client, and assessing the risk of doing business with that client. Related terms include AML, and KYC. Client Due Diligence is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk clients.
Compliance Program #
refers to the set of policies, procedures, and controls designed to ensure that an organization is in compliance with AML laws and regulations. Related terms include AML, and Compliance. The Compliance Program is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Customer Identification #
refers to the process of verifying the identity of a customer, and assessing the risk of doing business with that customer. Related terms include AML, and KYC. Customer Identification is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Customer Risk Profile #
refers to the assessment of the risk of doing business with a particular customer, based on factors such as country of origin, business type, and transaction history. Related terms include AML, and Risk-Based Approach. The Customer Risk Profile is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Financial Intelligence Unit #
refers to a government agency that is responsible for analyzing and disseminating financial intelligence related to money laundering and terrorist financing. Related terms include AML, and CTF. The Financial Intelligence Unit is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Information Sharing #
refers to the process of sharing information between organizations, in order to prevent and detect money laundering and terrorist financing. Related terms include AML, and CTF. Information Sharing is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
International Cooperation in AML/CFT #
refers to the collaboration between countries to prevent and detect money laundering and terrorist financing. Related terms include AML, and CTF. International Cooperation in AML/CFT is a critical component of the global AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Know Your Customer #
refers to the process of verifying the identity of a customer, and assessing the risk of doing business with that customer. Related terms include AML, and CDD. Know Your Customer is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Money Laundering Reporting Officer #
refers to the individual responsible for reporting suspicious transactions to the government. Related terms include AML, and SAR. The Money Laundering Reporting Officer is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Politically Exposed Person #
refers to a government official or politician who is at a higher risk of corruption or money laundering. Related terms include AML, and KYC. Politically Exposed Persons are subject to enhanced due diligence and monitoring, in order to prevent the misuse of financial systems.
Risk #
Based Approach: refers to the process of assessing the risk of doing business with a particular customer, and implementing controls to mitigate that risk. Related terms include AML, and CDD. The Risk-Based Approach is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Sanctions Compliance #
refers to the process of ensuring that an organization is in compliance with economic sanctions imposed by a country or organization. Related terms include AML, and CTF. Sanctions Compliance is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
Suspicious Activity Report #
refers to a report filed by a financial institution with the government, when it suspects that a customer is engaging in suspicious activity. Related terms include AML, and SAR. The Suspicious Activity Report is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Terrorist Financing #
refers to the process of providing financial support to terrorist organizations. Related terms include AML, and CTF. Terrorist Financing is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by terrorist organizations.
Transaction Monitoring #
refers to the process of monitoring transactions for suspicious activity, in order to prevent and detect money laundering and terrorist financing. Related terms include AML, and CTF. Transaction Monitoring is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Typology #
refers to the methods and techniques used by criminals and terrorist organizations to launder money or finance terrorism. Related terms include AML, and CTF. Typology is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
UN Security Council Resolution #
refers to a resolution passed by the United Nations Security Council, that imposes sanctions or other measures against a country or individual. Related terms include AML, and CTF. UN Security Council Resolutions are a critical component of the global AML framework, and are designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
Watch List #
refers to a list of individuals or entities that are subject to sanctions or other measures. Related terms include AML, and CTF. Watch Lists are a critical component of the AML framework, and are designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
Wire Transfer #
refers to the process of transferring funds electronically, from one bank to another. Related terms include AML, and CTF. Wire Transfers are a critical component of the global financial system, and are subject to AML and CTF regulations.
AML Framework #
refers to the set of laws, regulations, and procedures intended to prevent and detect the laundering of money, by criminals and terrorist organizations. Related terms include AML, and CTF. The AML Framework is a critical component of the global financial system, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Compliance Program #
refers to the set of policies, procedures, and controls designed to ensure that an organization is in compliance with AML laws and regulations. Related terms include AML, and Compliance. The Compliance Program is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Customer Due Diligence #
refers to the process of verifying the identity of a customer, and assessing the risk of doing business with that customer. Related terms include AML, and KYC. Customer Due Diligence is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Financial Intelligence #
refers to the information and analysis related to money laundering and terrorist financing. Related terms include AML, and CTF. Financial Intelligence is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Information Sharing #
refers to the process of sharing information between organizations, in order to prevent and detect money laundering and terrorist financing. Related terms include AML, and CTF. Information Sharing is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
International Cooperation #
refers to the collaboration between countries to prevent and detect money laundering and terrorist financing. Related terms include AML, and CTF. International Cooperation is a critical component of the global AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Know Your Customer #
refers to the process of verifying the identity of a customer, and assessing the risk of doing business with that customer. Related terms include AML, and CDD. Know Your Customer is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Money Laundering Reporting Officer #
refers to the individual responsible for reporting suspicious transactions to the government. Related terms include AML, and SAR. The Money Laundering Reporting Officer is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Risk #
Based Approach: refers to the process of assessing the risk of doing business with a particular customer, and implementing controls to mitigate that risk. Related terms include AML, and CDD. The Risk-Based Approach is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Sanctions Compliance #
refers to the process of ensuring that an organization is in compliance with economic sanctions imposed by a country or organization. Related terms include AML, and CTF. Sanctions Compliance is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
Suspicious Activity Report #
refers to a report filed by a financial institution with the government, when it suspects that a customer is engaging in suspicious activity. Related terms include AML, and SAR. The Suspicious Activity Report is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Terrorist Financing #
refers to the process of providing financial support to terrorist organizations. Related terms include AML, and CTF. Terrorist Financing is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by terrorist organizations.
Transaction Monitoring #
refers to the process of monitoring transactions for suspicious activity, in order to prevent and detect money laundering and terrorist financing. Related terms include AML, and CTF. Transaction Monitoring is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Typology #
refers to the methods and techniques used by criminals and terrorist organizations to launder money or finance terrorism. Related terms include AML, and CTF. Typology is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
UN Security Council Resolution #
refers to a resolution passed by the United Nations Security Council, that imposes sanctions or other measures against a country or individual. Related terms include AML, and CTF. UN Security Council Resolutions are a critical component of the global AML framework, and are designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
Watch List #
refers to a list of individuals or entities that are subject to sanctions or other measures. Related terms include AML, and CTF. Watch Lists are a critical component of the AML framework, and are designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
Wire Transfer #
refers to the process of transferring funds electronically, from one bank to another. Related terms include AML, and CTF. Wire Transfers are a critical component of the global financial system, and are subject to AML and CTF regulations.
AML/CFT Regulations #
refers to the laws and regulations that govern Anti-Money Laundering and Combating the Financing of Terrorism. Related terms include AML, and CTF. AML/CFT Regulations are a critical component of the global AML framework, and are designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Compliance Officer #
refers to the individual responsible for ensuring that an organization is in compliance with AML laws and regulations. Related terms include AML, and Compliance. The Compliance Officer is a critical component of an organization's overall compliance program, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Customer Risk Assessment #
refers to the process of assessing the risk of doing business with a particular customer, based on factors such as country of origin, business type, and transaction history. Related terms include AML, and KYC. The Customer Risk Assessment is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Financial Action Task Force #
refers to an intergovernmental organization that sets standards for Anti-Money Laundering and Combating the Financing of Terrorism. Related terms include AML, and CTF. The Financial Action Task Force is a critical component of the global AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Financial Crimes Enforcement Network #
refers to a US government agency that is responsible for enforcing AML and CTF regulations. Related terms include AML, and CTF. The Financial Crimes Enforcement Network is a critical component of the US AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Information Sharing Agreement #
refers to an agreement between organizations to share information related to money laundering and terrorist financing. Related terms include AML, and CTF. The Information Sharing Agreement is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
International Cooperation in AML/CFT #
refers to the collaboration between countries to prevent and detect money laundering and terrorist financing. Related terms include AML, and CTF. International Cooperation in AML/CFT is a critical component of the global AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Know Your Customer Requirements #
refers to the requirements for verifying the identity of a customer, and assessing the risk of doing business with that customer. Related terms include AML, and KYC. The Know Your Customer Requirements are a critical component of the AML framework, and are designed to prevent the misuse of financial systems by high-risk customers.
Money Laundering Definition #
refers to the definition of money laundering, which is the process of concealing the origin of illicit funds, in order to make them appear legitimate. Related terms include AML, and CTF. The Money Laundering Definition is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Risk #
Based Approach to AML/CFT: refers to the process of assessing the risk of doing business with a particular customer, and implementing controls to mitigate that risk. Related terms include AML, and CTF. The Risk-Based Approach to AML/CFT is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by high-risk customers.
Sanctions List #
refers to a list of individuals or entities that are subject to sanctions or other measures. Related terms include AML, and CTF. The Sanctions List is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
Suspicious Transaction Report #
refers to a report filed by a financial institution with the government, when it suspects that a customer is engaging in suspicious activity. Related terms include AML, and SAR. The Suspicious Transaction Report is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Terrorist Financing Definition #
refers to the definition of terrorist financing, which is the process of providing financial support to terrorist organizations. Related terms include AML, and CTF. The Terrorist Financing Definition is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by terrorist organizations.
Transaction Monitoring System #
refers to a system used to monitor transactions for suspicious activity, in order to prevent and detect money laundering and terrorist financing. Related terms include AML, and CTF. The Transaction Monitoring System is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
Typology of Money Laundering #
refers to the methods and techniques used by criminals and terrorist organizations to launder money or finance terrorism. Related terms include AML, and CTF. The Typology of Money Laundering is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by criminals and terrorist organizations.
UN Security Council Resolution on AML/CFT #
refers to a resolution passed by the United Nations Security Council, that imposes sanctions or other measures against a country or individual. Related terms include AML, and CTF. The UN Security Council Resolution on AML/CFT is a critical component of the global AML framework, and is designed to prevent the misuse of financial systems by countries and individuals subject to economic sanctions.
Watch List of Terrorist Organizations #
refers to a list of organizations that are designated as terrorist organizations, and are subject to sanctions or other measures. Related terms include AML, and CTF. The Watch List of Terrorist Organizations is a critical component of the AML framework, and is designed to prevent the misuse of financial systems by terrorist organizations.
Wire Transfer Regulations #
refers to the regulations that govern the transfer of funds electronically, from one bank to another. Related terms include AML, and CTF. The Wire Transfer Regulations are a critical component of the AML framework, and are designed to prevent the misuse of financial systems by criminals and terrorist organizations.
AML/CFT Training #
refers to the