FATF Recommendations
The Financial Action Task Force (FATF) is an intergovernmental organization established to combat money laundering, terrorist financing, and other threats...
Trade-Based Money Laundering (TBML)
Trade-Based Money Laundering (TBML) is a sophisticated method used by criminals to disguise the proceeds of illicit activities through legitimate...
Black Market Peso Exchange (BMPE)
Black Market Peso Exchange (BMPE) is a money laundering technique commonly used in Latin American countries. It involves the conversion...
Anonymous Transactions
Anonymous transactions refer to financial transactions conducted without disclosing the true identity of the involved parties. These transactions aim to...
False Documentation
False documentation refers to the creation, alteration, or use of counterfeit, forged, or fraudulent documents in financial transactions to deceive...
Unusual Transactions
Unusual transactions refer to financial transactions that deviate from typical patterns or norms, raising suspicions of potential money laundering, terrorist...
Electronic Funds Transfer
Electronic Funds Transfer (EFT) refers to the electronic movement of funds from one financial institution to another, facilitated through computer-based...
Money Service Business (MSB)
A Money Service Business (MSB) is a type of financial entity or business that provides various financial services, including money...
Sanctions Screening:A Vital Tool for AML Professionals
Sanctions screening utilizes advanced software solutions, like the Kyros AML Data Suite, to ensure accurate and efficient monitoring of transactions...
Terrorist Financing: A Comprehensive Guide for AML Professionals
Terrorist Financing involves providing funds to support terrorist activities, using various methods to conceal the origin and purpose of the...
Risk Assessment
Risk Assessment is a systematic process used by financial institutions and businesses to identify, evaluate, and prioritize the risks associated...
Ongoing Monitoring
Ongoing Monitoring is a critical component of anti-money laundering! (AML) and counter-terrorist financing (CTF) efforts, involving the continuous review and...
High-Risk Customers
High-Risk Customers refer to individuals, entities, or customer groups that are deemed to have a higher potential for involvement in...
Financial Intelligence Unit (FIU)
A Financial Intelligence Unit (FIU) is a specialized government agency responsible for collecting, analyzing, and disseminating financial intelligence to combat...
Compliance Risk
Compliance risk refers to the potential for an organization to violate laws, regulations, industry standards, or internal policies and procedures....
The Role of KYC and AML Regulations in Preventing Financial Fraud
Together, AML regulations and KYC procedures form the first line of defense against financial fraud. As we delve deeper into...
Money Laundering Stages: Placement, Layering, Integration
Money laundering is a process through which illegally obtained funds made to appear legitimate by disguising their illicit origins. It...
Bank Secrecy Act (BSA)
The Bank Secrecy Act (BSA) is a federal law enacted in the United States in 1970 that establishes the framework...
Currency Transaction Report (CTR)
When an individual or business deposits a significant amount of cash, typically above a specified threshold (currently set at $10,000...
Financial Crimes Enforcement Network (FinCEN)
"FinCEN and its counterparts around the globe must continue to cooperate and innovate together." -Sigal Mandelker
4th Anti-Money Laundering Directive (4AMLD)
"The 4th Anti-Money Laundering Directive (4AMLD) is a critical tool in the fight against money laundering and terrorist financing. "...
Understanding the Risks of Non-Compliance with KYC and AML Regulations
We will delve deeper into the specifics of KYC and AML regulations, explore the risks associated with non-compliance, examine real-life...
5AMLD and Cryptocurrencies: What Businesses Need to Understand
The 5AMLD has brought about significant changes for businesses operating in the cryptocurrency sector. By expanding the definition of 'obliged...
6th AML Directive
The 6th AML Directive, also known as the Sixth Anti-Money Laundering Directive, is a significant legislative framework aimed at reinforcing...
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