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...
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
Money Laundering Reporting Officer (MLRO)
The MLRO plays a crucial role in preventing and detecting money laundering activities within the organization. They are responsible for...
The Evolution of KYC and AML Regulations: From 4AMLD to 5AMLD
The evolution of KYC and AML regulations from 4AMLD to 5AMLD reflects the ongoing efforts to combat money laundering and...
What to Look for in Good Regulatory Compliance Software
Regulatory compliance is a critical component of business operations for companies operating in a variety of sectors, including banking, finance,...
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