Discover published sets by community

Anti-Money Laundering refers to laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.

Know Your Customer is the process used by a business to verify the identity of their clients in compliance with AML laws.

Counter-Terrorist Financing aims to prevent and stop the financial support of individuals or groups who engage in terrorism.

Suspicious Activity Report is a document that financial institutions must file with the Financial Crimes Enforcement Network when potential money laundering or fraud is detected.

The Financial Crimes Enforcement Network is a bureau of the U.S. Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes.

The Financial Action Task Force is an intergovernmental organization founded to develop policies to combat money laundering and terrorism financing.

Politically Exposed Person signifies an individual who is or has been entrusted with a prominent public function and therefore presents a higher risk for potential involvement in bribery and corruption.

An AML Compliance Program is a set of policies, procedures, and controls that a financial institution implements to identify, monitor, and manage money laundering risks.

The Bank Secrecy Act, also known as the Currency and Foreign Transactions Reporting Act, requires U.S. financial institutions to collaborate with the government in cases of suspected money laundering and fraud.

A Currency Transaction Report is a report that U.S. financial institutions are required to file for transactions over $10,000 in currency.$

Money Laundering is the illegal process of making large amounts of money generated by a criminal activity appear to have come from a legitimate source.

Placement is the first stage of money laundering where the launderer introduces the illegal profits into the financial system.

Layering is the second stage of money laundering where the launderer engages in a series of conversions or transactions to distance the money from its source.

Integration is the final stage of money laundering where the laundered money is reintroduced into the economy as apparent legitimate funds.