AML & Financial Crime Glossary

Clear definitions for compliance professionals working across KYC, AML, and financial crime programs.

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A

AML Compliance Officer

AML/CFT Framework

AML/CFT National Priorities

Above-the-Line Testing

Aggravating Factors

Alert Disposition

Alternative Remittance System

Ancillary Offense

Anti-Money Laundering Act of 2020

Anti-Money Laundering Authority

Anti-Money Laundering and Countering the Financing of Terrorism

Apparent Violation

Asia/Pacific Group on Money Laundering

Asset Forfeiture

Association of Certified Anti-Money Laundering Specialists

Automated Account Monitoring

C

Cash-Intensive Business

Casino and Gaming Laundering

Cease and Desist Order

Central Bank Digital Currency (CBDC)

Civil Forfeiture

Civil Money Penalty

Close Associate

Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism

Committee on Payments and Market Infrastructures

Company Registry

Company Service Provider

Complex Ownership Structure

Confiscation Order

Consolidated Sanctions List

Continuing Activity SAR

Controlling Interest

Corporate Vehicles

Correspondent Banking Abuse

Correspondent Banking Due Diligence

Correspondent Banking Due Diligence Questionnaire

Corruption Risk

Counter-Proliferation Financing

Counter-Terrorist Financing

Country-Based Sanctions

Criminal Prosecution

Crowdfunding for Terrorism

Crypto-Collectible

Cuckoo Smurfing

Currency Transaction Report

Customer Identification Program

Customer Identification and Verification (ID&V)

Customer Risk Profile

Customer Risk Rating

D

Decentralized Application (DApp)

Decentralized Finance (DeFi)

Delivery Channel Risk

Designated Non-Financial Businesses and Professions

Designated Persons and Entities

Designated Vessel

Digital Asset Wallet Address

Distributed Ledger Technology

Documentary Verification

Drug Trafficking

Dynamic Risk Assessment

E

EU Anti-Money Laundering Directives

EU Consolidated List

Effective Control

Effectiveness (Effective Outcomes)

Elder Financial Exploitation

Electronic Identity Verification

Emerging Risk Assessment

Enforcement Action

Enforcement Guidelines

Enhanced Ongoing Monitoring

Enterprise-Wide Risk Assessment

Environmental Crime Proceeds

Escalation to MLRO

European Banking Authority

G

General License

Geographic Risk

Global Legal Entity Identifier (LEI)

Gold-Based Laundering

H

HM Treasury Consolidated List

High-Risk Customer

Human Trafficking

I

Immediate Outcomes

Independent Audit

Independent Testing

Individual Accountability

Insider Trading

Inter-Governmental Action Group against Money Laundering in West Africa

Internal Controls

Internal Suspicious Activity Report

International Convention for the Suppression of the Financing of Terrorism

International Emergency Economic Powers Act

International Organization PEP

International Organization for Standardization (ISO)

Interpretative Note

Interpretive Note to Recommendation 15 (INR.15)

J

K

Known Close Associate

L

Layered Ownership

Legal Arrangement

Legal Arrangements

Loan-Back Scheme

Look-Back Review

M

Management Information (MI)

Markets in Crypto-Assets Regulation (MiCA)

Matters Requiring Attention

Micro-Structuring

Mitigating Factors

Mixing Service (Tumbler)

Model Validation

Monetary Instrument Log

Money Laundering Control Act

Money Laundering Regulations (MLRs)

Money or Value Transfer Services

N

National Risk Assessment

Nature and Purpose of Business Relationship

Nominated Officer

Nominee Arrangement

Non-Conviction Based Confiscation

Non-Documentary Verification

Non-Fungible Token (NFT)

Non-Profit Organization (NPO) Abuse

O

Obligated Entities

Occasional Transaction Threshold

Office of Foreign Assets Control

Ongoing Due Diligence

Ownership Chain

Ownership Tracing

Ownership and Control Structure

Q

Quality Assurance

R

Ransomware Payment

Real Estate Laundering

Recommendation 15

Record Retention (Five-Year Rule)

Regulatory Fine

Rejected Transaction

Relatives and Close Associates

Reliance on Introducers

Report of Foreign Bank and Financial Accounts

Report of International Transportation of Currency or Monetary Instruments (CMIR)

Risk Rating Methodology

Risk and Control Self-Assessment

Risk-Based Approach Methodology

U

UN Consolidated List

Ultimate Beneficial Owner Verification

Under-Invoicing

Unhosted Wallet

United Nations Office on Drugs and Crime

United Nations Security Council Resolution 2462

Unusual Activity Report

V

VASP Registration

VAT Carousel Fraud

Verification of Beneficial Ownership

Verification of Identity

Vienna Convention

Virtual Asset Service Provider (VASP)

W

Wallet Screening

Watchlist Filtering

Wealth Structuring Risk

Weapons of Mass Destruction

Willful Violation

Wind-Down Period

Wolfsberg Factors

Wolfsberg Group

Written Policies and Procedures

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