Know the FCC Terms

Financial Crime Glossary of Terms

ABC	Anti-Bribery and Corruption
AML	Anti-Money Laundering
AML/CTF	Anti-Money Laundering/Counter-Terrorism Financing Rules
AMLID	Anti-Money Laundering International Database
AMLD	Anti-Money Laundering Directive
ACH	Automated Clearing House
AST	Automated Screening Tool
APG	Asia/Pacific Group on Money Laundering
API	Application Programming Interface
APTs	Asset Protection Trusts
ARS	Alternative Remittance System
ATMs	Automatic Teller Machines
AVM	Adverse Media
BO	Beneficial Ownership
BIS	Bureau of Industry and Security
BMPE	Black Market Peso Exchange
BSA	Bank Secrecy Act
BU	Business Unit
CDD	Customer Due Diligence
CFT	Combating the Financing of Terrorism
CFATF	Caribbean Financial Action Task Force
CRO	Chief Risk Officer
CRS	Common Reporting Standard
CSP	Corporate Service Provider
CTR	Currency Transaction Reporting
DOJ	Department of Justice (US)
DNFBP	Designated Non-Financial Businesses & Professions
DJ	Dow Jones
DOW ID	Dow Jones ID
EDD	Enhanced Due Diligence
EAR	Export Administration Regulations
ECJU	Export Control Joint Unit
E-Money	Electronic Money
EFT	Electronic Funds Transfer
eIDV	Electronic Identification & Verification
EU	European Union
FATCA	Foreign Account Tax Compliance
FATF	Financial Action Task Force
FSE	Foreign Sanctions Evader
FCA	Financial Conduct Authority (UK)
FinCEN	Financial Crimes Enforcement Network
4MLD	Fourth Money Laundering Directive
FCPA	Foreign Corrupt Practices Act
FTZ	Free Trade Zone
FSRB	Financial Action Task Force Style Regional Bodies
FIU	Financial Intelligence Unit
FX	Foreign Exchange Market
GRC	Governance, Risk & Compliance
HMRC	Her Majesty’s Revenue & Customs
HMT	His Majesty’s Treasury (UK)
HNWI	High Net Worth Individual
ID&V	Identification & Verification
IVTS	Informal Value Transfer System
IBC	International Business Company
IMOLIN	International Money Laundering Information Network
IMF	International Monetary Fund
IWL	Internal Watchlist
JMLIT	Joint Money Laundering Intelligence Taskforce
KY3P	Know Your Third Party
KYB	Know Your Business
KYC	Know Your Customer
KYCC	Know Your Customer’s Customer
KYE	Know Your Employee
LC	Letter of Credit
MiFID	Markets in Financial Instruments Directive
MOU	Memorandum of Understandin
MAR	Market Abuse Regulation
MLRO	Money Laundering Reporting Officer
MER	Mutual Evaluation Report
MSB	Money Service Business
MONEYVAL	Committee of Experts on the Evaluation of Anti-Money Laundering Measures & the Financing of Terrorism
NGO	Non-Governmental Organisation
NPO	Non-Profit Organisation
NCA	National Crime Agency
NRA	National Risk Assessment
OFC	Offshore Finance Centre
OECD	Organisation for Economic Cooperation and Development
OFAC	Office of Foreign Asset Control (US)
OPBAS	Office for Professional Body Anti-Money Laundering Supervision
OFSI	Office of Financial Sanctions Implementation (UK)
OTH	Other
PEP	Politically Exposed Person
POCA	Proceeds of Crime Act
PIC	Private Investment Company
PSP	Payment Services Provider
px	Pixels
RBA	Risk-Based Approach
RCA	Relative or Close Associate
SAN	Sanctioned Individual
6MLD	Sixth Money Laundering Directive
SAR	Suspicious Activity Report
SCO	Sanctions Compliance Officer
SDN	Specially Designated National
SDD	Sanctions Due Diligence
SIE	Special Interest Entity
STR	Suspicious Transaction Report
TBML	Trade-Based Money Laundering
TCSP	Trust & Corporate Service Provider
TMPs	Transaction Monitoring and Filtering Programs
TI	Transparency International
TF	Terrorist Financing
UBO	Ultimate Beneficial Owner
UN	United Nations
URL	Uniform Resource Locator
UNK	Unknown
WBL	Watch and BlackList
WC	WorldCheck

Originally published on FinCrime Expert