Acronym Buster

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A

  • ABC

    Anti-Bribery and Corruption

  • ACAMS

    Association of Certified Anti-Money Laundering Specialists

  • AML

    Anti-Money Laundering

  • AMLC

    Anti-Money Laundering Council

  • AMLD

    Anti Money Laundering Directive

  • APGML

    Asia-Pacific Group on Money Laundering

  • API

    Authorised Payment Institution

  • API

    Application Program Interface

  • APTs

    Asset Protected Trusts

  • ARS

    Alternative Remittance System

B

  • BaaS

    Blockchain as a Service

  • BACRIMs

    Bandas Criminales

  • BaFin

    Bundesanstalt für Finanzdienstleistungsaufsicht (German Federal Financial Supervisory Authority)

  • BCBS

    Basel Committee on Banking Supervision

  • BMPE

    Black Market Peso Exchange

  • BO

    Beneficial Owner(ship)

  • BSA

    Bank Secrecy Act

C

  • CAMS

    Certified Anti-Money Laundering Specialist

  • CDD

    Customer Due Diligence

  • CFATF

    Caribbean Financial Action Task Force

  • CFT

    Counter Financing of Terrorism (used interchangeably with CTF)

  • CIFG

    Coalition Counter ISIL Finance Group

  • CRO

    Coalition Counter ISIL Finance Group

  • CTF

    Counter Terrorist Financing (used interchangeably with CFT)

  • CTR

    Currency Transaction Report

D

  • DFAT

    Department of Foreign Affairs and Trade (Australia)

  • DNFBPs

    Designated Non-Financial Businesses or Professions

  • DOJ

    US Department of Justice

E

  • EAG

    Eurasian Group on Combating Money Laundering and Terrorist Financing

  • EDD

    Enhanced Due Diligence

  • EGFIU

    Egmont Group of Financial Intelligence Units

  • EIFR

    European Institute for Financial Regulation

  • EKYC

    Electronic Know Your Customer

  • EMI

    Electronic (E-) Money Institution

  • EMIR

    European Market Infrastructure Regulation

  • ESAAMLG

    Eastern and Southern Africa Anti-Money Laundering Group

  • EV

    Electronic Verification

F

  • FATCA

    Foreign Account Tax Compliance Act

  • FATF

    Financial Action Task Force

  • FCA

    Financial Conduct Authority

  • FCPA

    Foreign Corrupt Practices Act

  • FEP

    Financially Exposed Person

  • FFIEC

    Federal Financial Institutions Examination Council Bank

  • FinCEN

    Financial Crimes Enforcement Network

  • FinTech

    Financial Technology

  • FIU

    Financial Intelligence Unit

  • FSRB

    Financial Action Task Force-Style Regional Body

  • FTFs

    Foreign Terrorist Fighters

  • FX

    Foreign Exchange

G

  • GABAC

    Task Force on Money Laundering in Central Africa

  • GAFI

    Groupe d’Action Financière sur le Blanchiment de Capitaux (Alternative name for the FATF)

  • GAFILAT

    Grupo de Acción Financiera de Latinoamérica(Financial Action Task Force of Latin America)

  • GFSC

    Guersney Financial Services Commission

  • GIABA

    West Africa Money Laundering Group

  • GPML

    Global Program against Money Laundering

  • GRP

    Governance, Risk and Compliance

  • GSB

    Government or State Owned Body

  • GwG

    Geldwäschegesetz(German Money Laundering Act)

H

  • HIO

    Heads of International Organizations

  • HKID

    Hong Kong Identification Number

  • HMT

    Her Majesty’s Treasury (HM Treasury)

  • HNI

    High Net-Worth Individuals

J

  • JMLIT

    Joint Money Laundering Intelligence Taskforce

  • JMLSG

    Joint Money Laundering Steering Group

K

  • KY3P

    Know Your Third Party

  • KYB

    Know Your Business

  • KYC

    Know Your Customer

  • KYCB

    Know Your Correspondant Bank

  • KYCC

    Know Your Customer’s Customer

  • KYE

    Know Your Employee

M

  • MENAFATF

    Middle East and North Africa Financial Action Task Force

  • MiFID (II)

    Markets in Financial Instruments Directive (II)

  • ML

    Money Laundering

  • MLD4

    Fourth EU Money Laundering Directive

  • MLRO

    Money Laundering Reporting Officer

  • MONEYVAL

    Committee of Experts on the Evaluation of Anti-Money Laundering Measures

  • MSB

    Money Services Business

  • MTO

    Money Transfer Operator

  • MVTS

    Money Value Transfer Services

N

  • NCA

    National Crime Agency (UK)

  • NI

    National Insurance (Number)

  • NPRM

    Notice of Proposed Rulemaking (US)

O

  • ODF

    Offshore Disclosure Facility

  • OFAC

    Office of Foreign Assets Control

  • OFSI

    Office of Financial Sanctions Implementation

  • OIG

    Office of Inspector General

P

  • PEP

    Politically Exposed Person

  • POCs

    Proofs-of-concept

  • PSC

    Person of Significant Control

  • PSD(2)

    Payment Services Directive (2)

  • PSP

    Payment Services Provider

R

  • RBA

    Risk-Based Approach

  • RCA

    Relative or Close Associate

  • RegTech

    Regulation Technology

  • REP

    Reputationally Exposed Person

  • RiskTech

    Risk Technology

S

  • SaaS

    Software as a Service

  • SAR

    Suspicous Activity Report

  • SDN

    Sanction Designated National (Individual)

  • SEMA

    Special Economic Measures Act

  • SIE

    State Invested Enterprise

  • SIPs

    Special Interest Persons

  • SMR

    Suspicous Matters Report (Australia)

  • SOE

    State Owned Enterprise

  • SPI

    Small Payment Institution

  • SSN

    Social Security Number

  • STR

    Suspicious Transaction Report

T

  • TBML

    Trade-Based Money Laundering

  • TCSP

    Trust or Company Service Provider

  • TF

    Terrorist Financing

  • TIN

    Tax Identification Number

  • TM

    Transaction Monitoring

  • TS

    Transaction Screening

U

  • UBO

    Ultimate Beneficial Ownership

  • UNA

    United Nations Act

  • UNCAC

    United Nations Convention against Corruption

  • UNSC

    United Nations Security Council (Sanctions)

  • USA PATRIOT Act

    Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001

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