FCC Glossary from A to Z
FCC Glossary from A to Z
FCC Glossary from A to Z
Decoding industry jargon: Simplify your compliance journey with this quick guide to industry-specific terms and phrases, designed to clarify the complex language of Financial Crime Compliance
Decoding industry jargon: Simplify your compliance journey with this quick guide to industry-specific terms and phrases, designed to clarify the complex language of Financial Crime Compliance
Decoding industry jargon: Simplify your compliance journey with this quick guide to industry-specific terms and phrases, designed to clarify the complex language of Financial Crime Compliance
A
Adverse Media
Adverse Media, also known as negative news, refers to any unfavourable information about an individual or organisation publicly available through news outlets, online platforms, and other media sources. This information can include allegations of criminal activity, regulatory breaches, involvement in financial scandals, or unethical behaviour. In financial crime compliance, monitoring adverse media is crucial for identifying potential risks associated with customers, business partners, or other stakeholders. Financial institutions and companies often use automated tools and specialised services to continuously scan and analyse media sources for negative news, helping them to detect and assess potential threats quickly. Incorporating adverse media screening into due diligence processes enhances risk management strategies by providing a broader understanding of a subject's reputation and activities. By identifying and addressing adverse media early, organisations can mitigate risks, ensure compliance with regulatory requirements, and protect their reputation and operational integrity.
Adverse Media
Adverse Media, also known as negative news, refers to any unfavourable information about an individual or organisation publicly available through news outlets, online platforms, and other media sources. This information can include allegations of criminal activity, regulatory breaches, involvement in financial scandals, or unethical behaviour. In financial crime compliance, monitoring adverse media is crucial for identifying potential risks associated with customers, business partners, or other stakeholders. Financial institutions and companies often use automated tools and specialised services to continuously scan and analyse media sources for negative news, helping them to detect and assess potential threats quickly. Incorporating adverse media screening into due diligence processes enhances risk management strategies by providing a broader understanding of a subject's reputation and activities. By identifying and addressing adverse media early, organisations can mitigate risks, ensure compliance with regulatory requirements, and protect their reputation and operational integrity.
Adverse Media
Adverse Media, also known as negative news, refers to any unfavourable information about an individual or organisation publicly available through news outlets, online platforms, and other media sources. This information can include allegations of criminal activity, regulatory breaches, involvement in financial scandals, or unethical behaviour. In financial crime compliance, monitoring adverse media is crucial for identifying potential risks associated with customers, business partners, or other stakeholders. Financial institutions and companies often use automated tools and specialised services to continuously scan and analyse media sources for negative news, helping them to detect and assess potential threats quickly. Incorporating adverse media screening into due diligence processes enhances risk management strategies by providing a broader understanding of a subject's reputation and activities. By identifying and addressing adverse media early, organisations can mitigate risks, ensure compliance with regulatory requirements, and protect their reputation and operational integrity.
Anti-Money Laundering (AML)
Anti-Money Laundering (AML)
Anti-Money Laundering (AML)
Anit-Money Laundering Directive (AMLD)
Anit-Money Laundering Directive (AMLD)
Anit-Money Laundering Directive (AMLD)
Artificial Intelligence (AI)
Artificial Intelligence (AI)
Artificial Intelligence (AI)
Automated Screening Tools (ASTs)
Automated Screening Tools (ASTs)
Automated Screening Tools (ASTs)
Anti-Money Laundering Act (AMLA)
Anti-Money Laundering Act (AMLA)
Anti-Money Laundering Act (AMLA)
B
Banking as a Service (BaaS)
Banking as a Service (BaaS)
Banking as a Service (BaaS)
Blacklist
Blacklist
Blacklist
Beneficial Ownership
Beneficial Ownership
Beneficial Ownership
Batch Screening
Batch Screening
Batch Screening
Bank Secrecy Act (BSA)
Bank Secrecy Act (BSA)
Bank Secrecy Act (BSA)
C
Customer Due Diligence (CDD)
Customer Due Diligence (CDD)
Customer Due Diligence (CDD)
Compliance
Compliance
Compliance
Compliance Risk
Compliance Risk
Compliance Risk
Countering America’s Adversaries Through Sanctions Act (CAATSA)
Countering America’s Adversaries Through Sanctions Act (CAATSA)
Countering America’s Adversaries Through Sanctions Act (CAATSA)
Customer Screening
Customer Screening
Customer Screening
D
Designated Categories of Offense
Designated Categories of Offense
Designated Categories of Offense
Delisting
Delisting
Delisting
Due Diligence
Due Diligence
Due Diligence
Department of Foreign Affairs and Trade (DFAT)
Department of Foreign Affairs and Trade (DFAT)
Department of Foreign Affairs and Trade (DFAT)
Designated Non-Financial Businesses and Professions (DNFBPs)
Designated Non-Financial Businesses and Professions (DNFBPs)
Designated Non-Financial Businesses and Professions (DNFBPs)
E
Enhanced Due Diligence (EDD)
Enhanced Due Diligence (EDD)
Enhanced Due Diligence (EDD)
Economic Sanctions
Economic Sanctions
Economic Sanctions
Embargo
Embargo
Embargo
Electronic Communications Surveillance (eComms Surveillance)
Electronic Communications Surveillance (eComms Surveillance)
Electronic Communications Surveillance (eComms Surveillance)
European Securities and Markets Authority (ESMA)
European Securities and Markets Authority (ESMA)
European Securities and Markets Authority (ESMA)
EU Journal
EU Journal
EU Journal
Enterprise-Wide Risk Assessment (EWRA)
Enterprise-Wide Risk Assessment (EWRA)
Enterprise-Wide Risk Assessment (EWRA)
F
False Positives
False Positives
False Positives
False Negatives
False Negatives
False Negatives
Financial Action Task Force (FATF)
Financial Action Task Force (FATF)
Financial Action Task Force (FATF)
Fuzzy Logic
Fuzzy Logic
Fuzzy Logic
Fuzzy Matching
Fuzzy Matching
Fuzzy Matching
FinCrime
FinCrime
FinCrime
Financial Conduct Authority (FCA)
Financial Conduct Authority (FCA)
Financial Conduct Authority (FCA)
G
General Data Protection Regulation (GDPR)
General Data Protection Regulation (GDPR)
General Data Protection Regulation (GDPR)
Grey List
Grey List
Grey List
Governance
Governance
Governance
goAML
goAML
goAML
H
Harmonized System Nomenclature (HSN) Number
Harmonized System Nomenclature (HSN) Number
Harmonized System Nomenclature (HSN) Number
High Net-Worth Individual
High Net-Worth Individual
High Net-Worth Individual
His Majesty’s Treasury (HMT) Sanctions List
His Majesty’s Treasury (HMT) Sanctions List
His Majesty’s Treasury (HMT) Sanctions List
Hong Kong Monetary Authority (HKMA)
Hong Kong Monetary Authority (HKMA)
Hong Kong Monetary Authority (HKMA)
I
Insider Threat
Insider Threat
Insider Threat
International Monetary Fund (IMF)
International Monetary Fund (IMF)
International Monetary Fund (IMF)
Instant Payments Regulation (IPR)
Instant Payments Regulation (IPR)
Instant Payments Regulation (IPR)
J
Joint Money Laundering Intelligence Taskforce (JMLIT)
Joint Money Laundering Intelligence Taskforce (JMLIT)
Joint Money Laundering Intelligence Taskforce (JMLIT)
Japan Ministry of Finance (MOF)
Japan Ministry of Finance (MOF)
Japan Ministry of Finance (MOF)
K
Know Your Customer (KYC)
Know Your Customer (KYC)
Know Your Customer (KYC)
L
Legal Risk
Legal Risk
Legal Risk
Large Language Model (LLM)
Large Language Model (LLM)
Large Language Model (LLM)
M
Machine Learning (ML)
Machine Learning (ML)
Machine Learning (ML)
Money Laundering
Money Laundering
Money Laundering
Monetary Authority of Singapore (MAS)
Monetary Authority of Singapore (MAS)
Monetary Authority of Singapore (MAS)
Money Laundering Reporting Officer (MLRO)
Money Laundering Reporting Officer (MLRO)
Money Laundering Reporting Officer (MLRO)
N
Name Screening
Name Screening
Name Screening
Nested Accounts
Nested Accounts
Nested Accounts
O
Office of Foreign Assets Control (OFAC)
Office of Foreign Assets Control (OFAC)
Office of Foreign Assets Control (OFAC)
Office of Financial Sanctions Implementation (OFSI)
Office of Financial Sanctions Implementation (OFSI)
Office of Financial Sanctions Implementation (OFSI)
P
Partial Match
Partial Match
Partial Match
Payment Screening
Payment Screening
Payment Screening
Politically Exposed Person (PEP)
Politically Exposed Person (PEP)
Politically Exposed Person (PEP)
R
Real-Time Screening
Real-Time Screening
Real-Time Screening
Regulatory Agency
Regulatory Agency
Regulatory Agency
Risk Assessment
Risk Assessment
Risk Assessment
Risk-Based Approach (RBA)
Risk-Based Approach (RBA)
Risk-Based Approach (RBA)
S
Sanctions Compliance
Sanctions Compliance
Sanctions Compliance
Sanctions Screening
Sanctions Screening
Sanctions Screening
Shell Company
Shell Company
Shell Company
Suspicious Activity Report (SAR)
Suspicious Activity Report (SAR)
Suspicious Activity Report (SAR)
Suspicious Transaction Report (STR)
Suspicious Transaction Report (STR)
Suspicious Transaction Report (STR)
Single Euro Payments Area (SEPA)
Single Euro Payments Area (SEPA)
Single Euro Payments Area (SEPA)
Sanctions Evasion
Sanctions Evasion
Sanctions Evasion
Secondary Sanctions
Secondary Sanctions
Secondary Sanctions
Sectoral Sanctions
Sectoral Sanctions
Sectoral Sanctions
State Secretariat for Economic Affairs (SECO)
State Secretariat for Economic Affairs (SECO)
State Secretariat for Economic Affairs (SECO)
T
Typology
Typology
Typology
Trade-Based Money Laundering (TBML)
Trade-Based Money Laundering (TBML)
Trade-Based Money Laundering (TBML)
Transaction Screening
Transaction Screening
Transaction Screening
True Positives
True Positives
True Positives
The Wolfsberg Group
The Wolfsberg Group
The Wolfsberg Group
Transaction Monitoring
Transaction Monitoring
Transaction Monitoring
U
Unilateral Sanctions
Unilateral Sanctions
Unilateral Sanctions
United Nations Security Council (UNSC) Consolidated List
United Nations Security Council (UNSC) Consolidated List
United Nations Security Council (UNSC) Consolidated List
Ultimate Beneficial Ownership (UBO)
Ultimate Beneficial Ownership (UBO)
Ultimate Beneficial Ownership (UBO)
V
Virtual Currency
Virtual Currency
Virtual Currency
W
Watchlist
Watchlist
Watchlist
Watchlist Management
Watchlist Management
Watchlist Management