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)
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
C
Customer Due Diligence (CDD)
Customer Due Diligence (CDD)
Customer Due Diligence (CDD)
Compliance
Compliance
Compliance
D
Designated Categories of Offense
Designated Categories of Offense
Designated Categories of Offense
Delisting
Delisting
Delisting
Due Diligence
Due Diligence
Due Diligence
E
Enhanced Due Diligence (EDD)
Enhanced Due Diligence (EDD)
Enhanced Due Diligence (EDD)
Economic Sanctions
Economic Sanctions
Economic Sanctions
Embargo
Embargo
Embargo
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
G
General Data Protection Regulation (GDPR)
General Data Protection Regulation (GDPR)
General Data Protection Regulation (GDPR)
Grey List
Grey List
Grey List
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
I
Insider Threat
Insider Threat
Insider Threat
International Monetary Fund (IMF)
International Monetary Fund (IMF)
International Monetary Fund (IMF)
J
Joint Money Laundering Intelligence Taskforce (JMLIT)
Joint Money Laundering Intelligence Taskforce (JMLIT)
Joint Money Laundering Intelligence Taskforce (JMLIT)
K
Know Your Customer (KYC)
Know Your Customer (KYC)
Know Your Customer (KYC)
L
Legal Risk
Legal Risk
Legal Risk
M
Machine Learning (ML)
Machine Learning (ML)
Machine Learning (ML)
Money Laundering
Money Laundering
Money Laundering
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)
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
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)
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
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
V
Virtual Currency
Virtual Currency
Virtual Currency
W
Watchlist
Watchlist
Watchlist