Avid AML
The intricacies of anti-money laundering are vast and complex. So too, is the language and jargon used by those in the industry. To help make the complicated world of anti-money laundering a little clearer, Avid AML has pulled together a list of the most commonly used acronyms, and their definitions.
ACH - Automated Clearing House
AML – Anti-Money Laundering
AML/CTF – Anti-Money Laundering/Counter-Terrorism Financing
AMLID - Anti-Money Laundering International Database
APTs - Asset Protection Trusts (APTs)
ARS - Alternative Remittance System
AST - Automated Screening Tool
BIS - Bureau of Industry and Security
BIS - Bank of International Settlements
BMPE - Black Market Peso Exchange
BO – Beneficial Ownership
BSA - Bank Secrecy Act
CDD – Customer Due Diligence
CFT – Combating the Financing of Terrorism
CRA – Customer Risk Analysis
CRP – Customer Risk Profile
CT – Counter Terrorism
CTF – Counter Terrorism Financing
CTR – Currency Transaction Reporting
DNFBP – Designated Non-Financial Businesses and Professions
DPL - Denied Persons List
EDD – Enhanced Due Diligence
EAR - Export Administration Regulations
eIDV – Electronic Identity Verification
eKYC – Electronic Know Your Customer
EFT - Electronic Funds Transfer
e-Money - Electronic Money
FAP – Financial Advice Providers
FI – Financial Institutions
FIU – Financial Intelligence Unit
FSE - Foreign Sanctions Evader
FTZ - Free Trade Zone
HNWI – High Net Worth Individual
IBC - International Business Company
ID – Identity Data
IMF – International Monetary Fund
IR – Interactive Representation
IVTS - Informal Value Transfer System
JCPOA - Joint Comprehensive Plan of Action
KYC – Know Your Customer
LLC – Limited Liability Company
MER - Mutual Evaluation Report
MLAT - Mutual Legal Assistance Treaty
MLRO - Money Laundering Reporting Officer
MO - Money Order
MSB - Money Services Business
NBFI – Non-Banking Financial Institutions
NGO - Non-Governmental Organisation
NP – Nature and Purpose
NPT - Non-Proliferation Treaty
NRA – National Risk Assessment
OCDD – Ongoing Customer Due Diligence
OFC - Offshore Financial Center
PEP – Politically Exposed Persons
PIC - Private Investment Company
RBA – Risk Based Approach
RTGS - Real Time Gross Settlement Systems
SAR – Suspicious Activity Report
SCP - Sanctions Compliance Program
SDD - Sanctions Due Diligence
SDN – Specially Designated Nationals and Blocked Persons List
SO - Sanctions Compliance Officer
SSI List - Sectoral Sanctions Identification List
STR – Suspicious Transaction Report
TBML – Trade-Based Money Laundering
TCSP – Trust & Corporate Service Provider
TMPs - Transaction Monitoring and Filtering Programs
TI - Transparency International
UBO – Ultimate Beneficial Owner
API – Application Programming Interface
ARD – Automated Risk Detection
BT – Baseline Transactions
ILMS Training – Integrated Learning Management System Training
MRZ – Machine Readable Zone
OCR – Optical Character Recognition
RBN – Rule Breach Notifications
SaaS – Software-as-a-Service
SDK – Software Development Kit
AfCFTA – African Continental Free Trade Area
APGML – Asia Pacific Group on Money Laundering
AUSTRAC – Australian Transaction Reports and Analysis Centre
BNM - Central Bank of Malaysia
BSP - Bangko Sentral ng Pilipinas
CFATF - Caribbean Financial Action Task Force
DIA – Department of International Affairs
EAG - Eurasian Group on Combating Money Laundering and Financing of Terrorism
EU - European Union
ECJU - Export Control Joint Unit
ESAAMLG – Eastern & Southern African Anti-Money Laundering Group
FATF – Financial Action Task Force
FMA – Financial Markets Authority
FSRB - Financial Action Task Force-Style Regional Body
GAFILAT - Financial Action Task Force on Money Laundering in Latin America
GAFISUD - Spanish: Grupo de Acción Financiera de Sudamérica
GCC - Gulf Cooperation Council
MENAFATF – Middle East and North Africa Financial Action Task Force
MENA – Middle East North Africa
NADRA – Pakistan National Database & Registration Authority
OFAC - Office of Foreign Assets Control
OSFI - Office of the Superintendent of Financial Institutions
RBA - Reserve Bank of Australia
RBNZ – Reserve Bank of New Zealand
SBP - State Bank of Pakistan
UN - United Nations
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