Compliance
Top > Transversal > People and Process > Compliance
- 📁 Compliance Solutions (6)
- AML - Anti-money laundering (AML) refers to the laws, regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. 🌐
- BSA - The Bank Secrecy Act of 1970 (BSA), also known as the Currency and Foreign Transactions Reporting Act, is a U.S. law requiring financial institutions in the United States to assist U.S. government agencies in detecting and preventing money laundering. 🌐
- CDD - Customer Due Dilligence (CDD) information comprises the facts about a customer that should enable an organisation to assess the extent to which the customer exposes it to a range of risks. These risks include money laundering and terrorist financing. 🌐
- CMF - Combatting the Financing of Terrorism (CFT) 🌐
- Dodd Frank - The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in 2010, created financial regulatory processes to limit risk by enforcing transparency and accountability. 🌐
- FIPS 140-2 - The Federal Information Processing Standard Publication 140-2, is a U.S. government computer security standard used to approve cryptographic modules. 🌐
- GDPR - The General Data Protection Regulation (GDPR) is a regulation in EU law on data pertaining protection, privacy, and its transfer outside the EU and the EEA. 🌐
- KYC - Know Your Customer (KYC) is a series of guidelines in financial services that require institutions to verify the identity, suitability, and risks involved with maintaining a business relationship. The procedures fit within the broader scope of a bank's AML policy. 🌐
- NYDFS - The New York State's Department of Financial Services (NYDFS) came into effect 2017. It requires all financial services companies that fall under NYDFS supervision to implement security measures in order to protect themselves against cyber attacks. 🌐
- PCI DSS - The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard for organizations that handle branded credit cards from the major card schemes. It is in effect since 2004. 🌐
- PEP - A Politically Exposed Person (PEP) is someone who has been appointed by a community institution, an international body or a state, to a high-profile position. Under anti-money laundering regulations, the main aim of applying additional scrutiny to work involving PEPs is to mitigate the risk that the proceeds of bribery and corruption may be laundered, or assets otherwise stripped from their country of origin. 🌐
- PII - Personal Identifiable Information (PII) is the term used in the United States for what is referred as personal data in Europe within the context of the GDPR legislation. 🌐
- PSD2 - The PSD2 (Payments Service Providers Directive Version Two) is a European regulation for electronic payment services enacted in 2013. It seeks to make payments more secure via the Strong Customer Authentication (SCA) requirement, and boost innovation and help banking services adapt to new technologies, via the Open Banking requirement. 🌐
- Personal Data - Information that relates to an identified or identifiable individual. Information which has had identifiers removed or replaced in order to pseudonymise the data is still personal data for the purposes of GDPR. 🌐
- SAR - A Suspicious Activity Report (SAR) is a document that financial institutions, and those associated with their business, must file whenever there is a suspected case of money laundering or fraud. 🌐
- SOX 2002 - The Sarbanes-Oxley (SOX) Act of 2002 s a law the U.S. Congress passed on that year to help protect investors from fraudulent financial reporting by corporations. 🌐
Before You Leave
🤘 Subscribe to my 100% spam-free newsletter!