Compliance Glossary

Beneficial Owner is a KYC designation that identifies the natural person who ultimately owns or controls a legal entity, regardless of how ...

A Currency Transaction Report (CTR) is a mandatory AML filing that U.S. financial institutions must submit to FinCEN for each cash ...

Customer Due Diligence (CDD) is a KYC process that financial institutions use to verify client identity, assess the nature of business ...

Enhanced Due Diligence (EDD) is a KYC process that requires financial institutions to apply deeper scrutiny, senior management approval, ...

Know Your Business (KYB) is a due diligence process that financial institutions and regulated firms use to verify the legal status, ...

Know Your Customer (KYC) is a regulatory compliance process that requires financial institutions to verify the identity of their customers, ...

Simplified Due Diligence (SDD) is a KYC risk management procedure that allows regulated firms to apply reduced customer verification ...

A Suspicious Activity Report (SAR) is a regulatory filing that financial institutions submit to government authorities when they detect ...

Suspicious Transaction Report (STR) is a mandatory regulatory filing that financial institutions submit to a financial intelligence unit ...

Ultimate Beneficial Owner (UBO) is a KYC designation that identifies the natural person or persons who ultimately own or control a legal ...