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MiCA Regulation
🔹 Definition The MiCA Regulation, short for Markets in Crypto-Assets Regulation, is a comprehensive legal framework adopted by the European Union (EU)…
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MRZ Code (Machine Readable Zone)
🔹 Definition MRZ Code, or Machine Readable Zone, refers to the section of a passport or identity document that contains standardized, encoded informat…
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Legal Risk
🔹 Definition Legal Risk refers to the possibility of financial loss, regulatory penalties, or reputational damage resulting from legal actions, unenfo…
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Layering
🔹 Definition Layering is the second stage of the money laundering process, where illicit funds are deliberately moved, disguised, or transformed throu…
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Liveness Detection
🔹 Definition Liveness Detection is a biometric security technique used to distinguish between a real, live human being and a fake or spoofed biometric…
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Knowledge
🔹 Definition In the context of anti-money laundering (AML) and counter-terrorism financing (CFT), Knowledge refers to a mental state of awareness in w…
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Know Your Vendor (KYV)
🔹 Definition Know Your Vendor (KYV) is the process of identifying, verifying, and assessing the risk profile of vendors or service providers a company…
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Know Your Supplier (KYS)
🔹 Definition Know Your Supplier (KYS) is the process of vetting, verifying, and continuously monitoring third-party suppliers to ensure they are legit…
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Know Your Seller (KYS)
🔹 Definition Know Your Seller (KYS) is the process of verifying the identity, legitimacy, and compliance risk of individuals or entities who offer goo…
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Know Your Merchant (KYM)
🔹 Definition Know Your Merchant (KYM) is the process of verifying the identity, legitimacy, business activities, and risk profile of a merchant before…
