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Informal Value Transfer System (IVTS)
🔹 Definition An Informal Value Transfer System (IVTS) is a method of transferring money or value that operates outside the formal financial system, su…
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Identity Verification
🔹 Definition Identity Verification is the process of confirming that an individual is who they claim to be, typically by validating their personally i…
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High-Risk Customer
🔹 Definition A High-Risk Customer is an individual or entity that presents a greater-than-average risk of involvement in money laundering, terrorist f…
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Hawala
🔹 Definition Hawala is an informal and trust-based system of value transfer that operates outside of conventional banking channels. It is widely used …
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High-Risk Jurisdiction
🔹 Definition A High-Risk Jurisdiction refers to a country or territory that is considered to have strategic deficiencies in its Anti-Money Laundering …
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Global Watchlist Screening
🔹 Definition Global Watchlist Screening refers to the process of checking individuals, entities, and transactions against a broad range of internation…
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General Data Protection Regulation (GDPR)
🔹 Definition The General Data Protection Regulation (GDPR) is a comprehensive data protection law enacted by the European Union (EU) that governs the …
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Grey List (FATF)
🔹 Definition The Grey List, officially known as the list of Jurisdictions Under Increased Monitoring, is published by the Financial Action Task Force …
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Guidelines on AML/CFT
🔹 Definition Guidelines on AML/CFT refer to the formal publications issued by regulatory authorities that provide detailed instructions, expectations,…
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Generative AI Fraud
🔹 Definition Generative AI Fraud refers to the use of artificial intelligence models, particularly generative models such as deepfakes, synthetic text…
