Algocandy

🔹 Definition Underground Banking refers to informal, unregulated financial networks that operate outside formal banking channels to transfer money or …

🔹 Definition A Utility Bill is an official document issued by a service provider—such as an electricity, water, gas, internet, or phone company—that c…

🔹 Definition Terrorist Financing refers to the provision, collection, or movement of funds or other assets—whether from legal or illegal sources—with …

🔹 Definition The Travel Rule is an AML/CFT regulation that requires financial institutions and Virtual Asset Service Providers (VASPs) to transmit spe…

🔹 Definition Transaction Monitoring refers to the ongoing process of reviewing customer transactions—financial or otherwise—to detect suspicious behav…

🔹 Definition A Tax Identification Number (TIN) is a unique number assigned by a tax authority to individuals and legal entities for the purpose of adm…

🔹 Definition A Tax Haven is a jurisdiction or country that offers low or zero tax rates, limited financial disclosure requirements, and strong secrecy…

🔹 Definition Synthetic Identity Fraud is a type of financial crime where fraudsters create a new, fake identity by combining real and fictitious perso…

🔹 Definition A Cash-Intensive Business (CIB) is a type of enterprise that conducts a large volume of transactions in physical cash as part of its norm…

🔹 Definition The Non-Tipping-Off Rule is a legal and regulatory obligation that prohibits a person or institution from informing a customer or third p…