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Travel Rule
🔹 Definition The Travel Rule is an AML/CFT regulation that requires financial institutions and Virtual Asset Service Providers (VASPs) to transmit spe…
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Transaction Monitoring
🔹 Definition Transaction Monitoring refers to the ongoing process of reviewing customer transactions—financial or otherwise—to detect suspicious behav…
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Tax Identification Number (TIN)
🔹 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…
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Tax Haven
🔹 Definition A Tax Haven is a jurisdiction or country that offers low or zero tax rates, limited financial disclosure requirements, and strong secrecy…
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Synthetic Identity Fraud
🔹 Definition Synthetic Identity Fraud is a type of financial crime where fraudsters create a new, fake identity by combining real and fictitious perso…
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Cash-Intensive Business
🔹 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…
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Non-Tipping-Off Rule
🔹 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…
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Suspicious Transaction Report (STR)
🔹 Definition A Suspicious Transaction Report (STR) is a formal notification submitted by a reporting entity to the relevant Financial Intelligence Uni…
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Suspicious Activity Report (SAR)
🔹 Definition A Suspicious Activity Report (SAR) is an official document submitted by financial institutions or obligated entities to a regulatory auth…
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Smurfing
🔹 Definition Smurfing is a money laundering technique in which large sums of illicit money are broken down into smaller, less suspicious amounts and d…
