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Optical Character Recognition (OCR)
🔹 Definition Optical Character Recognition (OCR) is a technology that converts images of typed, printed, or handwritten text into machine-readable dat…
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Ongoing Due Diligence (ODD)
🔹 Definition Ongoing Due Diligence (ODD) refers to the continuous monitoring and periodic re-assessment of a customer’s identity, risk profile, and tr…
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Office of Foreign Assets Control (OFAC)
🔹 Definition The Office of Foreign Assets Control (OFAC) is an agency of the U.S. Department of the Treasury responsible for administering and enforci…
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Non-Profit Organizations (NPO)
🔹 Definition Non-Profit Organizations (NPOs) are entities established primarily for charitable, religious, educational, cultural, humanitarian, or pub…
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Non-Doc Verification
🔹 Definition Non-Doc Verification refers to the process of verifying a customer’s identity or risk profile without requiring traditional identity docu…
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Neobank
🔹 Definition A Neobank is a fully digital, branchless bank that provides financial services exclusively through mobile apps or web platforms, without …
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NIS2 Directive
🔹 Definition The NIS2 Directive is the updated European Union (EU) cybersecurity legislation, formally titled the Directive on Measures for a High Com…
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NFC Verification
🔹 Definition NFC Verification refers to the use of Near Field Communication (NFC) technology to electronically read and verify identity documents (suc…
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Monitoring
🔹 Definition Monitoring refers to the ongoing process of observing, analyzing, and assessing customer activity, transactions, behaviors, and risk indi…
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Multi-Factor Authentication (MFA)
🔹 Definition Multi-Factor Authentication (MFA) is a security mechanism that requires users to provide two or more independent verification factors to …
