Algocandy

🔹 Definition Multi-Accounting refers to the unauthorized or deceptive practice of a single individual or entity creating and operating multiple user a…

🔹 Definition A Money Mule is an individual who transfers or moves illegally obtained funds on behalf of someone else—often a criminal or organized cri…

🔹 Definition The Money Laundering Reporting Officer (MLRO) is the designated individual within a regulated entity—such as a financial institution, cor…

🔹 Definition The MiCA Regulation, short for Markets in Crypto-Assets Regulation, is a comprehensive legal framework adopted by the European Union (EU)…

🔹 Definition MRZ Code, or Machine Readable Zone, refers to the section of a passport or identity document that contains standardized, encoded informat…

🔹 Definition Legal Risk refers to the possibility of financial loss, regulatory penalties, or reputational damage resulting from legal actions, unenfo…

🔹 Definition Layering is the second stage of the money laundering process, where illicit funds are deliberately moved, disguised, or transformed throu…

🔹 Definition Liveness Detection is a biometric security technique used to distinguish between a real, live human being and a fake or spoofed biometric…

🔹 Definition In the context of anti-money laundering (AML) and counter-terrorism financing (CFT), Knowledge refers to a mental state of awareness in w…

🔹 Definition Know Your Vendor (KYV) is the process of identifying, verifying, and assessing the risk profile of vendors or service providers a company…