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Proof of Funds (PoF)
🔹 Definition Proof of Funds (PoF) refers to a verifiable document or statement that demonstrates an individual’s or entity’s financial capacity to com…
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Proof of Address (PoA)
🔹 Definition Proof of Address (PoA) refers to a document or verifiable record that confirms a person’s residential address, typically used in id…
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Phone Verification
🔹 Definition Phone Verification is a process used to confirm the ownership and validity of a mobile or landline phone number, typically as part of ide…
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Personally Identifiable Information (PII)
🔹 Definition Personally Identifiable Information (PII) refers to any data that can be used to identify, contact, or locate a specific individual, eith…
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Payment Fraud
🔹 Definition Payment Fraud refers to any unauthorized or deceptive transaction conducted to steal funds, sensitive information, or digital assets duri…
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Operational Risk
🔹 Definition Operational Risk refers to the risk of loss resulting from inadequate or failed internal processes, people, systems, or from external eve…
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Offshore
🔹 Definition Offshore refers to the conduct of financial, business, or legal activities in a jurisdiction other than one’s country of residence …
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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…
