AML Officer's Dictionary
Clear, practitioner-friendly explanations of the language used across anti-money laundering, sanctions, KYC, investigations, and financial crime compliance.
50 Percent Rule
OFAC's 50 Percent Rule treats an entity as blocked when one or more blocked persons own 50 percent or more of it in aggregate.
Access Controls
Access controls limit who can view, create, change, approve, export, or delete systems and data.
Account Analysis
Account analysis reviews an account's ownership, purpose, funding, transactions, counterparties, and use over time.
Account Closure
Account closure is the formal termination of a specific financial account and the customer's ability to use it.
Account Opening
Account opening is the operational creation of a financial account after required customer and product checks are completed.
Account Takeover
Account takeover is unauthorized control of an existing account using stolen credentials, social engineering, malware, or compromised devices.
Accounting Services
Accounting services prepare, examine, or advise on financial records, reporting, tax, controls, and business transactions.
ACH
The Automated Clearing House is a batch electronic network for account-to-account credits and debits in the United States.
ACH Abuse
ACH abuse misuses automated clearing payments for unauthorized debits, fraudulent credits, account testing, or movement of illicit funds.