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USEFUL TERMS
- AML-Anti-Money Laundering
- ATF-Anti-Terrorist Financing
- CALP-Caribbean Anti-Money Laundering Program
- CFATF-Caribbean Financial Action Task Force
- CFT-Counter-Financing of Terrorism
- DNFBPs-Designated Non-Financial Business and Professions
- EFT – Electronic Funds Transfers
- FATF- The Financial Action Task Force is an inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing.
- FATF 40+9 recommendations- series of 40+9 recommendations developed by the FATF for universal application. The 40 set out guidelines for AML and the 9 set guidelines for CFT
- FinCEN- Financial Crimes Enforcement Network (United States)
- FINTRAC-The Financial Transactions and Reports Analysis Centre of Canada
- IFSA- International Financial Services Authority
- IMF- International Monetary Fund
- KYC- Know Your Customer
- LCTR- Large Cash Transaction Report: issued to the FIU when deposited or transferred funds are above the jurisdiction’s reporting threshold
- MEV- Mutual Evaluation
- ML-Money Laundering
- MLAT- Mutual Legal Assistance Treaty
- MOU- Memorandum of Understanding
- MSB-Money Services Business
- NAMLC- National Anti- Money Laundering Committee
- NCCT- Non-Co-operative Countries and Territories
- PEPs- Politically Exposed Persons
- REDTRAC- Caribbean Regional Drug Law Enforcement Training Center
- Reporting Threshold- Determined nationally, the minimum amount of money deposited or transferred requiring that a large cash transaction be reported to the FIU.
- SAR- Suspicious Activity Report
- TF- Terrorist Financing
- TRA- Threat and Risk Assessment
- Typologies- Methods and trends used by money launderers and terrorist financers to move their cash
- UNODC- United Nations Office on Drugs and Crime