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