High Risk Jurisdiction

Underground banking or informal value transfer systems often associated with ethnic groups from the Middle East, Africa or Asia, and commonly involves the transfer of values among countries outside of [..]

Anti-Money Laundering Compliance Officer- AMLCOS are specially designated by management to provide oversight, assistance and advice regarding AML and Sanctions requirements for specific business, func [..]

Negotiable instruments that accord ownership of a company to the person who possesses the share certificate. These shares have a high level of anonymity and are easily negotiable.

The natural person who ultimately owns or controls an account through which a transaction is being conducted. It also incorporates those persons who exercise ultimate effective control over a legal pe [..]

Black Market Peso Exchange: illegal, unregulated currency exchange which derives its name from a complex money laundering scheme used by Columbian drug cartels. The BMPE begins with the drug Cartel in [..]

The Bank Security Act of 1970.

Order by a court or administrative agency prohibiting a person or business from continuing an activity.

Section 326 of the USA Patriot Act requires that each financial institution develop and implement a Customer Identification Program (CIP) that establishes procedures for verifying the identity of each [..]

A Currency Transaction Report must be filed in the U.S. for each transaction in currency (deposit, withdrawal, exchange, or other payment or transfer) of more than $10,000. While CTRs are required in [..]