Azərbaycan Respublikası Mərkəzi Bankı Banklara Nəzarət Departamenti



Yüklə 4,9 Kb.

səhifə23/36
tarix14.09.2018
ölçüsü4,9 Kb.
1   ...   19   20   21   22   23   24   25   26   ...   36

Supervision Department - AML/CFT Training 
Definitions GlosSTRy
 
2
 
A
 
Account Monitoring Order 
In the United Kingdom and several other countries, an order from a government authority requiring a 
financial institution to provide transaction information on a suspect account for a specified time period. 
Affidavit 
A written statement given under oath before an officer of the court, notary public, or other authorized 
person. It is commonly used as the factual basis for an application for a search, arrest or seizure warrant. 
Alternative Remittance System (ARS) 
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 the 
formal banking system. The remittance entity can be an ordinary shop selling goods that has an 
arrangement with a correspondent business in another country. There is usually no physical movement of 
currency and a lack of formality with regard to verification and record- keeping. The money transfer takes 
place by coded information that is passed through chits, couriers, letters or faxes, followed by telephone 
confinancial institutionations. Almost any document that carries an identifiable number can be used by the 
receiver to pick up the values in the other country. The systems are referred to by different names 
depending upon the country: Hawala (an Arabic word meaning ―change‖ or ―transform‖), Hundi (a Hindi 
word meaning ―collect‖), Chiti banking (referring to the way the system operates), Chop Shop banking 
(China), and Poey Kuan (Thailand). 
Anti-Money Laundering International Database (AMLID) 
A compendium of analyses of anti-money laundering laws 
and regulations, including two general classes of money laundering control measures domestic laws and 
international cooperation—as well as information on national contacts and authorities. A secure, 
multilingual database, AMLID is an important reference tool for law enforcement officers involved in 
cross-jurisdictional work. 
Anti-Money Laundering International Database (AMLID) 
A compendium of analyses of anti-money laundering laws 
and regulations, including two general classes of money laundering control measures—domestic laws and 
international cooperation as well as information on national contacts and authorities. A secure, multilingual 
database, AMLID is an important reference tool for law enforcement officers involved in cross-
jurisdictional work. 
 
 


Supervision Department - AML/CFT Training 
Definitions GlosSTRy
 
2
 
At a minimum, the anti-money laundering program should include: 
1.
 
Written internal policies, procedures and controls;   
2.
 
A designated AML compliance officer;   
3.
 
On-going employee training; and   
4.
 
Independent review to test the program.   
Arrest Warrant 
A court order directing a law enforcement officer to seize and detain a particular person and require them to 
provide an answer to a complaint or otherwise appear in court. 
Asia/Pacific Group on Money Laundering (APG) 
A Financial Action Task Force (FATF)-style regional body consisting of jurisdictions in the Asia/Pacific 
Region. 
Asset Manager 
A person appointed through a written contract by a company 
or trust to direct the entity‘s investment program. The program can be a fully discretionary account, or the 
contract can impose limitations on it. Fees to the asset manager can be based on performance achieved, 
trading commissions or a percentage of the valuation of the estate under his or her management. High fees 
and a close relationship with the owners or beneficiaries can expose the asset manager to potential conflicts 
between a duty to report unusual or suspicious activity and the fiduciary duty to the client. 
Asset Protection 
A process that includes reorganizing how assets are held so as to make them less vulnerable should a claim 
be made against a person. Asset protection is also a term used by tax planners for measures taken to protect 
assets from taxation in other jurisdictions. 
Asset Protection Trusts (APTs) 
A special form of irrevocable trust usually created (i.e., settled) offshore for the principal purposes of 
preserving and protecting part of one‘s wealth from creditors. Title to the asset is transferred to a person 
named the trustee. APTs are generally used for asset protection and are usually tax neutral. Their ultimate 
function is to provide for the beneficiaries. Some proponents advertise APTs as allowing foreign trustees to 
ignore U.S. court orders and to simply transfer the trust to another jurisdiction in response to legal action 
threatening the trust‘s assets (so-called ―flying trusts‖). 
 


Supervision Department - AML/CFT Training 
Definitions GlosSTRy
 
2
 
Automated Clearing House (ACH) 
An electronic banking network that processes large volumes of both credit and debit transactions that 
originate in batches. ACH credit transfers include direct deposit payroll payments and payments to 
contractors and vendors. ACH debit transfers include consumer payments on insurance premiums, 
mortgage loans and other kinds of expenses. The system is used for bulk orders made days in advance—for 
example, a large corporation‘s entire payroll. Both governments and commercial sectors can use the ACH 
system. The ACH system was designed to transfer a high volume of low-dollar domestic transactions, 
which pose lower money laundering risks. Nevertheless, the ability to send high-dollar and international 
transactions through the ACH may expose financial institutions to higher money laundering risks. Financial 
Institutions without a robust AML monitoring system may be exposed to additional risk, particularly when 
accounts are opened over the Internet without face-to-face contact. 
B
 
Bank Draft 
Vulnerable to money laundering because it represents a reputable international monetary instrument drawn 
on a reputable institution, and is often made payable, in cash, upon presentation and at the issuing 
institution‘s account in another country. 
Bank for International Settlements (BIS) 
An international organization that serves as a bank for central banks and which fosters international 
monetary and financial cooperation with the purpose of attaining stability in the world economy. It hosts the 
Secretariat of the Basel Committee on Banking Supervision. The Committee has formulated broad 
supervisory standards and guidelines on Know Your Customer issues. 
Bank Secrecy 
Refers to laws and regulations in countries that prohibit banks from disclosing information about an 
account—or even revealing its existence—without the consent of the account holder. Impedes the flow of 
information across national borders among financial institutions and their supervisors. Recommendation 4 
of FATF‘s 40 Recommendations of 2003 states that countries should ensure that secrecy laws do not inhibit 
the implementation of the FATF Recommendations. 
 
 
 
 




Dostları ilə paylaş:
1   ...   19   20   21   22   23   24   25   26   ...   36


Verilənlər bazası müəlliflik hüququ ilə müdafiə olunur ©genderi.org 2019
rəhbərliyinə müraciət

    Ana səhifə