Any public or private bank, credit union, or savings and loan, subject to national and state banking laws, and capable of both accepting deposits and making loans. These institutions collect funds from the public or other institutions, and invest them in financial assets.
The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business. A key list to be scanned...
Know Your Business is the due diligence review of your business and industry which when reviewed against Money Laundering techniques allows you to develop policies and assess suspicious activities or transactions.