Know Your Business (KYB)
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.
Electronic funds transfer or EFT refers to the computer-based systems used to perform financial transactions electronically. An EFT is the electronic exchange or transfer of money from one account to another, either within the same...
Office of Foreign Assets Control. A US regulatory Agency that is responsible for monitoring funds held or transferred to illegal entities. The OFAC list is a list of companies/individuals that should be prevented from sending/receiving...