Glossary

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.

Related Terms

  • Electronic Funds Transfer (EFT)

    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...

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  • Routing Number

    The routing number (also referred to as RTN, routing transit number, ABA or bank routing number) is a nine-digit numeric code printed on the bottom of checks. This number is used to facilitate the electronic...

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