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

  • International Bank Account Number (IBAN)

    The International Bank Account Number (IBAN) is an international standard for identifying bank accounts across national borders in a way that would minimise the risk of propagating transcription errors.

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  • Money Services Business (MSB)

    Money Services Business is a legal term defined by federal law and regulation. Part of a 1999 ruling revising the regulatory definitions of certain non-bank financial institutions for purposes of the Bank Secrecy Act (BSA)....

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