Glossary

Money Laundering Control Act (MLCA)

The Money Laundering Control Act of 1986 is a United States Act of Congress that made money laundering a Federal crime.

Related Terms

  • 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.

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  • Correspondent Banking

    A relationship entered into between a small bank and a big bank in which the big bank provides a number of deposit, lending, and other services.

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