Office of Foreign Assets Control (OFAC)
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 funds.
Politically Exposed Persons: Individuals, or their relatives, who are prominent public functionaries.
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.