Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime.
Supervisory control and data acquisition (SCADA) is a control system architecture comprising computers, networked data communications and graphical user interfaces for high-level supervision of machines and processes. It also covers sensors and other devices, such as programmable logic controllers, which interface with process plant or machinery.
The Bank Secrecy Act of 1970 (BSA), also known as the Currency and Foreign Transactions Reporting Act, is a U.S. law requiring financial institutions in the United States to assist U.S. government agencies in detecting and preventing money laundering. Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, file reports if the daily aggregate exceeds $10,000, and report suspicious activity that may signify money laundering, tax evasion, or other criminal activities.
The Institute for the Works of Religion, commonly known as the Vatican Bank, is a financial institution situated inside Vatican City and run by a Board of Superintendence which reports to a Commission of Cardinals and the Pope. It is not a private bank, as there are no owners or shareholders, but it has been established in the form of a juridical canonical foundation, pursuant to its Statutes. Since 9 July 2014, its President is Jean-Baptiste de Franssu. The IOR is regulated by the Vatican's financial supervisory body AIF.
A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity in which it engages. KPIs provides a focus for strategic and operational improvement, create an analytical basis for decision making and help focus attention on what matters most.
Know Your Customer (KYC) guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship. The procedures fit within the broader scope of a bank's anti-money laundering (AML) policy. KYC processes are also employed by companies of all sizes for the purpose of ensuring their proposed customers, agents, consultants, or distributors are anti-bribery compliant, and are actually who they claim to be. Banks, insurers, export creditors, and other financial institutions are increasingly demanding that customers provide detailed due diligence information. Initially, these regulations were imposed only on the financial institutions but now the non-financial industry, fintech, virtual assets dealers, and even non-profit organizations are liable to oblige.
HSBC Bank USA, National Association, an American subsidiary of multinational company HSBC, is a bank with its operational head office in New York City and its nominal head office in McLean, Virginia. HSBC Bank USA, N.A. is a national bank chartered under the National Bank Act, and thus is regulated by the Office of the Comptroller of the Currency (OCC), a part of the U.S. Department of the Treasury. The company has 159 branch locations.
Critical infrastructure protection (CIP) is a concept that relates to the preparedness and response to serious incidents that involve the critical infrastructure of a region or nation.
Terrorism financing is the provision of funds or providing financial support to individual terrorists or non-state actors.
A Customer Identification Program (CIP) is a United States requirement, where financial institutions need to verify the identity of individuals wishing to conduct financial transactions with them and is a provision of the USA Patriot Act. More commonly known as know your customer, the CIP requirement was implemented by regulations in 2003 which require US financial institutions to develop a CIP proportionate to the size and type of its business. The CIP must be incorporated into the bank's Bank Secrecy Act/Anti-money laundering compliance program, which is subject to approval by the financial institution's board of directors.
EtherNet/IP is an industrial network protocol that adapts the Common Industrial Protocol (CIP) to standard Ethernet. EtherNet/IP is one of the leading industrial protocols in the United States and is widely used in a range of industries including factory, hybrid and process. The EtherNet/IP and CIP technologies are managed by ODVA, Inc., a global trade and standards development organization founded in 1995 with over 300 corporate members.
A continual improvement process, also often called a continuous improvement process, is an ongoing effort to improve products, services, or processes. These efforts can seek "incremental" improvement over time or "breakthrough" improvement all at once. Delivery processes are constantly evaluated and improved in the light of their efficiency, effectiveness and flexibility.
The Commercial Import Program, sometimes known as the Commodity Import Program (CIP), was an economic aid arrangement between South Vietnam and its main supporter, the United States. It lasted from January 1955 until the Fall of Saigon in 1975 and the dissolution of South Vietnam following the invasion by North Vietnam after US forces had withdrawn from the country due to the 1973 cease-fire agreement.
Industrial Control System (ICS) Cybersecurity is the prevention of interference with the proper operation of industrial automation and control systems. These control systems manage essential services including electricity, petroleum production, water, transportation, manufacturing, and communications. They rely on computers, networks, operating systems, applications, and programmable controllers, each of which could contain security vulnerabilities. The 2010 discovery of the Stuxnet worm demonstrated the vulnerability of these systems to cyber incidents. The United States and other governments have passed cyber-security regulations requiring enhanced protection for control systems operating critical infrastructure.
Open Automated Demand Response (OpenADR) is a research and standards development effort for energy management led by North American research labs and companies. The typical use is to send information and signals to cause electrical power-using devices to be turned off during periods of high demand.
Financial services in Gibraltar refers to the services provided in the British Overseas Territory of Gibraltar by the finance industry: banks, investment banks, insurance companies, credit card companies, consumer finance companies, government-sponsored enterprises, and stock brokerages.
Corruption in Azerbaijan is considered high and occurs at all levels of government. In Transparency International's 2021 Corruption Perceptions Index, which ranked 180 countries from those perceived to be least corrupt to those perceived to be very corrupt, Azerbaijan was ranked 128, compared to 45 for Georgia and 58 for Armenia. In the Azerbaijani laundromat money-laundering scheme, $2.9 billion was paid to foreign politicians and Azerbaijani elites by companies linked to Azerbaijani ruler Ilham Aliyev, government ministries, and the International Bank of Azerbaijan between 2012 and 2014. Azerbaijan is a member of Group of States Against Corruption (GRECO) and OECD's Anti-Corruption Network.
The Indonesian Financial Transaction Reports and Analysis Center or INTRAC or PPATK is a government agency of Indonesia, responsible on financial intelligence. The agency is formed in 2002 to counter suspected money laundering and provide information on terrorist financing.
