FATCA stands for Foreign Accounts Tax Compliance Law. It is a law that requires American citizens to provide details of their financial accounts outside the U.S. to the IRS. The legislation was enacted in 2010 as the HIRE law.
Money laundering is the process of making large amounts of money generated by criminal activities as if it appears to have come from a legitimate source. Anti Money Laundering is a complex issue for financial institutions. AML compliance ...
Regulatory Technology, aka RegTech, is the platform that combines regulations with technology. Regtech provides to detect points that not comply with regulations and makes these points compatible. Companies are expected to generate both cost-effective and real-time solutions from risk and compliance units. Regtech is a technology to meet the needs of these units.
Know your Customer (KYC) is the process that businesses do to verify their identity before doing business with their customers. KYC regulations help companies protect themselves from illegal financial transactions.
One of the most important problems in world policy is terrorism financing. Terrorists need money for their activities. Terrorist financing is the financial funding of terrorists.
Anti-Money Laundering (AML) has a wide scope for the prevention of money laundering. AML regulations are the obligations issued by AML regulators.
Financial Crimes are criminal activities carried out by individuals or criminal organizations in order to provide economic benefits through illegal methods. Financial crimes cause harm to people and organizations.