AML Acronyms

Question 1

AML

Answer 1

Anti- Money Laundering

Question 2

BSA

Answer 2

Bank Secrecy Act

Question 3

CIP

Answer 3

Customer Identification Program

Question 4

CRR

Answer 4

Customer Risk Rating

Question 5

CTR

Answer 5

Currency Transaction Reporting

Question 6

CDD

Answer 6

Customer/Client Due Diligence

Question 7

EDD

Answer 7

Enhanced Due Diligence

Question 8

*FINCEN

Answer 8

Financial Crimes Enforcement Network

Note: FINCEN in America is
NCA (National Crimes Agency) in UK
And FINTRAC in Canada

Question 9

HRC

Answer 9

High Risk Customer

Question 10

KYC

Answer 10

Know your Customer

Question 11

LOB

Answer 11

Line of Business

Question 12

MIL

Answer 12

Money Instrument Log

Question 13

ML

Answer 13

Money Laundering

Question 14

NSL

Answer 14

National Security Letter

Question 15

OCC

Answer 15

Office of Controller of Currency

Question 16

*OFAC

Answer 16

Office of Foreign Assets Control

Question 17

PEP

Answer 17

Politically Exposed Persons

Question 18

SAR

Answer 18

Suspicious Activity Reporting

Question 19

CAR

Answer 19

Continuous Activity Reporting

Question 20

CFT

Answer 20

Combating the Financing of Terrorism

Question 21

*FRB

Answer 21

Federal Reserve Board

Question 22

MSB

Answer 22

Money Service Businesses

Question 23

MLA

Answer 23

Money Laundering Act

Question 24

FIU

Answer 24

Financial Intelligence Unit

Question 25

LEA

Answer 25

Law Enforcement Agency

Question 26

*FATF

Answer 26

Financial Action Task Force

Question 27

BO

Answer 27

Beneficial Ownership

Question 28

AMLP

Answer 28

Anti-Money Laundering Program

Question 29

STR

Answer 29

Suspicious Transaction Report

Question 30

MLRO

Answer 30

Money Laundering Reporting Officer

Question 31

CTF

Answer 31

Counter Terrorism Financing

Question 32

ATR

Answer 32

Automatic Transaction Reporting