Glossary
The Basics
Risky Business
Reporting, Reporting, Reporting?
Documentation Nation
100

The acronym PEP is short for this term.

What is a Politically Exposed Person?

100

This is the means of cleaning illegally obtained funds through a financial institution. 

What is Money Laundering?

100

Client Risk, Geographical Risk and Transaction Risk.

What are the categories of risk?

100

The abbreviation ISAR is short for this term.

What is an Internal Suspicious Activity Report?

100

This form is known as the Customer Risk Assessment form. 

What is Appendix 1?

200

The abbreviation AMLA is short for this term. 

What is the Anti-Money Laundering Authority?

200

This is the act of sending of transactions through multiple financial institutions to limit tracking.

What is Layering?

200

This is valid identification but cannot be used to verify identity.

What is a birth certificate?

200

I saw something suspicious... What should I do?

What is contact your Compliance Officer?

200

You fill out this form when you need to make an ISAR.

What is Appendix 11?

300

The abbreviation CFATF is short for this term. 

What is the Caribbean Finacial Action Task Force?

300

The stage of money laundering that illegal funds are introduced into the financial system.  

What is Placement?

300

______________screening and _________ screening. 

What are the two types of Client Screening? 

300

The following is considered a _________ ?

"Unknown sources of funds of transactions"

What is a type of suspicious transaction?

300

Appendix 10 has this title. 

What is Red Flags?

400

The acronym CDD stands for.

What is Customer Due Diligence ? 

400

An approach that involves thoroughly evaluating the potential risks that CIREL may encounter.  

What is a Risk-Based Approach ?

400

The continuous observation of client transactions.

What is Ongoing Transaction Monitoring?

400

This is act of alerting someone that they are under investigation by law enforcements.

What is Tipping Off? 

400

An agent can find a list of approved persons for certification of customer information in this form.

What is Appendix 8?

500

The acronym MLFTA is short for this term.

What is the Money Laundering and Financing of Terrorism (Prevention and Control) Act ?

500

Risk Management and Mitigation.

What is one of the key elements of CIREL' 's RBA? 

500

This List comprises of countries that are under increased monitoring by the FATF.

What is the Grey List? 

500

What is the length of time that CIREL will retain documents.

What is 5 years or longer as a period if it is requested by the AMLA or other higher authority?

500

These forms are use to collect KYC information.

What are Appendices 3, 4, 5 and 6?