Emerging Market Economies
Economies undergoing rapid industrialization and growth, moving toward developed status.
What is an Emerging Market?
GDP stands for in economics.
What is Gross Domestic Product?
AML stands for in money laudnering.
What is Anti-Money Laundering Laws?
Unstable leadership in a country increases this kind of risk.
What is political risk?
This global organization sets AML standards and evaluates compliance.
What is FATF?
Development of industries to increase production.
What is industrialization?
Describes unpredictable swings in financial markets.
What is volatility?
Process verifies a customer’s identity before opening an account.
What is Know Your Customer (KYC)?
Name one economic factor that increases money laundering risk in struggling economies.
What is high unemployment or inflation?
International agency supports police cooperation and AML enforcement across borders.
What is INTERPOL?
Metric that calculates the average income per person in a specific region
What is per capita income?
Process helps reduce reliance on one sector in a country’s economy
What is economic diversification?
Before investing, this type of investigation is used to confirm financial facts.
What is due diligence?
Weak laws and poor enforcement create gaps in this framework.
What is the Regulatory Environment?
Technological advances can increase AML risk when this is not in place.
What is cybersecurity?
Name of the group consisting of the emerging countries.
What is BRICS?
Factor describes shifts in population that influence economies.
What is demographic trends?
Providing funds to support terrorism.
What is Terrorist Financing (TF)?
This system in financial institutions helps detect suspicious financial activity.
What is transaction monitoring?
This banking sector feature is vital to spotting financial crime in emerging markets.
What is Strong Internal Controls or a Robust Banking System?
Name the type of economy undergoing a shift from central planning to market-based systems.
What is a transitional economy?
Changes in what financial measure can impact exports and imports.
What is currency fluctuation?
Term describes individuals in public roles who pose higher corruption risks.
What are Politically Exposed Persons (PEPs)?
Approach that institutions take to identify and mitigate AML vulnerabilities.
What is a Risk-Based Approach?
Name one cultural or social factor that can influence money laundering compliance.
What is Informal Financial Practices or Societal Norms?