Dictionary of

Fraud Terms

  • First Party Fraud is a form of financial crime committed by someone who has an authorized relationship with an institution, such as a bank. In these cases, the fraud is perpetrated by the person with legitimate access to the system or services in question. Examples of 1st Party Fraud include using a stolen credit card, writing unauthorized checks, and using credentials to initiate wire transfers. These scenarios are difficult to prevent given the legitimate access of the perpetrator. Banks must use both active measures, such as fraud detection tools, as well as passive measures, such as limiting the amount of money that can be transferred without additional approval, to protect both their customers and their systems.
  • Three-D Secure (3DS) is an added layer of security used in online credit and debit card transactions that requires a two or three-step authentication process to verify and validate the cardholder's identity. This authentication consists of a combination of the cardholder's information—such as the cardholder's billing address, the cardholder's card number, the cardholder's CVV2 code, and other data stored in the credit and debit card networks—as well as OTP (One-Time Password) sent to the cardholder's registered mobile device. This means that there is an extra step for customers to take before transactions are processed—in almost all cases, this helps to reduce the chance of fraudulent activities since it helps ensure the cardholder's identity is truly verified. The 3DS system also offers a greater level of payment security for merchants since the extra layer of authentication can help to reduce fraud, which in turn reduces chargebacks associated with fraudulent payments.
  • Third-party fraud is when an outside party, not the actual account holder of a financial or other sensitive institution, uses the account holder's personal information to commit fraud. This can happen through the theft of data, skimming, or other nefarious methods. The fraudster could use the stolen data to access and use the account illegally, make purchases with the account, or even present fraudulent documentation to open a new account. Other variations of third-party fraud may involve false identities, which is when a scam artist takes over someone’s identity to open up credit accounts or commit other fraud. In any of these cases, the account holder may be the unknowing victim of a more experienced fraudster.
  • 419 Fraud is a type of scam that takes the form of an email, fax, or letter from a fictitious individual or organisation claiming to have access to unclaimed funds or inheritances. The so-called funds require the recipient to pay some kind of advance fee or commission to facilitate the release of the funds or inheritance. Recipients are often asked to consult a lawyer or money transfer service who will process the transaction on their behalf. Unfortunately, these funds and inheritances don't exist and the money sent is gone forever. This form of fraud is especially insidious because the large sums of money promised can often be sensible investments that victims cannot resist. Victims should be suspicious of such messages, especially if large sums of money are promised for seemingly no commitment.
  • A/B Testing is an effective method for measuring the success of an online marketing campaign or website design. A/B Testing works by dividing users into two groups, with each group being exposed to a different version of the page, design or message. The results from each group are then compared to determine which version is more successful. Since users are exposed to different versions, A/B Testing allows marketers to identify which versions are more effective, and tailor their marketing initiatives accordingly. A/B Testing is a powerful way to measure the performance of a website, various design elements, and marketing campaigns. Therefore, it can be used to increase conversions and optimize user experience.
  • Access control is a security measure designed to protect against unauthorized access to a system, its data, and/or its resources. It is typically made up of a combination of authentication, authorization, and auditing. Authentication is the process of verifying that a user is who they say they are, typically via a username and password. Authorization is the process of granting users access to the systems, data, and/or resources based on their authentication. Auditing is the process of gathering information about who is using the system and what they are doing while they use the system. Access control measures ensure the security of the system and its data, by limiting the access and activities of users with only the necessary permissions.
  • An Access Control List (ACL) is a collection of rules and restrictions used to define a security policy for a system or network. An ACL is typically associated with a set of users and/or resources, with each rule granting users access to specific resources and operations. The ACLs define the levels of access that a user has and what group permissions they may have. ACLs are typically implemented at the application, network and operating system level and dictate the specific levels of access that a user has; such as read, write, delete or execute access. ACLs are important security tools as they help protect networks and data from unauthorized access and can help enforce appropriate user access controls.
  • Access control service is an important security system that enables an organization to manage access to its data and other digital resources. It is typically used by an administrator to create, view, and manage user access rights for specific applications or systems. Generally, access control service enables organizations to control who has access to their systems and when access is granted or denied. It also allows organizations to set up access levels that regulate who can access their data and assets. Additionally, access control services provide a variety of security mechanisms such as authentication, authorization, and encryption to ensure that only authorized users have access to data and resources. Through the use of access control service, organizations can protect their data and assets from unauthorized access, thus boosting their data security.
  • management is the process of managing and controlling user access to systems and data, typically through granting and revoking permissions. Access management includes identifying, authenticating and authorizing users as well as monitoring, logging and auditing user activity to ensure compliance with security policies. Access management also includes regularly patching and updating systems and software, using two-factor authentication and providing appropriate security training across an organization. By implementing these procedures, businesses can ensure the secure management of internal and external user access to the company’s communications, networks and systems.
  • Access matrix is a security model used to categorize and describe how users interact with resources in a system; it provides the foundation for access control and authorization decisions. The matrix defines all entities in the system, such as users and resources, and allows for the creation of permissions that regulate how users can interact with a particular resource. An access matrix contains individual entries for each user in the system. Each entry consists of a row and column that contains the user's set of permissions for a specific resource. By utilizing an access matrix, a system administrator can quickly determine who has access to a resource and what the level of access is for that user. The matrix is also used to track changes to user access, audit trails, and log who has access and when. This gives valuable insight into user activity and security events.
  • Account Harvesting is an attack technique where an attacker attempts to gain access to a user's accounts on different web services by obtaining their login credentials or other private information. This can be done by using various methods, such as phishing, spoofing, brute force attacks, and credential stuffing. An attacker may target multiple accounts at once, and often times, a user's account information is acquired from one source and then used to try to gain access to other accounts. This type of attack is common on social media and other websites, as it can be done without requiring physical access to a device. As such, it requires vigilance on the part of users to protect their accounts from this type of attack. Additionally, organizations and businesses need to employ tools and measures to protect their systems from account harvesting attacks.
  • Account Takeover Fraud (ATO) is a type of fraud that occurs when an attacker gains access to and takes control of an account that belongs to another person. This type of fraud is also known as identity theft. The attacker can use the account to transfer funds, make fraudulent purchases, or use the data stored within the account to gain access to other accounts. ATO fraud can occur online, since attackers can use stolen login credentials to gain access to an account, or offline, when attackers may have physical access to the account holder's information. The best way to protect yourself from ATO fraud is to use strong passwords, enable two-factor authentication, and regularly monitor your accounts for any signs of unauthorized access.
  • ACK Piggybacking is a form of message optimization performed in Transmission Control Protocol (TCP). It is a technique used to reduce the number of packet transmissions between two nodes. It involves the sending of an acknowledgment (ACK) packet along with new data, thereby piggybacking the acknowledgements on the data packet. This reduces the need for additional acknowledgements, allowing for faster and more efficient communications. For example if a node requires acknowledgment for all packets sent, it would need to send a dedicated ACK packet for each packet sent, thus doubling the number of transmissions. ACK Piggybacking however allows it to respond with a single packet containing both the new data and the ACK, reducing the number of transmissions and increasing transmission speed.
  • An Acquirer (also known as an Acquiring Bank) is a financial institution that processes credit or debit card payments on behalf of a merchant. Acquirers verify customer information and merchant services such as merchant accounts. Once they have authorized a transaction, they transfer the payment to the merchant’s bank account or credit the customer’s account. Acquirers are also responsible for verifying transaction security and preventing fraud. They protect their banks and customers by taking steps such as monitoring customer accounts, scanning for unusual behavior, and looking for suspicious transactions. Acquirers use technology such as encryption and tokenization to safeguard customer data. Acquirers also maintain relationships with card issuers such as Visa and Mastercard to ensure transactions are handled properly.
  • Active Authentication is a type of authentication that utilizes additional layers of security beyond username and password. These layers of security can include biometrics, two-factor authentication (2FA), or identity verification involving additional forms of unique identification. It is an important security measure for online businesses and digital applications, as it helps to ensure the authenticity of users. Active Authentication helps protect the user and the service provider from potential fraudulent activities, such as unauthorized access of user accounts, identity theft and data breaches.
  • Activity monitors are tools used by cybersecurity experts to detect suspicious behavior on a system. They are used to detect, log, and alert on any activity that is deemed out of the ordinary. Activity monitors work by collecting data from network traffic and log files to detect unusual activity. They may include the use of traffic analysis, machine learning algorithms, and anomaly detection techniques to detect malicious activity and alert security teams of any potential intrusions. Activity monitors are invaluable to any cybersecurity professional as they can help identify and prevent malicious actors from entering a system and conducting malicious activities.
  • Address Resolution Protocol (ARP) is a networking protocol used to map a physical address, such as a MAC address, to an IP address. ARP is a critical part of network communication, enabling devices to access the network by sending a broadcast message containing the MAC address of the target device. The target device then responds with its MAC address, thus allowing the two devices to establish communication. As a critical part of network operation, securing ARP is a key step for any Cybersecurity Expert in order to ensure the safety of the network from malicious actors. ARP spoofing, an attack where attackers substitute their own MAC address for the target device, is one of the biggest threats that can be mitigated by implementing proper security protocols.
  • Administrative accounts are a type of user account that provides users with full access and control over a computer system or network. These accounts are essentially superuser accounts that allow authorized users to make system-wide changes, create and modify user accounts, view, modify and delete files, and configure system settings. Administrative accounts are designed to be used in secured environments and are typically protected with strong passwords and two-factor authentication. As the name suggests, the administrative accounts should only be used by those with the appropriate permissions and privileges in order to prevent malicious access and attacks.
  • Advance-Fee Fraud is a type of financial scam, wherein the perpetrator requests personal information and requests a fee (usually of a large amount) to be paid up front before they can process a loan, inheritance, lottery winnings or otherwise obtain monetary gain. It should be noted that this fee is often non-refundable. This type of fraud preys on people with limited resources or low level of financial literacy. It often makes use of false identities, contact details, and fake documents in order to gain a victim's trust. Victims are usually approached via emails, phone calls or even via social media. It can be difficult to identify this fraud as perpetrators have become adept at disguising their schemes, but common signs include requests for payment or for personal information such as bank accounts or credit card numbers.
  • Advanced Encryption Standard (AES) is an encryption algorithm used to protect sensitive data, such as passwords and files, from unauthorized access. AES uses symmetric-key cryptography, meaning the same key is used to both encrypt and decrypt the data. AES has been adopted by the U.S. government and is used worldwide for encryption. AES is a strong, secure algorithm that provides a high level of protection for sensitive data, as it uses a 128-bit, 192-bit, or 256-bit data encryption key. This makes it nearly impossible for unauthorized individuals to access the data, as it is highly unlikely that they would be able to guess the key. Furthermore, AES is immune to brute force attacks, making it one of the most secure encryption methods available.
  • Advanced Persistent Threats (APT) are sophisticated cyber threats launched by a malicious actor (attacker) aiming to gain or maintain access to target network systems over a prolonged period of time. APTs are usually characterized by the lack of initial awareness of the attacker’s presence, the ability to quickly adapt to a changing environment, and the development of advanced tactics and techniques in order to remain hidden on the target system and successfully carry out the attack. Common elements of APT include attacking multiple points of a network, use of encrypted communication channels, and the use of a variety of techniques such as social engineering, malicious software, and data exfiltration. APTs are highly organized, complex, and difficult to detect and respond to. Taking these threats seriously and acting upon them is essential for an organization to successfully protect itself from falling victim to an APT attack.
  • Advanced Threat Protection (ATP) is a cybersecurity solution that is used to protect a system from advanced cyber threats and attacks. It uses advanced technologies such as machine learning, analytics, and heuristics to detect and analyze complex threats. This ensures that sophisticated threats can be identified and blocked before they can cause any harm to the system. ATP solutions combine prevention, detection, and response capabilities to provide complete protection against malicious activity. They are capable of detecting malicious activity both on-premise and in the cloud, and can perform remediation automatically to help organizations mitigate the impact of attacks.
  • Advanced Threat Protection (ATP) is an umbrella term used to describe a set of security measures used to protect against sophisticated threats. These threats can come in the form of malicious actors, advanced malware, and zero-day exploits. The goal of ATP is to detect, respond to, and mitigate these threats in order to protect organizations from costly incidents. ATP solutions often include threat intelligence, sandboxing, automation, and orchestration capabilities. It also includes technologies like root cause analysis and user behavior analytics to detect attacks that have already bypassed security controls. ATP solutions are invaluable in today’s cyber landscape, as they enable organizations to proactively detect, respond, and ultimately mitigate advanced threats.
  • Adware is a type of software designed to display unwanted advertisements on a user’s computer or mobile device. Typically, adware is downloaded along with programs or apps, and will pop up in the form of banner ads, pop up windows, video ads, or text links. Adware is typically used to generate revenue for its developers and can be difficult to remove from a device. It is often installed without knowledge or consent and can even track a user’s activities, creating a privacy risk. Cybersecurity experts often advise users to download antivirus and anti-adware software in order to protect against the installation of undesirable adware.
  • An affidavit is a voluntary, sworn statement made under oath, used as written evidence in court proceedings and other legal matters. It is a sworn statement that is signed by an affiant (the person making the statement), witnessed by a notary public or other judicial officer, and is usually certified with a court seal. Affidavits are used to provide evidence and to prove a certain fact in a legal case. It can also be used to provide a witness account to support a claim or to refute an allegation.
  • AI (Artificial Intelligence) is an area of computer science which focuses on creating machines that can think and act intelligently, and act like humans. AI is used in a range of sectors such as finance, manufacturing, cyber security and fraud prevention. AI systems analyze data quickly and accurately, and can detect fraud or malicious activity as it happens. AI can also help identify new patterns, keeping up with the ever-evolving ways cyber criminals work. It can also be used to detect unusual behavior, predict customer preferences and make decisions. AI can help determine when steps must be taken to prevent fraud, provide customer scores and identify risky transactions. AI amplifies human expertise, makes processes more efficient and reduces human effort. This enables organizations to detect, prevent and manage fraud in a more proactive and efficient way.
  • An Alert is a notification that is generated when a suspicious financial transaction is identified. It provides key information related to the suspicious transaction to enable financial institutions and other authorities involved to take appropriate action. An alert may be triggered when transactions fall outside of established typologies, thresholds, or transaction patterns. Alerts can be used to detect potential instances of money laundering, terrorist financing, and other criminal activities.
  • Allow list is a cybersecurity tool that allows users to create a list of permitted activities and entities on an IT system or online environment. This "whitelist" approach restricts access to only those activities or entities that have been previously authorized, setting parameters on what is regarded as safe or secure. Allow lists can be applied to a variety of digital resources, from user accounts and file types to websites and network ports, and can be used as a form of digital defense to ward off malicious programs or actors. A primary benefit of allow lists is that they provide a low-maintenance way of ensuring that user accounts or IT systems remain safe from any unauthorized or malicious activity, making them a critical security tool for any networked digital environment.
  • Alternative Remittance Systems (ARS) are non-traditional methods for transferring money across international borders. These systems provide an alternative to traditional banking or wire transfers and are commonly used by migrant populations and the unbanked. ARS typically involves sending money to an agent in another country who then distributes or delivers the funds to the intended recipient. ARS are often based on informal networks and are used to avoid regulations and taxes. As such, they are prone to misuse and can be exploited for money laundering, terrorist financing and other criminal activity. As an Anti-Money Laundering Expert, it is important to be aware of and prioritize monitoring of such systems.
  • Anti-Money Laundering (AML) is an important part of preventing financial fraud. It includes a variety of activities and tactics used to detect, prevent, and report money laundering and other financial crimes. AML has been an essential part of financial regulation for several decades and is mandated by both domestic and international law. Financial institutions, such as banks, must implement AML regulations. These regulations often involve customer due diligence, transaction monitoring, suspicious activity reporting, and compliance management. The ultimate aim of AML is to reduce financial crimes, such as money laundering and terrorism financing, by identification, prevention, and monitoring of the activities associated with these illicit activities.
  • AML Compliance is a term used to describe the process of implementing policies and procedures to ensure an organization is compliant with anti-money laundering laws and regulations. This process involves the development of an AML compliance program and the ongoing monitoring of various activities to detect money laundering. Organizations must adhere to these laws and regulations in order to prevent themselves from unwittingly facilitating money laundering activities. The components of an effective AML compliance program include customer due diligence, customer identification, transaction monitoring, and suspicious activity reporting. Ultimately, AML Compliance ensures that organizations are taking appropriate steps to prevent, detect, and report any indications of money laundering.
  • An Anti-Money Laundering (AML) Compliance Officer is a professional who has the responsibility of ensuring compliance with applicable AML regulations within an organization. This includes establishing and maintaining internal controls, reporting suspicious activity and advising on relevant legal and compliance matters. The AML Compliance Officer is responsible for monitoring and analyzing activity on the organization's financial accounts, ensuring compliance with applicable regulations, and communicating with and advising the organization's employees and stakeholders on AML issues. They also remain current on relevant regulatory and compliance requirements and advise senior management on compliance issues.
  • An Anti-Money Laundering/Counter Terrorism Financing (AML/CTF) Compliance Audit is an independent review of an organizations AML/CTF procedures and processes to ensure compliance with applicable laws and regulations. It is designed to provide assurance that the organization is taking steps to prevent, detect, and report suspicious money laundering activities. The audit typically evaluates the organization’s risk assessment, customer due diligence, transaction monitoring, record keeping, reporting, and training practices. It may also include reviews of customer identification and verification procedures, account opening process, and other steps taken to ensure compliance with the AML/CTF framework. The audit is essential to ensure the organization is mitigating risk and meeting its obligations to combat money laundering and other illicit activities.
  • Anti-Money Laundering (AML) software is a computer program designed to detect, monitor and report suspicious activity that could be linked to money laundering. The software monitors transactions, identifies patterns, and detects suspicious transactions that could be linked to money laundering, terrorist financing and other financial crimes. It can also help companies comply with AML regulations. AML software helps by automating the compliance process, by automatically assessing the risk of each transaction and providing real-time alerts, and by providing detailed reports and analytics to help companies understand their risk exposure.
  • An Anti-Botnet is a form of defensive technology used to protect computer systems from the malicious activities of a botnet. Botnets are networks of infected computers that are controlled remotely and are used to launch distributed denial of service (DDoS) attacks, spam email campaigns and other malicious cyber activity. Anti-Botnet technology operates in three stages: blocking malicious network traffic, detecting and alerting on potential threats, and finally, removing the botnet code from any infected systems. Anti-Botnet technology provides an additional layer of security to an organization’s cyber security posture, helping to reduce their risk of attack from botnets and other malware. Moreover, organizations can use anti-botnet solutions in tandem with traditional security solutions such as antivirus/antimalware software and firewalls to further strengthen their overall security posture.
  • Anti-malware is a type of software designed to detect, protect and remove malicious software (malware) from computers, networks, and other devices. It is designed to identify, block, and remove malicious code, as well as potentially unwanted programs, such as adware, spyware, and other malicious software. Depending upon the type and underlying technologies, anti-malware software can also provide additional security features, such as real-time protection, prevention, and detection of malicious activity, and the ability to quarantine malicious items. It is an essential component of a comprehensive security strategy to protect networks and systems from malicious threats.
  • The Anti-Money Laundering Act (AMLA) is a federal law that is designed to protect the United States financial system from criminal activities such as money laundering, terrorist financing, and other financial crimes. The AMLA requires financial institutions to take measures to identify, detect, and report suspicious activity. This includes verifying customer identities and keeping records of transactions. The AMLA also prohibits financial institutions from engaging in transactions with individuals or entities that are identified as being associated with money laundering and other financial crimes. The AMLA is intended to protect financial institutions from being used to facilitate criminal activities and to ensure that financial institutions have the necessary tools and processes in place to detect and report suspicious activity.
  • The Anti-Money Laundering Directive (AMLD) is an EU legislation designed to combat the laundering of money derived from criminal activities and to prevent its use for terrorist financing. It applies to financial institutions and other organisations that offer certain services such as payment services, money transmission services, issuing and managing payment cards and virtual currencies, among others. The directive requires all involved parties to identify, monitor and report suspicious transactions to the relevant authorities, as well as take adequate measures to prevent money laundering. It also obliges financial institutions to apply customer due diligence, including carrying out risk-based customer due diligence, identification of beneficial owners and ongoing monitoring of customer relationships.
  • The Anti-Money Laundering International Database (AMLID) is a global repository of information on suspicious financial activities, designed to prevent and detect money laundering activities. It enables financial institutions to check customer backgrounds, identify individuals associated with illicit activity and take appropriate action to stop them. The database stores financial data of individuals, corporations and other entities suspected of illegal activities, such as terrorist financing, bribery, fraud and tax evasion. It also helps to strengthen the oversight of financial institutions and to determine if customer accounts should be frozen or closed. The database is regularly updated with new information, making it an invaluable tool for governments, regulatory authorities and financial institutions in the fight against money laundering.
  • An Anti-Money Laundering (AML) Program is a system of processes, procedures, and policies designed to prevent money laundering and to ensure compliance with applicable laws and regulations. An effective AML Program is essential to ensure that a financial institution meets its legal and regulatory obligations, as well as protects itself from reputational and financial risks associated with money laundering. The program should include policies and procedures for customer due diligence and transaction monitoring, as well as risk assessments, training, and reporting. The AML Program should also include protocols for internal audit, compliance, and enforcement.
  • Anti-Phishing is a security measure that helps protect users from fraudulent websites and phishing attacks. Phishing is a form of fraud that attempts to obtain sensitive information, such as usernames, passwords, credit card numbers, and other financial information, by impersonating a trustworthy individual or entity. Anti-Phishing technologies can detect and block such fraudulent websites and malicious attachments, allowing users to safely and securely access the internet. Anti-Phishing technologies may also alert users if they accidentally visit a suspicious website, allowing them to take precautions before entering any sensitive information. By implementing Anti-Phishing measures, organizations can protect their users from becoming victims of identity theft and financial fraud.
  • Anti-virus software is a computer program designed to detect and remove any malicious or potentially malicious software from a computer. It works by scanning the computer’s hard drive, removable storage media, or incoming files for malicious code that may include viruses, worms, trojans, rootkits, and other malicious programs. Whenever an infected file is detected, the anti-virus software can either quarantine, remove, or repair the file, depending on the severity of the infection. Anti-virus software can also help protect a computer by preventing malicious programs from executing, and alerting the user if potential malicious software begins to download. Overall, anti-virus software is an essential tool for maintaining the security and integrity of a computer system.
  • Anti-Bribery and Corruption (ABC) is the practice of reducing the risk of bribery and corruption in any organization or industry. This includes implementing policies, programs, and procedures that are designed to identify, prevent, and report any potential or real incidents of bribery and corruption. This also includes investigations into potential incidents, implementing internal controls, and disciplinary actions. The goal of ABC is to protect businesses, organizations, and individuals from any form of bribery and corruption, by making sure all transactions are ethical, transparent, and compliant with applicable laws and regulations.
  • The Anti-Money Laundering Council (AMLC) is a Philippine government regulatory body established by virtue of Republic Act No. 9160, otherwise known as the Anti-Money Laundering Act. The AMLC serves as the country’s main policy-making and coordinating body responsible for the prevention, detection and suppression of money laundering activities. It is composed of the Governor of the Bangko Sentral ng Pilipinas as Chairman, the Chairman of the Insurance Commission and the Commissioner of the Securities and Exchange Commission as members. The AMLC formulates policies, directs and coordinates with other government agencies in the implementation of anti-money laundering measures, investigates suspicious transactions and other related transactions, freezes and shares information related to money laundering activities and related offenses, and recommends the prosecution of offenders.
  • Antispam is a term used to describe technology and tools used to protect computer networks and users from unwanted, unsolicited and malicious emails, commonly known as spam. Antispam solutions detect, block, and remove suspicious emails before they reach users’ inboxes. They also monitor outgoing traffic to ensure that no malicious emails are sent from the network. Antispam solutions may come in many forms, including software and hardware-based solutions, as well as services that can be integrated into existing email platforms. Antispam technology can be used to protect users from phishing emails, malicious attachments, and other cyber threats.
  • Antivirus software is a type of computer security application designed to protect a computer from malicious software, also known as malware. Antivirus software scans a computer's memory, files, and external storage devices for any malicious code and attempts to remove it. Specialized antivirus programs can also monitor network traffic for suspicious activity and block programs from executing malicious code. Additionally, antivirus programs can be configured to automatically update their virus definitions and scan a computer on a periodic basis. Antivirus software is an essential tool for protecting computers from malicious threats, including Trojans, viruses, worms, keyloggers, ransomware, and other types of malware.
  • Application fraud is a type of identity theft that involves the falsification or manipulation of applications or documents for services or products. It usually involves providing false or stolen information to gain access to financial accounts, credit cards, loans, government benefits, or other services.
  • Application Security is an umbrella term that refers to the processes and technologies that are used to protect the security of applications from threats and malicious actors. This includes activities such as vulnerability scanning, network application firewalls, encryption, code review, security testing, patching, and incident response. Application Security measures are important for protecting data and preventing unauthorized access to applications and preventing attacks by malicious actors.
  • Arbers is a term used to describe individuals who take advantage of bookmakers’ bonus offers and loyalty programmes. The name Arbers comes from the combination of two words; Arbitrage and Security. These individuals typically bet on both sides of the same market to exploit the value discrepancy between the different bookmakers. In this way, they can make a guaranteed profit regardless of the outcome of the market. The key to success for Arbers is to identify discrepancies between bookmakers quickly in order to place bets before the price difference is corrected. To make a profit Arbers will need to have a deep understanding of the different bookmakers’ bonuses and loyalty programmes and use tools like staking optimizers to identify when conditions are ripe for a bet.
  • The Asia/Pacific Group on Money Laundering (APGML) is an inter-governmental body that works to combat money laundering and terrorist financing in the Asia-Pacific region. It is composed of 41 member jurisdictions, including the United States and several international organizations. The APGML is the regional affiliate of the Financial Action Task Force (FATF), and its mission is to coordinate efforts among its members to develop and implement effective anti-money laundering and counter-terrorist financing (AML/CTF) measures. The APGML works to promote international standards and develop effective AML/CTF regulations, while also providing technical assistance to its members. It also provides mutual evaluations of its members and assesses the effectiveness of their AML/CTF systems.
  • Asset-Laundering is the process of illegally converting the proceeds of criminal activity into seemingly legitimate assets. It involves the conversion of large amounts of money from its source of origin, which may be illegal, into another form, such as real estate, investments, or other financial instruments, in order to disguise its illegal origin. The process is often facilitated by organized crime groups or corrupt officials and can involve multiple layers of financial transactions to further obscure the source of the funds. As an Anti-Money Laundering Expert, it is my responsibility to track and prevent the misuse of financial instruments to obscure the origin of illicit funds.
  • Asset Blocking is an Anti-Money Laundering (AML) measure used to prevent criminals from using the proceeds of their criminal activities. It involves preventing the use of assets and property that have been identified as the proceeds of criminal activity or are related to a suspected money laundering scheme. This is done by freezing the assets and preventing any disposition, transfer or conversion of the assets. Asset Blocking can be accomplished through court orders, such as restraining orders, or by specific legislation that allows for the designation of certain assets as blocked or frozen. The concept of asset blocking is intended to limit the ability of criminals to benefit from their illicit profits while also protecting innocent parties.
  • Asset Confiscation is a term used to describe the act of seizing assets that have been illegally obtained through the process of money laundering. It is a measure used by law enforcement to disrupt the activities of money launderers and can include the seizure of property, money, and other assets that are believed to have been acquired through criminal activity. It is an important tool in the fight against money laundering, as it helps to remove the incentives and benefits associated with money laundering by taking away their ill-gotten gains.
  • Asset Flight is a specific form of money laundering in which criminals use the proceeds of their criminal activities to purchase high-value assets such as real estate, luxury goods, and currency in order to move their ill-gotten gains out of the financial system and hide them from law enforcement and financial regulators. Asset Flight is a key tool used by criminals to conceal the origin of their funds and elude detection and prosecution.
  • Asset Forfeiture is the legal process of seizing property that is suspected to be the proceeds of, or involved in, criminal activity. The seizure may be initiated by Law Enforcement Agencies, or other government agencies, and can occur before, during, or after a criminal prosecution. Asset forfeiture is intended to disrupt illegal activity by depriving criminals of the resources needed to carry out their activities. This can include cash, real property, vehicles, and other valuables. The proceeds from the sale of forfeited assets are then typically used to supplement the funds of the law enforcement agency in charge of the investigation.
  • Asset freezing is a financial measure that prevents a person or entity from disposing or accessing their assets or funds. It is also referred to as a “freezing order” and may be used to prevent money laundering, fraud and other illegal activities. An asset freezing order can be issued by a court, a government agency or an international body such as the United Nations. It prevents the transfer of funds, including bank accounts, investments and other property, and also restricts the use of those assets for any purpose other than to satisfy the order. It is a powerful tool for an anti-money laundering expert in order to identify, prevent, and prosecute money laundering activities.
  • Asset mingling is the process of commingling one’s own funds or assets with those of another person or entity in order to conceal the origin or ownership of the funds or assets. This practice is a common tactic used by criminals to launder the proceeds of illegal activities. The funds or assets are transferred to one account, and then dispersed back to the original owners in a way that is difficult to trace or detect. Asset mingling is a serious crime and can result in significant fines and potential jail time. It is important for individuals and businesses to be aware of these potentially fraudulent practices and the serious consequences of engaging in them.
  • Asset Protection is a legal practice focused on protecting an individual or entity's assets from the potential risks of creditors, civil judgment, or other liabilities. It involves a variety of legal and financial strategies, including the use of trusts, limited liability companies, and other entities designed to transfer financial assets out of the individual or entity's name and into a separate entity, reducing their potential risk. Anti-Money Laundering Experts are tasked with ensuring that these entities are used in a legitimate and legal manner, in order to prevent criminal and illegal activities from taking place.
  • Asset Protection Trusts (APTs) are trust arrangements used to protect assets from creditors. Assets can be transferred to an APT in order to shield them legally from any future claims against the owner. Generally, APTs are set up in a foreign jurisdiction, usually one with laws that are favorable towards asset protection. The trust is managed by a trustee, who is responsible for ensuring the trust's compliance with all applicable laws. Assets held in an APT are generally not reachable by the creditors of the settlor, the person who transferred the assets to the trust. APTs can be used to protect assets from creditors and to reduce the risk of money laundering.
  • The Association of Certified Anti-Money Laundering Specialists (ACAMS) is the global leader in Anti-Money Laundering (AML) certification. It is a professional organization dedicated to enhancing the knowledge and expertise of financial crime detection and prevention professionals. ACAMS provides a variety of training, conferences, and professional development opportunities, enabling anti-money laundering experts to stay up to date on the latest trends and regulatory requirements. In addition to certification, ACAMS also provides credentials such as the Certified Anti-Money Laundering Specialist (CAMS) designation, which is an internationally recognized certification for AML professionals. ACAMS also offers an AML risk management certification and a host of other educational programs. As an organization, ACAMS is dedicated to fostering a strong global network of financial crime detection and prevention specialists, with the ultimate goal of preventing money laundering from taking place.
  • Asymmetric Cryptography is a form of cryptography which uses two different keys—one to encrypt the data, and one to decrypt it. Both keys must be kept secure and must never be shared. The two keys are known as the public key and the private key. The public key is the key used to encrypt the data and is shared freely with approved individuals and organizations. The private key is used to decrypt the data and is only known to the owner of the key. This method of cryptography is known for its strength and security since the data can only be decrypted by the owner of the private key. Asymmetric Cryptography is used for digital signatures, secure email, secure file storage, and secure communication.
  • Asymmetric warfare is the use of elements of military power disproportionate to the opponent in order to gain an advantage. It is defined by the use of one side's strengths against the other side's weaknesses. The asymmetric approach can involve the use of technology, such as cyber-attacks, to gain an edge over the other side. This can include manipulating communications or data, using malware or ransomware to attack systems, or using disinformation to mislead or deceive the other side. Asymmetric warfare also includes unconventional tactics, such as terrorism, guerrilla warfare, and the use of unconventional forces or allies. The primary purpose of an asymmetric approach is to gain a strategic advantage by exploiting the weaknesses of the other side while avoiding their strengths.
  • An attack signature is a set of characteristics or events that are associated with a malicious cyber attack. Attack signatures are used to identify and detect malicious activities, such as malware, network intrusions, worms, and other malicious activities that are initiated by attackers. Attack signatures can be specific to a particular attack or can be generic, meaning that they can be used to detect a variety of attacks. Attack signatures can include a variety of data elements such as the source IP address, source port, destination IP address, and destination port. Attack signatures can also contain other indicators such as network traffic patterns and system behaviors. Attack signatures can be used by organizations to set up prevention systems to detect and block malicious activity. Attack signatures can also be used to detect and report malicious activities after an attack has occurred.
  • An attack vector is a path or means by which a hacker (or group of hackers) can gain access to a computer or network server in order to deliver a malicious payload. It is the route by which a cyber attacker attempts to gain access to a system, service, or application. Attack vectors can involve exploiting vulnerabilities in an operating system, application, or network protocol. Common attack vectors include exploiting SQL injection, buffer overflows, cross-site scripting vulnerabilities, and denials of service (DoS) attacks. Attack vector techniques are constantly changing, so it is important for organizations to be aware of any new attack vectors and stay up to date on the latest developments in cybersecurity.
  • An audit log is a record of activities recorded by an information system, tracking and recording user interactions with the system. Audit logs are important to security operations, as they provide an audit trail of incoming and outgoing activity that is used to monitor and enforce security policies. An audit log can also help to detect security threats, detect access to sensitive information, or identify malicious activity. Audit logs are used to carry out forensic investigations, build an understanding of what has happened on a system, and to determine potential abuse. Audit logs can also be used to track system changes and to detect malicious software attempting to manipulate data or spread malicious code.
  • AUSTRAC stands for the Australian Transaction Reports and Analysis Centre, which is the Australian government's financial intelligence agency. The agency works with other law enforcement and regulatory agencies to detect, disrupt, and punish financial crime, including money laundering. It does this by collecting, analysing, and sharing financial intelligence and regulating the money services businesses operating in Australia. AUSTRAC also helps to protect the Australian financial system from abuse and exploitation by developing and enforcing laws and regulations that set out the obligations of financial institutions in Australia.
  • Authentication is an important aspect of cybersecurity that is used to confirm the identity of users or systems, as well as verify that they are who they claim to be. Authentication is typically achieved through the use of credentials, such as usernames and passwords. Additionally, two-factor authentication and multifactor authentication methods are often used alongside these credentials to provide an extra layer of security and protection. Multi-factor authentication typically requires users to input an additional piece of information such as a code sent to a user's email or device in order to gain access. This security measure ensures that unauthorized users are not able to access confidential data or networks.
  • An Authorised Depository Institution (ADI) is a financial institution, such as a bank, that is authorized to receive, hold and disburse funds on behalf of its customers. ADIs are subject to regulations and oversight by the relevant government authority, such as the central bank or banking regulator. ADIs can take the form of commercial banks, savings banks, credit unions, or other types of financial institutions. These institutions are typically subject to prudential regulation and supervision, which is designed to ensure that customer deposits are safe and that the institution is sound and well-managed.
  • Authorization is the process of granting an individual or group permission to access information, applications or resources within a computer system. It typically involves an authorization process where a user or group of users is granted permission to access specific resources based on their clearance level or authentication. Authorization is critical for protecting data, as it defines which individuals or groups can access a given resource, as well as their permitted level of access. It is important to ensure the security of sensitive information by employing controls that ensure that only those with the required clearance levels are granted the proper degree of access.
  • An Automated Clearing House (ACH) is an electronic network used to process financial transactions, such as direct deposits, bill payments, and other payments. ACH transactions are typically arranged through banks, credit unions, and other financial institutions and are securely managed by a third-party processor. ACH transfers are initiated by submitting an ACH file, which contains instructions to the processor for the type of transaction desired and the associated bank account information. The processor transmits the instructions to the necessary financial institution, which then processes the transaction. ACH transactions are faster and more secure than traditional paper-based transfers, and are widely used for a variety of financial transactions. As an Anti-Money Laundering Expert, it is important to understand the risks associated with ACH transactions as well as the necessary compliance and risk management measures that must be taken to ensure the safe and secure transfer of(...)
  • An Automated Screening Tool (AST) is a computer-based system designed to detect suspicious financial transactions which may be indicative of money laundering activities. The system carries out an automated screening procedure which is based on pre-defined criteria. ASTs are typically used to compare transaction data against a variety of watchlists, including OFAC, Politically Exposed Persons (PEPs) and sanctions lists, as well as national and international sanctions lists. The system also flags transactions which appear to be suspicious or unusual, for further investigation and assessment. The use of an AST helps financial institutions to ensure compliance with Anti-Money Laundering (AML) regulations and to protect the institution from financial crime.
  • An Automated Teller Machine (ATM) is a device that allows customers to withdraw cash, transfer funds, check their account balances, and deposit money into their bank accounts without the need for a bank teller. ATMs are usually connected to a central payment processor and allow users to complete their transactions using a debit or credit card. ATMs are located at many locations such as banks, retail stores, airports, and shopping centers. These machines provide a convenient way for customers to access their funds without having to wait in line for a teller or even leave home.
  • Automated threat detection is a process that uses advanced algorithms and machine learning techniques to monitor a system and detect potential threats. The process is designed to enable fast and accurate analysis of vast amounts of system data in order to detect anomalies or malicious activities. Automated threat detection systems are typically integrated into larger cybersecurity solutions, such as antivirus and malware protection, firewall security, and intrusion detection. Automated threat detection works by monitoring traffic and network activities, scrutinizing system logs, and detecting activities that may indicate malicious intentions. These systems can also be used to track suspicious events, detect suspicious user behaviors, and alert the security team of any potential threats.
  • Autonomous Sanctions are autonomous legal restrictions imposed by a State that are aimed at preventing, countering or responding to serious international situations of concern, such as money laundering, terrorism or other forms of serious transnational crime. These sanctions are usually imposed by a State's executive branch, and involve measures such as the freezing of assets, travel bans or restrictions on trading with certain countries. These measures are meant to deter, prevent or respond to serious threats to international peace and security and help to uphold international law.
  • Address Verification System (AVS) is a fraud prevention and cyber security measure designed to prevent credit card fraud by verifying the accuracy of the billing address for a person using their credit card. Specifically, when a customer makes a purchase, the merchant is able to check that the customer's billing address matches the address associated with the customer's credit or debit card. This system is especially useful in online purchases or when a customer is not present to provide identification. In the U.S., AVS is used by Visa and MasterCard and other card companies to verify billing addresses. The system checks the customer's address with the address held on file by the bank or credit card company. If the addresses do not match, the transaction is declined or further measures may be taken to confirm the purchase.
  • Back-to-Back Letters of Credit are financial instruments used to facilitate international trade. They allow one party to obtain credit from a second party, using the credit of a third party. This type of instrument is used by both parties to protect against the financial risk of not receiving payment for goods and services. They are used to transfer payments from one country to another, where the currency or payment method of one country is not accepted in the other. Back-to-Back Letters of Credit can be used by criminals to launder money as they provide a way to transfer and hide assets. As an Anti-Money Laundering Expert, it is important to be aware of this type of financial instrument and take steps to ensure that all transactions are done in a transparent manner.
  • A backdoor is a mechanism that allows a user to gain authorized, but not necessarily privileged, access to a computer system. Backdoors are most often deployed by malicious users or software programs in order to gain surreptitious access to a system without being detected. Backdoors are typically operated through a combination of programs and scripts that enable an individual to remote control the system, monitor and modify key system components, and even execute malicious code. Backdoors can also be used to bypass security measures and allow remote access to systems. They typically leave systems vulnerable to data theft, destruction, and corruption. Backdoors are a major security threat and are seen as a major vulnerability in any cyber security system.
  • Baiting is a form of social engineering attack which is used to lure unsuspecting users into revealing confidential information and gaining unauthorised access. It involves the attacker leaving behind physical or digital media such as infected USB sticks, CDs, DVDs, or external hard drives in public and strategic places. At first sight, these may appear to be harmless gifts such as free software, proof subscription, etc. However, if a user inserts the device into a machine, they will become infected by malicious software and unintentionally provide an attacker with direct access to the device. This can then be used to steal sensitive information, or even lock down a device and demand ransom in exchange for returning the owner access.
  • A Bank Identification Number (BIN Number) is a unique code assigned by banks to identify their customers. BINs are typically the first 6, 8, or 11 digits in a credit/debit card. They are also used to identify merchants who accept credit and debit card payments. BINs are used by banks to monitor and detect fraudulent transactions. They allow banks to track purchase patterns, identify suspicious spending, and reduce the risk of identity theft. BIN numbers also enable banks to process payments quicker and more efficiently. They help merchants by allowing them to identify payments, preventing fraud and ensuring that customers are not charged the wrong amounts. BIN numbers are important in the world of online payments, as they provide an extra layer of security which helps to reduce the risk of fraud and identity theft.
  • The Bank Secrecy Act (BSA) is federal legislation in the United States that requires financial institutions to maintain records and file reports of certain transactions regarding financial activity that may be indicative of money laundering or other criminal activity. This includes reporting to the Financial Crimes Enforcement Network (FinCEN) on any transactions exceeding $10,000, maintaining records on cash purchases of traveler's checks, money orders, and other negotiable instruments for over $3,000, and monitoring customers for suspicious behavior. As an Anti-Money Laundering Expert, it is important to have an understanding of the BSA and the regulations it enacts to ensure financial institutions are properly complying with the law.
  • The Bank Secrecy Act (BSA), also known as the Currency and Foreign Transactions Reporting Act, is an act designed to combat money laundering and other financial crimes. The act requires financial institutions to report certain transactions (such as large deposits and withdrawals) to the U.S. Department of the Treasury. It also requires those institutions to keep records of certain transactions and submit them to the U.S. Department of the Treasury upon request. The BSA also imposes penalties for institutions that fail to comply with the law. As an Anti-Money Laundering Expert, it is important to be familiar with the provisions of the BSA to ensure compliance with the law.
  • The Bank Secrecy Act (BSA) Compliance Program is a key element of Anti-Money Laundering (AML) efforts. It requires financial institutions to establish procedures to ensure compliance with the Act, including the submission of Suspicious Activity Reports (SARs) to the Financial Crimes Enforcement Network (FinCEN). The program also requires the development and maintenance of an effective customer identification program (CIP), the implementation of an AML compliance program designed to detect, deter, and report suspicious activity, and ongoing monitoring of customer activity. The BSA Compliance Program is an essential part of any effective AML program, as it helps to prevent financial institutions from being used as a conduit for money laundering and other criminal activities.
  • Bank Transparency refers to the full disclosure of information, such as financial statements, ownership structures and risk management policies, to a regulatory authority or financial institution. It is a critical component of the anti-money laundering regime and helps to strengthen the anti-money laundering framework by allowing government authorities to identify, monitor and report suspicious activities that could be indicative of money laundering. Bank Transparency also helps to protect customers and the integrity of the financial system by requiring banks to provide detailed information about their operations and activities.
  • A Banker Trojan is a type of malware specifically designed to steal sensitive financial information from the user's computer. It obtains personal information such as banking account numbers, credit card numbers, and passwords by concealing itself in the system background and recording keystrokes or displaying fake login screens. It is usually spread through malicious emails, attachments, or websites. The Banker Trojan has the capability to connect to the Internet and contact its Command and Control server to receive instructions. The malicious code is designed to be persistent, meaning that it can survive system restarts and reinstallations. It is also capable of disabling anti-virus software in order to avoid detection.
  • Banner grabbing is a method of cyber security reconnaissance. It refers to the process of utilizing various tools to identify banner information associated with a particular service or device on a network. Through banner grabbing, a person can obtain the protocol type, service name and version, as well as other information such as Operating System and system architecture components. This data can be used to probe the device for potential vulnerabilities, as well as to determine how to secure the device against attacks. It is a critical part of any security assessment, as it enables a person to identify exploitable vulnerabilities more quickly and easily.
  • The Basel Committee on Banking Supervision (BCBS) is an international body of banking supervisors and regulators that sets global standards for banking supervision and regulation. BCBS was established in 1974 by the central bank governors of the Group of Ten countries, and currently has 27 member countries. Its objectives are to promote and strengthen the soundness, integrity and efficiency of the banking system by developing and endorsing principles, standards and other related guidance on banking supervisory matters, and by fostering co-operation in the supervision of international banking. The Committee's work is focused on enhancing risk management, reducing systemic risk, strengthening financial market infrastructure and promoting the safety and soundness of the banking system.
  • Basic authentication is a type of authentication mechanism that provides a secure method for authenticating users. It requires the user to provide a valid username and password when logging in. This data is then compared against the credentials stored on the server. If the provided credentials match, access is granted to the application or system. This type of authentication is often used in web applications and other networks, as it is an efficient way to provide secure access to resources. Additionally, it is usually employed in conjunction with more advanced authentication protocols like Kerberos or Radius.
  • A bastion host is a computer server that serves as a gateway into a local network, such as a private network, while providing extra protection against malicious attacks. It is designed to be the most secure device on the network, and responsible for maintaining the highest levels of security. Bastion hosts are configured to only allow inbound and outbound traffic that is explicitly authorized, and disallow all other traffic. They are also equipped with firewalls, strong authentication techniques, and additional software and hardware enhancements, in order to mitigate any security risks that may arise. Bastion hosts are an essential part of a comprehensive cybersecurity plan and help protect an organization's confidential data and assets from external threats.
  • Batch processing & screening is an anti-money laundering (AML) approach which involves running large groups of financial transactions through a screening system. The screening process is designed to detect and identify any suspicious activity or potential money laundering activities. This is done by analyzing information such as customer name, address, account details and amounts. The process then flags any cases where the information does not match the expected norms, allowing for further investigation and analysis to determine if any action needs to be taken. This approach is used to ensure that all transactions are compliant with AML regulations.
  • Bearer form, or negotiable instruments, are financial instruments or documents, such as checks, promissory notes, and bills of exchange, that bear a signature or other evidence of ownership. These instruments are transferable and can be exchanged for cash or some other form of value. This makes them attractive to money launderers as they can be easily used to move or conceal illicit funds without leaving a traceable trail. As an anti-money laundering expert, it is important to understand the risks associated with these forms of payment in order to create measures to detect and prevent suspicious transactions.
  • Bearer Negotiable Instruments are a type of financial instrument, such as promissory notes, cheques, drafts, or bills of exchange, that can be transferred from one person to another without the need to record or register the transfer. This makes them particularly attractive to criminals, who can use them to move funds without leaving a traceable record of the transaction. As an Anti-Money Laundering Expert, it is important to recognize these instruments and understand the potential risk they may pose to an organization or financial institution. It is also important to be aware of potential signs of money laundering involving bearer negotiable instruments and to report suspicious activity as soon as it is identified.
  • A Bearer Share is a type of stock certificate that does not have a defined owner. These types of shares are considered highly risky from an Anti-Money Laundering (AML) perspective as they can easily be transferred without the need of any registry or official confirmation. This means that the ownership of the share is difficult to track and identify, and can be used to launder money in an anonymous fashion, making them an ideal tool for criminals and money launders. Regulations that require share owners to be identified and holders to justify their possession of the share, are crucial to preventing money laundering in the case of Bearer Shares.
  • Behavior monitoring is a security measure that involves tracking user activity on a network or computer system to detect malicious activity. This process usually involves analyzing user activity, such as logins, file access attempts and data transmission, to identify any suspicious or abnormal behavior. Behavior monitoring can also be used to detect insider threats, such as malicious employees, who actively try to breach security protocols. By monitoring user behavior, organizations can quickly detect any suspicious activities, thwarting potential malicious attacks. Additionally, behavior monitoring can help organizations detect changes in user profiles, allowing for quick and effective responses to security threats.
  • Behavioral analytics is an advanced cybersecurity solution used to identify abnormal user behavior that could indicate a potential security issue or malicious activity. It uses algorithms and data models to analyze user activity, such as user logins, file accesses, and system configurations. This analysis allows the system to identify patterns that are outside of the normal user behavior and raise an alert for further investigation. It is an effective way to detect malicious activity before it can cause damage. Behavioral analytics provides greater insight into the potential threats that exist within an organization’s network and provides the ability to rapidly respond to any malicious activity that may be taking place.
  • A Benami Account, also known as a 'Beneficial Account', is a financial instrument that is used to facilitate money laundering activities. It is an account in which the beneficial owner is not the same as the account-holder. In such cases, a third party acts on behalf of the beneficial owner, and the funds are held in the account under a false or fictitious name. Benami Accounts are used to disguise or conceal the identity of the true owner, often for the purpose of evading legal obligations, avoiding taxes, or to facilitate other criminal activities, such as the financing of terrorism. It is important to note, however, that not all Benami Accounts are used for illegal activities, and some individuals may simply use such accounts to protect their privacy or as an alternate source of funds.
  • A beneficial owner is the ultimate individual or entity that benefits from the ownership of assets, including funds, investments and other assets. They are the true economic owner of the assets and can be either individual or corporate. Anti-money laundering (AML) regulations require financial institutions to identify and verify the beneficial owners of the assets, ensuring that funds are not being used for nefarious purposes or to launder money from criminal activities. Beneficial owner identification is a critical component of AML compliance and risk management.
  • Beneficial Ownership is the ultimate natural person who controls and benefits from a company, trust or other legal entity. It is the person or persons who ultimately benefit from the ownership of an asset, such as a company or trust. Beneficial Ownership is important to Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) efforts as it enables the identification of the ultimate natural person who is the beneficial owner of legal entities, and therefore enables the identification of suspicious activities and illegal transactions. Knowing and understanding Beneficial Ownership can also help in the prevention of fraud and other illicit activities.
  • Beneficial Ownership Identification is a term used to refer to the process of identifying individuals or legal entities that hold ultimate ownership of a company. This process is used to prevent money laundering and other criminal activities, as it ensures that the true owners of a company are known and in compliance with the relevant regulations. It involves identifying, verifying, and authenticating the identity of the beneficial owners and their ultimate ownership structure. This information is then maintained in the company’s records and is submitted to the relevant authorities whenever requested.
  • A beneficiary is a person or entity that receives assets or other benefits from a trust, estate, or other legal arrangement. Beneficiaries can be individuals, corporations, charities, or any other legal entity that is legally entitled to receive assets or benefits from a trust, estate, or other legal arrangement. Beneficiaries are typically named in the trust, will, or other legal documentation associated with the arrangement. Beneficiaries can receive anything from financial assets, such as stocks, bonds, and cash, to physical assets, such as real property, antiques, and jewelry. Beneficiaries are associated with anti-money laundering efforts in that they are the intended receivers of any money or assets transferred through the trust or other arrangement and therefore should be identified to ensure that the assets are not being used for criminal activity.
  • A Bill of Exchange is a document that establishes a legally binding agreement between two parties, in which one party (the “payer”) agrees to pay a certain sum of money to the other party (the “payee”). This document can be used in many different contexts, including international trade and financial transactions, but it is most often used as a form of payment or guarantee. An Anti-Money Laundering Expert is responsible for ensuring that the Bill of Exchange is in compliance with all applicable anti-money laundering regulations at both the federal and state levels. This includes checking for suspicious activity, such as unusually large transfers, multiple transfers to the same account, or transfers to an offshore account. An Anti-Money Laundering Expert must also be aware of any potential violations of Anti-Money Laundering laws and regulations and be able to identify and report any violations.
  • Bill of Lading (B/L) is a document issued by a carrier or its agent to the shipper of goods. It is a receipt issued by the carrier or its agent to acknowledge the receipt of the goods, and it serves as proof of the contract of carriage. The B/L is a crucial document used to establish or confirm the transfer of ownership and to document the value and quantity of goods being shipped. It is also used to prevent money laundering and other financial crimes, as it is a legally binding document that provides evidence of the movement of goods. It is also a key document for customs clearance, as it is considered to be proof of ownership of the goods.
  • Bill stuffing is a technique of money laundering that is typically utilized by organized crime groups to move large amounts of illicit funds. The process involves the criminal depositing a series of false invoices into a company's accounts payable system. Each invoice represents a payment for goods or services that was never ordered, received or provided. The empty invoices represent the criminal's attempt to disguise the origins of the money by burying it in a company's normal accounts payable processes. By doing so, the criminal hopes to circumnavigate the due diligence and counterparty checks that are a part of most financial systems.
  • Biometric Authentication is an advanced method of verifying a person’s identity by using their unique physical characteristics as an identifier. This type of authentication verifies users based on their fingerprints, facial recognition, iris scans, and voice recognition. Unlike authentication methods such as passwords, biometric authentication is more secure and hard to replicate. This type of authentication is widely used in financial and other sensitive industries to ensure that only authorized individuals can access confidential data. Biometric authentication can also be used to restrict access to physical premises, provide identification in air travel, speed up customer service and more.
  • Biometrics is a form of authentication that uses the characteristics and traits of individuals to verify their identity. Biometrics utilizes aspects such as fingerprint, face recognition, iris scanning and signature recognition to identify individuals. This technology is becoming increasingly popular and is used in a variety of scenarios such as secure access to physical and digital systems, confirming financial transactions, border control and criminal investigations. Biometrics offers an advantageous form of authentication due to its accuracy, and it is also difficult to replicate which prevents fraud. As a Cybersecurity Expert, I ensure the biometric data is secure and protected from hackers, as it is a valuable asset to many organizations.
  • Black Market Peso Exchange (BMPE) is a form of money laundering where the proceeds of illegal activities, such as drug trafficking, are laundered through a third party. This third party typically involves multiple, anonymous entities located overseas, who work in conjunction with domestic money launderers. In the BMPE, illegal proceeds from one country are exchanged for pesos in another. This process is designed to obscure the origin of the illegal proceeds, making them difficult to trace. BMPE is a growing concern as it is often used to finance organized crime and terrorism. Because of this, it is essential for anti-money laundering experts to understand and identify the signs of BMPE in order to combat this type of activity.
  • A blackhat is an individual or group of individuals involved in computer security, who have malicious or malicious intent. Blackhats typically break into computer systems, networks and applications to gain unauthorized access to confidential information and resources, and may cause damage or disruption to the systems through their activities. Common methods used by blackhat hackers include virus and malware creation, social engineering techniques, and exploiting security vulnerabilities and weaknesses. Blackhat hackers often use illegal techniques to exploit these weaknesses in order to commit fraud, obtain data or other personal information, or damage networks or systems.
  • A Blacklist is a list or registry of entities or individuals that are deemed to be engaged in inappropriate or suspicious activities relating to money laundering. It can include names of people or businesses that have been convicted of money laundering, as well as those suspected of engaging in money laundering activities. The purpose of a Blacklist is to identify and prevent criminal actors from carrying out their activities, by making it difficult for them to access the financial system and allowing governments to take action against them.
  • A block cipher is an encryption algorithm that takes a fixed-length sequence of data, known as a block, and transforms it through a series of algorithms, such as repeating rounds of substitution and permutation, into an encrypted output known as a ciphertext. It is often used in conjunction with other algorithms, such as hash functions, to provide additional security. Block ciphers can be used to encrypt both large and small amounts of data, and are especially useful for applications requiring secure communications, such as online banking and secure email. Block ciphers can be implemented in both hardware and software, and they can also be stream-based or block-based, depending on the application.
  • Blockchain is an encrypted and distributed digital ledger technology in which data is recorded, tracked and securely stored. It is a decentralized system, meaning no single authority has control over it. Instead, the blockchain is maintained by multiple computers or nodes on a network that are connected. Each node stores information about all past transactions, including the date, time and amount of each transaction, as well as its participants. This technology provides the highest form of digital security and trust as it stores information cryptographically in immutable blocks. Blockchain technology is widely used in financial transactions and other digital applications, such as asset management and supply chain management, to secure and verify transactions.
  • A Blue Team is a group of cybersecurity professionals focused on defending an organization’s networks and systems from malicious actors. Blue Teams are responsible for creating, practicing and refining their organization's overall cyber defense strategy. This includes monitoring and protecting against malicious activity, such as network intrusions and data breaches, as well as proactively searching for vulnerabilities and mitigating risk with the help of security tools and processes. A successful Blue Team should have an informed understanding of the threats their environment can face, and develop a strategy to best protect their organization from those threats. They must be able to respond to security incidents quickly, contain them and prevent future occurrences. They should also be able to share lessons learned and recommendations with their organization, so that their security policies and procedures can be continually improved.
  • Boot Record Infector is a form of malicious software (malware) that infects the master boot record (MBR) of a computer system by replacing the original boot record with malicious code. This malicious code then has the ability to infect other systems when the infected computer boots up or when infected media is inserted into it. Once the original boot record is replaced, the malware is able to execute malicious code and gain control over the infected system. As a result, the malware can potentially steal data, install additional malware, or render the system inoperable. As a Cybersecurity Expert, it is important to be aware of this type of malware, take precautions when using potentially infected media, and ensure that all systems have the latest security patches installed to help protect against Boot Record Infector infections.
  • Border Gateway Protocol (BGP) is a protocol used to control the routing of network traffic across the internet. The protocol is used to exchange information between autonomous systems, which are networks that are independently administered by different organizations. BGP enables Internet Service Providers (ISPs) to securely and reliably send traffic over and through different networks. It works by maintaining a table of IP networks and associated characteristics so that a network knows where to send traffic and how to reach other networks. BGP is a complex protocol but is essential in ensuring secure and reliable communications over the Internet.
  • A botnet is a network of computers, or bots, that are infected with a malicious form of malware (such as a virus, worm, or Trojan) and are controlled remotely by a cybercriminal. By operating the bots together, a criminal can use them to perform a wide variety of malicious activities such as sending spam, infecting other computers and websites, and launching distributed denial-of-service (DDoS) attacks. Botnets are a major security concern for individuals and organizations, as they can be used to launch large-scale, coordinated attacks that can cause widespread disruption and damage to networks and systems. It is important to have a robust security solution in place in order to properly detect, prevent, and respond to botnet attacks.
  • A botnet is a network of computers, or “bots”, that are infected with malicious software and controlled remotely by a third party. The malicious software can be anything from a virus, to a Trojan, to a backdoor. The bots, or compromised hosts, are then used in a variety of malicious activities. These activities can include sending out spam, participating in distributed denial of service attacks, stealing data or passwords, and sending out malicious code or other payloads. Botnets are a major threat to cybersecurity and are used to spread malware, extract data, and launch malicious cyberattacks. Botnets are extremely difficult to detect and stop due to their size and decentralized nature. The best way to combat botnets is to proactively secure computers and networks and to create effective strategies for recognizing and responding to botnet threats.
  • A breach is defined as any unauthorized access or entry into a secured system or resource, whether intentional or unintentional, in which sensitive data is exposed or stolen. This can be caused by malicious actors, inside threats, or inadvertent mistakes. Cybersecurity experts must understanding the various types of breaches, the potential vulnerabilities of their systems, and the necessary steps to prevent, mitigate and respond to a breach. This includes creating strong security policies and procedures, employee training, regular vulnerability scans, and putting in place appropriate technical controls to detect, alert, investigate and contain any breaches that may occur.
  • Bribery and corruption refers to the process of offering or accepting a bribe or other benefit to influence an individual's decisions or actions. Bribery and corruption are illegal activities that aim to gain unfair advantage for an individual or organization. Bribery and corruption can involve the exchange of money, gifts, or other favors for an advantage in business, public service, or politics. Bribery and corruption can have a wide range of negative effects, including but not limited to, loss of public trust, political instability, and economic uncertainty. Bribery and corruption can also lead to a lack of investment, delayed development, and stifle economic growth.
  • BYOC, or "Bring Your Own Computer," is a term used to refer to a user bringing their own personal computer or device to an organization's networked environment. BYOC is becoming more popular as organizations try to minimize IT costs. For example, an employee may be allowed to bring their own laptop to the office rather than using the organization's property. A BYOC policy would require users to follow the organization's security protocols to protect the network from malicious attacks or unauthorized access. Organizations must also ensure that BYOC devices comply with the organization's policies, standards, and requirements. Organizations must also ensure that the BYOC devices are properly configured, installed, and maintained to prevent breaches and other security risks. Finally, organizations should ensure that proper security measures are in place for BYOC devices, such as monitoring, encryption, and data backups.
  • Bring Your Own Device (BYOD) is a term used to describe the practice of allowing employees to use their personal devices for work purposes. BYOD allows employees to use devices of their own choosing, such as smartphones and laptops, for work activities such as accessing emails or files. As a Cybersecurity Expert, it is important to understand the risks associated with BYOD and how to guard against them. These risks include the possibility of company data being accessed and stolen, or malware being included in the device. To prevent these risks, organizations must implement strict Bring Your Own Device (BYOD) Policies that specify the acceptable use of these devices, as well as proper authentication and encryption.
  • Bring Your Own Laptop (BYOL) is an IT policy that allows users to bring their own laptops to the workplace. This policy allows employees to use their own laptop to access work-related tasks, which can save a business time and money they would have otherwise spent to purchase and maintain the laptops. Although allowing employees to use their own devices can be beneficial, there are a number of potential security threats associated with it. The usage of unsecured or unknown networks and the potential for data leakage are two of the biggest risks associated with Bring Your Own Laptop. As a Cybersecurity Expert, it is important to make sure that all users understand the security policies associated with Bring Your Own Laptop, as well as the importance of using strong passwords and other security measures when using their own device to access the company's network or data.
  • British Standard 7799 is an international standard published by the British Standards Institute (BSI). It sets out a model for best practice in the management of information security and is the most widely accepted approach to information security management worldwide. The standard is based on a comprehensive set of controls and processes for managing and safeguarding information assets, such as financial data, customer records, intellectual property and confidential information. It covers areas such as risk management, access control, policy development, physical security and business continuity. British Standard 7799 has been adopted by a variety of organizations, including government departments and private companies, as a benchmark for their own security practices.
  • A Brute Force Attack is a type of attack against a system where an attacker attempts to gain access or take control of the system by trying different combinations of username and password. These attempts are usually automated, with a computer or a script run through an extensive list of possible combinations. In a brute force attack, the attacker is simply trying to guess the user's credentials by trying all possible combinations one by one until the right one is found. This type of attack is very time consuming and can often only be successful if the password is weak or easy to guess. This type of attack is a common approach used by attackers and can be very difficult to detect and protect against.
  • A brute force attack is a type of cyberattack in which an attacker uses trial and error to gain access to a system. It involves using a wide variety of combinations of usernames and passwords in order to gain access. This type of attack usually requires the attacker to have access to a large set of usernames and passwords. A successful brute force attack can potentially lead to unauthorized access to confidential information, or even complete control of the system. As such, it is essential for organizations to have strong authentication and access control measures in place in order to prevent such attacks from occurring.
  • Buffer overflow is a type of cyber-attack in which a malicious actor sends more data than a program’s buffer can hold, resulting in an overflow of data into memory segments that are not part of the buffer. This overflow of data corrupts and overwrites existing data and can cause an application or system to crash or potentially be exploited by an attacker who can inject malicious code in order to gain access to a system. In order to prevent buffer overflows, application developers should use secure coding practices and proper input validation to ensure that data is validated and managed before being stored in memory. Additionally, system administrators can apply software patches to prevent attacks.
  • Bug Bounty is a form of reward system that encourages individuals to identify and report software vulnerabilities in exchange for a monetary reward from the organization or company. It can also be referred to as a Vulnerability Rewards Program, or VRP. This type of reward system leverages the capability and expertise of security researchers and hackers, in order to identify and disclose flaws or gaps in the organization's security perimeter. Bug Bounty is an important tool in helping to identify security vulnerabilities and thereby reducing the risk of data breaches and other malicious attacks. Organizations are able to gain valuable insight into their security posture, while utilizing a cost-effective approach to mitigating potential threats.
  • Bulk cash smuggling is the illegal transport of large amounts of currency outside of a country’s borders. It is usually done to avoid paying taxes or evading anti-money laundering laws, as the movement of large sums of cash is difficult to track. Bulk cash smugglers typically use false declarations of goods, or other methods, to transport the cash internationally. They may hide the cash in undisclosed goods, use false names and documents to purchase airline tickets or use other individuals to transport the cash on their behalf. Bulk cash smuggling can pose serious risks to the financial system as well as to a country’s economy.
  • The Bureau of Industry and Security (BIS) is a branch of the United States Department of Commerce that is responsible for regulating exports of sensitive technology and materials while protecting the security of the United States. The BIS administers export control regulations and carries out enforcement activities to ensure compliance with those regulations. It works to prevent the illegal movement of goods, services, and technology that pose a threat to the national security and foreign policy interests of the United States. The BIS also works to reduce the risk of money laundering and other financial crimes. By working to ensure export compliance the BIS is able to protect the interests of the United States and its citizens.
  • A burn phone, also sometimes known as a burner phone, is a pre-paid, anonymous mobile phone that you can use for short-term and disposable communication purposes. It does not have a contract or invoice attached and does not require a commitment to a particular carrier or provider. The primary benefit of a burn phone is that it provides a greater level of privacy and security by shielding a user from would-be attackers. The use of a burn phone can be helpful in staying anonymous while making a financial transaction, using dating apps, or accessing information on a public Wi-Fi network. Additionally, with the ever-increasing presence of cyber threats, burner phones serve as a safeguard by allowing the user to disassociate themselves from whatever duties they may be performing. The number associated with the burn phone is also easily discarded when no longer necessary, allowing the user to completely erase all traces of their presence. As such, burner phones are becoming(...)
  • Business Continuity Plan (BCP) is a set of procedures and instructions developed to ensure that an organization can continue operations in case of a disaster situation. BCP includes the necessary steps to be taken to ensure the continuity of essential services, processes, personnel, and facilities and covers the immediate response to the disaster, alternate resources to provide essential services, and measures for restoring all services to normal operations. BCP is also known as Disaster Recovery Plan (DRP) and encompasses strategies to mitigate the impact of damages. It emphasizes the backups, security, and availability of essential systems essential to the ongoing operations of an organization. BCPs are an essential element of cybersecurity for an organization, as it helps an organization prepare for and recover from any extreme threats.
  • Business Continuity Planning (BCP) is the process of creating, gathering and maintaining plans and procedures to ensure the continuity of a business in the face of major disruptions, such as natural disasters, data breaches, power outages, etc. It is the practice of designing, testing and running all necessary activities to reduce the probability of disruptions, and minimizing any damage caused by them. The process involves mapping out network connections, identifying risks and developing strategies, such as identity access management and backups, to respond if a disruption does occur. BCP also takes into account the financial impact of any downtime and the strategies to recover from it. BCP is a key component to ensuring the safety and security of a business and its data.
  • Business Disruption is a situation where the operations of a business are disrupted due to a security breach. It can occur due to a variety of factors, such as malware, phishing, ransomware, data breaches, hardware or software failure, malicious insider threats, social engineering, or distributed denial of service attacks. Business Disruption can lead to lost revenue, reputational damage, legal liability, or data loss. Organizations must have a comprehensive security strategy in order to be prepared and mitigate these risks. This includes having up-to-date anti-malware software in place, enabling two-factor authentication, maintaining secure backups, and having an incident response plan in case of a breach. With the right strategies in place, organizations can reduce the risk of Business Disruption and ensure their operations are not disrupted.
  • Business Impact Analysis (BIA) is a structured method and process of analyzing, assessing and quantifying the impact of a disruption to an organization and its operations. It is a critical component of an effective risk assessment and business continuity process, and can help organizations to identify, prioritize and respond to risks associated with potential disruptions. BIA focuses on the financial, legal and reputational implications of a disruption, allowing organizations to determine the scope and severity of the impact and determine the resources needed to recover. BIA can also be used to create contingency plans and evaluate the effectiveness of existing risk mitigation strategies.
  • Cache cramming is a type of attack that takes advantage of caches, which are temporary storage areas for data. The attacker sends a large amount of data to caches, hoping that the cache will be unable to process it. This causes the application or system to crash or become unavailable. This type of attack is used to overwhelm caches with large amounts of data, thus causing them to become overburdened or jammed. As the cache can no longer process information, it leads to a denial of service attack or data corruption. Cache cramming can be used to gain access to confidential information or to exploit security weaknesses in an application or system. It is a serious threat to cybersecurity, as it has the potential to cause significant damage to a system.
  • Cache poisoning is a type of cyberattack that exploits weaknesses in a computer’s Domain Name System (DNS) to redirect traffic away from legitimate websites and services to malicious ones. It works by corrupting a computer’s cached DNS records, which are used to quickly translate human-readable hostnames into their corresponding IP addresses, so that requests are routed to the wrong server. Attackers can use cache poisoning to redirect traffic from legitimate websites to malicious ones, steal user credentials, distribute malware, or intercept sensitive information. They can also use it to reroute emails, disrupt user access, or perform man-in-the-middle (MITM) attacks. As such, cache poisoning is a serious security issue that needs to be addressed. Cybersecurity experts can use a variety of techniques, such as strong authentication, encryption, and port randomization, to protect against this and other types of attacks.
  • CAPTCHA stands for Completely Automated Public Turing Test to Tell Computers and Humans Apart. CAPTCHA is an automated system used to verify the authenticity of a user by presenting them with a challenge that only a human can complete, usually by recognizing and typing a string of distorted letters, symbols, or numbers. CAPTCHA is used in online applications such as website forms and email logins to ensure that a real person is interacting with the system, rather than a bot or automated software. CAPTCHA is an essential method of protecting websites, applications, and other online resources from spam, malicious bots, and cyber attacks.
  • Card skimming is the process of fraudulently obtaining payment information from credit or debit cardholders by using a device installed in point-of-sale (POS) terminals, ATMs, or other machines used to process card payments. The device captures and stores the personal information stored on the magnetic stripe on the back of the card. This information can then be used to create a counterfeit version of the card, to make fraudulent purchases or withdraw funds from the cardholder's account. For example, criminals may attach a skimming device to an ATM to capture the information on cards that are inserted into the machine. As card skimming incidents can be difficult to detect, it is important for consumers to be familiar with the warning signs of a compromised card reader, such as loose or damaged components on an ATM, and to be vigilant about monitoring their accounts for any suspicious activity.
  • Cardholder Not Present (CNP) Fraud is a type of financial fraud which occurs when a criminal obtains a stolen credit card number and uses it to purchase goods or services without having the card present. This type of fraud is most commonly perpetrated online, over the phone, or through mail order purchases. CNP fraudsters often use stolen card numbers to purchase high-value items that can be easily resold, making CNP fraud an attractive choice for criminals. As an Anti-Money Laundering Expert, it is important to be aware of the techniques and behaviors associated with CNP fraud and to remain vigilant in monitoring for suspicious activity.
  • Carding is a type of fraudulent activity in which a criminal uses stolen credit card information to buy goods or services. This information can be obtained through a number of methods, including identity theft, phishing scams, skimming, and counterfeiting. Once the stolen information is obtained, it can be sold or used to purchase items for the criminal’s own use. This type of fraud is a global, multi-billion dollar problem, affecting millions of individuals around the world. To counter this activity, fraud prevention and cyber security measures, such as appropriately secured payment methods, increased fraud analytics, and improved user authentication, need to be implemented.
  • The Caribbean Financial Action Task Force (CFATF) is an inter-governmental body established to promote the implementation of legal, regulatory, and operational measures for combating money laundering and terrorist financing in countries of the Caribbean region. The CFATF is a regional body whose mission is to enhance and monitor the effectiveness of anti-money laundering and counter-terrorist financing policies in the Caribbean. It works with member countries to ensure that the policies adopted by each country are in accordance with international standards. The CFATF works closely with the Financial Action Task Force (FATF) and other regional organizations. It is comprised of 28 members and its headquarters is located in Port of Spain, Trinidad and Tobago.
  • A cash collateralized loan is a loan secured by cash held by the lender as a form of security. This type of loan is typically used for businesses that have limited access to traditional financing, such as start-ups or businesses with limited assets. The cash collateral essentially acts as a buffer for the lender, allowing them to reduce the risk of default or non-payment of the loan. Cash collateralized loans are commonly used to help prevent money laundering, as the lender can track the use of the loan funds.
  • Cash Deposits refer to the physical exchange of cash for a deposit into a financial institution, such as a bank. They can be made in-person at a branch location or through the use of an ATM. Cash deposits are an important area of Anti-Money Laundering (AML) compliance and require the financial institution to conduct additional due diligence to ensure that the deposit is legitimate and not related to illicit activities. This may include verifying customer identification, maintaining transaction logs and monitoring customer activity for suspicious patterns.
  • A cash-intensive business is a type of business that relies heavily on cash transactions for its operations. Such businesses typically have low levels of credit card sales or other forms of electronic payments. Examples of cash-intensive businesses include convenience stores, restaurants, and other retail businesses. As such businesses do not have access to modern transaction processing systems, they are often vulnerable to the threats of money laundering and other financial crimes. As an Anti-Money Laundering Expert, I am responsible for providing guidance and advice to cash-intensive businesses to help them protect themselves and their customers against money laundering and financial crime. This includes creating policies that promote transparency, detection and reporting of suspicious activities, and compliance with applicable laws.
  • A cashier's check is a type of check that is issued by a financial institution and is usually paid from the institution's own funds rather than from an individual customer's account. Cashier's checks are considered a more secure form of payment than a standard check as it is issued by a reputable financial institution and requires the institution to certify its validity. As an Anti-Money Laundering (AML) Expert, it is important to ensure that cashier's checks are used responsibly in order to prevent criminals from using them to launder funds. In particular, financial institutions must ensure that they monitor and properly document cashier's check transactions, as well as any other large-scale payments they make.
  • Catfishing is a form of fraud where people create false identities online, often with the intent to deceive others. It typically involves using a fictional name, creating a fake profile, and using pictures of someone else to create a false impression. Victims of catfishing can often be tricked into emotional or financial relationships such as sending money or supplying sensitive information. Catfishing can also be used to target vulnerable people or those looking for companionship, leading to emotional and psychological damage. It can have serious legal consequences and is one of the most common types of online fraud.
  • CC stands for Credit Card. It is a payment method that uses a unique 16-digit code, expiry date and a CVC (card verification value) code for authentication and approval for a purchase. CCs are widely accepted for online and offline payments. Fraudsters often set up fake websites to steal customer credentials and other important data through phishing attacks. It is therefore important to ensure your CC is kept secure and any payments are authenticated with your details. For extra security, you can opt for freezing or cancelling your card in case of a security breach. The most important aspects of CC security include strong passwords, two-factor authentication, regular updates and reviews of account statements, and monitoring your credit and financial accounts for suspicious activities.
  • Certificate-based authentication is a form of access control and authentication that uses certificates to validate the identity of users or machines. This process is used to ensure that only authorized users can access the services, applications, or data in an organization. The certificate-based authentication process includes the use of digital certificates, public key infrastructure (PKI), encryption, and digital signature technologies to verify the identity of the user or machine and to provide a secure method of authentication. The certificates used in this process contain information such as the user or machine's identity, the issuing authority, and a list of acceptable authentication types. Certificate-based authentication is widely used in organizations to protect against unauthorized access and to ensure the privacy of data and resources.
  • The Certified Anti-Money Laundering Specialist (CAMS) is an internationally recognized certification program developed by the Association of Certified Anti Money Laundering Specialists (ACAMS). The CAMS certification is designed to equip financial crime prevention professionals with the knowledge and skills to detect, deter, and prevent money laundering and financial crime. The certification covers various aspects of financial crime and money laundering detection, prevention and regulation. CAMS certified practitioners have received comprehensive training on Anti-Money Laundering (AML) regulations and best practices, and acquire the expertise to identify, assess, mitigate and investigate suspicious activities. The certification requires a combination of knowledge and experience, and requires passing an exam administered by the ACAMS. Successful CAMS-certified practitioners are required to adhere to continuous professional education standards for ongoing certification and(...)
  • A Certified Fraud Examiner (CFE) is a professional trained and certified to investigate and identify cases of fraud. CFEs have knowledge of a wide range of laws, regulations and investigative techniques, in addition to a thorough understanding of financial analysis and auditing. They use a systematic approach to uncover fraud and white-collar criminal activities, examining documents, interviewing witnesses and researching records to identify potential areas of risk or fraud. CFEs look for internal control weaknesses and indications of potential financial schemes. They also provide guidance on how to prevent future fraud, including suggesting changes to internal control procedures and systems. By staying up-to-date with the latest fraud trends and techniques, CFEs can help organizations protect against fraud and reduce losses.
  • Challenge-Handshake Authentication Protocol (CHAP) is a form of authentication which involves a three-way handshake process. It is a mutual authentication protocol in which both the client and server must prove their identity to each other for a secure connection. During the authentication process, the client will send a challenge value to the server, the server will then generate a hash value using the challenge and a shared secret key and send it back to the client. The client will then generate its own hash value using the same challenge and secret key, and compare the two hashes to verify the server's identity. CHAP is a secure method of authentication since the challenge is unique each time, making it much more difficult to break into the system.
  • Chargeback is a process where a cardholder or issuing bank reverses a transaction made with a credit or debit card. This is typically done when the cardholder disputes the validity of a transaction due to non-receipt of goods or services or if they believe the transaction was fraudulent. In this case, the cardholder will contact the issuing bank to request the funds be returned to their account. The issuing bank will then start a chargeback process, which will involve investigations and reviews to determine if a chargeback is necessary. If the investigation is successful, the transaction funds will be returned to the cardholder.

  • Chargeback fraud, also known as friendly fraud, is a type of fraud in which a person makes an online purchase, receives goods or services, and then requests a chargeback from the credit card issuer for the purchase amount. This fraud is committed by people who intend to obtain goods or services without paying for them. The cost of chargebacks: fees, lost merchandise, shipping costs, operational expenses, manual reviews and customer friction. Chargeback fraud prevention practices: clear bank statements, a robust refund and return policy, and a prevention solution with an adaptive AI engine, adaptive policy engine and case management hub.

  • A checksum is a mathematical value used to detect changes in data, such as data corruption. It is calculated from a block of data using an algorithm and is typically used to verify data integrity. A checksum can be used to ensure the data is identical to the original, and is usually compared against a previously calculated checksum to ensure the data has not changed. It can also be used to spot malicious data tampering and to identify malicious network traffic. Checksums are often used in communication protocols, data transmission systems, file formats, and software development to ensure the data is accurate and secure.
  • A Cipher is a type of encryption which uses algorithms to transform plain text into an unreadable cipher text. Ciphers are used to protect private data from unauthorized access. They often rely on mathematical algorithms to encode and decode data. A Cipher requires a key in order to operate; the key is used to determine the transformation of the plain text. Different types of ciphers exist that use different algorithms to encrypt and decrypt data. Block ciphers are commonly used, such as AES and 3DES, for securing data. Symmetric keys are also used to encrypt data, where the same key is used for both encryption and decryption. Asymmetric encryption also utilizes pair of keys to achieve encryption, one public and one private.
  • Ciphertext is an encrypted form of plaintext which has been put through an encryption algorithm. It is the encrypted form of data which is an unreadable form for users without the encryption keys. Ciphertext is also commonly referred to as a scrambled or encoded version of data. It is generated with an encryption algorithm and an encryption key which is used to encrypt the plaintext data. It is then transmitted or stored securely and can be decrypted using the encryption key to unlock the readable version of the data. It is a fundamental tool in cybersecurity to ensure the data is transmitted and stored securely.
  • Click Fraud is a type of online fraud that occurs when someone maliciously clicks on an advertisement or link to generate revenue for the fraudster. It typically involves automated processes that generate fraudulent clicks, or clicking rapidly on multiple ads to generate a larger amount of revenue. Click fraud is usually done to increase costs for advertisers, while the fraudsters reap the rewards. It often involves bots, which are computer programs designed to fraudulently generate clicks. Botnets can also be used by fraudsters to fraudulently click on ads leading to lost revenue for the advertiser. It is important for advertisers to take precautions to protect themselves from click fraud, such as implementing a click fraud detection system.
  • Clickjacking, also known as User Interface (UI) redressing, is a malicious form of cyber attack on websites or applications. It happens when hackers use hidden frames, transparent overlays, and other deceptive methods to trick users into clicking on something different from what they think they are clicking on. This can take the form of a victim unknowingly clicking a link which causes damage by downloading malicious software, or clicking a button which causes an unintended action such as helping an attacker take control of their account. Clickjacking can also be used to activate a ‘like’ action on a page, giving the attacker access to personal information or account details. The best way to avoid it is to check the authenticity of the website, content, or forms.
  • A Client-Side Attack is an attack on the client-side of an application, program, or network. This type of attack targets the user's computer, laptop or mobile device accessing or using the application or program. Examples of such attacks include, but are not limited to, malicious javascript, cross-site scripting (XSS), malware-infected downloads, and social engineering. These attacks can be used to gain access to sensitive information, steal data, or to gain control of the device. Client-side attacks are of particular concern as they can be incredibly difficult to detect, with users often unwittingly supplying the attackers with the tools and data that they need to succeed.
  • Clientless SSL VPN is a type of virtual private network (VPN) technology that uses the secure sockets layer (SSL) protocol to create a secure and anonymous tunnel between the user's device and the remote server. This type of VPN allows the user to access a secure, private network without needing to install any additional client software, making it a convenient and cost-effective option for organizations with remote workers or users. Clientless SSL VPNs enable access to internal resources, applications, and data, while also providing enhanced encryption to protect data while in transit. These VPNs also offer additional security benefits, such as an integrated firewall, server authentication, and two-factor authentication.
  • Cloud security is the set of procedures, technology and protocols designed to ensure the security of cloud-based products and services including data backups, data storage, data processing, and access control. It helps protect against unauthorized access, data leaks, and malicious attacks. By establishing and maintaining secure cloud infrastructures and tightly controlling access to cloud data, organizations can ensure that their customers’ data remains safe and secure. Cloud security also relies on technologies including firewalls, encryption and authentication, as well as regular system monitoring and audits to protect against threats. By protecting data and systems in the cloud, organizations can reduce operational costs, improve operational agility, and provide better protection for business critical data.
  • Cloud Computing is a type of computing that involves hosting applications and storing data through a network of remote servers. It is a scalable, reliable, and cost-effective way to access computing resources, such as infrastructure and software. Cloud Computing offers benefits such as the ability to access applications and data from anywhere, virtually anytime. Additionally, it can reduce the cost of storage, maintenance, and overall management of systems. It also provides enhanced security measures, as well as improved flexibility and reliability. Cloud Computing is used by many businesses and organizations, as it allows them to focus more on their core activities, while relying on remote servers to manage their data.
  • Cloud Computing Security is the process of protecting data and functionality related to cloud-based computing systems and services. It involves the implementation of rigorous security measures, protocols, and tools to ensure the integrity and availability of cloud-based data and resources. Security measures such as multitenancy, containerization, encryption, secure key management, secure access management, and secure application development are essential in ensuring the secure use of cloud computing systems. Cloud computing security also includes using secure and authenticated user access, as well as secure APIs and communication channels. It is also important to maintain a secure environment to avoid data leakage and other malicious activity. Cloud computing security is a complex and ever-changing field, with new threats and solutions being discovered daily.
  • Cloud Security is the practice of protecting data stored and accessed via cloud computing services. It is important for organizations that use cloud computing services to develop a cloud security strategy. Cloud security encompasses a wide range of topics, from protecting data from breaches and unauthorized access to ensuring that applications function properly. This requires implementing security measures such as encryption, authentication protocols, two-factor authentication, and firewalls. It also requires auditing cloud services to ensure that access to data is properly managed. Additionally, organizations must monitor the cloud service provider for compliance with industry standards and regulations. Cloud security is a complex subject that requires expertise and a comprehensive security strategy.
  • Collection Accounts refer to accounts created by money service businesses or financial institutions in order to receive funds from customers for the purpose of providing payment or loan services. Money launderers may take advantage of the collection account process to move funds from one account to another and bypass anti-money laundering regulations. Collection accounts can be opened by banks, financial services companies, or money transfer companies. As an Anti-Money Laundering Expert, it's important to ensure collection accounts are opened and managed in a safe and secure manner, and that the customer's identity is verified prior to creating these accounts. Additionally, it is critical to ensure that the collection account activity is regularly monitored for any suspicious activities by using specialized software and tools.
  • The Comisión Interamericana para el Control del Abuso de Drogas (CICAD) is a specialized agency of the Organization of American States (OAS). It is composed of 33 Member States that work to combat the production, trafficking, and abuse of illegal drugs in the Americas. It creates strategies, recommendations, and technical cooperation initiatives to help Member States strengthen their capacity to fight illicit drugs and money laundering and to support drug prevention, treatment, and rehabilitation. CICAD also works to promote public health, scientific research, and public security initiatives, while strengthening national and international cooperation.
  • Commission Rogatoire is an international legal procedure allowing a court in one country to obtain evidence from a court situated in another country. This request is made through the country’s diplomatic channels and seeks the assistance of foreign authorities. As an Anti-Money Laundering Expert, I am familiar with the use of Commission Rogatoire, as it is an important tool in the fight against money laundering. It allows for cross-border exchanges of information, which can help in the identification of criminals who attempt to hide their activities by moving funds across borders. Additionally, it can be used to trace the source of funds, and identify other potential money laundering activities.
  • Common Gateway Interface (CGI) is a protocol for connecting web clients and web servers. It enables web servers to exchange information with web applications running on remote servers. CGI acts as a gateway, allowing web servers to send requests to and receive responses from web applications. CGI scripts are created using programming languages such as PHP, Perl, and Python, and are used to produce dynamic web content such as forms, surveys, forums, and other content that can be customized based on user input. The responses generated by the CGI scripts are then sent back to the web server, which forwards them to the client browser. CGI is a powerful tool for creating engaging user experiences and providing a more secure web environment.
  • Common Vulnerabilities and Exposures (CVE) is a dictionary of publicly known cybersecurity threats. It is created, maintained, and sponsored by the Mitre Corporation, a not-for-profit organization. CVE is the industry-standard reference for security vulnerabilities and exposures that enables organizations to quickly identify and protect against cyber threats. It catalogues vulnerabilities in software and hardware products, allowing security professionals to stay informed on the latest vulnerabilities found in the industry. CVE standards help organizations to develop stronger security processes and prioritize issues so they can quickly address critical areas. It provides a comprehensive list of vulnerabilities, common attack vectors, and associated resources, making it an invaluable resource for organizations in need of complete cybersecurity visibility.
  • Compliance is the process of ensuring that organizations, individuals and other entities comply with laws, regulations, rules, codes of practice and industry standards. It involves both the proactive measures taken to prevent breach of laws and regulations, and the reactive measures to address any issues that arise. Compliance includes conducting internal reviews, establishing policies, procedures and controls, and monitoring and testing these measures to ensure they are effective. It also involves establishing an effective system of internal and external communication to ensure that stakeholders are kept informed of any changes or potential risks associated with compliance.
  • A Comprehensive Sanctions List is a list of individuals, organizations, and entities that are subject to economic sanctions imposed by a government. It typically includes information on the persons or organizations targeted, the reasons for being targeted, and the specific measures being taken. The list also typically includes details on the scope of the sanctions, such as the countries or areas affected, and the dates for which the sanctions are in effect. This list is compiled and maintained by a country's government to ensure compliance with international sanctions or other restrictions, and to protect itself from illicit financial activities.
  • A Computer Emergency Response Team (CERT) is a group of specialized experts that respond to digital security incidents. This team is responsible for providing a coordinated response to cyber security threats, related digital security incidents, and attempting to mitigate their impact. The team works to maintain the confidentiality, integrity and availability of digital systems and services. CERT teams are specially trained and may include experts in digital forensics, malware analysis, incident response, malware response and remediation, application security, risk management, and other areas. They monitor security news, develop and deploy countermeasures, communicate warnings, and have the resources available to respond to digital security incidents. CERTs are in place to ensure the security and health of organizations’ digital systems.
  • Computer Fraud is a type of criminal activity involving deception and the manipulation of computers. It involves the unauthorized use of computers, networks, and systems to commit fraud, steal information and commit other illegal activities. Examples include hacking, phishing, ransomware, and malware. Computer fraud can lead to identity theft and financial losses for individuals, businesses, and governments. It can involve social engineering, the exploitation of application or system vulnerabilities, or the use of malicious code. It is important for individuals and organizations to use strong authentication and encryption systems to protect their sensitive data and systems from attack. In addition, it is important to keep systems updated in order to reduce the risks associated with computer fraud.
  • Computer Network Defense (CND) is a cybersecurity strategy that focuses on protecting computer networks or systems from malicious or unauthorized access. CND includes activities like setting up firewalls and filter rules to prevent access from external sources; monitoring and analyzing system activity to detect anomalies; authentication and authorization processes to verify user identification before access is granted; and patching of vulnerable software programs. CND also involves reviewing system and network architecture to identify weaknesses and protect against known attack vectors. As part of an overall cybersecurity strategy, CND provides a critical layer of protection and helps to minimize the possibility of a successful cyber attack.
  • Computer System Penetration is the process of attempting to gain unauthorized access to a computer system or relevant data, which has been previously secured from outside sources. It is also referred to as ‘penetration testing’ and involves exploitation of existing software to gain access, explore and modify files, as well as potentially disrupt the system’s operations. Computer System Penetration is carried out by security experts and is used to test the strength and effectiveness of an existing security system and detect any weaknesses which can help strengthen security. The techniques used for penetration testing include trying different passwords, using and exploiting vulnerabilities in programs and systems, using automated tools, and carrying out social engineering and other related activities.
  • Concentration accounts, also known as settlement or omnibus accounts, are those accounts used by financial institutions to enable the settlement of payments on behalf of their customers. These accounts contain pooled funds from multiple customers, enabling the institution to transact with other counterparties, such as banks. Concentration accounts are commonly used for the settlement of large payments, payments to multiple counterparties, and/or payments with multiple currencies. The funds in these accounts are often held as collateral in order to guarantee the settlement of payment obligations. While concentration accounts provide major benefits to financial institutions and their customers, they can also be used to facilitate money laundering activities. As such, it is important that financial institutions have the proper controls in place to detect and prevent any suspicious financial activity.
  • Concentration risk is the risk that arises when a large portion of an individual’s or organization’s assets are concentrated in one particular asset or sector. This type of risk can particularly be of concern when it comes to Anti-Money Laundering (AML) regulations, as it could make an individual or organization more vulnerable to money laundering. It is therefore important to understand the implications of concentration risk and take measures to prevent it. This could include diversifying investments, avoiding too many transactions with a single counterparty, and avoiding suspicious transactions. Utilizing appropriate risk management tools and strategies can help to reduce the risk of concentration and ultimately help organizations comply with AML regulations.
  • Confirmation fraud is a type of identity theft where the criminal steals personal information and uses it to pose as the victim to carry out various transactions. Criminals usually use this type of fraud to change the victim’s account details, such as mailing address and contact information, to gain access to credit cards and bank accounts. Once the criminal has access to these accounts, he/she may use them to purchase goods and services without the victim’s knowledge. It is important to protect your personal information and be knowledgeable about online security measures. A few key techniques to help avoid confirmation fraud include frequent checking of credit reports, shredding personal documents, and using strong passwords for online accounts.
  • Conflict of Interest (COI) is a situation wherein an individual or organization has competing interests or loyalties that could potentially lead to improper or unethical decisions and behavior. COI can arise in many different circumstances and may involve financial issues, business relationships, career ambitions, political issues, and personal relationships. For example, a person who holds a job in a cyber security firm, but who also holds shares in a rival firm, has a clear COI. COI can have damaging effects on both individuals and organizations. It creates an unbalanced decision-making process, potentially resulting in unfair advantages, biased outcomes, and unjust rewards. Moreover, it erodes trust between stakeholders and weakens the integrity of the entire organization. Therefore, COI must be carefully identified, tackled, and managed, either through policies, implementation of strict standards and processes, or through adequate compliance procedures.
  • Consolidation of goods is a term used in anti-money laundering (AML) to describe the process of combining numerous individual transactions into a single transaction, in order to reduce the risk of laundering money. This process includes the grouping of several smaller transactions into one larger transaction and is usually done to reduce the number of transactions that need to be reported. The transactions are usually from the same source, and the funds are usually sent to the same beneficiary. The consolidation process is designed to make it easier for AML experts to identify suspicious activity and uncover any potential money laundering schemes.
  • Consumer Authentication is the process used by organizations, businesses and banks to verify that a customer is who they claim to be. This can be done through a number of ways, such as through the use of passwords, biometric authentication, secret questions, or one-time passwords. The authentication is done by the user providing information that is known only by them. It is designed to ensure that only valid, authorized individuals have access to an organization's systems and data, while protecting a company from fraudulent activities such as identity theft and data breaches. It is an essential part of fraud prevention and cyber security, as it helps to ensure the safety and integrity of an organization's data.
  • Contract fraud involves someone dishonestly obtaining financial gain or economic benefit by deceiving another party or benefitting from a breach of contract. This could be through misrepresenting facts, misappropriation of funds, concealing important information, or intentional overpayment or overbilling. The perpetrator may be a person inside or outside the company, and the fraud can be in the form of money, services, or intangible benefits. This type of fraud is difficult to detect as perpetrators will often take great pains to cover their tracks. Companies should have adequate procedures in place that limit the chance of any employee taking advantage of their position to commit contract fraud.
  • A cookie is a small piece of data stored on a user’s computer that is sent from a website and stored in the user’s web browser. Cookies are used to maintain a record of visitors to a website and can be used to personalize a user's experience while on that website. They are typically used to store user preferences, such as language, font size, and other settings, as well as items added to a shopping cart or to remember a visitor when they return to the website. Cookies can be used to track a user’s browsing activity and history, and can be used as a security measure used to authenticate users and prevent unauthorized access to a website or system. Cybersecurity experts should be aware of cookies and other forms of tracking and be aware of the risks they can pose to user privacy and security.
  • Corporate fraud refers to a deception or misuse of a business' funds, assets, or personnel by an individual or group within the organization. Such fraud can range from small-scale embezzlement to elaborate schemes involving large amounts of money, resulting in significant financial losses to the business. Examples include false invoicing, altered documents, money laundering, and misappropriation of corporate funds. The aim is usually to gain a personal or financial advantage. It is important to be aware of the signs of corporate fraud and to have clear protocols in place to reduce the chances of it occurring.
  • Corporate Identity Theft is when a criminal uses a company's name or logo to obtain goods, services, or financial gain. It is a type of fraud that is rapidly growing as technology advances and as data becomes more accessible. This crime involves the breach of a company’s customer data, such as account numbers, credit card numbers, and confidential information. It can include the creation of fake identities linked to a company’s name, or impersonation of the company’s employees. It could also involve the misuse of a company’s funds or the illegal use of its logo or name. To reduce the risk of corporate identity theft, companies should always ensure customer data is secured, create fraud prevention protocols, and verify customer information. Additionally, companies should always remain vigilant and investigate any suspicious activities.
  • Corporate vehicles are business entities that are used to facilitate the financial transactions of a particular company by providing an additional layer of legal protection and minimizing tax liabilities. Corporate vehicles are often formed to shield the company from any potential legal or financial risks and to ensure that transactions are conducted in an efficient and cost-effective manner. These entities also help separate the ownership of assets from the personal affairs of a company’s owners, directors or shareholders. Corporate vehicles usually include limited liability companies, limited partnerships, trusts, and other legal entities.
  • Correspondent banking is a financial services relationship between two separate banks. One bank, the “respondent bank”, provides services for the other, the “correspondent bank”. The services can include allowing the correspondent bank to process checks and conduct other types of payment transactions, to provide access to ATM networks, or to enable the correspondent bank to offer banking services to customers in countries where it does not have a physical presence. As an anti-money laundering expert, this relationship should be monitored closely to ensure that the correspondent bank is not being used to facilitate any illegal activities or transfers of money.
  • Corruption is an illegal act whereby a person or organization impairs, influences or misuses their establishment or services for personal or financial gain. It generally involves using deceptive methods to gain an advantage for oneself or for another. Corruption can take many forms, such as fraud, bribery, extortion, embezzlement, influence peddling, and insider trading. Money laundering, terrorist financing and other criminal activities such as tax evasion are also common examples of corruption. The impact of corruption is far-reaching and can be found in many aspects of society including politics, business, and government. It can lead to a breakdown in trust, increased income inequality, and hinders economic development. It is essential to combat corruption in order to promote transparency, fairness and trust in our institutions, businesses and public services.
  • Counter Financing of Terrorism (CFT) is an important aspect of anti-money laundering efforts, with the goal of preventing terrorist organizations from using the global financial system to finance their activities. CFT involves the disruption of terrorist financing activities, and includes both proactive measures to prevent terrorist financing and reactive measures in response to specific threats. These measures include the development of financial intelligence units, the identification of suspicious transactions and behaviors, the enforcement of sanctions and the freezing of assets, the pursuit of international cooperation, and the development of effective banking regulations. CFT also requires financial institutions to strengthen their internal controls in order to detect and prevent the financing of terrorism.
  • Counter-Terrorism Financing (CTF) is the provision of funds or other assets to a person or entity in order to finance terrorist activities. CTF takes many forms and can involve a wide range of activities including cash donations, the transfer of funds through hawala networks, the provision of false documentation, and the purchase of weapons, explosives and materials to facilitate terrorist acts. CTF is an illicit activity and is thus subject to stringent countermeasures and is actively monitored and tracked by various financial regulators. Anti-Money Laundering (AML) experts are instrumental in identifying, investigating and mitigating the risks associated with CTF.
  • Counter-terrorism financing (CTF) is a set of measures designed to disrupt the financing of terrorism and to strengthen the resilience of the financial system against abuse by terrorists and their networks. CTF efforts are aimed at preventing, detecting and suppressing the flow of funds to terrorist groups and preventing the use of the financial system to support terrorist activities. CTF also seeks to detect and disrupt the financing of terrorist activities and networks. This includes the identification and freezing of assets, the disruption of terrorist financing networks, and the criminal prosecution of those responsible for terrorist financing. The goal of CTF is to reduce the risk of terrorist attacks by denying the funds necessary for their preparation and execution.
  • A counterfeit card is a version of a legitimate card that has been illegally created, often with the sole purpose of making illegal purchases or fraudulently obtaining money. The card usually carries the branding of a legitimate financial institution and typically bears the same physical features as an authentic card. It is produced with the intent to deceive and can be used for activities such as purchasing goods or withdrawing cash. The card may also have an altered magnetic stripe, chip or other security feature that allows the perpetrator to make purchases without the banking institution's approval. Counterfeit cards can be created from a stolen account number, blank card or pre-purchased stolen chip or stripe. Regardless of how it is produced, it can be used for a variety of fraudulent activities with intent to steal money or gain access to funds. In some cases an identification document may also be forged in order to provide the necessary credentials for the fraudulent activity.
  • Counterfeiting is the act of making or producing an imitation of a product without authorization from its creator. It is a form of intellectual property theft that copies the appearance, brand, and packaging of a product without consent of its creator. Counterfeiting is especially common with luxury goods and electronics. It is a major problem for manufacturers because counterfeiting threatens to undermine their business by taking away sales and profits, and tarnishing their reputation. Counterfeiting is also a growing problem for consumers as counterfeit items are usually poor quality and could even be dangerous or harmful. Fighting counterfeiting requires a combination of strategies, such as increased education of consumers, improved security measures, government-enforced laws, and collaborations between brands and governments.
  • A countermeasure is any action, device, procedure, or technique implemented to protect against, detect, intercept, or mitigate the effects of cyber-attacks. Countermeasures can be either active or passive and are typically used in combination to provide a comprehensive defense against cyber-attacks. Active countermeasures are typically software-based and can include firewalls, antivirus programs, intrusion detection systems, and access control systems. Passive countermeasures include physical security controls such as locked doors, motion sensors, CCTV, and audit trails. By utilizing both active and passive countermeasures, organizations can ensure that they have comprehensive protection against the various threats they face when it comes to their data and networks.
  • Counterparty risk is the risk of financial loss to a party that has entered into a financial contract with another party. It arises when the counterparty to a financial contract fails to fulfill its contractual obligations. Counterparty risk can be found in all types of financial contracts, such as derivatives and securities, and can be both direct and indirect. Direct counterparty risk is the risk of financial loss due to the non-performance of a counterparty’s contractual obligations, while indirect counterparty risk is the risk of financial loss due to the non-performance of a third party connected to the contract. Counterparty risk can also arise from money laundering activities, as financial institutions that unknowingly accept or handle illegally obtained funds can face significant financial and legal risks. Therefore, it is important for financial institutions to implement effective anti-money laundering controls in order to prevent counterparty risk.
  • A covert channel is a type of communication between two entities that hides the content of the communication, as well as its existence, from third-parties. This type of communication is typically done without the knowledge of the system administrators, as it uses existing protocols or design flaws in the network architecture. Despite this, a covert channel can be used to transmit sensitive information, such as a password, between two entities. As a result, these channels can pose a serious security risk for any organization. Therefore, it is essential for cybersecurity experts to be aware of the potential risks posed by covert channels and to take steps to mitigate them.
  • A crawler, also known as a web crawler or web spider, is a program or automated script which browses the World Wide Web in a systematic and automated manner. Crawlers process inter-linked webpages and follow links to other pages with the ultimate goal of crawling and indexing the entire internet. The collected data is used to create search engine database, identify malicious links and detect spam or other suspicious content. By monitoring the entire internet, crawlers can help to detect and prevent fraud, cyber attacks and other malicious activities. Crawlers can also discover new content, new services and websites, allowing search engines to update and improve their indexing database in real-time. This helps in improving the overall user experience.
  • Credential stuffing is a form of cyber attack in which stolen or leaked usernames and passwords from one system are used to gain access to other systems. Instead of simply entering the details in one system, the attacker may employ automated tools which will try to login to other websites using the stolen credentials. This is an especially dangerous technique as users commonly use the same usernames and passwords on multiple sites, so if the attacker can gain access to one, they could potentially gain access to everything that person has access to. To prevent against this attack method it is important to use unique passwords, two-factor authentication and other security measures to protect yourself and your accounts.
  • Credentials are pieces of information that validate an individual’s identity, often used to access protected or restricted areas, systems, and services. This can include usernames and passwords, as well as physical items like ID cards, security tokens, or biometric data. Through a combination of authentication methods and strong passwords, credentials can be used to protect sensitive information, limiting access to only those with the legitimate credentials. By using a multi-layered security process to validate credentials, organizations can protect online services from potential abusers or cyber criminals. Credentials are an essential part of any successful fraud prevention and cyber security strategy.
  • A Credit Bureau is an entity (private company, state agency, or other office) that collects, stores and distributes financial and personal information about individuals. This data is gathered from banks, lenders, credit card companies, employers and other sources. The information stored in a Credit Bureau includes an individual’s credit history, which includes the amount of credit used, how long it was used, whether the credit was paid off, and other details. This data helps banks and other lenders assess an individual’s creditworthiness and the likelihood that they will default on the loan they are seeking. Credit Bureaus data is also used by employers to run employee background checks and by insurers to determine an individual’s risk level.
  • Credit card fraud is defined as an unauthorized transaction made with a stolen credit card or card information. It takes multiple forms, including identity theft, phishing scams, skimming, and the use of malware to gain access to card information. In most cases, the person perpetrating the fraud is not the individual who originally holds the card or card information. It is a form of identity theft and can have serious financial implications for the cardholder. Credit card fraud is a serious issue and is considered a crime in many jurisdictions around the world. Banks and digital payment processors alike must take steps to protect their customers’ information and prevent fraud from occurring.
  • Credit Card Fraud Detection is a process to ensure security and detection of fraudulent activities with credit card transactions. It relies on sophisticated algorithms, artificial intelligence, data analytics and machine learning technologies which allow computers to detect suspicious patterns that indicate fraudulent activity. Fraud detection solutions use analytics to compare transactions to the user’s normal behavior, determine if the transaction is authentic, and flag any suspicious activities for further investigation. It also contains technologies such as biometrics and multi-factor authentication to verify user identity, as well as more advanced techniques such as advanced pattern recognition, risk assessment and link analysis in order to protect user data from criminal activities.
  • Credit card numbers are unique financial identification numbers that are typically 16 digits long and are used to make payments through credit cards. The beginning six digits represent the bank identification number (BIN), the first two numbers typically denote the credit card type and the rest of the digits are used to identify the card holder’s account number. Additionally, the last digit of the credit card number is a checksum which is used for authentication purposes. Furthermore, the credit card number is usually accompanied by security/verification codes typically printed on the back of the card. These codes are necessary to verify the cardholder’s identity online or with merchants. Credit card numbers are central to the majority of online and retail purchasing transactions and thus must be kept secure at all times.
  • A credit card refund scheme is a type of fraud where individuals fraudulently obtain refunds from merchants by creating false accounts with fabricated payment information or fraudulently using real customers' payment information. The process typically starts by using stolen credit or debit card information to make purchases, then returning products later. Fraudsters are able to submit claims or disputes to the credit card companies and receive refunds due to erroneous charges, unauthorized purchases, or non-delivered goods. In some cases, the victims of a credit card refund scheme may not realize that their account has been compromised until it is too late. The scheme is often difficult to detect due to the complex process involving multiple organizations, including retailers, card issuers, payment processors, and the credit bureaus. The costs of this type of fraud can be significant for both consumers and card issuers alike.
  • Credit cards are a form of payment issued to individuals by a financial institution such as a bank. They are a form of revolving credit and allow the individual to pay for goods and services using borrowed funds, up to a predetermined limit. Credit cards can be used to purchase items online, pay bills, and withdraw cash from ATMs. Credit cards can also be used to commit financial crimes such as money laundering. Money laundering is the process of disguising the origin of illegally obtained money by passing it through a complex series of transactions in order to make it appear legitimate. It is the role of an anti-money laundering expert to monitor and detect suspicious activity associated with credit cards. This includes monitoring transactions for large amounts of money and identifying unusual or suspicious patterns of activity.
  • Credit fraud is a type of fraud involving the unauthorized use of someone's personal, financial or credit information. It is defined as the intentional use of false or stolen identity information in order to obtain goods, services or money from another person without their knowledge or consent. Credit fraud can be committed in a number of ways including phishing, skimming credit cards, using stolen or counterfeit cards, or using a stolen or fake account number and routing. Credit fraud is a serious crime and can potentially lead to significant financial losses, identity theft or ruin an individual or business’s reputation and credit rating. Prevention methods include guarding the credit card data, passwords and personal information, monitoring one’s credit accounts, and reporting suspicious activity.
  • Crimeware is a type of malicious software that is specifically designed to carry out criminal activity. Crimeware can be used to access confidential information, steal valuable data, or disrupt an organization’s networks or services. Crimeware typically takes the form of viruses, worms, Trojans, rootkits, and other malicious programs designed to give an attacker access to a target system or networks. Crimeware may also be used for more nefarious activities, such as deploying ransomware and extorting victims. As a cybersecurity expert, it is your responsibility to understand the latest crimeware trends and develop strategies to protect your organization’s networks and data from attack.
  • Criminal financing is the term used to describe the process of obtaining and utilizing funds to finance illegal activities. It involves the use of legally obtained funds, often through legitimate business activities, to fund illegal activities. It can also include the use of proceeds from illicit activities to fund further criminal activity. This can include the use of money laundering techniques, such as the use of shell companies and offshore accounts, to transfer funds to hide their true origins. Anti-Money Laundering experts are tasked with understanding and thwarting criminal financing activities. This involves ensuring compliance with relevant legislation, monitoring suspicious transactions, and examining financial accounts for any signs of illicit activity.
  • The term "Criminal Proceeds" refers to any money or other assets gained as a result of illegal activity. This could include money gained through fraud, drug trafficking, money laundering, embezzlement, or bribery. Money laundering is a particular concern, as it involves the intentional attempt to conceal the source of illegally obtained funds in order to disguise them as legitimate income. Anti-Money Laundering experts are responsible for identifying and preventing criminals from using the financial system to hide their illegal activities. They employ a range of tools to identify suspicious financial transactions, monitor customer accounts and investigate reported suspicious activities.
  • Critical infrastructure is a term used to refer to the systems, networks, and processes that are essential to the functioning of a nation's security, economy, public health, and safety. This includes physical and cyber-based infrastructures such as energy systems, transportation systems, healthcare systems, communication networks, and financial services. As a Cybersecurity Expert, my role is to protect these assets from cyberattacks and other malicious activities while ensuring they remain resilient and capable of providing vital services. This is done through risk assessment and digital security analysis, development of defense strategies and policies, and monitoring of potential threats. The security of critical infrastructure is essential in today's world, and I am proud to be part of the effort to protect it.
  • A critical update is a software patch or update that is of critical importance to the cybersecurity of an organization's infrastructure. A critical update is typically released by the software provider and is designed to patch a security vulnerability in the software or hardware being used. The critical update could also include additional security features such as firewalls, antivirus and malware protection, and patching of known zero-day threats. Organizations should ensure that all critical updates are applied as soon as possible due to the severity of the security vulnerabilities they address. Not doing so can leave an organization vulnerable to attack and exploitation by malicious actors.
  • Cross-border money laundering is the process of concealing the origin of illegally obtained funds by transferring them across national borders. This type of money laundering is commonly used by criminals who wish to avoid detection by domestic authorities. It involves moving large amounts of money from one country to another and disguising the source of the funds by using a complex network of financial transactions. This activity is often done through shell companies, banking accounts held in offshore jurisdictions, and a variety of other methods. It can lead to the inflow of illegal funds which are then used to fund terrorism, support organized crime, and finance various other illicit activities.
  • Cross-border transactions involve the movement of funds from one country to another. This type of transaction can occur between individuals, businesses, governments, or banks. In order to prevent money laundering, international organizations have established regulations and protocols to monitor cross-border transactions. These regulations include reporting of income, exchange of information between countries, and proper documentation of the transaction. These measures are in place to protect countries from illicit activities such as fraud, corruption, and money laundering. Despite the implementation of these regulations, it is important for anti-money laundering experts to remain vigilant and ensure that cross-border transactions are properly documented and reported.
  • Cross-site scripting (XSS) is a type of computer security vulnerability typically found in web applications. It allows attackers to inject malicious scripts into otherwise benign and trusted websites. This can be used to hijack user sessions, deface websites, or redirect users to malicious sites. XSS attacks are typically carried out by injecting malicious code into HTML input forms or online message boards. In order for this type of attack to be successful, a web application must have low input validation or no input validation at all. XSS is an incredibly dangerous attack vector and should be mitigated as well as monitored in any organization handling sensitive data.
  • Cross-Site Scripting (XSS) is a type of cyber attack that involves injecting malicious code on a web application. The malicious code is typically injected into the application's client-side code, such as HTML, JavaScript, and CSS. XSS can allow attackers to access user information, manipulate the user interface, redirect users to malicious websites, or even launch a variety of other attacks. XSS exploits are often used by malicious hackers to gain access to sensitive data, such as usernames, passwords, and even credit card numbers. XSS attacks can also be used to gain control of a website, allowing attackers to alter the content and layout of the page. As such, XSS is a serious threat that needs to be addressed by organizations that use web applications. It is important to ensure that web applications are protected against XSS attacks by using strong input validation and output encoding.
  • Cryptanalysis is the science of deciphering encrypted messages without the need of possessing the original encryption key. An individual or entity skilled in this practice is considered a cryptanalyst. The objective is to decrypt the ciphertext and gain access to the plaintext message. Though there is an array of cryptanalysis techniques, they all rely on an understanding of the cryptographic cipher used to encrypt the data. Popular methods include frequency analysis, character substitution, and brute force attacks. As cyberattacks have increased in complexity and frequency, cryptanalysis has become an essential tool in maintaining digital security and privacy.
  • Cryptocurrency is a digital asset used as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies typically do not exist in physical form, but are instead held in a digital wallet and can be used to purchase goods and services online. Cryptocurrencies are not issued by any central authority, making them decentralized and thus resistant to government interference or manipulation. As such, cryptocurrencies are not subject to regular banking regulations and are considered a form of virtual currency, which can be used to purchase goods and services, or exchanged for other assets.
  • A cryptographic algorithm is a mathematical process used in the encryption and decryption of data. It is used to secure information by transforming it into an unreadable form, known as ciphertext, to prevent unauthorized individuals from accessing it. Cryptographic algorithms are implemented using various techniques and protocols, such as public-keycryptography, symmetric key cryptography, hash functions, and digital signatures. Cryptographic algorithms allow users the ability to transmit data securely and confidentially, ensuring its integrity and authenticity. Cryptographic algorithms are a critical component of modern information security and are used to protect sensitive data transmitted over the internet, mobile networks, and other computer networks.
  • Cryptography is a branch of cybersecurity that deals with the secure transmission of data and is used to protect sensitive information from malicious actors. It involves the use of techniques such as encryption and hashing to obfuscate data and make it unreadable to unauthorised parties. It works by allowing only those with the correct encryption key to access the data. Cryptography also provides mechanisms for status verification, digital signatures, and non-repudiation to ensure that data is not modified during transmission. In short, cryptography is an effective way to protect data from unauthorised access and keep it secure.
  • Cryptojacking is a form of malicious cyber-attack in which a hacker uses a computer or network device to secretly mine cryptocurrency, most commonly through the installation of malware. The malware enables the attacker to gain control of the victim’s computing resources and use them for their own profit. The goal of cryptojacking is to increase the cryptocurrency holdings of the attacker at the expense of the victim, usually without the victim’s knowledge or consent. The malicious software can take the form of hidden codes, scripts, and mining applications that can be embedded into webpages, unsuspecting programs and apps, or other digital sources. Cryptojacking can be used to steal money and resources from a victim, redirect advertising revenue and give the attacker access to confidential business data. It is a form of cyber-attack that is constantly evolving and becoming more difficult to detect and protect against.
  • Currency smuggling is the illegal movement of currency (cash and/or monetary instruments) across borders without notifying or reporting to the relevant authorities. This activity is generally linked to other illegal activities such as tax evasion, money laundering and terrorism financing. Currency smuggling is considered a crime because it can facilitate the transfer of large sums of money, often derived from illegal activities, to other countries without detection and without taxes or duties being paid. Currency smugglers may use a variety of methods to move money, such as concealing cash in luggage or shipped parcels, or using electronic transfers to move funds to accounts in other countries. As an Anti-Money Laundering Expert, I am aware of the risk of currency smuggling and take steps to identify and report suspicious activities and transactions.
  • A Currency Transaction Report (CTR) is a form used by U.S. financial institutions to report all currency transactions exceeding $10,000 to the Department of the Treasury. Under the Bank Secrecy Act (BSA), financial institutions must file a CTR with the Treasury's Financial Crimes Enforcement Network (FinCEN) for every currency transaction over $10,000. The CTR contains information such as customer name and address, account numbers, and details of the transaction. This information is used by law enforcement to help identify potential money laundering activities and other criminal activities.
  • A Currency Transaction Report (CTR) is a form used by financial institutions to report transactions in currency (cash, coins, and currency equivalents) to the Financial Crimes Enforcement Network (FinCEN) as required by the Bank Secrecy Act (BSA). The BSA requires financial institutions to submit CTRs for all transactions in currency of more than $10,000 in one business day. The CTR documents the customer’s identity, the date and amount of the transaction, and the type of transaction. The financial institution must also keep a copy of the CTR for five years. The CTR is an important tool for law enforcement in identifying money laundering and other criminal activities.
  • Current address fraud is a type of identity fraud that involves a person falsely representing their current residential address. This may be done in order to gain access to services, products or financial benefits they would otherwise not be entitled to. It usually involves stealing another person's identity, or using false documents to prove their residence when applying for a loan or credit card, opening a bank account, taking out a mortgage or renting a property. This can occur in multiple ways, such as providing fictitious rental agreements, leases, rental receipts or other forms of residence proof documents. It is vital for businesses and institutions to verify the identity of their customers and verify address details at regular intervals, in order to ensure the accuracy of information provided and decrease risk of this type of fraud.
  • A Custodian is a financial institution responsible for safeguarding a customer’s assets. Custodians are mainly used by hedge funds and mutual funds for the secure custody of their investments. They also protect investors from fraud, mismanagement and unethical practices. They also provide various administrative services such as record keeping, account management, portfolio management and performance monitoring. Custodians are required to register with local authorities and be monitored to assure compliance with anti-money laundering and counter-terrorist financing laws. For example, in many jurisdictions, custodians must be registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
  • Customer Due Diligence (CDD) is an anti-money laundering term that requires banks and other financial institutions to verify and document the identity of their customers. It generally involves knowing the customer’s background, obtaining the customer’s name, address, date of birth, and other identifying information to properly identify the customer. The data is then kept in a secure database for later use in screening for fraud, money laundering, tax evasion, and other criminal activities. Banks use a variety of measures including routine customer documentation reviews, customer monitoring and transaction reviews as part of the due diligence process. This helps to ensure that the bank is not in violation of regulations related to the detection and prevention of financial crime.
  • Customer Identity and Access Management (CIAM) is an integrated system of processes and technologies used to verify the digital identity of customers, block unauthorized access to secure systems and resources, and ensure compliance with security and privacy standards. It leverages identity-based authentication, authorization, and access control protocols to enable customers, partners, and other stakeholders to access appropriate digital resources. CIAM also provides an enterprise-wide view of users’ digital identity, allowing secure access to applications and data across the organization, their partners, and customers. Different authentication methods, like multi-factor authentication, are used to identity users and protect access to those sensitive applications. The protection of sensitive customer data is a top priority for organizations, and CIAM is a crucial tool in helping them achieve compliance and peace of mind.
  • Card Verification Value (CVV) is a type of code used as an additional security measure when making payments, particularly online or by phone. The code, which is typically printed on the back of a credit card or stored in the magnetic strip, is used to verify the legitimacy of a transaction. As such, it prevents someone from using stolen credit card information to make an unauthorized purchase. The code is also known as Card Verification Code, Card Security Code, Card Validation Code, or CVC. CVV codes typically consist of three to four digits and provide an extra layer of protection for consumers and merchants when conducting card-not-present transactions. For example, when purchasing items online, merchants will often require the buyer to enter the code from their card in order to verify that the cardholder is using their own card and not someone else’s.
  • The term “Cyber Ecosystem” is used to describe the complex and ever-changing environment of interconnected devices, networks, programs, and people that is the digital world. It is essential to understand the cyber ecosystem in order to protect it and to keep data safe and secure. This environment is constantly evolving, with new technologies and threats emerging every day. Cybersecurity experts must stay up-to-date on the latest technological developments in order to safeguard and protect the cyber environment from threats. They must also be knowledgeable and proactive in recognizing and tracking emerging threats. To ensure the cyber ecosystem is secure, experts must use a variety of tools and technologies, such as encryption and authentication, to strengthen security measures. By understanding the cyber ecosystem, organizations can ensure that their data, systems, and networks are safe from malicious activity.
  • Cyber fraud is the intentional act of using computerized systems to deceive victims, in order to unlawfully acquire money, sensitive information or gain access to resources. It can be perpetrated in a variety of ways, including through phishing, identity theft, malware attacks, account take overs, and unauthorized financial transactions. It is important to be aware of cyber security best practices, such as two-factor authentication and strong, unduplicated passwords in order to prevent cyber fraud. A key element of prevention is educating the public on cyber security awareness, so people can recognize suspicious activity and email phishing attempts and understand how to protect themselves online.
  • A Cyber Team is a group of specialists working together with the goal of protecting organizations’ computer systems and networks. Cyber Teams are composed of cybersecurity experts who monitor and manage cyber security threats and activities, as well as create and maintain policies and procedures designed to keep networks and data secure. Cyber Teams use a range of techniques to detect, contain, and manage potential cyber threats. This includes using firewalls, intrusion detection systems, and advanced endpoint prevention technologies. Cyber Teams also utilize threat intelligence, patch and vulnerability management solutions to keep systems secure, while monitoring internal and external networks for warning signs of malicious activity. By employing comprehensive security strategies, Cyber Teams are able to protect organizations from cyber-attacks, data breaches, and other malicious activity.
  • Cyber warfare is an attack on a computer network or an information system for the purpose of disrupting operations. It can take many forms such as disrupting the availability of vital systems, obtaining sensitive information or damaging an adversary’s networks. Cyber warfare involves the use of computer networks, digital tools, and malicious code to attack an adversary’s networks and systems. It also includes the use of deception, propaganda, and psychological tactics to exploit weaknesses and eliciting certain behaviors. It can also involve using cyber weapons to disrupt critical infrastructure or manipulate electoral results. Cyber warfare can potentially cause significant disruption to an adversary’s digital systems and critical infrastructure and in some cases can lead to strategic and critical losses.
  • A cyberattack is a deliberate exploit of a computer network, system, or online service in order to cause unauthorized access, disruption of service, data theft, and other malicious activities. Cyberattacks involve malicious actors using a variety of tools to compromise security, such as malware, ransomware, distributed denial of service (DDoS) attacks, phishing attacks, and data breaches. Cyberattacks can have a significant impact on a business or organization in terms of financial losses, reputational damage, and data privacy concerns. Cybersecurity experts are responsible for safeguarding and protecting data, networks, and systems from these threats, as well as responding to incidents and minimizing their impact.
  • Cyberbullying is the act of using digital technology, such as the internet, social media and other forms of communication, to harass, threaten or intimidate an individual or group. Cyberbullying can take various forms, such as sending malicious messages or images, using social media to spread rumors or false information, or even impersonating someone else to damage their reputation. Cyberbullying is serious and can have long-lasting detrimental effects on the victim’s emotional and mental well-being. As such, it is important to prevent, identify and respond to cyberbullying. Cybersecurity experts can advise on the use of the appropriate technology, data and processes needed to protect against cyberbullying. They can also provide best practices for how to respond to and address cyberbullying when it does occur.
  • Cybercrime is a form of illegal activity that is conducted through the use of computers and the Internet. It includes any illegal activity performed online such as hacking, identity theft, online financial fraud, cyberbullying, and the illegal distribution of copyrighted material. Cybercrime can be committed by individuals or organized criminal entities and can target individuals, organizations, and even governments. It can take place in any country and is difficult to detect, prosecute, and prevent due to its anonymous and global nature.
  • Cyberespionage is a form of espionage conducted over digital networks or through use of digital devices to gain access to sensitive information such as intellectual property, proprietary data, or confidential business information. The use of digital devices and networks to facilitate espionage is part of a growing trend of cybercrime and cyberwarfare in which hackers and nation-state actors employ techniques such as malware, phishing, and spear-phishing in order to gain access to confidential data. Cyber espionage can be used for a variety of malicious activities, including stealing valuable information for economic and political gain, disrupting operations, or disrupting national defense systems. It is important for cybersecurity experts to recognize the potential for this kind of attack by remaining vigilant and employing countermeasures such as using two-factor authentication, monitoring for suspicious activity, and implementing robust encryption methods to protect networks(...)
  • Cybersecurity is a term used to describe the practices, technologies, and processes that organizations and individuals use to protect their systems, networks and data from malicious cyber threats. These threats include viruses, malicious software, hackers, phishing attempts, and other forms of malicious attacks. Cybersecurity is a collective effort to protect networks, systems, and data from cybercrime, espionage, and other malicious activities. It involves a range of strategies and technologies, such as risk management, data encryption, secure development, user authentication, firewalls, and intrusion detection systems, in order to protect all aspects of an organization from malicious attacks. Cybersecurity is a constantly evolving field, and keeping up with the most recent technologies and trends is key to staying ahead of malicious actors in the digital age.
  • Cybersecurity Insurance is a form of insurance that provides monetary compensation for losses incurred from cyberattacks and other data breaches. It helps organizations to recover from financial losses and other damages that can occur from malicious cyber activity such as identity theft, cyber extortion, software exploitation, system intrusion, and theft of intellectual property. The purpose of Cybersecurity Insurance is to help organizations manage risk and protect their assets in the event of a cyberattack, by offering financial compensation to help cover the costs of repairing any damage caused by malicious cyber activity. Cybersecurity Insurance also helps reduce liability, providing organizations with legal support in any cyber-related disputes, such as those regarding how the attack occurred or liability for the damages caused.
  • A Cyclic Redundancy Check (CRC) is an error-detection technique used in digital networks and storage devices to detect accidental changes to raw data. It works by calculating a short, fixed-length checksum value based on the number of bits in the transmission unit; the value is then appended to the end of the unit so that the receiver can recalculate its own checksum and compare it with the value that was transmitted. If the two checksums do not match, then the receiver knows that an error has occurred. CRCs are simple but effective, and can detect most errors in a few bits, as long as the error does not exceed the number of bits used by the CRC. Though not infallible, CRCs are widely used and can provide a useful layer of data protection against transmission errors.
  • A Daemon is a type of program that runs in the background of an operating system. They are often referred to as ‘daemons’, as they are typically not user-initiated and run autonomously. Daemons can be used for a wide range of tasks, from system services to automated processes. Generally, daemons wait for a specific event or request from the operating system and then perform a task. This type of process often performs services in the background such as database transfers, network security, system logging and many more. In addition, daemons can also be used for malicious purposes, as they can act as backdoors or Trojans. As a result, it’s important for cybersecurity experts to understand the role of daemons to ensure the safety of computer systems.
  • The Dark Web is a part of the Internet that is not easily accessible or indexed by search engines. It can be used to engage in criminal activity such as buying and selling illicit goods, distributing malware, and trafficking stolen data. This type of activity is often conducted anonymously, making it difficult to trace the source of an attack. Criminals may also use the Dark Web to establish or maintain encrypted communication channels, plan illegal activities, and fund criminal enterprises. It is important to be aware of the dangers of the Dark Web, as it can be used to facilitate a wide range of criminal activities. As such, security experts recommend investing in cyber security solutions and keeping track of the latest developments to help prevent the risks of Dark Web activity.
  • Data aggregation is the process of combining data from multiple sources into a single, unified view. It involves collecting data from different sources, transforming it into a consistent format, and providing insights into how the data is associated and how it can inform decision making. Data aggregation is a powerful tool for understanding customer behavior, enabling organizations to gain insight into trends and potential correlations, and to identify actionable insights that can be used to improve customer experiences. It can also be used to flag and analyze data for security threats such as malicious actors, malicious code, and data exfiltration attempts. Data aggregation is an essential part of the modern economy and provides organizations and individuals with the ability to better understand customer behavior, optimize operations, and protect against malicious threats.
  • A data breach is a security incident in which sensitive, confidential or protected data is copied, transmitted, viewed, stolen or used by an individual unauthorized to do so. Data breaches can affect individuals’ personal identifying information, financial data, health information, trade secrets and much more. Data breaches can be caused by malicious actors, human error or software vulnerabilities. Once a data breach occurs, sensitive and private information can be exposed, leading to identity theft, credit card fraud and other malicious activities. To protect against data breaches, organizations need to employ robust security measures including encryption, authentication, data backups and regular security audits.
  • Data capture is the process of extracting data from a variety of sources for use in analytics, systems, and other technologies. It is a vital tool for digital transformation, since it allows organizations to store, collate, manage, and analyze vast amounts of data from numerous sources. Data capture can be done manually, through the use of forms and other web-based materials, or automatically via software, APIs, scanners and other automated systems. Data capture Services can also involve various types of OCR (optical character recognition) software to extract data from scanned documents or files. By processing and capturing structured or unstructured data, businesses can gain a deep understanding of their customers, operations, and markets, allowing them to make data-driven decisions.
  • Data custodians are individuals or organizations responsible for ensuring the availability and integrity of data. They are responsible for developing policies and procedures to protect data, monitor data security and access, and maintain confidentiality. Data custodians are responsible for setting up appropriate access control protocols, regular backups, secure data storage-systems, and security audits. They must also ensure that only authorized personnel have access to certain data. The custodians are also charged with the duty of determining who is allowed to access the data and for what purpose. In addition, custodians must ensure that the data is kept secure and confidential and is appropriately used, stored and transmitted. They must also ensure that any changes or modifications to the data meet the accepted standards for the organization.
  • Data Encryption is the process of converting plaintext data into unreadable ciphertext which can only be decrypted with the correct key. It is commonly used to protect sensitive data from unauthorized access and manipulation and is an essential part of Cybersecurity. In symmetric encryption, the same key is used to encrypt and decrypt the data, whereas in asymmetric encryption, two different keys are used. Hashing is another form of encryption where a message’s integrity can be ascertained without knowing the contents of the message. Generally, the stronger the encryption the longer it will take to decrypt. As the need for secure data transmissions and storage increases, encryption becomes increasingly important in protecting data.
  • Data Encryption Standard (DES) is a symmetric encryption algorithm that uses a 56-bit key. This algorithm was developed by IBM in the 1970s and has been the most widely used encryption standard for over 20 years. DES takes a plaintext message and a key, and uses the key to rearrange the information in the message in an unpredictable way, rendering it unreadable. The encrypted message can only be decrypted by having the same key used for encryption. DES is considered a strong encryption algorithm as it has withstood numerous attempts to crack it. Due to its strength and due to its wide acceptance, DES is often used in a variety of applications, from secure communication between two parties to authentication of users and devices on a network.
  • Data Enrichment is the process of adding additional information of data fields with the aim of improving the value, accuracy and relevance of consumer data. It includes the automation of running logic-based algorithms, incorporating external sources of data, and validating data against reference datasets. This provides organizations with valuable insights into consumer behavior, allowing them to focus on the right market segments and to better detect fraud and manage risk. Data enrichment can help identify potentially fraudulent activity by looking for patterns and relationships between different elements of consumer data. It can also provide high-level demographic insights that can be leveraged to better target products and services. By capturing personal data in all its richness, data enrichment more accurately reflects today's consumer needs.
  • Data Loss Prevention (DLP) is a cybersecurity strategy that helps prevent accidental or intentional unauthorized access, use, disclosure, modification, or destruction of data. It includes preventive measures such as encryption, access control, backup and recovery, and audit as well as additional proactive measures such as data classification, data masking, and data leakage detection. DLP is designed to protect data from unauthorized users, whether internal or external, malicious or non-malicious. Its purpose is to identify and prevent any loss or breach of confidential or regulated data. DLP systems typically analyze data, identify sensitive data, and can control and monitor access to the data. DLP solutions are deployed in various environments, such as on-premise or cloud-based or endpoint systems, or can be managed from the cloud, making them powerful and flexible options when it comes to data security.
  • Data masking is a security measure used to protect sensitive information by replacing precise data with fictitious data that looks very similar to the original. Data masking is used to protect personal and financial information stored in databases, such as Social Security numbers, bank accounts, and credit card numbers. Data masking prevents malicious actors from stealing or manipulating sensitive data. Data masking can be accomplished through techniques such as encryption, shuffling, and tokenization. Data masking is a process that can be applied to both structured and unstructured data. It can also be configured to remain reversible to ensure access for legitimate purposes. Data masking is a valuable tool for organizations to maintain the security of their data and prevent data breaches.
  • Data Mining is the process of extracting information from large sets of data. It involves the use of algorithms and statistical techniques to uncover hidden patterns, relations and correlations within data. Data Mining enables businesses to make data-driven decisions and improve their operations. Data mining can help identify fraudulent activities and detect vulnerabilities in an organization's IT system. It can also be used to monitor customer behavior, detect patterns that indicate suspicious activity, and take appropriate action. It is an important tool for helping organizations develop more secure and effective fraud prevention strategies.
  • Data ownership is the concept of a person or business having complete control and responsibility for data, as well as its associated rights. Data owners are responsible for the integrity, accuracy, and security of the data, including safeguarding it from unauthorized use and access. Data owners define the terms of access and use for their data, and determine how it can be used to provide value to their organizations. They also oversee data policies, procedures, and standards to ensure data security and compliance. Data owners dictate the level of access that users have to the data, how data is collected, processed, stored, and disposed of, and how it is used for analytics and other purposes. Data owners play an important role in protecting the privacy of data and ensuring its accuracy and reliability.
  • Data points refer to a collection of pieces of information about a particular subject, such as a customer or transaction. This data can then be used to define and analyze the characteristics of the subject or to determine if the subject is placed in a risky group or population. Data points range from basic demographic information such as name, date of birth, address, to more detailed information such as purchase history and transaction histories. Data points can be used to identify suspicious activity and can be used for fraud prevention and detection. Data points can be linked together to identify patterns of fraudulent activity, enabling organizations to better monitor and protect their customers from such threats.
  • Data Protection Act (DPA) is a piece of legislation that applies in the United Kingdom. It regulates how organizations must handle and collect data about individuals. It gives individuals certain rights with regards to their data, such as the right to access the information an organization holds about them, and the right to have inaccurate data corrected. Organizations must be transparent about the information they collect and how it will be used. They must also keep data secure, and implement processes to protect it from unauthorized access, alteration, and destruction. It’s important for organizations to comply with DPA to protect individuals’ data and maintain trust in their operations.
  • Data Provider is a company, organization or institution that provides third party data to another company or organization. These providers may include public records databases, directory services, credit or identity bureaus, social media platforms, document deposit services, digital banks, private databases, or any other party that supplies data of a confidential and sensitive nature. Data Providers provide access to sensitive data that buyers can use for authentication, identity confirmation, financial investigation, fraud prevention and more. Data Providers are heavily regulated and are expected to comply with data privacy legislation and standards for data security. They also maintain service contracts with clients to ensure protection of confidential information, and to better secure the exchange of data. All Data Providers must adhere to the latest cyber security technologies and industry best practices to ensure the safety of the data of their customers.
  • Data Science is an interdisciplinary field of study focused on combining methods from mathematics, computer science and other areas of science to enable the analysis of large amounts of data. It involves using predictive analytics to make decisions for businesses or organizations based on data-driven models. Data Science requires the use of Artificial Intelligence (AI), Machine Learning (ML) and other advanced analytics techniques to generate insights from available data. Data Science can be used for a variety of purposes such as predicting customer behavior, fraud prevention, cyber security, and many other applications. Data Science is essential for staying ahead of the game in today's digital world.
  • Data Security Standard is a set of industry best practices designed to ensure the security, privacy, and integrity of confidential and sensitive information. Data Security Standards are often organized by organizations, groups, and associations in order to provide a framework of guidance and control for organizations to adequately protect their data from compromise. This includes information such as Personally Identifiable Information (PII), credit card information, trade secrets, and intellectual property. Data Security Standards include procedures for user authentication, encryption and access control, logging activities, configuring systems to minimize risks, physical security, and patching and hardening systems against malware. Furthermore, Data Security Standards help organizations to comply with data protection laws and regulations such as The Health Insurance Portability and Accountability Act (HIPAA), or the General Data Protection Regulation (GDPR). In essence, Data(...)
  • A data server is a computer hardware component which is used to store, search, and manage digital data. It serves as a repository for data, including websites, documents, images, multimedia, and other forms of information. Data servers are used to ensure the integrity and security of data. They often use encryption technology to protect data and protect against unauthorized access. It also enforces access rules and security measures such as user authentication and access control. A data server can be hosted on a physical or virtual machine, depending on the needs of the business or organization.
  • A Data Set is a collection of data that has been structured or organized in such a way that it can be used to answer a question or solve a problem. It can include any type of data, such as a list of names, dates, prices, addresses, or numerical values. Data Sets allow analysts to make predictions and identify trends by providing a quantitative description of a collection of data. They can be used to identify relationships between different variables, and can provide useful insight into complex processes. In the field of fraud prevention and cyber security, Data Sets can be used to create detailed profiles of potential fraudulent activity in order to design effective strategies against attackers. Data Sets can be used for various applications such as Machine Learning, data mining, predictive analytics, and more.
  • Data theft is a form of cybercrime in which criminals gain access to valuable digital information, often for financial gain. This information can include personal data, such as credit card or banking information. It can also include sensitive corporate information, such as customer databases or proprietary trade secrets. Data theft can take many forms, including malicious software attacks, phishing or social engineering campaigns, or physical theft or manipulation of data storage devices. As a cyber security expert, it is important to take measures to protect against data theft, including system patching, access control, intrusion detection and prevention, and encryption. Additionally, organizations must remain vigilant and have appropriate incident response plans in place to quickly detect and respond to data theft.
  • Data Warehousing is the process of storing and organizing data extracted from various sources into a single, unified repository. It is used to improve operational reporting and data analytics, to better understand customer activity, to identify trends, to improve decision-making, and to increase operational efficiency. Data Warehousing is a component of a larger data management process that includes data cleansing, data integration, and data analysis. Data warehouses are typically organized by subject area, such as finance, customer data, or sales, and are designed to integrate different sources of data.
  • The term "Day of the Jackal" fraud refers to a type of fraud where an attacker obtains access to another person's system and then uses that access to access confidential information, impersonate the person or commit other fraudulent activities. The attack is done during a period of time when the system can be accessed and information obtained or modified without detection or interruption. The attack is referred to as a "Jackal" attack because of the sneakiness and stealth with which the perpetrator carries out the attack - like the titular character in Fredrick Forsyth's novel, The Day of the Jackal. Day of the Jackal fraud is a serious issue and prevention strategies should be implemented in order to reduce the likelihood of such attacks.
  • A day zero attack is a type of cyber attack that takes advantage of software vulnerabilities that are unknown to the vendor and users. This attack can occur when malware is released before security patches are available, giving attackers the window of opportunity they need to exploit the vulnerability of the system. This type of attack is particularly dangerous because it can be launched remotely and in many cases, the victims are unaware of the attack until it is too late. The motivation behind day zero attacks varies, and can range from financial gain to political or data theft. In most cases, this type of attack can lead to a range of outcomes, from temporary access to an organization’s system to total system compromise. As such, it is important for organizations to take a proactive approach to cybersecurity and remain vigilant in order to protect themselves from day zero attacks.
  • A Distributed Denial of Service (DDoS) attack is a type of cyber attack that attempts to disrupt the normal functioning of a network by flooding it with requests from multiple sources. It is a form of cyber attack that disrupts the availability of a website, application, or service, by flooding it with a large volume of malicious requests. DDoS attacks are usually launched by multiple computers or devices, known as bots, that simultaneously send requests to the target system, overloading its resources and making it inaccessible. The goal of a DDoS attack is to overwhelm the target system with a large amount of traffic that it cannot handle, preventing legitimate users from accessing the system or service. The most common types of DDoS attacks target web applications, web hosting services and web servers.
  • A debit card is a type of payment card used to make purchases and pay for services online, in-stores and over the telephone. It is linked directly to a bank account and typically allows for the user to access their funds quickly, conveniently and safely. The debit card is different from a credit card in that it does not extend the user a line of credit and does not allow for the user to carry a balance from month-to-month. Instead, the user is only able to spend money within their bank account balance. When making purchases, the user can input the debit card into a terminal reader or type in their information on a website - allowing them to make payments in a convenient and secure manner. Additionally, debit cards come with multiple layers of fraud prevention and cyber security protection, such as PINs and Verified by Visa, to help protect the user from fraud and identify theft.
  • Debit Card Fraud, which occurs when a hacker or criminal gains unauthorized access to an individual’s debit card details, is one of the most serious security threats that organizations face today. When this information is compromised, the hacker can spend or transfer funds anonymously, as well as make purchases without the owner’s permission. In some cases, they can withdraw large amounts of money from the account or even open new accounts using the stolen information. In order to protect against such threats, organizations must have measures in place to detect and prevent fraud. These include monitoring transactions for suspicious activity, implementing strong authentication methods, and ensuring the security of the network and IT infrastructure.
  • Decryption is the process of converting encrypted data back into its original, unencrypted form. It is the exact opposite of encryption and is used to secure transmitted data. Decryption uses an algorithm and a key that have been pre-arranged between the sender and the receiver. The sender encodes the data using the algorithm and the key, and the receiver can then decode the data using the same key. Decryption is critical for ensuring that data does not fall into the wrong hands, as encrypted data is much more difficult to decipher without the original key. It is important for organizations to use strong encryption algorithms and keys to protect their data, as insecure encryption can be easily broken and make their data vulnerable to cyber-attacks.
  • Deep Fakes are a technology that relies on Artificial Intelligence (AI) to create false images, audio recordings and video recordings of individuals. The deep fake technology utilizes tools such as generative adversarial networks (GANs) to take data of a person's existing face and voice, and to transform it into a synthetic version that is indistinguishable from the real thing. By replicating the methods until a certain level of accuracy is achieved, deep fakes can be created with the same quality as real-life footage. Deep fakes are being increasingly used to spread fake news and spread malicious intent. It is now easier than ever to manipulate audio and video in a fraction of a second, making it difficult for the average person to verify the accuracy of what they see and hear. This presents a major risk for both fraud prevention and cyber security.
  • Deep Learning is a type of artificial intelligence which allows computer systems to learn through trial and error through training, without needing to be explicitly programmed. It uses artificial neural networks, which are based largely on the human brain and its network system. It offers a way for systems to process complex data and identify patterns and correlations, potentially leading to more accurate predictions and predictions faster than traditional models. Deep Learning offers automated solutions for fraud prevention, cyber security and other data security applications.
  • The Deep Web is a vast area of the Internet which is not indexed by search engines, meaning it can’t be found by common means. It is sometimes referred to as an ‘invisible web’ as it requires special tools and techniques to access it. It is home to an array of information ranging from illicit activities such as drugs and weapon sales, to perfectly legal practices such as underground markets and secure corporate networks. The deep web is a booming area and can be used for good or ill depending on the user, and this makes it a particular area of interest for fraud prevention, cyber security and intelligence gathering. It is possible for skilled individuals to trace the origins of deep web activity and this provides insight into some of the more serious crimes committed online.
  • Defacement is a type of cyberattack on websites, in which a hacker or malicious group modifies the content of the website to include malicious code, disrupt its appearance, or display a different message. It is done primarily to damage the website's reputation, harm the owners, and demonstrate the hacker's skills. Usually, the source code of the page is changed, images are replaced with the hackers' material, or messages are displayed. It is sometimes referred to as “website vandalism” because of the damage it can cause. Defacement is particularly dangerous because it can damage a website’s reputation and lead to thwarted transactions, hijacked accounts, and the disclosure of confidential information.
  • A Demilitarized Zone (DMZ) is a secure, isolated network that separates an organization's internal network from the public internet. It provides an additional layer of security to protect the organization's internal resources from outside threats. It is important for an organization's security because it allows for the internal network to remain protected and hidden from the public view. Additionally, it can help to prevent attacks from the public internet to the internal network by providing a buffer zone that can absorb malicious traffic and alert the owners of the network to any potentially malicious activity. Lastly, it can also provide an area for hosting public services like web servers, without exposing the internal network to a direct connection from the public.
  • A Denial of Service Attack (DDoS) is an attack in which a malicious actor attempts to overwhelm a target system by flooding it with malicious requests simultaneously, with the intention of making the system unavailable for legitimate access. These attacks are often launched from computer networks of compromised or hacked machines, and are difficult to detect and even more difficult to stop. They can prevent users from accessing webpages, email access, online applications and more, making them a dangerous and disruptive attack form. DDoS attacks can also be used as distractions and can lead to more serious cyber attacks such as identity theft and data breaches. In short, DDoS attacks are a serious threat to digital security and networks, and precautionary measures must be taken to protect against and mitigate their impacts.
  • Denial of Service (DOS) is a type of cyber-attack carried out primarily to prevent legitimate users from accessing a resource or service. It works by flooding the targeted system with large numbers of requests or data packets, overloading the resource or service and making it unavailable to the intended users. Common targets of DOS attacks include websites, online services, online gaming servers, and other online tools and services, as well as entire networks. The goal of DOS attacks is to overwhelm these systems until they are no longer able to function and, in some cases, cause permanent damage. Other types of DOS attacks include traffic-flooding and flooding patterns, which use specific techniques like UDP floods, ICMP floods, and SYN floods to paralyze services or networks.
  • The Denied Persons List (DPL) is a list published by the United States Department of Commerce, Bureau of Industry and Security (BIS). The list identifies individuals and entities that have been denied export privileges, which means they are prohibited from participating in any export transaction subject to the Export Administration Regulations (EAR). The DPL is used by U.S. exporters to determine whether a particular party is prohibited from receiving U.S. origin goods, technology or services. The list includes entities and individuals that have been denied the privilege of exporting or receiving goods, services, or technology from the United States due to various sanctions, embargoes, or trade restrictions. The DPL also includes entities that have engaged in money laundering, terrorist activities, or other activities that threaten the national security or foreign policy of the United States.
  • Derived identification is a method used in fraud prevention and cybersecurity to help verify a person's identity. It uses techniques to extract information from one system, then use that data to create a unique identifier for the same individual in other systems. This technique can be used to improve individual authentication, track digital events, or monitor user access. An example of derived identification is taking the customer's name and address from an ecommerce system and entering them into a financial system, creating a unique ID for the customer that stands out from all the other applicants. This ID can be used to trace the customer's activity across different systems while helping to mitigate fraud risk.
  • Designated Categories of Offense refer to certain offenses that are identified as money laundering activities. These activities involve the use of funds generated from illegal activities in order to move, conceal, or disguise their source. Examples of Designated Categories of Offense include terrorism financing, drug trafficking, tax evasion, insider trading, fraud, and bribery. Money launderers often use financial institutions and different payment methods (cash, bank transfers, etc.) to carry out these activities, and it is the responsibility of Anti-Money Laundering Experts to identify and prevent such activity.
  • Designated Non-Financial Businesses and Professions (DNFBP) are entities which are deemed to be at increased risk of being used for money laundering or financing of terrorism. These entities are mostly regulated by laws and regulations, and they include lawyers, accountants, real estate agents, casinos, trust and company service providers, and dealers in high-value goods such as art, cars, and jewellery. They are required to maintain customer due diligence measures to identify and verify customers' identities, keep records of their activities and transactions, and report suspicious activities. Through these measures, DNFBPs help to prevent money laundering and terrorist financing.
  • Device cloning is a type of cyber attack in which an attacker creates an exact copy of a legitimate user’s device. By cloning the device, the attacker is able to spoof the identity of the legitimate user and access confidential data or perform malicious activities within the user’s account or network. It is a form of identity theft, as the attacker can assume the user’s identity and access their resources. Cloning is typically done through a process of reverse engineering, in which the attacker gathers information from a legitimate device and then creates a new device with the same information. Cloning is also a popular method of malware delivery, with attackers sending out malicious code which they have put in the cloned devices. To mitigate the risks associated with device cloning, organizations should make sure their devices are secure and regularly patched, and can also limit user access to specific services or data.
  • Device Emulator is an emulation program that allows users to test and run software in a simulated computer environment. It is typically used in order to test software applications under different hardware configurations to ensure compatibility and correct functioning. It allows virtual hardware connections to interact with the actual piece of hardware so that the system can read and respond to commands as though it was processing code on the actual hardware. With a device emulator, developers and testers can uncover any potential issues that may arise with the software running in different hardware configurations, allowing them to fix any problems before release. It also serves as a tool for fraud prevention, as it can be used to identify and shut down any malicious attempts to access a computer system.
  • Device fingerprinting is a process used in fraud prevention and cyber security to identify and track users. By collecting information about a device such as the operating system, browser version, and plugins, device fingerprinting allows businesses to create a unique identifier based on the device used to access sensitive information. This technique helps businesses to recognize potential fraudulent activity on their systems and protect their user data by pinpointing the source of any suspicious requests or connections. A device’s fingerprint is made up of over fifty indicators, and because the combination is usually one-of-a-kind, it can be used to identify users’ devices even after a short time period. Device fingerprinting allows businesses to be proactive in identifying and preventing fraudulent activities on their networks.
  • Device ID is a unique identifier of a machine or device that can be used for various fraud prevention and cyber security purposes. It helps uniquely identify the source of connections and determine the origin of activities made from a device. It can help identify patterns of malicious behavior from particular devices and detect fraudulent activities such as account take-overs or identity theft. Device ID can help confirm a user’s identity and protect your services by validating that a request is coming from an authenticated device. It is also useful for marketers and IT administrators to keep track of device usage and user activity. For example, administrators can obtain device-specific information such as IP address, zone information, device type, device OS, and apps installed on a device. Device Identification is an important tool to keep your customers safe and secure online.
  • Device Intelligence is a form of Artificial Intelligence that allows organizations to analyze and detect anomalies and breaches in their networks. It uses various methods to analyze the activities of mobile and desktop devices and identify any suspicious activities. It can track device behavior, detect patterns of malicious activities, and alert network administrators. Structured data analysis and device fingerprinting is also used to identify anomalies and alert IT personnel. Device Intelligence solutions can also provide actionable insights and remediation measures to help organizations easily resolve issues and reduce their attack surface. With Device Intelligence, data can be analyzed in real time to identify the source and nature of threats, while allowing organizations to proactively strengthen their cyber security posture.
  • A dictionary attack is a type of cyberattack that uses a targeted attack string of words, phrases, and characters taken from a dictionary to guess a password in an automated brute force fashion. The attack requires a dictionary that contains common words, phrases, and characters which are used to generate combinations of possible passwords. These combinations are then tested against the target password to find a match. In most cases, the attack targets a specific authentication system, such as a login prompt or a website, and attempts to guess the correct password or username.
  • The Diffie-Hellman key exchange is a cryptographic protocol used for establishing a secure, shared secret between two communication parties. This secret is used for encrypting and decrypting messages between the two parties. The protocol can be used in both symmetric-key and public-key cryptography.At its most basic, Diffie-Hellman relies on two parties exchanging public numbers to produce a private, shared key. The public numbers are generated from a combination of a prime number and an associated generator that is shared by both parties. This shared key is then used to scramble and un-scramble messages sent back and forth.The strength of the Diffie-Hellman key exchange lies in the difficulty in calculating the shared key without knowledge of the prime number and generator used to generate the public numbers. This makes it more difficult for a third-party to discover the private shared key, giving better security and privacy between the two communication parties.
  • Digest Authentication is a secure authentication protocol designed to provide a secure means of authenticating users to a system or network. The authentication protocol functions by using a cryptographic hash function to create a hash, or "message digest," of the user's credentials. This message digest is then sent along with the user's credentials to the server for authentication. The server then compares the message digest to the expected message digest and, if the message digests match, the user is authenticated. An important feature of Digest Authentication is that passwords are not transmitted in cleartext, which provides additional security and privacy protections. Additionally, Digest Authentication is resistant to replay attacks and is generally considered one of the most secure authentication protocols available.
  • A digital certificate is an electronic document used to verify the identity of an individual, organization or computer in a digital space. It binds the public key of a user to their corresponding private key, and is digitally signed by a Certification Authority (CA) that verifies the validity of the certificate. A digital certificate is used to verify the identity of a user during online transactions and digitally sign files, emails and documents to guarantee the validity and authenticity of the signature. The digital certificate also ensures that confidential files are encrypted to make sure that the contents are only accessible by the intended recipient. A digital certificate also provides an added layer of security by enabling the establishment of non-repudiation, meaning that a user cannot deny an action that they took.
  • Digital envelopes are a form of data encryption used to protect data in transit. It involves the use of two distinct codes. The first code is known as a public key, which is securely shared with the recipient of an electronic document. The second code is known as a private key, which is only known to the sender. When a document is sent, it is encrypted with the sender's private key so that only the recipient with the corresponding public key can decrypt it. This ensures that the document is securely encrypted and can only be opened by the intended recipient. Digital envelopes are used to ensure the privacy and security of sensitive data.
  • Digital Forensics is the analysis of digital evidence to identify, interpret and reconstruct digital events for the purpose of creating a chain of events for criminal or civil court proceedings. Digital forensics is the process of detection, investigation and analysis of digital data in order to uncover evidence from digital sources. It involves analyzing multiple sources of digital information such as hardware, software, networks and cloud services. The goal of digital forensics is to collect and preserve digital evidence in a safe and secure environment, while keeping the integrity of the evidence intact. Digital forensics professionals typically use a variety of methods and tools to analyze digital data, including specialized hardware and software, to accurately interpret evidence and draw conclusions. Digital forensics is used to investigate computer-related crimes such as fraud, theft, vandalism, and identity theft.
  • Digital identity, also known as digital persona, describes the digital representation of an individual's identity. It includes private information such as name, address, social security number, and other personal details such as biometrics, third-party verified qualifications and customer loyalty data. It is used in various online activities such as social media, online banking and e-commerce. It is used to validate a person's identity, but also to prove that the user is authorized to access the application or system. Security measures such as passwords, security questions, two-factor authentication and encryption are used to protect digital identity. Digital identity is becoming increasingly important for both businesses and individuals as it is used all around the world to verify identity and maintain privacy in the digital world.
  • A digital signature is an electronic form of a signature that can be used to authenticate the identity of the sender of a message or the signer of a document, and also ensure that the original content of the message or document that has been sent is unchanged. A digital signature is created using a combination of cryptographic and private key algorithms, as well as a cryptographic hash to both sign and verify documents. A digital signature is a valuable component of data security and authentication processes and provides stronger authentication than a handwritten signature. It also provides non-repudiation, meaning that the signer of a document cannot later deny the authenticity of the signature. Digital signatures enable secure transmission of documents over the internet, while providing increased trust, auditing, traceability, and completeness.
  • Digital Signature Algorithm (DSA) is an algorithm developed by the US National Security Agency (NSA) for digitally signing digital documents. It is based on public-key cryptography, and it was designed to provide a digital signature to guarantee the authenticity and integrity of data. The algorithm involves the generation of two different keys, a private key that is shared between the sender and the receiver and a public key that is shared with the public. The private key is used to sign the document and the public key is used to verify the signature. DSA is used for authentication, verifying identities, and validating the authenticity of digital signatures. The algorithm also provides a means of protection from data alteration attacks and can prevent malicious code from being injected into digital documents.
  • Digital Signature Standard (DSS) is a security protocol used to authenticate digital information, often used in combination with public key cryptography. It is used to create a digital signature which allows a recipient to verify the authenticity of the sender. The standard was developed by the National Institute of Standards and Technology (NIST) and provides a framework of requirements for digital signature services with security, integrity and non-repudiation of messages. It is designed to prevent unauthorized users from tampering with the message by requiring that the digital signature be signed with a valid key, which is generated and stored in a secure manner. DSS also provides assurance that the message was sent from the claimed sender, as it requires that the sender possess the appropriate key to create the digital signature.
  • Digital Transformation is an approach to digitally optimize and enhance current and existing systems and processes. It involves leveraging technology to implement changes that can improve efficiency and profitability, as well as enable a company to better meet customer and market needs. This includes automating tedious tasks, modernizing infrastructure, incorporating the use of analytics and artificial intelligence, and utilizing data and analytics to improve decision-making processes. Digital Transformation can provide organizations with new opportunities, including the ability to explore new business models and customer engagement options, increase operational and organizational efficiency, and develop innovative services and products. It also enables organizations to become more agile in responding to customer needs, market trends, and the ever-changing landscape of the digital economy.
  • A digital wallet is an online tool that stores your confidential information in a secure online space. It typically enables you to store your financial details, passwords, and other private information in one place, allowing you to make online transactions without having to enter information every time. Digital wallets are commonly used for online shopping, banking, and other services. It also helps protect your information from fraud and theft, as its encryption technology makes it difficult for hackers to access your personal data. Digital wallets also typically offer features such as card linking and multiple device authentication, which allow you to securely access and make payments from your accounts while on the go.
  • Dilution of Sanctioned Ownership is a process used to disguise the true ownership of a company or asset. It is used to hide the identity of an individual or company that has been flagged as a restricted party, or sanctioned by a government or international body. This process involves the restructuring of the ownership or control of the entity, with the ultimate goal of obscuring the ultimate beneficial owner. This could involve transferring ownership to a trust, a shell company, or a third-party. The process allows the sanctioned individual or entity to continue to benefit from the asset or company without the risk of seizure or other legal ramifications.
  • Disassembly is a method of reverse engineering in which a computer program is deconstructed into assembly language instructions in order for its code and functions to be examined and reengineered. This process can be used to track malicious code and software vulnerabilities, helping to secure computer networks and systems. Disassembly is a complicated process and requires a specialized set of skills, as it requires a great deal of investigation into a program’s structure and design. It is important to ensure that any updates or changes made during the disassembly process do not introduce any further security vulnerabilities.
  • A Disaster Recovery Plan (DRP) is a strategic document designed to ensure the continuity of business operations in the event of a major disaster or emergency. The plan outlines a set of procedures and processes to be followed in the event of a disaster, such as severe weather, theft, cyber-attack, or a natural disaster. DRP's typically include processes and procedures for restoring lost data and systems, bringing back normal operations and business processes, and ensuring the safety of personnel and resources. The plan should also include processes to quickly and efficiently restore key personnel, communications, networks, and infrastructure. A DRP is designed to minimize downtime, minimize the impact of a disaster on the business, and keep operations running as seamlessly and quickly as possible.
  • Discretionary Access Control (DAC) is a type of access control in which a user has full control over who can access certain data or resources. The user has the power to grant or deny access to certain users or groups. It is a type of access control which allows an owner to decide who can access their data or resources. This method works on the “Principle of Least Privilege” which means that a user should be given the least amount of access needed for doing their job. DAC establishes a relationship between users, objects, and permissions to ensure that users have appropriate access to resources. DAC can also be used as a countermeasure to data breaches and help protect an organization from cyber attacks.
  • Distributed Denial of Service (DDoS) is a type of cyber attack which attempts to make a service or network unavailable by flooding it with malicious requests. This kind of attack is usually launched from multiple sources that are distributed in various locations around the world. The malicious requests are sent from computers that have been previously compromised and are known as bots. The intention of such an attack is to overwhelm the network or server with requests, thus preventing legitimate requests from being processed, resulting in denial of service for the server. DDoS attacks have the potential to cause serious damage to a business or website, as it leaves it with no means of providing its services to customers.
  • Data Loss Prevention (DLP) is a process used to protect data from accidental or intentional harm. It is a set of tools and processes that detect, prevent, and mitigate the loss of sensitive data from organizations. DLP can be implemented as hardware, software, or a combination of both. It is capable of identifying, monitoring, and protecting data through various methods such as encryption, data masking, content-filtering, and user authentication. DLP solutions may also include monitoring systems, which log any policy violations or unauthorized access. This allows administrators to identify potential threats and to take appropriate action to protect data. Ultimately, DLP is an important security tool to ensure the safety of valuable organization data from external and internal threats.
  • A DMZ (Demilitarized Zone) is a secure physical or logical subnetwork that contains a restricted set of resources and contains both public and private services and data. It serves as a protective barrier between internal networks and the internet, isolating any malicious traffic or attacks that originate from the internet. In a typical network architecture, DMZs are used to increase the overall security of the network by separating the public and private networks, as well as other layers of security such as firewalls. Any data that moves through a DMZ is monitored and filtered to protect the internal network and any sensitive data that may be stored within it. By creating a separation between the internal and external networks, DMZs are a crucial element of modern Cybersecurity and they are highly recommended when deploying a secure network.
  • DNS Tunnelling is a technique used by cyber attackers to bypass security measures, such as firewalls, by sending malicious data within Domain Name System (DNS) traffic. By manipulating DNS information, attackers can exfiltrate data from networks while appearing to be legitimate DNS requests and responses. This technique is particularly dangerous, as it enables hackers to bypass standard security controls, including intrusion detection and prevention systems. Furthermore, DNS Tunnelling can be used to create malicious command and control channels to maintain control of a compromised device, allowing hackers to perform various malicious activities, such as data exfiltration, malware distribution, and lateral movement.
  • Dollar Clearing is a financial transaction service provided by banks and other financial institutions which allows users to electronically move funds from one bank account to another, usually in a different country. It is typically used to move large sums of money quickly and efficiently without going through the process of international wire transfers. This process is highly regulated and subject to many anti-money laundering controls in order to ensure that funds are transferred in a transparent manner and are not used for illicit activities.
  • Domain hijacking is an attack by which malicious actors take control of a Domain Name System (DNS) registrar account and use its privileges to tamper with the records of an internet domain. By manipulating DNS records, the attacker can redirect traffic away from the legitimate site, or to a malicious site, to steal user information or completely disrupt the function of the service. Domain hijacking attempts can also be used to launch distributed denial of service attacks, as well as to gain access to the inner workings of the domain and its associated services. Domain hijacking can be especially damaging, as it can lead to loss of data and reputation for the affected website, and can be very difficult to detect and recover from.
  • A domain name is a unique name that identifies a website on the Internet. It is composed of two components: the top-level domain (TLD), such as .com, .org, .net, and the second-level domain (SLD), which is the actual name of the website, such as google or example. Domain name systems (DNS) are used to translate domain names into numerical IP addresses, allowing computers to access websites. Domain names have become an essential part of everyday life and are increasingly used for cyber security purposes such as identifying malicious websites and email addresses. Security professionals must be aware of how the domain name system works in order to effectively defend their organizations' networks against cyber threats.
  • The Domain Name Server (DNS) is a fundamental component of the internet. It is an efficient method used to translate human-readable domain names into their corresponding IP addresses, allowing users to access webpages, emails and other applications electronically. DNS is composed of three primary components, a database, an algorithm and a network of servers. The database contains records of the corresponding IP addresses to domain names, the algorithm is used to quickly determine what domain name relates to an IP address, and the network of servers is responsible for making sure DNS traffic is routed quickly and securely. DNS is critical for the continued operation of the internet, and is fundamental for information to be located, exchanged, and secured.
  • The Domain Name System (DNS) is an essential part of the internet. It is a distributed database system that translates human-readable domain names, such as “example.com” into computer-readable IP addresses, such as “192.168.1.1”. It is a hierarchical system that is responsible for managing the names of networks and the associated IP addresses. It consists of name servers which answer queries and contacts other name servers to find out the address associated with a particular domain name. DNS is vital in allowing different networks to find each other and communicate with one another. It is also responsible for allowing the same domain name to be used world-wide. Thus, it is critical to the security and function of the internet, making the DNS a valuable target for malicious actors.
  • Domestic Transfer Pricing is the process of setting prices for goods or services traded between related entities in the same national jurisdiction. It is the allocation of profits among different branches of a company, or between related companies, within the same country. It is important that these prices be set in a fair manner, as they will impact the overall taxation of the company. The pricing must also be in compliance with domestic laws, as well as any applicable international laws, such as the OECD Transfer Pricing Guidelines. As an Anti-Money Laundering Expert, I must ensure that Domestic Transfer Pricing is not being used to facilitate money laundering activities.
  • Door to Door Magazine Sales Fraud is a type of fraud that can occur when someone goes door to door asking for payment for a subscription to a magazine. Generally, the scammer claims that all or part of the money goes to a charity or will help a less fortunate person, and often victims are persuaded to buy a subscription without actually being informed about the subscription. The magazine subscription is usually never received, and it is often difficult to locate the culprits who partake in this fraud. Door to Door Magazine Sales Fraud typically consists of scams that are perpetuated by deceptive individuals who are not affiliated with any charity or organization. Victims of this fraud typically suffer financial and psychological losses.
  • A doorway domain is a malicious website created by cyber criminals as part of a fraudulent online campaign. The site looks legitimate and often contains content related to popular topics and topics of interests. It is used to drive unsuspecting victims to other malicious websites created by the same criminals. Doorway domains are often temporary and are used to redirect web traffic away from legitimate sites and to malicious sites that will try to extract personal data or infect visitors' computers with malware. They can also be used to direct users to phishing sites or to a malicious page on a compromised or legitimate website. Doorway domains are usually well-constructed and can be difficult to detect. They usually rely on SEO methods to rank higher and gain illegitimate traffic.
  • A drive-by download attack is a type of security exploit in which a user unknowingly downloads malicious software when visiting a website or clicking a malicious link. Exploiting unpatched or unknown software vulnerabilities, the malicious software can gain access to user data and the user’s device, often without the user’s knowledge. This type of attack is commonly executed when users click on a link that takes them to a malicious website, often with embedded malicious code. The malicious code can then be used to download and install malware onto the user’s device, undetected by the user. Drive-by download attacks can also occur when a user downloads unsafe content, such as files on a peer-to-peer network, or if their device is infected with malicious code from an existing infection.
  • A drop address is a phrase used in cyber security and fraud prevention that refers to a decoy address used to cover up a fraudulent act. This address is used to collect stolen funds, purchased items, or other resources acquired through illegal activity. The criminal will use this address to remain anonymous and make it difficult for law enforcement to trace the action back to them. Typically, the drop address is set up by a “money mule” or another type of criminal intermediary. The drop address acts as a temporary holding space for the illegal resources before they are redirected to a safe place. This type of address is used to cover the perpetrator’s tracks, and make it more difficult for investigators and victim organizations to identify them.
  • Dual control is a system of internal control in which two or more people are required to complete a task. The purpose of dual control is to reduce the risk of failure or abuse of power by having two people independently verify all financial transactions and activities. Dual control ensures that all financial transactions are independently checked and approved by two authorized individuals. This process helps ensure accuracy and accountability in financial dealings and helps to protect a company from fraud and money laundering. Through the use of dual control, businesses can gain the confidence of their customers and maintain compliance with relevant regulations.
  • Dual-use goods are products that have both a commercial and a military purpose. This term refers to products that can be used for both benign and nefarious applications. In the context of Anti-Money Laundering, dual-use goods can be used to hide, transfer, or obscure the true origin of illicit funds. These goods are often difficult to track, making them attractive to money launderers. Examples of dual-use goods include computer hardware, computer software, chemicals, and telecommunications equipment. In order to combat the use of dual-use goods for money laundering, governments have instituted laws and regulations to ensure that these goods are not used illegally and that those who purchase them are properly vetted.
  • Due diligence is the process of performing a thorough review of financial records and other documents to ensure that a company is in compliance with applicable laws and regulations. It is a detailed review of a business’ activities, taking into account legal, financial, and operational risk. In the context of anti-money laundering, due diligence is the process of assessing a customer’s background, risk profile and source of funds to ensure that the customer is not attempting to use the company to commit financial crimes. This process involves collecting information on the customer, verifying their identity, understanding the nature of their business and assessing the risk associated with the customer. It is important for companies to periodically perform due diligence to ensure that they are not involved in money laundering or other financial crimes.
  • DumpSec is a security analysis tool used in the field of Cybersecurity. The tool is used to extract security information from Windows-based systems. This information can be used to gain an understanding of the systems security posture. DumpSec can collect user accounts and group information, share permissions, system audit policies, trust relationships, file/directory permissions, and Windows registry information. By querying the registry, this tool can generate user lists, group lists, and system policies that may be used to detect security issues in Windows-based networks. By analyzing the data collected with DumpSec, an expert can identify potential security weak points, configuration issues, and possible attack vectors that could be used to compromise a system.
  • Dumpster diving is the practice of searching through garbage for personal documents and other items that contain confidential or sensitive information. It is a form of identity theft, as criminals can use this information to open new accounts, access bank accounts, apply for credit cards, or even commit financial fraud. Dumpster diving is a common activity of cybercriminals, as well as malicious hackers, who will scour through garbage to find documents with information they can exploit. It is important that individuals take measures to properly dispose of sensitive materials such as bills and bank statements to ensure they do not fall into the wrong hands. This includes shredding or burning all documents that contain sensitive data before they are thrown away. Failing to do so can leave individuals vulnerable to dumpster diving related identity theft.
  • Duplicate Payment Schemes are a type of fraud in which an individual or business makes multiple payments for the same invoice without the permission of the recipient. Criminals may use fake invoices, altered invoices, or other forms of false documentation to request payments from a single customer, multiple customers or third-party payment services. These payments are then fraudulently transferred to the criminals own accounts. This type of fraud is difficult to detect as it involves a single customer and usually involves the same payment method multiple times. In order to detect and stop this type of fraud, businesses must be aware of and monitor for multiple payments for a single invoice.
  • E-commerce fraud is a type of fraud that uses the internet and online payment systems to buy goods or services without the customer's knowledge or consent. This can include fraudulent credit card transactions, fraudulent payments, identity theft and money laundering. It can take many forms, from using stolen credit card numbers to using fake merchants to process online purchases, or from using a hijacked account to purchase goods or services. E-commerce fraud is an ever-increasing problem, and criminals can act quickly and without detection due to the anonymity of the internet transactions. Businesses must take steps to protect themselves, their customers, and their money from online fraudsters. This includes using strong encryption technologies to secure customer data, utilizing risk scoring and monitoring services, and implementing fraud prevention notifications.
  • The Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) is an inter-governmental organization which seeks to strengthen cooperation between the states in Eastern and Southern Africa in order to prevent and combat money laundering, the financing of terrorism and proliferation of weapons of mass destruction. It was established in 2000 in order to provide a regional forum to enhance the capacity of its member states to develop and improve the implementation of regional anti-money laundering and counter-financing of terrorism measures. ESAAMLG consists of 25 member countries which have agreed to develop and implement a comprehensive framework to identify, assess and address money laundering and terrorist financing risks. This includes the adoption of legislation, regulations, guidance and standards on anti-money laundering and counter-financing of terrorism. The organization is also actively involved in the development and implementation of various prevention, detection(...)
  • Eavesdropping is a type of malicious attack in which an unauthorized user intercepts communications between two hosts, such as a computer or network. This malicious attack can occur in both wired and wireless networks. In a wired network, a hacker can use a device such as a network sniffer to capture, decode, and monitor all data passing through the network. In a wireless network, a hacker can use a device such as a wireless sniffer to capture, decode, and monitor all wireless communications, such as a Wi-Fi signal. Eavesdropping is a serious concern for any organization or individual because it can compromise the privacy, security, and integrity of data that is communicated between hosts. It is vital for organizations to ensure proper security protocols are implemented in order to protect against malicious attack vectors, such as eavesdropping.
  • Economic Sanctions are restrictions imposed by a government on economic activities within a country, or between a country and the rest of the world. These restrictions can be both collective, imposed by a group of countries, and individual, imposed by one country. Sanctions may include an embargo on imports and exports, restrictions on financial transactions, and travel bans. They are usually imposed in response to a violation of international law, or for political reasons. The purpose of economic sanctions is to apply pressure on a government or organization to change their policies, or cease certain activities.
  • The Egmont Group of Financial Intelligence Units (EGFIU) is an international network of government organizations, responsible for receiving and analyzing financial information that is reported for suspicious activities or criminal activities such as money laundering and terrorism financing. The members of the group, which include nearly 150 countries, share information between their respective Financial Intelligence Units (FIUs) and cooperate to provide mutual assistance in areas such as identifying sources of illicit funds and financial flows. The EGFIU also provides a platform to encourage the exchange of best practices and to promote the development of an effective global AML/CFT system.
  • Egress filtering is a type of cybersecurity practice consisting of inspecting traffic leaving a given network and blocking any that does not meet a set of predetermined criteria. This is done to protect the network from potential malicious activities, such as data exfiltration or a Distributed Denial of Service (DDoS) attack. Egress filtering is especially important in the context of public networks, as unauthorized outbound traffic may be used to spread malware or launch attacks against other networks. Egress filters are typically configured on firewalls, routers, and other network devices. The type and degree of filtering to be implemented depends upon the particular security needs of an organization.
  • EID services, which stands for Electronic Identification and Authentication Services, are designed to give users secure access to web-based applications and services. The user will receive an identity that is specific to the service being used as well as a password to securely access the service. This type of service is commonly used in industries where data security and user identification is essential, such as banking, finance, and healthcare. It minimizes the chances of fraudulent activities and increases protection of data and the user’s personal information. It is often combined with other authentication techniques, such as a one-time passcode or biometric authentication, to provide an additional layer of security. EID services are also used for user authentication for online shopping or online transactions, helping to protect users from identity theft or other cyber-attacks.
  • Electronic Data Interchange (EDI) is an automated method of exchanging business documents between companies. It is primarily used in supply chain management and other business transactions. EDI eliminates the need for manual data entry and paper documents, and instead allows the transfer of structured data in a standardized format. EDI can be used to send and receive purchase orders, invoices, shipping notifications, and other commercial documents. With EDI, organizations can securely and efficiently exchange data with their trading partners, resulting in faster transaction processing and reduced costs. EDI also reduces errors and discrepancies that are common in manual data entry processes, which can lead to improved accuracy, better customer service and higher productivity.
  • Electronic Funds Transfer (EFT) is the electronic movement of funds directly from one account to another. It is a form of electronic payment system used for making payments and transferring money to individuals and businesses. EFT is a cost-effective, efficient and secure way of transferring funds electronically, and is used by governments, businesses and individuals worldwide. It allows for the transfer of money between two parties without the use of a traditional bank-to-bank transfer. EFT is also a way for businesses and individuals to pay for goods and services without having to physically hand over cash. This reduces the risk of money laundering, as the funds are tracked from sender to receiver.
  • Electronic Know Your Customer (eKYC) is an automated customer identification process that allows organisations to verify the identity of the customer using electronically collected and submitted identity documents and biometric data. It is a legally compliant process that is designed to help organisations mitigate the risk of money laundering, financial crime and identity theft. The eKYC process typically consists of the customer submitting their identity documents, such as a valid ID card, passport or driver’s license, along with information such as their residential address and date of birth. This information is then verified against electronic databases, such as government-issued identification databases, which allows organisations to quickly and accurately verify the identity of their customers.
  • Electronic Money, or E-Money, is a digital form of currency stored in electronic wallets and used for online purchases. E-Money does not exist as a physical object, and its value is determined by the issuing institution. This type of digital currency is typically used for online purchases and can be used to purchase goods and services or transfer money between accounts. E-Money is becoming increasingly popular as an alternative to traditional payment methods, as it is convenient and relatively secure. However, its use must be monitored closely to ensure it is not being used to facilitate illicit activities such as money laundering.
  • Electronic Verification (EV) is the process of verifying a person's identity, address and other data through electronic means. This process typically involves evaluating an individual's identity and address against public and private databases. EV may also include data checks on money laundering indicators such as a person's financial history, social security number, tax identification number, passport number or driver's license number. EV is an important tool for Anti-Money Laundering (AML) and customer due diligence (CDD) programs to help ensure a customer's identity is valid and up-to-date.
  • Email fraud is a type of online crime that involves the use of deceptive tactics to try to get someone to provide sensitive personal information via email. The most common form of email fraud is phishing, in which a criminal attempts to gather personal or financial information by sending emails that appear to come from a legitimate source, such as a bank or credit card issuer. The emails typically prompt the recipient to click a link that takes them to a counterfeit website where they are asked to provide information such as passwords, PIN numbers, or credit card numbers. Email fraudsters also use tactics such as attachment scams, in which an innocent-looking file attached to an email contains malicious code, or hijacked accounts, in which a user is tricked into providing their account credentials. The best way to protect against email fraud is to use an anti-virus program and be wary of any emails that ask for personal information.
  • Email security is a set of practices and protocols used to protect email messages and content from unauthorized access, modification, or deletion. It seeks to protect users from spam, phishing, malware, and other malicious activity, as well as protect data stored on email servers from hackers and other malicious actors. Email security protocols include using secure connections (such as SSL/TLS), encrypting messages, implementing multifactor authentication, regularly updating software and hardware, preventing unauthorized access with firewalls and user authentication, and monitoring email traffic. All of these measures help protect users from cyber attacks and promote safe and secure email communication.
  • Email Spam is unwanted emails sent in bulk, typically sent by automated programs. These emails are often sent out with no specific target in mind, instead hoping to attract anyone foolish enough to click on their malicious links. The emails can contain phishing scams, malicious software, and links to malware sites, all of which can lead to serious financial losses or even identity theft. Spam emails also create a greater chance of users' emails getting compromised, stealing personal information and furthering the reach of cyber criminals. It's important to keep email security up to date and to be wary of any emails that seem too good to be true. Be mindful not to click any suspicious links to avoid becoming a victim of email spam.
  • Email tumbling is a type of phishing attack that involves hijacking an email. It works by the attacker using an email address registered or purchased from a spoofing service, and "tumbling" it with a list of other legitimate email account addresses. The hijacked email is made to appear to have originated from an actual, reputable source. In certain cases, an email tumbling attack will take place in combination with other social engineering tactics, such as ransomware or Trojan infections, and aims at stealing user data by convincing the users to reveal their security credentials. An email tumbling attack can leave users vulnerable to exploitation and financial loss.
  • Email Verification, also known as Email Validation, is a process of verifying and validating the authenticity of an email address that is provided by a user. Generally, this process involves checking the syntax of the email address, authenticity of the domain and whether or not the mailbox exists. To verify an email address, tools such as SMTP (Simple Mail Transfer Protocol) validation and third-party verification systems can be used to confirm the details of a user's email address. It's important to validate emails as it ensures that only real addresses are used, reducing the chances of a fraudulent, malicious or robotic account being created. Email verification is also a key component of data hygiene, and can enable an organization to remove any emails associated with malicious activity from their lists.
  • An embargo is a legal or economic order imposed by a government on the import, export, or transfer of goods, services, or capital to or from another country. It is generally used to protect a nation's economy, or to punish another country for political reasons. An embargo prohibits entities from engaging in commercial activities with an embargoed country, including trade, investment and financial transactions. It also restricts the transfer of technology, the provision of services and funds, the acquisition of goods, or any other economic or financial activities with or involving the embargoed country. Embargoes are a powerful tool that can be used to disrupt the economic relationships between countries, which can lead to serious political, economic and social consequences for the affected countries involved.
  • Embezzlement is the illegal misappropriation of funds or assets entrusted to an individual or organization. It is a form of white-collar crime and is often committed by individuals in a fiduciary role, such as a corporate executive, accountant, or employee. The act of embezzlement involves fraudulently converting the entrusted property for one's own gain, either through outright theft, or by diverting funds for an unauthorized use. As an Anti-Money Laundering expert, one must be aware of the signs of embezzlement and alert their employer to any suspicious activity that could involve the misappropriation of funds.
  • Employment scam is a type of fraud where criminals target job seekers. It usually involves criminals pretending to be legitimate employers, often through phony websites and email accounts. In these scams, the scammers may offer jobs that either do not exist or require the job seeker to pay upfront in order to obtain the “employment”. They may then ask for the person’s personal and bank details which can lead to identity theft or financial losses. Additionally, the “employers” are often very persuasive in convincing job seekers that the opportunity is legitimate and urge individuals to act quickly. It is important for job seekers to confirm the legitimacy of the job and the employer before providing any sort of personal information.
  • EMV stands forEuropay, MasterCard, and Visa. It is a global standard for credit cards equipped with computer chips and the technology used to authenticate chip-card transactions. EMV cards are characterized by their small embedded microprocessors or chips, which store and protect cardholder data. The chips also enable sophisticated fraud prevention features, such as dynamic card verification values (CVV), dynamic data authentication (DDA), and transaction-specific cryptograms. To complete an EMV transaction, the card's chip must be read by an EMV-compatible device and users must authenticate the transaction using a PIN or signature. EMV cards and the EMV standard help to reduce card-fraud and create a more secure payment environment for merchants and customers alike.
  • Encapsulation is a security mechanism that is used to protect data and information from undesired access and manipulation. It works by creating an additional layer of protection around the data and information, commonly referred to as a wrapper. This prevents hackers from directly accessing the data as the wrapper must be broken for access. In addition, the wrapper also provides a boundary for the data, restricting access to only authorized users. Encapsulation is one of the core principles of cybersecurity, as it prevents any form of unauthorized access from taking place and ensures that the data is kept safe and secure.
  • Encode is a process used to transform data from one format to another. This process helps secure data by making it difficult for attackers to understand, allowing only those with the right decoding tools and knowledge to access the data. The most common type of encoding is encryption, which uses complex algorithms to convert plain text into an encrypted cipher. Other types of encoding include hashing and encoding into different formats, such as HTML, JSON or Base64. Encoding is an essential tool for cybersecurity professionals to protect data from unauthorized access.
  • Encryption is a process of encoding a message or data in such a way that only the intended recipient can decode it. Encryption is an important cybersecurity tool to protect data from unauthorized access, modification, and/or use. It works by transforming plain text into a ciphertext by applying an encryption algorithm and a secret key. The ciphertext cannot be decrypted without the secret key and is therefore unreadable by anyone other than the intended recipient. This makes encryption an important cybersecurity measure to protect data in storage, transit, and communication.
  • Encryption keys are a type of security measure used to protect data from unauthorized access. They are used to encrypt data for storage and transmission in order to keep it secure. An encryption key is a string of random numbers, letters and/or symbols used to scramble data so that only those with the encryption key can decode it. Encryption keys can be either symmetric (where the same key is used to encrypt and decrypt the data) or asymmetric (where different keys are used for each function). Encryption keys are an effective way to protect sensitive data from malicious third-parties. It is important for organizations to regularly update their encryption keys to make sure their data remains as secure as possible.
  • An End-User Certificate is a type of certificate issued by a Certification Authority (CA) to an individual or an organization. The certificate is used to authenticate the identity of the end-user and validate that the user has permission to access financial systems and data, and to prove that the user is the person the Certificate was issued to. The Certificate contains the user's name, email address, public key, and other information related to the end-user. When used with Anti-Money Laundering (AML) software, the End-User Certificate helps to identify, monitor, and report money laundering activities.
  • Endpoint Detection and Response (EDR) is an advanced cybersecurity technology used to detect and respond to malicious activity. It acts as a supplement to traditional security solutions providing a comprehensive real-time view of an organization’s environment. EDR uses machine learning, behavior analytics and automation to identify potential threats and respond to them quickly and efficiently. It monitors each endpoint for suspicious activity and provides visibility into the entire system's activities and audit trails. In addition, EDR offers the ability to detect and stop suspicious activities before they can cause damage. EDR is an essential tool for any organization to secure its data and resources from malicious actors.
  • Endpoint protection is a type of cybersecurity solution that uses a variety of techniques to protect endpoints from malicious software and other cyber threats. Endpoints can be any type of device such as laptops, tablets, mobile phones, desktops, or servers connected to a network. Endpoint protection includes measures such as firewalls and antivirus/malware detection and removal programs to detect, contain, and block threats as well as patch management to ensure the security of the system is up to date. It can also include tracking, backup, and restore capabilities to allow organizations to quickly recover from any security incidents. Endpoint protection is often layered with other types of security solutions such as network security, data encryption and user authentication. Together, these measures provide comprehensive security for all of the organization’s endpoints.
  • Endpoint security, also known as endpoint protection, is a type of security system designed to protect the data, applications, and personal information stored on a user's personal device. It is an important part of any modern organization's security strategy, and is designed to protect the end-user from malware, ransomware, and other internet threats. Endpoint security involves the deployment of agent-based software on each device in order to detect any suspicious activity. It also incorporates firewall, antivirus, and other security tools to protect the user from malicious external threats. Additionally, it can be used to monitor user behavior and detect any suspicious activities, which allows organizations to quickly respond and take necessary corrective action.
  • Enhanced Due Diligence (EDD) is a process of rigorous monitoring of a customer relationship to ensure that the customer is not involved in any money laundering and finance crimes. EDD normally involves deeper scrutiny of the customer's sources of funds and their identity to ensure that all activities meet acceptable standards. EDD is an integral part of Anti Money Laundering compliance and is regularly used in on-boarding new customers. EDD requires the financial institution to verify the customer's identity, analyze their risk profiles and investigate their backgrounds to identify any suspicious activity. EDD also includes ongoing monitoring for any changes or activity that could pose a higher risk or indicate a potential for money laundering.
  • Escrow passwords are a security system for managing a user's passwords. They are used by organizations or companies when an individual needs to be given access to multiple accounts but cannot remember or manage all the passwords. Escrow passwords allow a single user to authorize access to multiple accounts without having to remember the individual passwords. The authorized user would typically provide the escrow system with their username, password, and account access details. The escrow system will then securely store the credentials and send them to the appropriate account holder when requested. In this way, the individual no longer needs to remember the passwords of all the accounts, but still needs to remember the username and password of the escrow system. This provides secure access while also ensuring the user's privacy.
  • The Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) is a regional organization that is responsible for promoting and facilitating the implementation of international standards of anti-money laundering and counter-terrorist financing across the Eurasian region. The EAG’s members include the financial intelligence units (FIUs) of all the countries of the Eurasian Economic Union, as well as the FIUs of Turkey, the United Kingdom and the United States. The EAG works to provide training and technical assistance to the FIUs of the region, and to facilitate information sharing between them. It also works to ensure that their anti-money laundering and counter-terrorist financing legislation is in line with international standards.
  • The Eurasian Group on Combating Money Laundering and Terrorist Financing (EAG) is an international intergovernmental organization established to coordinate and analyze efforts to combat money laundering, terrorist financing, and other related threats. Established in 2004, the EAG is composed of representatives from 11 member countries in the region. The EAG works to identify and analyze trends in money laundering and terrorist financing; develop and coordinate policies and legislation to prevent and combat money laundering, terrorist financing, and other related crimes; and monitor and evaluate the effectiveness of national systems and procedures. The EAG also provides technical assistance and capacity building.
  • The European Institute for Financial Regulation (EIFR) is an independent, non-profit organisation based in Brussels, Belgium that serves as a centre of excellence for research, debate and advocacy related to anti-money laundering and counter terrorist financing. The EIFR is a non-governmental organisation that seeks to develop, promote and implement effective policies and strategies aimed at preventing financial crime in Europe. It provides a forum for stakeholders from the public and private sectors to exchange best practices and develop models for implementing strategies for preventing money laundering and other forms of financial crime. Additionally, the EIFR provides training, tools and resources for industry professionals, law enforcement and regulators, to assist them in creating a more secure financial system.
  • European Market Infrastructure Regulation (EMIR) is a European Union (EU) regulation which was implemented in 2012 and is designed to reduce systemic risk and improve the transparency of financial markets. The regulation applies to all OTC derivatives, exchange-traded derivatives, and centrally cleared derivatives including all relevant financial counterparties, such as investment firms, credit institutions, and non-financial entities. EMIR requires firms to meet the requirements of trade reporting, risk mitigation, and the clearing of derivatives. In addition, EMIR requires the use of an approved reporting mechanism (ARM) to submit reports to a trade repository, as well as risk mitigation measures, such as collateralization of derivatives. EMIR’s purpose is to provide better protection to the financial system by reducing counterparty risk and improving the transparency of the derivatives market.
  • The European Union Directive on Prevention of the Use of the Financial System for the Purpose of Money Laundering and Terrorist Financing, commonly referred to as the Fourth Anti-Money Laundering Directive (4AMLD), is an EU legislation that aims to prevent money laundering and terrorist financing activities. More specifically, it requires financial institutions to carry out enhanced customer due diligence, implement internal control mechanisms, and report suspicions of money laundering or terrorist financing activities. It also introduces a new set of regulations to improve the effectiveness of the fight against money laundering, such as the mandatory registration of corporate and trust beneficial owners in a publically accessible register. 4AMLD also makes it easier for the exchange of information between financial institutions and law enforcement authorities.
  • Europol is the European Union’s law enforcement agency, tasked with tackling serious international crime and terrorism. Specifically, Europol focuses on combating money laundering, a criminal activity that hides the origins of illicitly-gained money. Anti-money laundering experts use a variety of strategies to detect, prevent, and investigate suspicious activity. These include analyzing financial data, monitoring transactions, and tracking the flow of funds across borders. Europol takes an active role in these initiatives and works with law enforcement agencies throughout the EU to ensure that criminals do not use financial systems to hide and transfer illegal proceeds.
  • Evasion of Economic Sanctions is a type of financial crime which involves deliberately circumventing international economic restrictions imposed by governments. This could involve activities such as establishing sham companies and creating false trade documents to cover up the real beneficiary of illicit funds, or using false shipping documents to disguise the destination of the goods, as well as using underground banking networks to transfer funds to sanctioned countries or individuals. All of these activities are intended to help those subject to sanctions to gain access to goods or services that would not otherwise be available, or evade restrictions on money transfers. It is a serious crime, with severe penalties in many countries.
  • Event-triggered monitoring is a method of analyzing financial transactions to identify suspicious activity. It uses various parameters, such as the amount, type, and source of funds, to identify suspicious events. This method is used to detect and prevent money laundering, terrorist financing, or other criminal activities. It allows for the prompt identification of suspicious transactions which could potentially involve money laundering or other criminal activities. Event-triggered monitoring helps financial institutions comply with anti-money laundering laws and ensures that they are aware of any suspicious activity. This method also helps identify previously unknown money laundering activities.
  • An Exclusions List is a tool utilized by anti-money laundering experts to help identify and isolate suspicious financial transactions. The list includes entities and individuals that are prohibited from conducting business with the organization due to their potential involvement in money laundering activities. This list can contain names of past customers, high-risk countries, and entities that have been previously identified by government or other regulatory bodies as being associated with money laundering. The Exclusions List also helps to ensure that the organization is not exposed to legal and financial liabilities related to money laundering.
  • An exploit is a type of malicious software used by attackers to take advantage of vulnerabilities in a computer system or program. It is designed to gain unauthorized access to a system, compromise its security, and allow the attacker to control it or obtain sensitive data.Exploits are usually written in a scripting language, such as JavaScript, and can be distributed in a variety of ways such as through email attachments, malicious links, and malicious websites. They can be used to remotely control systems, gain access to sensitive data, and even to launch damaging attacks such as a denial of service. As such, they are a major threat to any system and need to be addressed and monitored.
  • The Exponential Backoff Algorithm is a method for retrying an operation a set number of times which increases the wait time between retries exponentially. It is commonly used in computer networks, and is a part of the Transport Control Protocol. The algorithm works by increasing the time to wait for each retry, enabling the system to recover more quickly from high levels of contention. Exponential Backoff enables distributed systems to have a better chance at successful operation, by reducing the amount of simultaneous attempts by multiple users or processes which can overload the system. The algorithm also helps to reduce the probability of retry attempts overlapping, causing conflicts or data integrity issues. This makes it an effective tool to optimize network performance, ensuring a steady flow of communication and data exchange.
  • The Export Administration Regulations (EAR) are a set of regulations created by the U.S. Department of Commerce that are aimed at preventing the illegal export of U.S. items and services. These regulations primarily focus on restricting the transfer of potentially dangerous items and technologies to certain countries and individuals deemed as a national security threat. The EAR regulates the export of items from the United States and the release of certain technologies and software to foreign nationals within the United States. Additionally, the EAR requires that parties receiving any U.S. items or services comply with applicable regulations concerning anti-money laundering and financing of terrorism.
  • Export Control Joint Unit (ECJU) is a collaborative organisation between HM Revenue & Customs (HMRC) and the Department for International Trade (DIT) of the United Kingdom government. The unit is responsible for the enforcement of strategic controls over the export of goods from the UK. This includes implementation of export control regulations, monitoring of exports and the identification of illegal activities related to export controls. The ECJU utilises intelligence and risk-based approaches to enforce compliance with export controls. It also works with industry to ensure the UK's trade controls are effective, and with law enforcement agencies to combat illicit trade.
  • Exposure is a concept in cybersecurity that refers to the fact that an organization or individual is vulnerable to potential threats and risks. Exposure can take many forms, ranging from the disclosure of sensitive data, to an organization's lack of security controls or procedures, to the lack of appropriate infrastructure and technology to protect the organization from attack. Exposure can also refer to the amount of resources and knowledge that an organization or individual has to prevent and respond to cyber threats. Even though organizations can take measures to protect themselves, exposure can still exist, making it key for organizations to invest in credible cybersecurity strategies and solutions.
  • A trust is an arrangement in which a person or entity (known as the trustor/settlor) transfers legal ownership of his/her property to another person or entity (known as the trustee) for the benefit of a third party (known as the beneficiary). An express trust is an arrangement where the trustor explicitly states the trust's terms and conditions in a written document that is signed and witnessed. The trustee must follow the terms and conditions of the trust document, and is responsible for managing the trust assets for the benefit of the beneficiary. An express trust is a valuable tool to protect and manage assets, especially for anti-money laundering.
  • The Extensible Authentication Protocol (EAP) is an authentication framework used in point-to-point connections that provides support for multiple authentication methods. It is used to authenticate users of a variety of networks, such as wireless, LAN, and VPNs, by using an encrypted exchange of information between the client and the authentication server. EAP provides flexibility for allowing different authentication methods such as smart cards, one-time passwords, Kerberos, and public key certificates. It also provides support for multiple authentication rounds to enhance the strength of the authentication process. Additionally, EAP supports mutual authentication to prevent man-in-the-middle attacks and session resumption for better performance and user experience.
  • Exterior Gateway Protocol (EGP) is a type of protocol used in networking to exchange routing information between two autonomous systems. Specifically, EGP is a protocol that exists at the top of the internet protocol (IP) suite hierarchy and is used for connecting two different networks. It allows for communication between two systems, such as different organizations, that have different routing capabilities, and protocols, such as RIP, OSPF and ISIS. In essence, EGP provides a way for networks to communicate and exchange data, while ensuring that all data transferred is secure and accurate. Therefore, it is an important part of any network’s security architecture and can provide defence against any unauthorized access or data manipulation.
  • External Evasion is an Anti-Money Laundering (AML) technique used by criminals to move illicit funds out of a jurisdiction. It entails the transfer of funds or assets across borders or to another financial institution outside the jurisdiction. External Evasion is often disguised as legitimate business transactions for the purpose of concealing the true source of the funds. This can be accomplished through activities such as shell companies, false invoicing, offshore accounts, and trade-based money laundering. As an Anti-Money Laundering Expert it is essential to stay informed and monitor changing methods used to commit this type of fraud.
  • Extradition is the legal process whereby an individual who is accused or convicted of a crime in one jurisdiction (the defendant) is surrendered by another jurisdiction (the requested state) to the requesting jurisdiction. This can occur between two different countries, or between federal and state jurisdictions within the same country. Extradition proceedings are governed by domestic statutes, as well as by international treaties between states for the purpose of criminal law enforcement. Extradition requests are made by the prosecuting authority on behalf of the requesting jurisdiction. Courts in the requested state can determine whether the defendant is lawfully extraditable.
  • Extraterritorial jurisdiction is a legal term that refers to a country's power to enforce its laws beyond its borders. This is typically accomplished by extending the jurisdiction of a domestic court to an offense committed by a foreign national in a foreign country. This type of power is typically used in cases where a foreign national has committed a crime, such as money laundering, in another country, and the country wishes to prosecute them. Extraterritorial jurisdiction can also be used to protect a foreign national's rights when they are in a foreign country.
  • Extraterritorial Reach is a concept used in Anti-Money Laundering law that allows a government to extend the scope of its laws to entities located outside its jurisdiction. The purpose of this concept is to prevent money laundering and other financial crimes, allowing the government to reach transactions that occur in foreign jurisdictions. This allows a country to effectively police its borders, pursuing criminals and enforcing its laws, even when they are outside the country. This can be done through judicial assistance and cooperative agreements negotiated between countries.
  • Facial recognition is a form of biometric identification that uses an individual's physical characteristics such as facial features, shape, and structure, to recognize them for security purposes. Data from an individual face is captured through various sensors that analyze physical characteristics, such as the distance between eyes, size of the nose, and shape of the chin. The data is then compared to a vast database to match against known identities. It is commonly used for identification, access control, and surveillance in high-security areas and to increase the accuracy of fraud prevention and cyber security measures.
  • Facilitation of money laundering refers to the process of assisting individuals or organizations in hiding illegal sources of wealth or income. This activity is aimed at deceiving law enforcement and avoiding taxes. Facilitation of money laundering can involve the use of intermediaries or shell companies to transfer funds, providing false documents to disguise the true origin of funds, and concealing the true ownership of assets. Facilitation of money laundering is a criminal offense in many countries and carries significant legal penalties. It is important for financial institutions and other organizations to have robust anti-money laundering systems in place to prevent and detect this type of activity.
  • Fake check fraud is a type of scam in which an individual or business is tricked into accepting a fraudulent or counterfeit check as payment for goods or services. The fraudster typically sends a check for an amount far higher than the amount due, requesting that the extra money be sent back to them. The scam is especially dangerous because there is usually a significant lag between the time when the fake check is accepted and the point at which the bank discovers that it is fraudulent. In some cases, the victim may not realize for months or even years that the check was counterfeit. The best way to avoid falling victim to this scam is to always verify the checks thoroughly, including calling up the bank that issued it, before cashing it or depositing it into your account.
  • Fake merchandise is a term used to describe counterfeit products that are made to look like a genuine item but are sold as an imitation. Fake merchandise typically includes items such as clothing, jewelry, accessories, electronics and even luxury items. The purpose of fake merchandise is to deceive consumers by coming across as a genuine product. In most cases, price is a strong indicator of authenticity and fake merchandise is often sold at substantially lower prices than the original items. The quality of fake merchandise is often extremely poor, often inferior to the original items, and can be dangerous in some cases. Fake merchandise is estimated to cost the world's economy billions of dollars a year in lost revenue and puts consumers at risk of being scammed or purchasing low quality or unsafe products.
  • False Account Entries is an accounting term used to describe an entry made in a ledger, or other booklet of record, which is either not supported by appropriate documentation or is contrary to accepted accounting principles. This type of entry is often made with intention to deceive or commit fraud in order to divert funds or assets. False account entries alter the true financial position of a company and may appear in balance sheets, income statements, cash flows, and other financial statements. Some common false entry tactics include understatement or overstatement of assets/liabilities, misclassification of expenses and revenues, and inflation/deflation of accounts. These practices should be guarded against through internal controls and regular audits.
  • False data is any data that is being purposely misrepresented or incorrectly reported. This can either involve the manipulation of existing data or the introduction of new, false data. False data can be used to manipulate records or to set up fraudulent accounts. It can also be used to anonymize malicious activities on networks and in databases. False data can occur in physical or digital records, and it can be used to inflate expenses, conceal illegal activity, hide stolen funds, mislead the public, and manipulate stock prices. It is important for organizations to be aware of false data and to have safeguards and security measures in place to detect and prevent it from occurring.
  • False declines occur when an automated system mistakenly flags a legitimate transaction as fraudulent and then blocks the payment. This is an increasingly prevalent problem in the fraud prevention industry due to the increasing complexity of cyber security measures and the reliance on automated systems. False declines result in a loss of business because retailers stop genuine customers from purchasing items and services. The effects of this problem can become especially damaging for smaller businesses, which are often more vulnerable to false declines because of limited resources for first-level fraud controls. In order to prevent false declines, merchants should implement comprehensive monitoring with multiple layers of analysis from different angles, as well as careful manual reviews of every transaction.
  • False documents are documents that contain false information; they have been modified, manipulated, and/or altered for malicious reasons. Fraudsters may use false documents to falsely claim services, such as healthcare or unemployment benefits, or to misrepresent their identities or backgrounds. They can also be used to commit financial fraud or identity theft, such as using false tax returns to obtain credit cards or fraudulent passports to access bank accounts. The production and dissemination of false documents is a tool used to gain illegal access to resources. Hackers can also use false documents, such as fake application forms, to obtain sensitive information to attack networks and manipulate data. As such, preventing the use of false documents is important for the security of both businesses and individuals.
  • False expense claims, also known as expense account fraud, involves the submission of fraudulent reimbursement requests for expenses that were either never incurred or where the amount claimed is larger than the actual amount incurred. In some cases, a person may seek reimbursement for a personal expense, ostensibly as a business expense, or may file multiple claims for the same expense. This type of fraud is especially hard to detect and can be extremely costly to a company. Common schemes involve submitting fictitious receipts and/or inflating the amounts on legitimate claims. Companies can minimize these frauds by implementing stringent control measures, basic accounting principles, and auditing procedures to detect false expense claims.
  • False expense reimbursements are a type of fraud that occurs when a person or organization uses inflated or fictitious expenses to obtain money from an employer or other source. This type of fraud often goes undetected as the perpetrator often creates phony documents or receipts to support their claims. False expense reimbursements can be difficult to detect because they require a thorough audit and careful examination of business records. The goal of this type of fraud is to steal funds from an employer or other source without their knowledge. False expense reimbursements can occur in various forms including requesting reimbursement for travel and entertainment expenses, claiming expenses for non-work related events, and using corporate credit cards for unauthorized purchases. It is important to have a secure system in place to track, monitor and detect any false expense reimbursements. By implementing effective fraud detection and prevention, organizations can protect(...)
  • False Financial Statements are a type of fraudulent activity that involves intentionally misstating the financial performance or health of a business. This can take the form of either knowingly understating assets, liabilities or revenues, or overstating them. It is done to either manipulate a business’ attractiveness to potential investors or creditors, to present an inaccurate picture of a company’s performance for personal gain or to reduce taxes or expenses. These false statements can be either intentional or unintentional, depending on the situation. However, regardless of intent, making false financial statements is illegal and can result in civil and criminal penalties.
  • False Front Merchants are scam artists who create illicit businesses to impersonate legitimate companies. These businesses are often referred to as "sham companies" or "shell companies" and they're mainly used as a vehicle to commit fraud or launder money. False Front Merchants will often establish business accounts and even file tax returns, while all the while concealing their true status and activities. They may also purchase real or virtual office space, hire staff, and solicit business in order to appear legitimate. By creating a False Front Merchant, criminals can illegally gain access to the payments systems of the company they are impersonating in order to steal funds. It is essential for businesses to be aware of any potential False Front Merchants in their area in order to protect themselves from fraudulent activities.
  • False Identity Fraud is a type of identity theft or fraud where a criminal uses a counterfeit or stolen identity to open bank accounts, apply for loans and credit cards, receive merchandise, or to defraud companies and individuals. The criminal usually creates a fictitious identity and provides false documents, such as a driver's license, utility bills, or insurance documents to give the false identity validity. The criminal may also use a stolen identity to commit fraud, such as creating a fake website or using a fake name to purchase goods or services online. The criminal may also use an identity to commit other financial-related crimes, such as obtaining government documents or access to valuable financial information. False Identity Fraud is a serious crime, and victims can experience significant financial and emotional damages.
  • False invoices are fraudulent documents used to commit financial fraud. They are constructed to mimic legitimate vendor invoices and are used to draw funds from a company’s treasury. False invoices may contain fictitious or bogus charges, inflate the cost of actual services rendered, or be billed from a phony vendor. Companies can be victimized as a result of broken internal controls or a lack of attention to detail. Fraudsters can disguise a false invoice as a legitimate request for payment, making it difficult for even the most sophisticated accounting departments to detect. Companies should have robust policies and procedures in place to ensure all invoices are properly reviewed and fraud is minimized.
  • False Negative is a type of misclassification that occurs when an algorithm fails to detect an actual threat or anomaly. This could be a result of a lack of data or not enough features being considered, or it can happen when the features of the attempt are too similar to legitimate activity. This can lead to false security, as malicious actors can exploit the security system's ineffectiveness. As such, false negatives are important to consider when designing and deploying a fraud prevention or cybersecurity system. The system needs to be able to pick up on suspicious activity and alert the necessary parties. It is also important to assess the data and features used for detection and ensure that the algorithm can accurately separate the anomalous from the legitimate. Failure to do so can leave the resources vulnerable to attack and manipulation.
  • False Positive is a term used to describe a type of error where a system or programme incorrectly classifies an innocent or normal activity as suspicious or malicious. It may also refer to an outcome of a security system (e.g. a security alert) that is caused by something that is not an attack or malicious action. It is actually a false alarm, as the action or alert rarely poses any real threat. In other words, False Positive occurs when a system incorrectly labels a normal activity as anomalous. In the context of fraud prevention, false positives typically occur when a system flags false positives on legitimate transactions. This could result in delays or even rejection of those transactions, and this can be incredibly costly to businesses. Through the use of sophisticated algorithms and techniques, businesses can help reduce the chances of false positives.
  • False rejects are a type of security breach where a supposedly secure system incorrectly denies a valid user access, leading to a security vulnerability. False rejects occur when a user’s credentials (i.e., username and password) are accurately entered but are then denied authentication due to a security system malfunction. False rejects can occur when a user is incorrectly identified as a malicious intruder or the system fails to differentiate between a routine user and an attacker. Additionally, false rejects can occur when the authentication parameters are set too strictly, such as when a maximum-length password is not accepted. False rejects can also occur if legitimate users are locked out of an account incorrectly or if the system fails to recognize an authorized user due to an expired credentials or a technical glitch.
  • False report is the term used to describe an incident where false data or information is presented to an institution, such as a government agency or commercial entity, for the purpose of gaining a benefit or committing a crime. False reporting can occur both unintentionally and maliciously. Within fraud prevention and cyber security, false reporting is a serious risk which must be monitored and mitigated as best as possible in order to protect the organization from possible financial or reputational losses. False reporting can include the creation and submission of fake paperwork, falsified witness statements, or even fabricating whole scenarios in an effort to manipulate results or exploit weaknesses. This type of behavior is hard to detect and can be extremely costly to an organization if undetected. It is important that cyber security and fraud prevention teams take extra measures to ensure that false reports are not successful.
  • False reporting is the presentation of false claims or data in order to deceive or mislead. It typically occurs when a perpetrator attempts to generate false financial or personal gain through fraud or negligence. False reporting is illegal and can have a detrimental effect on both individuals and organizations. It can take many forms such as providing a false account of an incident, making false statements about an individual's assets and liabilities, or providing inaccurate or fraudulent financial records. It is important for organizations to have an adequate fraud-prevention system in place to detect and prevent false reporting from occurring. Effective fraud monitoring, prevention and detection measures can help to reduce the risk of false reporting.
  • False sales invoices are when an individual or business creates a fake or inflated invoice to manipulate financial reporting. This fraud can take many forms; for example, creating fictitious invoices for nonexistent goods or services, creating invoices with heavily discounted prices, or creating duplicate invoices with altered amounts. This type of fraud is usually committed to inflate sales figures or conceal diverted receipts. It's relatively easy to set up false sales invoices, since an invoice doesn’t always determine liability or the amount due. As a result, it's important to have fraud prevention methods in place to monitor invoices and ensure everything is proper. This includes oversight of the accounts payable department and periodic reviews of vendor invoices. Businesses should also check customer invoices and records to verify the original order.
  • False Statements is a broad term that encompasses any statement that is false or misleading, and is intended to deceive or commit fraud. In the context of Anti-Money Laundering, false statements are often used to hide the true source or destination of funds. Examples include providing false information on a bank account, providing false information on a customer identification form, or providing false information on an international fund transfer. False statements can also be used to conceal the proceeds of fraudulent activity, such as tax evasion or terrorist financing. When false statements are provided, they can obstruct investigations and lead to criminal prosecution. It is essential that Anti-Money Laundering experts have a thorough knowledge of false statements and their implications in order to identify and prevent such activities.
  • False travel claim (FTC) is an act of attempting to receive a financial benefit for a travel expense that was not incurred. It typically involves the attempt to defraud a travel or expense management provider or claim insurer by fabricating, exaggerating, or falsifying travel expenses. It can also involve misrepresenting an expense or hiding a true destination. This can be done through a variety of means including falsifying expense receipts, providing false accounting or banking details, or citing a false destination. In some cases, the fraudulent allowance may have to be paid back. Fraud prevention and cyber security experts work to detect and prevent this kind of fraud. This can be done through the use of fraud detection algorithms, data analysis, automated checks, and review of documentation.
  • False vendors are entities who fraudulently use a legitimate vendor as a false identity. This is done to gain trust or access to sensitive information and data for malicious purposes. False vendors can appear legitimate and can pose significant risks to organizations, as they have access to sensitive data and have the potential to launch cyber-attacks. False vendors can operate with different motives, ranging from financial theft and identity theft, to the spread of malware or ransomware. Companies must take measures to identify and monitor for false vendors, including performing due diligence on vendors before entering into any agreement, frequently reviewing vendor accounts and systems, and enabling internal audits and regular monitoring of vendor activity. It is also important to develop policies and processes to identify vendors who may be part of a malicious network. Proper security measures, such as two-factor authentication and encryption, can also help protect a company(...)
  • Falsified hours are a type of fraud that is perpetrated when an employee or contractor claims to have worked more hours than they actually did and receives a payment they are not entitled to. These situations can occur in many industries, such as software development, remote jobs, manufacturing, and consulting. This type of fraud may be committed by either intentionally submitting false records or by creating a record the employee knows is incorrect. Common indicators of falsified hours may include overtime being requested before usual hours are filled, timesheets with sudden changes in times, invoices without any times being listed, and more. Companies can prevent this type of fraud by creating proper oversight systems and processes to ensure accuracy and accountability in record keeping, as well as using advanced analytics to uncover discrepancies.
  • Familiar Fraud is a type of fraud where the person taking advantage of a victim is essentially someone the victim knows. A common example of this includes a family member deceiving an elderly relative with financial schemes. It typically involves taking advantage of a deep personal relationship with the victim in order to manipulate them, exploiting their trust and familiarity with the fraudster in such a way that it makes them more vulnerable to falling victim to fraud. Familiar Fraud can range from a variety of financial schemes such as identity theft to obtaining credit cards through deceit or even taking over a deceased family member's pension benefits.
  • Fast flux is a technique used by cyber criminals to quickly and dynamically change the IP addresses of compromised web servers. The aim of this technique is to avoid detection and make it more difficult for security analysts to identify malicious activity. This technique is often used in conjunction with malicious botnets to hide malicious activity, such as phishing and spam campaigns, from detection. The system works by rapidly changing the mapping of domain names to IP addresses, making it difficult for attackers to be identified and tracked as the IP addresses change. The speed of the changing of the IPs has to be faster than the detection rate of network administrators in order for fast flux to be effective.
  • Fast Identity Online (FIDO) is a secure authentication protocol which provides a combination of public key cryptography, multi-factor authentication, and biometrics to establish secure, user-friendly authentication. FIDO offers multiple layers of authentication and supports password-less authentication, eliminating the need for shared secrets and reducing the risk of phishing and other fraud. FIDO supports a broad range of authentication mechanisms such as biometrics, one-time passwords, and public key authentication. All authentication is done locally and securely, without the need for data transmission, making it an ideal solution for secure authentication in today's world. FIDO is becoming increasingly more popular for secure authentication due to its enhanced security measures and user-friendly nature.
  • A Fault Line Attack is a type of cyber attack that exploits the weaknesses of a company’s system in order to gain access to sensitive information. Fault Line Attacks are typically conducted by manipulating a flaw in the system or by exploiting an existing vulnerability. These attacks can be used to penetrate networks and systems, steal data, or disrupt operations. This type of attack is especially dangerous because it allows an attacker to bypass traditional security measures, such as firewalls, authentication protocols, and encryption. Fault Line Attacks can be difficult to detect and prevent due to their subtle yet highly effective nature. For this reason, organizations must take steps to identify and mitigate potential security vulnerabilities to ensure their systems are not vulnerable to attack.
  • The Federal Financial Institutions Examination Council (FFIEC) was established in 1979 by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision. It is a formal interagency body that administers and enforces the regulations of the US federal government and state governments on financial institutions. The FFIEC Bank provides guidance on anti-money laundering, Bank Secrecy Act, and other policies and regulations related to the banking industry. The FFIEC Bank also conducts and coordinates examinations of financial institutions to ensure compliance and to help identify and prevent money laundering.
  • Fictitious refunds is a type of fraud in which criminals make false claims of refunds on goods they did not purchase, which they can then collect or transfer the money elsewhere. This type of fraud may involve the use of stolen credit cards or other methods of payment. It may involve the manipulation of invoices or other documents to make it seem as if the return is legitimate. Other methods may include tampering with electronic transactions, refund forms and applications, or other methods of payment. Fraudsters may even provide fake return addresses or routing numbers in order to receive their fraudulent refunds. The result of this form of fraud usually results in financial loss for the retailer or merchant and increases the risk of identity theft.
  • Fileless malware is a type of malicious code that is used to infect a computer system without relying on files as its primary form of delivery. This type of malware utilizes existing operating system tools, such as Windows PowerShell and WMI, to execute and evade detection. Once executed, fileless malware can perform a range of activities, such as data exfiltration, system manipulation, or command execution. Fileless malware is difficult to detect due to its non-traditional nature and requires advanced cybersecurity solutions to detect and protect against.
  • Final Rule Part 504 is a U.S. Treasury Department regulation which requires financial institutions to develop and maintain Anti-Money Laundering (AML) Programs. These programs must include the establishment of policies, procedures, and internal controls to ensure the detection and reporting of suspicious activities, as well as the maintenance of records and reports. Additionally, the rule requires financial institutions to designate an AML compliance officer, and implement customer due diligence and risk-based AML compliance monitoring systems. This Final Rule serves as the foundation of the AML program for financial institutions and sets the expectation for a comprehensive framework of AML compliance.
  • The Financial Action Task Force (FATF) is an inter-governmental body that sets standards and promotes effective implementation of legal, regulatory, and operational measures for combating money laundering, terrorist financing, and other related threats to the integrity of the international financial system. The FATF works to identify national-level vulnerabilities in the global financial system and to develop and apply a series of measures to protect against the abuse of the system for illicit purposes. The FATF is composed of 37 member countries and two regional organizations, the European Commission and the Gulf Co-operation Council. The FATF also works with international standard-setting bodies and financial intelligence units to ensure the implementation of effective anti-money laundering and counter-terrorist financing measures.
  • The Financial Action Task Force on Money Laundering in Latin America (GAFILAT) is an intergovernmental organization founded in 2003 to coordinate efforts and actions to combat money laundering in Latin America and the Caribbean. GAFILAT is composed of 24 Member States and is focused on developing and promoting effective strategies for monitoring, preventing and combating money laundering, financing of terrorism, and proliferation of weapons of mass destruction. GAFILAT implements initiatives such as the adoption of Anti-Money Laundering/Counter-Terrorism Financing (AML/CFT) legal reforms, the promotion of coordination among Financial Intelligence Units (FIUs), training and technical assistance, and the development of standards to promote effective AML/CFT measures.
  • A Financial Action Task Force-Style Regional Body (FSRB) is an international organization dedicated to promoting and implementing standards and procedures to combat money laundering and terrorist financing around the world. This can include measures such as the regulation of financial institutions, reporting of suspicious activities and transaction, and the establishment of effective customer due diligence. FSRBs work to ensure that all its member countries establish, implement and maintain effective Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) measures. This includes assessing each country's AML/CTF framework, making recommendations to improve it, and monitoring its ongoing effectiveness. FSRBs also work together to counter threats posed by cross-border money laundering and terrorism financing.
  • The Financial Conduct Authority (FCA) is a regulatory body set up by the British government to maintain and protect consumers and market integrity. The FCA is responsible for promoting effective competition in the financial services market and regulating financial services firms, including banks, insurers, investment managers and payment services. The FCA strives to ensure that the products and services offered by firms in the financial services sector are reasonably priced, of good quality, and are appropriate for their customers’ needs. Additionally, the FCA works to prevent financial crime, notably money laundering, through its licensing and enforcement activities. It also maintains a public register of regulated firms and persons.
  • Financial Crime is a broad term used to describe various types of illegal activities that are committed using money or the transfer of funds. These activities can include tax evasion, money laundering, embezzlement, fraud, and bribery. Financial crime can also include identity theft, cybercrime, and other forms of computer or online activities that involve the illegal use or misuse of financial assets. Financial criminals use sophisticated methods, such as encryption and digital currency transactions, to exploit the financial system. Financial crimes can cause considerable financial loss to businesses, governments, and individuals. They can also threaten the security of financial systems, undermine trust in the legal and banking systems, and create an environment of uncertainty and fear in which legitimate businesses may be unable to operate.
  • The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Treasury Department that collects and analyzes information about financial transactions in order to combat money laundering and other financial crimes. FinCEN works with law enforcement and other federal agencies to identify, prevent, and prosecute financial crimes. It also provides guidance to financial institutions, including banks, in order to help them identify suspicious activity. FinCEN maintains a database of suspicious activity reports (SARs) that financial institutions are required to file when they become aware of potentially suspicious activity, and it also administers the Bank Secrecy Act, which requires financial institutions to maintain records and file reports with FinCEN.
  • A financial institution is a type of business entity that provides services and products related to money, such as banking, loans, investments, and insurance. Financial institutions are regulated by the government and are subject to Anti-Money Laundering (AML) rules and regulations. Financial institutions are responsible for ensuring that their customers' money is being used for legitimate purposes, and that it is not being used to facilitate money laundering activities. They must also ensure that customers are not financing or participating in activities that are illegal. Financial institutions are required to conduct due diligence on customers, monitor their transactions, and report any suspicious activities to the appropriate authorities.
  • A Financial Intelligence Unit (FIU) is an agency responsible for receiving, analyzing and disseminating financial intelligence to combat money laundering and other financial crimes. It collects financial information from financial institutions and government entities, and identifies suspicious activities. The FIU provides this information to the relevant authorities for investigation and prosecution of financial crimes. The FIU also works to identify and prevent money laundering, terrorist financing and other financial crimes. It works with other international bodies to share intelligence, information and data in order to combat financial crime.
  • A Financial Intelligence Unit (FIU) is an independent government agency that collects, analyzes, and disseminates information regarding financial transactions to aid in the combating of money laundering and other financial crimes. An FIU serves as a focal point for national and international cooperation in the gathering and sharing of financial intelligence. It typically works with law enforcement agencies, financial institutions, and other government departments and agencies to detect, investigate, and prevent money laundering and other financial crimes. An FIU also provides financial intelligence to other countries, international organizations, and relevant private sector entities in order to identify, disrupt, and dismantle criminal activities.
  • Financial sanctions are measures taken by governments, international organizations and other stakeholders to restrict and prohibit financial flows for the purpose of countering money laundering, terrorist financing and other activities which pose a threat to the integrity of the financial system. Sanctions typically include asset freezes, prohibitions against providing financial services or support to designated individuals or entities, travel bans, and prohibitions against transacting with individuals or entities designated as non-compliant. The objective of financial sanctions is to disrupt and prevent the financing of illegal activities, while at the same time preserving the integrity of the financial system.
  • Financing of proliferation is the process of using money in illicit or non-transparent ways to fund the proliferation of weapons of mass destruction (WMD). It involves the use of proceeds from financial activities or organizations to purchase items or services that are used to support the development, production, or delivery of WMD. Some examples include the use of proceeds from drug trafficking or other criminal activities to purchase components of WMD, or the use of funds from shell companies to purchase materials to construct a nuclear weapon. Anti-money laundering experts are essential in identifying and stopping these activities, as well as developing strategies to disrupt the financing of proliferation.
  • Financing of terrorism is the provision of financial services or resources, including funds, goods and services, to individuals or groups involved in terrorist activities. It can be done through a range of financial mechanisms such as donations, charity work, or illicit activities like money laundering and illicit financial flows. Financing of terrorism can also be done through transfer of funds from one jurisdiction to another, through the opening of accounts abroad, or through the use of shell companies. Anti-money laundering experts must be able to detect, investigate, and prevent terrorist financing activities by keeping a close eye on suspicious transactions and by preventing the use of the financial system for terrorist purposes.
  • FinCEN is an acronym for the Financial Crimes Enforcement Network, which is a bureau of the United States Department of the Treasury. FinCEN is responsible for the enforcement of laws and regulations related to money laundering, terrorist financing, and other financial crimes. FinCEN collects and analyzes data on financial transactions in order to identify and report suspicious activity. As an Anti-Money Laundering Expert, it is my job to ensure that banks and financial institutions are in compliance with FinCEN regulations, and that they are actively taking measures to detect and prevent financial crimes. This includes monitoring customer activity, assessing customer risk, and developing and implementing financial crime prevention programs.
  • Fingerprint recognition is a biometric identification process that uses an individual's unique physical characteristics to verify his or her identity. It involves capturing an image of a person's finger using a special scanner and then comparing this image to a database of previously collected and stored finger scans. The accuracy of the system depends on the quality and authenticity of the data being used. Fingerprint recognition is widely used in government, financial, and healthcare organizations as an extra layer of protection against fraud and unauthorized access. Additionally, it can be used to grant access to physical and logical items. While fingerprint recognition is considered one of the most reliable methods to verify identity, it is not foolproof and can be compromised by factors such as wear and tear, environmental factors, and chemical exposure.
  • Fingerprinting is a cyber security method used to identify machines, applications, and users on a network by leveraging specific characteristics or metrics. This allows for identification of hosts and devices, as well as software and applications on the network. It uses a measurement of the characteristics such as software versions, order of user actions, and active services to create a profile or 'fingerprint' of the machine or user. Fingerprinting is an important tool for security teams to use to monitor networks, detect malicious activity, and provide visibility into all of the devices and services on their network.
  • FinTech (Financial Technology) is the use of technology to improve financial services. This includes the use of technology to streamline processes, make financial transactions faster and more secure, and create new financial products and services. FinTech has opened up a range of possibilities, allowing banks, credit card companies and other financial institutions to offer customers access to new products and services that were previously unavailable. FinTech also provides Anti-Money Laundering (AML) experts with the tools to detect, investigate and prevent money laundering activity on a global scale. By utilizing Artificial Intelligence (AI) and Big Data Analytics, AML experts are able to uncover suspicious activity and help prevent money laundering on a large scale.
  • Fintech Fraud is a type of financial fraud that involves the misuse of technology-driven financial services, such as mobile banking, online payments, virtual currencies, and automated investment platforms. Criminals leverage weaknesses in IT systems and the design of financial services in order to gain access to users' information and financial resources. The most common types of Fintech Fraud include phishing, social engineering, and account takeover attacks. Whenever a user's financial credentials are exposed, it opens them up to Fraud. Organizations can defend against such attacks by taking measures such as implementing multi-factor authentication, keeping software up-to-date, and actively monitoring suspicious activity.
  • A firewall is a security system designed to create an electronic barrier between a computer or network and any unauthorized access. It is used to protect a business or organization from malicious software, hackers, and other potential threats to the organization’s computers and data. Firewalls can be either hardware- or software-based and use a variety of methods to block unauthorised access. They filter traffic, employ encryption and authentication, and can define protocols to limit the type of traffic that a user can access. Firewalls help protect a computer or network from outside sources, but they can also be used to restrict access to applications and programs within an organization.
  • The first line of defense against money laundering is a set of policies, procedures, and practices designed to identify and prevent the laundering of money. This includes the identification and reporting of suspicious transactions, the implementation of customer due diligence measures, and the adoption of anti-money laundering training and education for staff. It is key to ensure that all employees understand the organization’s anti-money laundering policy, procedures and controls and that they are adhered to. The first line of defense is not only important to protect an organization from the potential financial and reputational risks associated with money laundering, but also to demonstrate a commitment to compliance with applicable laws and regulations.
  • A Flooding Attack is a type of Distributed Denial of Service (DDoS) attack that attempts to overwhelm a target system with traffic. The attacker sends a massive amount of requests to the target, using a large number of compromised hosts or botnets, causing the target system to become unavailable. Flooding attacks are designed to consume large amounts of resources, leaving the target unable to respond to legitimate traffic. The most common types of flooding attacks are SYN floods, UDP floods, and ICMP floods. These attacks can also be combined for a more effective attack. Flooding attacks are effective because they are extremely difficult to detect, mitigate and prevent. The best way to defend against a flooding attack is to adopt Cloud-based or on-premise DDoS protection solutions that continuously monitor traffic for anomalies.
  • Food Fraud is a type of fraud that involves the mislabeling, substitution, dilution or adulteration of food products for the purpose of financial gain. Food Fraud is a global issue and can occur at any stage of the food chain, from the point of production to the point of sale. It may involve products, packaging or documentation, and can be hard to detect. Food Fraud includes product substitution, tampering and mislabeling, as well as illegitimate claims regarding the source of ingredients or health benefits of the product. Food Fraud is especially concerning because it can affect food safety and lead to serious health risks for consumers. It is important to remember that Food Fraud is a continuous global problem and should be monitored carefully.
  • The Foreign Account Tax Compliance Act (FATCA) is an important part of the US effort to combat tax evasion by US taxpayers holding investments in foreign financial accounts. FATCA requires foreign financial institutions to report certain information about accounts held by US taxpayers or foreign entities with certain US owners to the IRS. FATCA also imposes withholding taxes on certain payments to foreign financial institutions and non-financial foreign entities that do not comply with FATCA reporting. The purpose of FATCA is to ensure that US taxpayers with offshore investments are paying their fair share of taxes.
  • The Foreign Corrupt Practices Act (FCPA) is an anti-corruption law passed by Congress in 1977 that makes it a crime for certain individuals and companies to bribe foreign officials in order to obtain or retain business. The FCPA applies to all US companies, including US issuers of securities and US citizens and residents, as well as foreign companies and persons who cause, directly or through agents, an act in furtherance of such a corrupt payment to take place within the United States. It is also illegal to falsify books and records in order to conceal the illegal payments. The purpose of the FCPA is to prevent bribery of foreign government officials and protect the integrity of the international marketplace.
  • Foreign Sanctions Evader (FSE) is a term used to refer to a person, group, or entity that has deliberately violated or attempted to violate, evade, or avoid U.S. economic sanctions against a designated foreign country. FSEs often use sophisticated schemes and tactics to facilitate transactions with a sanctioned country, such as disguise the origin or destination of funds, or conceal the true nature of their activities from U.S. authorities. FSEs may also use offshore accounts, shell companies, and other methods to disguise their financial activity. It is important for Anti-Money Laundering experts to identify FSEs to prevent them from continuing to evade sanctions and potentially profiting from criminal activity.
  • Forest is a term used in Cybersecurity to refer to the grouping of one or more Active Directory Domain Controllers (DCs) into one logical structure. A Forest is used to manage user authentication and authorization, centrally administer policies and user security settings, and provide access to distributed applications. Active Directory Forest allows for a hierarchical structure which can be extended to multiple locations and can be used to control access to resources across multiple domains. It offers a single sign-on option for users of the domain and offers control of how network resources are accessed. Forest is an important part of any organization's security strategy as it allows for strong control measures to be put in place to protect information assets and networks.
  • Forfeiture is the legal process by which the government or law enforcement agencies take possession of assets or property which have been linked to criminal activity, including money laundering. It is one of the most commonly used means of recovering laundered money and tracking down the proceeds of crime. Forfeiture proceedings are often initiated when there is suspicion of money laundering activities, and they typically involve a court order which allows law enforcement to seize bank accounts, vehicles, real estate, or other assets found to be connected with the alleged criminal activity. The seized assets can then be seized and used to pay fines, restitution, or other penalties associated with the criminal activity.
  • A forged signature is an imitation copy of someone else's signature. It is typically used in order to commit fraud by impersonating someone else or presenting a false identity to gain access to someone else's assets, such as financial records or sensitive personal information. Forged signatures can also be used to manipulate documents, such as contracts or legal documents, to either commit fraud or to interfere with business processes. Forged signatures are often hard to detect, making them a common method of fraud, identity theft, and other forms of cybercrime. Cybersecurity experts may employ a variety of detection methods to help uncover forged signatures and prevent them from being used in malicious ways.
  • A Fork Bomb, also referred to as a Rabbit Virus or Wabbit, is a type of malware that replicates itself in a loop causing an overload on the system resources. The term fork refers to the Unix/Linux command prompt and a fork bomb replicates so rapidly that it quickly exhausts the system's resources, ultimately causing a denial of service to any legitimate user. It will typically consist of a single command or a small script that, when executed, will rapidly create multiple processes that quickly consume all available resources, making the system unusable. The consequences of a fork bomb can be mitigated by limiting the number of processes a user can execute, as well as monitoring process execution for suspicious behavior.
  • Form-based authentication is a security mechanism used to authenticate users of applications or websites. It requires valid credentials, such as a username and password, to prove the user's identity before granting them access. In most cases, once the user is authenticated, they will be given access to the application or website, depending on their permission level. Form-based authentication also uses security measures, such as HTTPS encryption, two-factor authentication, and captcha verification to ensure that the user's data is not compromised. It provides increased security by ensuring that the user is indeed who they claim to be and that their data is safe from malicious attacks.
  • Fortune teller scams are a particular type of fraud in which the scammer pretends to be a fortune teller or psychic. Through this deception, the fraudster convinces his victim to trust him and pay him for a “reading” of the future. The scammer then often tells the victim about a potential upcoming calamity, and encourages the victim to do something to avoid it, such as sending money. When the victim sends the money, the scammer then vanishes, leaving the victim with only a feeling of having been taken advantage of. The fraudster may also take further advantage of the victim by asking further fees or tending to involve the victim in other illegal activities. Victims of the fortune teller scam may be left feeling vulnerable and isolated, particularly when their trusting nature has been taken advantage of.
  • Forward lookup is a method of using a Domain Name System (DNS) to search for a domain or hostname, and obtain an associated IP address. This process is used to resolve domain names to their associated IP address in order to direct traffic on a network. To complete a forward lookup, a server sends a DNS query to a DNS server which contains the domain name, and the DNS server responds with the IP address associated with that domain name. To improve efficiency, the DNS server caches the lookups in order to reduce the number of queries and the amount of time required to complete them. Forward lookup plays an important role in cyber security as it allows for quick and efficient monitoring of network traffic and can help identify malicious activity.
  • A forward proxy is a type of proxy server that is used to access remote websites and services on behalf of the clients. It receives requests from clients, forwards the requests to the destination server and then returns the response to the client. The primary purpose of forward proxies is to hide the source of the requests so that the target server does not know who the original requestor is. This type of proxy also gives organizations the ability to control the content that their users access since the requests are handled by the proxy server instead of the users directly. By having a forward proxy in place, organizations can monitor and filter out malicious content, block websites and limit user access to certain websites. They can also use the forward proxy to log user activities and enforce security policies.
  • The Fourth EU Money Laundering Directive (MLD4) is a directive issued by the European Union in 2015 that provides comprehensive rules to prevent and combat money laundering and terrorist financing. The directive builds on the previous three and sets out measures to better strengthen the risk-based approach to anti-money laundering (AML) and require greater customer due diligence (CDD). MLD4 also requires more robust and effective national measures to be put in place and establishes a stronger framework for cooperation and information sharing between different stakeholders and Member States. MLD4 also sets out stricter rules for beneficial ownership, customer identification and monitoring of transactions.
  • Fragment Offset is a term used in computer networking. It is a type of packet reassembly used in the internet protocol (IP) to break large packets of data into small pieces for more efficient transport over a network. Fragment offset indicates which portion of the original packet the particular fragment belongs to. It is a two-byte field in the IP header that is used to provide the relative position of each fragment within the original data packet. By combining the fragment offset with the size of the fragment, the original data packet can be reconstituted. Fragment offset is an important tool used in network security, as it can be used to break apart malicious traffic and detect threats.
  • A Fragment Overlap Attack is an attack technique used by malicious actors to inject malicious code into an otherwise legitimate web request. The attack works by sending multiple web requests that include the same fragment of data, but with different content. This technique allows the attacker to bypass restrictions imposed by a web application firewall, or to bypass other security measures that may be in place. The attack also allows an attacker to bypass any mechanisms which are designed to detect malicious code. Fragment Overlap attacks can be used to inject malicious code into web applications, which can then be leveraged to gain access to confidential information, or to execute malicious commands. Fragment Overlap attacks are a common form of attack and can be difficult to prevent, so it is important to employ proper security measures to help protect against this type of attack.
  • Fragmentation is a security technique and countermeasure used to protect computers and networks against malicious attacks like data theft, virus intrusion and unauthorized network intrusion. It works by breaking up data into discrete packets, which are then sent and stored in multiple locations, making it difficult for an attacker to gain access to the data. Fragmentation also makes sure that systems are able to continue functioning correctly even when an attack is attempted. It can also be used to maintain high levels of security in terms of data confidentiality, integrity, availability and user privacy.
  • Framepoofing is a type of cyberattack in which an attacker intercepts and alters data frames in order to gain access to a network. This attack includes forging or manipulating the source or destination address of a data frame in order to evade detection or to disguise the origin of the attack. Framepoofing can be used to gain unauthorized access to data, services and networks, as well as to launch Denial of Service (DoS) attacks. The effects of this attack can include data theft, network disruption, system exploits, and interruptions in service to legitimate users. This type of attack is difficult to detect, as the attacker can use multiple techniques to evade security systems. With the increasing use of cloud technologies, framepoofing attacks are becoming more prevalent and difficult to detect.
  • Fraud is the intentional deception or misrepresentation made with the aim of gaining something of value. It includes activities such as identity theft, money laundering, phishing, and hacking. Fraudsters often use sophisticated methods such as masking activities, making fake accounts to exploit or manipulate a system, and taking advantage of vulnerable operating systems or networks. In most cases, the victims of fraud are unsuspecting and the resulting losses for them can be significant. To prevent fraud and cyber security threats, organizations need to understand the risks associated with connected systems, take appropriate steps to protect their data, and remain vigilant. They should also consider investing in comprehensive fraud prevention tools, such as strong authentication, data encryption and advanced fraud analytics.
  • A Fraud Analyst is a fraud prevention and cyber security expert who is responsible for identifying potential threats, investigating suspected fraud cases, and providing appropriate solutions to reduce the risk of fraud and protect an organization's assets. They use a variety of techniques such as data analysis, investigative research, risk assessment, and predictive analytics to assess potential risks and identify suspicious activities. They also monitor and review processes, systems, and account activity for potential fraud and employ preventive measures to reduce the risk of fraud. Finally, they communicate with stakeholders, and provide informative reports, suggestions, and potential solutions to management.
  • Fraud Department is a specialized division that is responsible for detecting, investigating, and preventing frauds within an organization or system. It protects against illegal activities such as identity theft, money laundering, credit card fraud, false accounting and other forms of financial fraud. The Fraud Department is in charge of safeguarding the organization’s assets, protecting confidential information and accounts, and identifying any potential fraudulent activities. It is also responsible for responding to external complaints of fraud and creating internal policies and procedures to mitigate such risks. It may involve a variety of technologies such as data analytics, fraud detection and prevention software, machine learning algorithms and more. The Fraud Department is also responsible for setting up proactive measures to detect suspicious activities, educating employees and clients on how to spot a potential fraud, and coordinating with law enforcement.
  • Fraud Detection is a process that uses data science and analytics to identify suspicious activities and potential fraud patterns. This process typically utilises a wide range of techniques, such as identifying changes in data patterns, searching for suspicious relationships between entities, and monitoring flows of financial transactions. In addition, specialized algorithms are designed to detect fraud by analysing huge amounts of data to unmask any discrepancies. Fraud Detection also actively protects against deceptive activities like account takeover and identity theft, which otherwise may result in financial losses. This process also often finds its application in power-intensive industries like banking and insurance.
  • Fraud detection software is an automated tool used to detect and prevent fraudulent activities. Its purpose is to detect any suspicious behavior, such as abnormal transactions, missing records, and potential identity theft, in order to protect businesses from potential losses. It does this by using sophisticated technology such as artificial intelligence, machine learning, advanced analytics, and data mining to analyze large sets of data, identify patterns and trends, and detect unusual activities. It also helps organizations comply with regulations and protect their reputation by flagging any potential fraud in real-time. In this way, fraud detection software is an essential tool for mitigating the risk of fraudulent activities.
  • A fraud examiner is an individual who investigates cases of fraud to identify potential perpetrators and gain evidence related to the fraud. In order to do this, a fraud examiner must employ a variety of techniques, such as creating detailed timelines of the alleged fraudulent activities, analyzing financial documents to identify discrepancies or irregularities, and questioning relevant parties. Fraud examiners must also be familiar with the laws and regulations governing fraud, including criminal and civil procedure. They may need to travel and interview witnesses and victims in order to gain an understanding of the fraud and come to a conclusion about the events leading up to it. Furthermore, fraud examiners must be aware of advances in technology, in order to be able to detect and investigate digital fraud. As such, fraud examiners are a crucial part of any fraud prevention and cyber security team.
  • Fraud filtering is a fraud prevention tool used to identify, monitor and block potential fraudulent activities in digital transactions. It is designed to analyze and classify data such as IP address, shopping cart size, location, transaction frequency, payment method and other factors to recognize suspicious activities. It can also detect illegal activities such as identity theft, account takeover, money laundering, chargeback and other fraudulent activities. Fraud filters are used to prevent fraud losses by preventing the transaction from even happening or by limiting the amount of each transaction. Fraud filters are designed to be highly customizable and adjustable to specific thresholds, channels and customer profiles. They can also be configured to take automatic action to flag, block or challenge suspicious transactions. Ultimately, fraud filters help to create a secure and safe online shopping experience for customers.
  • Fraud Guidelines are general principles and rules put in place by businesses and organizations to prevent, detect, and respond to fraudulent activities. These guidelines can cover every aspect of an organization, from employees to customers, and include topics such as identity management, access control, and user authentication. Fraud guidelines are used to establish measures to reduce the risk of fraud, such as the implementation of two-factor authentication. They also help to ensure compliance with data protection regulations, such as the GDPR. Additionally, they offer guidance to stakeholders on best practices for fraud prevention across all departments and channels, as well as providing a framework for investigatory procedures in the event of a breach or incident. Fraud guidelines also ensure that appropriate risk profiling and monitoring processes are in place, enabling rapid response to any suspicious activity.
  • Fraud jobs are positions within organizations, such as a bank, that specialize in spotting, preventing and investigating all types of fraud. Typical fraud jobs can involve countering financial, identity and data fraud, both within and outside the organization, as well as investigating suspicious activities, analyzing and assessing risks associated with certain activities and creating strategies to protect an organization's assets. Fraud job duties can include gathering information, creating reports and tracking down fraudulent accounts and transactions. Other responsibilities can include developing and administering fraud prevention policies and procedures, educating stakeholders on fraud trends, testing fraud detection systems and working with law enforcement and other organizations to help recover lost funds. Fraud jobs can play a pivotal role in helping organizations and consumers stay safe.
  • Fraud lawyers are specialized attorneys that specialize in the field of dealing with fraud cases. They work to uncover evidence of fraud or financial misconduct working with local, state and federal law enforcement agencies. Fraud lawyers have expertise in analyzing financial documentation, electronic records and other physical evidence in order to identify any discrepancies or criminal behavior. They also utilize their knowledge of the laws and statutes related to fraud to advise clients who may have been wronged or victimized by organizations. Fraud attorneys also provide advice and recommendations to businesses or individuals in order to protect them from fraud and future fraud attempts.
  • Fraud managed services refer to the outsourcing of fraud prevention and cyber security operations to a specialized business service provider. The managed service provider typically offers a range of services such as risk assessment and audit, alert monitoring, anomaly detection, investigation, and response. It is similar to an insurance provider, where the provider helps to manage risk, protect customer information, and reduce the organization's overall exposure to fraud and cyber-attacks. With managed services, organizations can quickly onboard external experts to actively monitor fraud and cyber threats and improve their response times. This makes it easier for organizations to stay best-in-class with their security measures, as the managed service provider can take the lead on implementing the latest cyber security protocols.
  • Fraud monitoring is a critical component of a fraud prevention strategy. It is the process of identifying, analyzing and responding to suspicious activities or patterns that may indicate fraudulent activity. This may occur with transactions, accounts, or systems. Fraud monitoring may include using indicators such as identity verification, transaction monitoring, suspicious activity reports, and pattern recognition to detect suspicious behavior or activities. It is an ever-evolving process that requires regular updates and maintenance in order to ensure its effectiveness. It is also important to have clear communication and communication channels with relevant stakeholders. This can help ensure that all parties are aware of potential risks and can take necessary steps to protect their interests.
  • Fraud prevention is the set of measures taken to protect individuals, organizations and businesses against fraudulent activities. These activities may include identity theft, stolen data or funds, and other malicious activities. Most fraud prevention techniques involve establishing strong communication channels to be able to identify and prevent potentially fraudulent activities. This may include reducing risk to vulnerable information and data, as well as developing fraud detection technologies and protocols. Additional measures may also be taken to protect customers, such as enforcing clear policies, increased use of encryption, and monitoring of existing accounts. Ultimately, fraud prevention strategies are designed to keep financial information and accounts secure, while also preventing financial loss.
  • Fraud prevention software is a type of program designed to protect business networks, computers and systems from becoming victims of online scams, identity theft and other malicious activities. It is used to detect and prevent fraudulent activities by continuously monitoring key data points, such as account changes, incoming/outgoing payment transactions, changes in customer demographics and other suspicious activities. Fraud prevention software helps keep organizations secure by using machine learning, artificial intelligence and predictive analytics to analyze past and current activities, providing insights to recognize potential fraudulent activities, alerting personnel and automating the response to pre-determined actions in the event of a threat. In addition, this type of software may also be used to improve the efficiency of the organization by identifying, creating and alerting personnel to potential areas of risk or inefficient processes.
  • A Fraud Prevention Specialist is a professional who is responsible for the identification, investigation, and prevention of fraud. Their job includes reviewing potential areas for fraudulent activities, researching new and existing fraud policies and procedures, and identifying areas where changes are needed. They also audit existing systems and plans, as well as investigating any incidents of fraud to determine the best way to mitigate its effects. Additionally, they work closely with other departments to ensure that procedures are followed properly and to stay ahead of any potential risk. Further, they can provide education and awareness around the issue of fraud and their importance in the workplace.
  • A fraud response plan is a set of procedures and protocols that an organization implements to manage the risks and potential losses associated with fraud. It should identify the roles and responsibilities of all affected stakeholders, as well as details of how incidents will be reported, investigated, and managed, including how any losses will be dealt with. Fraud response plans also cover prevention strategies, such as the proper use of technology, data analytics, and monitoring systems. Additionally, fraud response plans should have detailed protocols on communicating to customers or other affected parties if and when a security breach is detected. The plans should also include post-incident reviews to understand what went wrong and apply lessons learned to improve procedures in the future.
  • A fraud ring is a group of individuals working together with the purpose of committing fraud. It involves members who interact with each other to share the resources and capacity to carry out fraudulent activities. It could include participating in identity theft, money laundering, financial scams, cybercrime or other illegal activities. These fraud rings use a variety of schemes to commit fraud and manipulate people's finances. They commonly employ tactics such as phishing, social engineering, spoofing, hacking, malware, and insider information to target unsuspecting victims. Fraud rings may also have personnel on the inside who can use their access to confidential information of individuals or companies to their advantage. It is important to keep informed of security trends and constantly watch for suspicious activity when trying to prevent fraud rings.
  • A Fraud Risk Assessment is an analysis of potential risks associated with fraud and the development of strategies to identify and prevent it. It seeks to identify factors that might increase the organization's vulnerability to fraud and to take appropriate protective measures. As part of a risk-based approach to fraud prevention, it includes an evaluation of internal control systems, the identification of fraud risks, the prioritization of risks, and the development of control strategies for dealing with those risks. Additionally, it involves the development of strategies and processes designed to detect and respond to red flags of fraudulent activity. It is an important part of any organization's overall ability to protect itself from fraud.
  • Fraud risk profile consists of the combination of elements which together represent the level of risk posed to an organization or prescribed system. These can include external factors such as existing threats and hazards in the threat landscape, as well as internal factors such as existing control measures, proven fraud detection systems and data analytics. Fraud risk profiles provide organizations with a clear view of the type and scale of the risks posed to their operations and the best action to take in order to combat these threats. The profiling exercise should cover the history of frauds targeted at the organization in order to gain an insight into how criminals operate and how best to protect against them.
  • Fraud schemes refer to deliberate attempts to deceive or manipulate another person or organization in order to gain illicit financial or other advantages. These schemes are often organized and systematized, typically employing a combination of technology, data manipulation, and psychological manipulation in order to achieve the desired results. Common schemes targeted against individuals include phishing, identity theft, and work-from-home scams, while business-targeted schemes often include cybersecurity attacks and card skimming. Regardless of who is targeted, the end goal of fraud schemes is to deceive or manipulate a person or organization and secure some advantage—usually financial—that the perpetrator would not otherwise be able to obtain.
  • Fraud Score is a numerical value which is used to measure the likelihood of customers being involved in a fraudulent activity. This score is usually determined by combining various data points and metrics such as previous purchase history, IP address, shipping and billing address, email address and other factors. The scoring ranges from 1 to 100, with a higher number indicating a higher risk of fraud. Banks and other financial institutions will often use Fraud Score to determine whether or not to process or approve a customer's transaction. It enables them to identify and prevent incidents of fraudulent activity, as well as to protect their business against financial losses.
  • Fraud screening, also known as fraud prevention, is a process of assessing customer information to detect a potential fraud, such as credit card fraud, identity theft, and other fraudulent activities. This process typically includes a series of checks — from reviewing databases to real-time analytics — to uncover discrepancies between customer data and to recognize suspicious behavior. Organizations often employ specialized technology and services, such as fraud scoring and behavioral profiling, to help detect and prevent fraud. Fraud screening can also involve reviewing customer documents and cross-referencing them against other sources in order to verify the validity of the data collected. While fraud prevention is critical for maintaining customer trust, it also has the potential to reduce costs associated with fraud-related damages and losses.
  • Fraud statistics refer to data collected and analyzed to identify patterns, trends and correlations in attempted or successful fraud. This data includes factors such as types of fraud, geographic location, target victims, methods used, and identifying and tracking losses. By collecting and analyzing this data, organizations can gain insight on the most prevalent fraud trends and target those specific fraud attempts more effectively. Looking at fraud statistics can also help prevent future fraud attempts by providing a better overall understanding of fraudulent activity. Such knowledge can help organizations make more informed decisions on risk management practices.
  • The Fraud Triangle is a framework used by law enforcement and fraud prevention professionals to identify, evaluate, and investgate cases of fraudulent activity. It consists of three primary points: Pressure, Opportunity, and Rationalization. Pressure is the motivation behind the fraud, generally stemming from financial need or greed. Opportunity is the practical means of committing the fraud, whether it be through an existing system or by taking advantage of lack of oversight or carelessness. Finally, Rationalization is the justification for the illegal actions, which may include new or personal interpretations of the law, a belief in enlightened self-interest, or a sense of entitlement. Together, these three points create a triangle that helps identify areas of investigation and methods of deterrence.
  • Fraud upon the court is an illegal action taken by a party in a legal matter in an attempt to deceive the court or corrupt the process of justice. It is commonly committed to achieve a favorable outcome in a court case. Fraud upon the court consists of varying forms of behavior such as forging documents, or providing false testimony or evidence. A crime of this magnitude can result in serious consequences such as jail time or fines. Thus, it is essential for those involved in any court proceedings to be honest and forthright in their legal proceedings. Otherwise, if a party is found guilty of committing fraud upon the court, they can expect severe punishment.
  • Fraudulent apps are malicious software created for the purpose of stealing a user's personal information, such as online banking credentials, Social Security numbers, and other financial data. Fraudulent apps often look very similar to legitimate software, but with malicious intent behind their design. They may be found on app stores, or sent out via phishing emails. Fraudulent apps can do anything from taking control of a user's device to sending out large amounts of spam. Such apps can be very difficult to detect, so fraud prevention and cyber security experts must remain vigilant to ensure these threats are contained.
  • Friendly fraud is a type of fraud that happens when a customer initiates an online transaction or purchase, such as from a website or digital streaming service, using their own card. After the purchase is made, they ask their bank or credit card issuer for a refund but without any valid reason. This type of fraud is commonly known as chargeback fraud, and is also known as friendly fraud because the customer may feel they are acting within their rights when they ask for the refund. Friendly fraud is a growing problem for companies that offer digital products, as consumers are becoming aware of the fact that in many cases banks will not question refund requests very carefully.
  • A front company is an entity that is used to conceal the true identity of a business owner or group. They are often used as an intermediary entity to conduct business or financial transactions without revealing the true identities of those involved. Front companies can be created to hide the source of funds, influence public opinion, or avoid taxes and compliance regulations. They are a key element of money laundering and other illegal activities, as they can make it difficult to trace the origins of the money. Front companies can also be used legally, such as to protect a company’s trade secrets or to reduce a company’s legal risk.
  • Full Duplex is a term used to describe a communication system that is capable of sending and receiving data in both directions simultaneously. It is a type of communication system that can support bi-directional communication between two or more systems at the same time. Through Full Duplex, data can be sent and received by all the systems in the communication system at the same time, making it much faster and more efficient than Half Duplex, which can only send and receive data in one direction at a time. Full Duplex is a valuable tool for Cybersecurity Experts, as it helps to ensure that communication between devices and systems is secure and properly authenticated.
  • A Fully-Qualified Domain Name (FQDN) is a domain name that is complete, including all relevant information such as the subdomain, the domain name, and the top-level domain (TLD). The FQDN is generally used to define an exact location within a domain hierarchy. For example, an FQDN may be “www.example.com”, which indicates the “www” subdomain, the “example” domain name, and the “com” top level domain. The FQDN is a powerful tool in cybersecurity because it allows a user to know exactly where they are in the domain hierarchy, thus providing a greater understanding of the potential vulnerabilities or threats that might exist at the domain or network level.
  • Fullz is a term used by fraudsters to describe all the details an identity thief needs to successfully perform an online transaction using stolen credentials. Fullz includes personal information such as full names, addresses, email addresses, phone numbers, social security numbers, birth dates, and credit card numbers. These details are often collected from security breaches or phishing scams. In some cases, identity thieves may combine stolen Fullz with other data bought or stolen from the dark web to create detailed profiles of their victims. This data is then used to perform identity theft, financial fraud, money laundering, and other criminal activities. In order to protect themselves, individuals should be aware of the term Fullz and take steps to protect their personal information.
  • Fuzzing is a technique used in software testing to detect potential weaknesses in a system or application. It involves sending malformed or unexpected data to the system to uncover errors as a result of unexposed flaws or vulnerabilities. Fuzzing is commonly used to test the security of applications by generating and sending random data to the application, testing for issues such as buffer overflows, crashes, and other system failures. It can be used to quickly scan large amounts of code to find security issues that could be exploited by malicious actors. Fuzzing is an important tool used by cybersecurity experts in the ongoing battle against cybercrime.
  • Gaming fraud is when malicious actors abuse video game systems and services for criminal activities, often with the goal of financial gain. Gaming fraud can include methods such as creating fake accounts to make in-game purchases or selling virtual items for real-world money. It can also involve stealing people's accounts through phishing techniques, such as posing as a game support representative and asking victims to provide their login credentials. Fraudsters may also create elaborate schemes to manipulate game economies by using bots or engaging in other activities to accumulate virtual items and then resell them. The impact of gaming fraud extends beyond players, with game publishers and developers also suffering significant financial losses as a result of fraudulent activities.
  • Gatekeepers are individuals or organizations responsible for ensuring compliance with anti-money laundering (AML) regulations. They may be employed by financial institutions, regulatory bodies, or other organizations actively involved in preventing money laundering activities. They are responsible for monitoring financial transactions, identifying suspicious activity, investigating red flags, and reporting suspicious activity to the appropriate authorities. Gatekeepers also need to ensure compliance with the laws, regulations and rules, and also to understand the specific risks posed by different customers and products. They also need to provide advice and guidance to customers to help them understand their AML obligations.
  • A gateway is a type of network security device that acts as an intermediary between two networks, acting as an access control point for traffic going from one network to the other. This type of security device provides security by acting as a single point of access, allowing only authorized traffic to pass in and out of the network. In addition to this, gateways also provide secure data transmission, allowing for encryption of sensitive data, making it much more difficult for malicious actors to obtain. Gateways also provide other types of security, including intrusion detection and prevention, network access control, and anti-virus protection. All of these features help to protect an organization's data and secure the network against threats.
  • Geographic Targeting Orders (GTOs) are a tool used by the Financial Crimes Enforcement Network (FinCEN) to combat money laundering and terrorist financing by imposing specific recordkeeping and reporting requirements on businesses and individuals in geographic areas that are at high risk for money laundering and other financial crimes. GTOs are a valuable tool for FinCEN to target illicit activity in a particular area, as they require banks and other financial institutions to report information such as the nature of financial transactions and the identity of the parties involved. The orders are typically issued for a specific period of time, and they allow FinCEN to better monitor financial activity in the designated areas.
  • Geographical IP Detector is a technology used to determine the geographical location of a user based on their IP Address. It can be used by organizations and individuals to detect fraudulent activities associated with users accessing their systems or website. The technology works by recognizing an IP address or language settings of a user to assign a country or region. Depending on the sophistication of the tool, the geographical IP Detector may also be able to recognize variables such as city, county, ISP, and even the ASN (Autonomous System Number) of the connecting device. This data can then be compared against existing profiles to help detect fraudulent activity when different sources report a discrepancy. Geographical IP Detector can help ensure compliance to jurisdictional laws, reduce financial costs associated with fraud, and prevent a variety of online threats such as identity theft and online scams.
  • Geolocation detection is a type of technology used to identify the physical location of a user or device. This is usually done through the internet, GPS, and other techniques. The goal of geolocation detection is to provide a layer of fraud protection by knowing the whereabouts of users and their devices. This may be used in multiple scenarios to assess the authenticity of accounts or information, block suspicious activity, and/or track online purchases. This technology works by identifying a device’s IP address and mapping it to its physical location. This information can then be compared against certain limitations such as country, region, or even city to detect any inconsistencies. Geolocation detection thus helps businesses and organizations detect and prevent fraudulent activity.
  • Ghost employees, also sometimes called “ghost workers” or “ghost members”, are fraudulent employees, usually fictitious or loosely based on real employees, on a company’s payroll that are added to the company’s system without any prior identification or appropriate authorization. They “live” in the payroll system, receiving a salary “phantom” salary without ever showing up to work. Ghost employees can be used to leech money from a company, conceal kickbacks, and receive government benefits such as unemployment insurance, social security and pension funds. Detecting ghost employees requires significant investigative skills and robust fraud prevention mechanisms, including comprehensive identity verification processes, detailed inspection of payroll records, and regular background checks.
  • A ghost terminal is a computer system that is not connected to any other computer on the same network, or to the Internet. The term is used in fraud prevention and cyber security to refer to a system that is operating as if it were connected to another system. This is done in order to monitor the activities of the other system without the other system's knowledge. A ghost terminal can be used to monitor suspicious activities on a network or computer, or to test new features without risking the security of the system. Ghost terminals can also be used to conduct malware analysis, by running a malicious file without infecting the main system. Such a terminal is often referred to as a 'honeypot' as well.
  • A gift card scammer number is a phone number used by scammers to impersonate official customer support services. The number is typically used to contact victims and lure them into providing personal details or payment card information. The scammer may also attempt to manipulate the victim into activating a gift card or purchasing e-commerce gift cards. The caller may also promise free items or services to encourage victims to provide the gift card number. The scammer may also offer a "special deal" in an effort to get victims to purchase a certain gift card. In many cases, these numbers are anonymous and untraceable, making it difficult for victims to seek recourse after the scam takes place.
  • Global Address Verification (GAV) Directories are databases that provide accurate international address validation in order to combat fraud and prevent cybercrime. These databases are composed of up-to-date data sets from numerous sources and private and public organizations, including postal service addresses, companies, and research laboratories. The data sets contain postal codes, names, street addresses, phone numbers, and email accounts. The GAV directories are used to verify the identity of customers, especially those outside the country, to ensure that they can be trusted. Additionally, they provide access to real-time address analytics and information that helps to detect unusual behaviour and evaluate risk. Thus, GAV Directories are essential tools in fraud prevention measures in the global digital economy.
  • The Global Program against Money Laundering (GPML) is a global effort coordinated by the Financial Action Task Force (FATF), an inter-governmental body whose mission is to ensure that countries around the world have and maintain effective anti-money laundering (AML) measures. The GPML is structured around a set of FATF Recommendations, which lay out the legal, regulatory and operational measures that countries should take to combat money laundering, terrorist financing, and the financing of proliferation of weapons of mass destruction. GPML focuses on two distinct but complementary objectives: (1) helping countries to implement the FATF Recommendations, and (2) gathering, analyzing, and disseminating information on money laundering trends and techniques. Through this program, countries are able to assess their AML/CFT measures, improve their AML/CFT legal and regulatory frameworks, and better prevent, detect, and prosecute money laundering and terrorist financing.
  • GNU/Linux is a free, open source operating system. It is a type of software that allows a computer to operate and manage other applications. It is composed of two parts: the GNU, which is the abbreviation for "GNU's Not Unix", and the Linux which is the Linux kernel. The GNU provides the tools for users to control the computer, such as compiling and managing programs, while the Linux kernel provides the base, the core of the operating system, and helps the computer understand the instructions and applications. Together, the GNU and Linux work together to provide the user with an environment to work with. It is a reliable and powerful operating system, and is popular among users who value freedom and control over their software and hardware.
  • Gnutella is a decentralized peer-to-peer file-sharing network that operates without any centralized server or controlling system. It is heavily used in sharing files such as music, movies, games, software, and other digital media. The Gnutella protocol allows for both search and exchange of files and utilizes a distributed search model to locate files within the network. The protocol does not allow for any form of moderation or control, allowing functionality without restriction or censorship. As a result, users must take extra measures to ensure the safety and validity of their source, as malicious actors may target users’ systems to spread malware, viruses, and other malicious software.
  • Governance, Risk and Compliance, or GRC, is the term used to refer to the integrated process, strategy and associated tools used to manage an organization's risk profile and ensure responsible and effective governance processes. GRC includes the processes and activities associated with identifying, analyzing, monitoring and managing risk, as well as conforming to applicable laws, policies and regulations. GRC also involves the use of an organizational structure that combines the roles of risk management, compliance, audit and legal teams to ensure a cohesive strategy for risk management and compliance. GRC is an important part of an organization's overall strategy for managing risk and achieving regulatory compliance.
  • Government or State Owned Body (GSB) is a type of organization that is owned, operated and managed by a government or a state. GSBs can provide services in a variety of sectors such as finance, transportation, energy, and health care, and can be public, private, or a hybrid of both. GSBs typically have a unique legal framework that allows them to operate with a degree of autonomy separate from the government or state. In terms of anti-money laundering, GSBs must be compliant with the regulations of their respective countries, as well as international standards, in order to prevent illicit money laundering activity.
  • GPS spoofing is a form of cyber attack where a perpetrator transmits false GPS signals to a device receiving GPS signals in order to interfere with its navigation or location capabilities. Attackers can easily generate GPS signals that are identical to legitimate transmissions, but supply the device with false location data. This can be done by broadcasting radio signals imitating those of a legitimate satellite. Upon receiving the false GPS signals, the device is tricked and believes the fake locations, rather than its real coordinates. This can potentially be used to disrupt GPS-reliant services, such as autonomous car navigation or drone flight, which can be disastrous and have catastrophic results if taken advantage of by malicious actors.
  • The Grandparent Scam is an advanced fee fraud tactic whereby fraudsters pose as an elderly grandparent or another relative, claiming to be in need of urgent financial assistance. The fraudster will typically contact the victim pretending to be in a desperate situation, such as being detained in a foreign country, stranded in an airport, or arrested while travelling. The fraudster will ask the victim to wire money to them in order to solve the issue. In some cases they may even use personal details they have acquired online to make the request more believable. Victims should always have some way of verifying the identity of the caller before sending any financial assistance.
  • A grantor is an individual (or entity) who provides, transfers, or conveys property or other assets to another person or entity, usually in the form of a trust. The grantor is responsible for creating the trust, specifying the terms of the trust, and transferring assets from the grantor to the trust. Anti-Money Laundering (AML) experts must be aware of the grantor's identity and source of the transferred assets in order to ensure that the terms of the trust are met and to prevent the use of trusts for illicit purposes. Additionally, AML experts must ensure that the grantor is not engaging in any suspicious activity that could potentially involve money laundering.
  • A grey list is a list of entities or countries that are seen to be non-compliant with anti-money laundering standards, yet are not considered to be high risk. Grey listed entities have some standards or principles that need to be met in order to be removed from the list. They are subject to further monitoring and scrutiny from financial institutions and enforcement authorities to ensure that their activities and facilities are not being used for money laundering or terrorism financing. The Financial Action Task Force (FATF) is a worldwide organization that helps countries create and monitor their anti-money laundering policies, and also identifies and reviews countries on the grey list. Being on the grey list can have significant financial impacts, including increased scrutiny from regulators, compliance costs, and reduced access to financial services.
  • Groupe d'Action contre le blanchiment d'Argent en Afrique Centrale (GABAC) is a multi-national organisation created in 2005 to coordinate anti-money laundering efforts in Central Africa. The body works to combat money laundering in the region by monitoring and supervising financial institutions, establishing international standards and sharing information on laundering activities. GABAC also assists with the implementation of anti-money laundering legislation in the region. In addition, GABAC offers training and technical assistance to member states to ensure they are able to comply with international standards. The group's efforts are intended to protect the region's financial systems and to promote its stability and integrity.
  • Grupo de Acción Financiera de Latinoamérica (GAFILAT) is a regional body established to combat money laundering and the financing of terrorism in Latin America and the Caribbean. It works to promote and coordinate regional efforts in the fight against these serious crimes, as well as to promote regional cooperation and exchange of information in order to protect the integrity of the financial system. GAFILAT develops and disseminates legislation, provides technical assistance, organizes workshops and seminars, and works with the private and public sector to strengthen its anti-money laundering/counter terrorist financing framework.
  • The Gulf Cooperation Council (GCC) is an intergovernmental political and economic alliance of six Middle Eastern countries: Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman. The primary objectives of the GCC are to create unity among the member countries, promote economic, security, and military cooperation, and coordinate foreign and security policies. The GCC has established a common market with a unified customs system, and has also set up a common currency called the GCC Shekel. Additionally, the GCC provides support and assistance in areas such as trade, investment, health, education, labor, and security. In recent years, the GCC has increased its focus on combating money laundering, terrorist financing and other financial crimes. Consequently, it has become an important partner in the global fight against financial crime.
  • Hacker is a term used to describe someone who utilizes their technical knowledge and skills to exploit computer systems, networks, and applications. They are usually motivated by malicious intent and look to gain access to systems, steal data, disrupt services, and gain unauthorized privileges. Hackers employ a wide range of techniques, including exploiting vulnerabilities in system configurations, coding errors, and software design flaws. They are also adept at finding weak passwords, disguising their identity, and using social engineering techniques to gain access to sensitive data. The Cybersecurity Expert is the expert tasked with identifying, analyzing, and mitigating these threats to keep systems secure.
  • A hacker, or black hat, is an individual who illicitly gains access to computer systems or networks without permission from the owners. These hackers are motivated by personal gain, sabotage, and/or espionage. They typically use malicious software, viruses, and other malicious tools to breach the security of a computer system or network. Hackers disrupt networks and steal sensitive corporate data, personal data, and intellectual property such as software, music, and videos. In addition, they use stolen data to extort money through ransomware, launch distributed denial of service attacks (DDoS attacks), or commit financial fraud. It is critical that organizations take appropriate measures to protect their systems and networks from attack while remaining vigilant of hackers and their activities.
  • A White Hat Hacker is an ethical hacker who uses their hacking knowledge for the purpose of identifying potential security vulnerabilities in a computer system, network or software, and providing security solutions that will help protect against malicious attacks and unauthorized access. These hackers are hired professionals, usually employed by organizations or governments, who use hacking tools to evaluate the security of systems and networks to identify weaknesses and potential threats. They provide protection from malicious actors, helping organizations prevent and resolve data breaches and other cyber-attacks. By using their deep knowledge of security protocols and tools, white hat hackers help protect data and provide invaluable insights for organizations and governments.
  • Hacking is an activity wherein malicious actors gain unauthorized access to a computer system, network, software application, or other digital item. This is done by exploiting security vulnerabilities or using social engineering techniques to obtain confidential and sensitive information from a victim. The objective of hacking is to gain illicit access to sensitive data and/or disrupt normal operations. Depending on the intent and skill of the hacker, the activity may range from relatively harmless tinkering and exploration to malicious activities such as identity theft, data destruction, and financial fraud. Protecting systems from hackers is a key component of cybersecurity and requires a multi-faceted approach to mitigate risks.
  • Hacktivism is a form of activism carried out by a group of individuals or hackers to achieve an ideological, political or social goal through the use of computer systems and networks. Hacktivism involves the use of illegal and legal hacking techniques, such as website defacement, DDoS (Distributed Denial of Service) attacks, social engineering, and various forms of online and network manipulation. Groups of hacktivists often use the same tactics and techniques used by cybercriminals to conduct their activities, and often have an online presence in the form of online forums, websites and social media accounts. While hacktivism is typically associated with illegal activities, it is important to note that it may also be used in a more ethical and legal manner, such as in the prevention of cybercrime or the protection of civil liberties.
  • A hash function is a mathematical algorithm used in computer security to convert plaintext passwords into a fixed-length, string of characters known as a hash. Hash functions are designed to ensure that when a user enters their password, the hash generated from the plaintext password is always the same for that user. This ensures that passwords cannot be easily guessed or cracked, as the hash does not reveal the original text or allow for easy comparison to a dictionary of commonly used passwords. Hashes are also used to verify the integrity of a file during a download; if the resultant hash does not match the original, it's likely the file has been tampered with.
  • Hawala is an informal, trust-based system of transferring money without the use of an intermediary financial institution. It is a centuries-old system of transferring money by which money is transferred from one person to another person, usually in a different location, through a network of brokers. The amount of money being transferred is not actually exchanged, but instead is transferred through an agreement between the two parties. The system is mostly used in Middle Eastern, African, and Asian countries, and is most commonly used for sending remittances from one country to another. It is illegal in many countries, as it can be used to facilitate money laundering, terror financing, and other illicit activities. Anti-Money Laundering Experts are well-versed in identifying suspicious transactions and financial patterns associated with Hawala and other informal money transfers.
  • Hawalada is a traditional Islamic system of financial transactions that is used in parts of the Middle East and South Asia. It is an informal money-transfer system based on trust and is not subject to traditional banking regulations or anti-money laundering laws. Hawala involves transferring money through a network of hawala brokers (or hawaladars) who accept deposits and then transfer funds to a corresponding broker in another location. Funds are transferred without the use of conventional banking or financial institutions, thus bypassing traditional money-laundering laws. The hawala broker takes commission for the service, and payment is made at the end of the transaction. Typically, hawala is used to transfer funds overseas, and to send money back home to family and friends who do not have access to conventional banking services.
  • Healthcare fraud is a type of economic crime in which someone knowingly tries to illegally obtain money, property or services from a healthcare provider, health plan, or government insurance program. It can take many forms, such as providing false information on insurance claims, billing for services not provided, submitting multiple claims for the same service, providing unnecessary services, or billing for a more expensive service than was provided. Healthcare fraud can result in higher costs for insurers, taxes and the public and fewer resources for those who really need healthcare. It is important to be vigilant and report any suspected cases of fraud to the appropriate law enforcement or regulatory agencies.
  • High Net Worth Individuals (HNWI) are individuals or households with a net worth of at least one million US dollars. This net worth excludes the value of primary residences and any collectible items, such as art or antiques. HNWI's are categorized by the global financial community as those who have significant value to invest, and are typically viewed as the most desirable clients for financial institutions and private banking services. As an Anti-Money Laundering Expert, it is important to properly assess the risk of each potential HNWI when dealing with them, as they are more likely to be exposed to financial fraud and corruption.
  • High-Risk Industry refers to businesses that are vulnerable to fraud and other cyber crimes due to the type of user activity and industry regulations. Examples of high-risk industries include online gaming, online gambling, online retail, financial services, and cryptocurrency. As technology advances and new opportunities for financial fraud and other malicious activities become available, organizations in high-risk industries must increase their security measures in order to protect their users and customers from potential attacks. This includes implementing additional authentication procedures, creating effective monitoring solutions, and educating users on safe online practices. By doing so, businesses in high-risk industries can protect themselves from potential attackers and increase their chances of preventing fraud.
  • A Hijack attack is a form of cyber attack where malicious actors take control of a user's web-based session, connection, or application, without their knowledge or consent. This type of attack is made possible by exploiting weaknesses in the security protocols of an application, web session, or network connection in order to gain unauthorized access and control. This allows the attacker to gain access to the data and confidential information that a user would normally have access to, as well as control various features of the user's environment, such as the ability to delete, modify, or copy data. Hijack attacks can lead to significant data loss and theft, as well as a loss of trust among users and customers. As such, organizations should take steps to ensure that their systems are sufficiently secured from this type of cyber attack.
  • A Honeymonkey is a type of cybersecurity monitoring tool utilized to detect malicious software, websites, and activities. It works by repeatedly sending simulated web browsers and other similar tools out onto the internet, visiting websites and following links. The automated tool identifies patterns of malicious or suspicious network activity, such as drive-by downloads, or the presence of malicious code. It also collects data about the websites it visits for further analysis. The Honeymonkey tool can detect malicious activity rapidly so that the appropriate security measures can be implemented to prevent further security threats.
  • A honeypot is a computer system set up to look like a legitimate target for hackers. However, its purpose is to detect and deflect malicious activities by luring them away from real systems. It can be used to monitor and analyze hacker activities, such as malicious code, malicious intrusion attempts, and stolen resources used by an attacker. It can also be used to understand the intentions and methods of malicious actors so that they can be prevented from attacking other systems. Generally speaking, a honeypot system consists of a set of publicly accessible systems that contain non-sensitive simulated data and is set up using deceptive techniques to provide a false sense of security.In addition to its use in cybersecurity and fraud prevention, honeypots are also used for research purposes, such as the analysis of various security issues. By studying the behavior of malicious actors, it presents opportunities to understand the nature of today’s threats as well as to develop(...)
  • Honeywords are decoy words or pseudo-passwords that are used as part of a security system to protect user accounts and credentials. Honeywords are generated by algorithms that add random characters to a real password, making it hard for attackers to guess the original one. They are stored separately from the real password in a database and can be used to detect attack attempts. Honeywords can also be used to detect fraudulent login attempts, as they are often generated in large numbers, meaning attackers are more likely to guess a decoy instead of the real password. Honeywords are a powerful defense against malicious attacks and fraudulent activities.
  • A Host-Based Intrusion Detection System (HIDS) is a network security technology designed to detect attempted or successful unauthorized access to, or manipulation of, computer systems by monitoring and analyzing events on the host component. It typically reviews the host's logs and system files, as well as any specific applications and processes running on the system, to identify indications of malicious activity. HIDS also provides protection against malicious activity originating from legitimately running processes. It can be used to alert administrators to potentially malicious or suspicious system activity and generate reports that can be used to perform investigatory activities. The primary advantage of a HIDS is that it is capable of providing a comprehensive overview of system activity and can detect malicious activity often earlier than other detection technologies.
  • HTTP Proxy is a type of internet-based service which acts as an intermediary between a user's computer and the internet. It enables a user to redirect web-based requests from a local computer or network to another computer or network, usually through a predefined set of rules or policies. The HTTP Proxy can also be used to filter the content that reaches a user's computer, allowing them to block potential sources of malicious content, such as malicious scripts and malicious websites. HTTP Proxies can also be used to improve the performance of an organization's network. By caching commonly accessed websites and content, they can improve the speed of access to those websites and content without burdening the user's computer.
  • HTTPS stands for Hypertext Transfer Protocol Secure. HTTPS is a secure version of HTTP, the protocol over which data is sent between a web browser and a website. HTTPS uses encryption to secure the transmitted data, ensuring that it remains private and can’t be intercepted. This makes HTTPS a more secure protocol than HTTP, and is a key element of website security. HTTPS is used by websites that require security, such as those that require a user login, those that require secure payment transactions, and those that contain sensitive data such as patient information. HTTPS also provides authentication to ensure that the user is connected to the correct website and not a malicious one.
  • A Hub-and-Spoke Network is a type of network topology where nodes are connected to a central hub. The hub acts as a central point of communication and provides a connection point for all other nodes. This type of network is well-suited for small networks with few nodes, as the central hub makes it easy to configure and manage the network. It also provides a single point of failure; if the hub fails, all other nodes become disconnected. As a result, Hub-and-Spoke Networks are less reliable than other models, such as Mesh Networks. However, they are still commonly used in LANs and WANs, where reliability is not a significant concern.
  • Human smuggling is the illegal and for-profit movement of people across international borders that typically involves deception or coercion. It typically involves the smuggling of persons from their country of origin to a destination country. The goal of human smuggling is to gain financial benefit from the smuggled individuals, often through forced labor and exploitation. Human smuggling is often linked to other organized criminal activities such as drug trafficking, human trafficking, and money laundering, and can involve the exploitation of children and other vulnerable people. Human smuggling is a global issue that requires cross-border cooperation between governments to prevent and combat.
  • Human trafficking is a heinous crime that violates the human rights of victims, including the right to life, liberty and security of person. It involves the recruitment, transportation, transfer, harbouring or receipt of persons by means of threat, force, coercion, abduction, fraud, deception, abuse of power or position of vulnerability, economic exploitation, taking advantage of the vulnerability of a person, or the giving or receiving of payments or benefits to achieve the consent of a person having control over another person. Human trafficking can take the form of forced labour, sexual exploitation, domestic servitude and the exploitation of children. The International Labour Organization (ILO) estimates that there are 20.9 million victims of human trafficking globally.
  • A hybrid attack is a type of cyber attack that combines two or more different types of threats and techniques in order to increase the effectiveness of an attack. This type of attack is very difficult to defend against due to the combination of known vulnerabilities, each of which are usually managed separately. Attackers will use a combination of different attack vectors to gain access to a system and exploit vulnerabilities that may not be noticed if the attack was only one type, such as a denial of service attack. An example of a hybrid attack could be combining a phishing attack with a malware attack in order to gain access to sensitive information or applications that are not normally allowed access to. Hybrid attacks are becoming more common due to the increased complexity of cyber threats.
  • Hybrid encryption is a type of encryption that combines two encryption methods for greater security. It involves the usage of both symmetric and asymmetric encryption, which entails the use of different keys for encryption and decryption. Symmetric encryption uses the same key for both encryption and decryption whereas asymmetric encryption uses two different keys. In hybrid encryption, a random session key is used to encrypt the data thus providing the benefits of both symmetric and asymmetric encryption. The symmetric session key is then encrypted using the public key of the recipient and sent with the ciphertext thus providing confidentiality and integrity of the data. The recipient then decrypts the session key using its private key and then the same session key is used to decrypt the ciphertext. This approach provides better security as the recipient data can only be accessed by the owner of the private key and by nobody else making it more secure than using a single(...)
  • A hyperlink is an element in a digital document or web page that allows the user to click on it and be taken to another page or section of the same page. It can be used to direct the user to a different website or document altogether, or it can link to different sections of the same web page or digital document. Hyperlinks are commonly used on websites and in emails. They allow users to quickly and easily navigate to different parts of the website or document, or to other websites or documents. Hyperlinks are often represented by an image, text, or a combination of both, and can be used to quickly and easily transfer information from one location to another.
  • Hypertext Markup Language (HTML) is a markup language used to create webpages and web applications. It consists of tags and keywords surrounded by angle brackets (< and >) that determine webpage layout and format, as well as content. HTML is the language used to create webpages and applications that can be accessed from the Internet. HTML is made up of elements, such as text, images, videos, and links, that work together to form a structured document which is then rendered by a web browser. HTML is used to create documents that display information and interact with users. It is relatively easy to learn and can be used to create powerful websites and applications.
  • Hypertext Transfer Protocol (HTTP) is a stateless application-level protocol used for transferring data over the World Wide Web. It is used to transfer hypertext documents, such as HTML pages and other files, over the Internet. HTTP is a request-response protocol, meaning that a client (such as a web browser) sends a request to a server, which in response sends back a response message. The main feature of HTTP is the ability to connect to web resources (server directories, web pages, images, etc.) using a Uniform Resource Identifier (URI). HTTP supports methods such as GET, POST and HEAD, which can be used to request resources from the server, and to transmit data to it. Moreover, HTTP is secure, as it utilizes Transport Layer Security (TLS) to provide encryption for data transmissions. HTTP is widely used for transferring sensitive data and its widespread implementation ensures a reliable and secure communication.
  • Identification and Verification (ID&V) is the process of verifying the identity of an individual or organization for the purpose of preventing money laundering and other financial crime. It involves collecting information from the customer and confirming it with a reliable source, such as an official government document. The information collected must be sufficient to establish the customer’s identity and to verify the accuracy of any information provided. ID&V is a critical factor in mitigating financial crime risk, as it allows firms to know who they are dealing with and to take necessary steps to verify customers’ identities.
  • Identifier Search is an Anti-Money Laundering (AML) tool that helps identify suspicious transactions. It is used to search and identify customers and financial entities by using different identifiers, such as name, address, phone number, or email. This helps financial institutions meet their AML compliance requirements by helping to detect and prevent potential financial crimes. The Identifier Search tool allows financial institutions to quickly search for customers and entities by using the available identifiers. This allows financial institutions to quickly identify suspicious activity and take the necessary measures to prevent and report it.
  • Identity and Access Management (IAM) is a system of processes, policies, and technologies used to manage digital identities and their access to an organization’s resources. It includes processes for identifying, authenticating, authorizing, and auditing all users’ access to systems and data. IAM also enables a secure, automated and efficient way of granting, changing, and revoking user access to systems and data based on organizational needs. IAM ensures that only authenticated and authorized users are granted access, and provides visibility and control into who is accessing what data or systems and when. It is a critical component of an organization's security framework and is used to protect the integrity of its resources.
  • Identity and Access Management (IAM) is an important component of an organization's cybersecurity strategy. IAM includes the processes and technologies that enable organizations to manage and control user access to the network, systems, data and applications. This includes securely authenticating the identity of users and granting them the appropriate levels of access. It also involves the monitoring of user activity, updating access privileges when needed, and revoking malicious or unauthorized access. Proper implementation of IAM is essential for the security of an organization since it can help to protect sensitive data and prevent data breaches.
  • Identity cloning is a type of digital identity theft, which involves the malicious use of personal data to create a new digital identity. It is a type of cyber crime targeted at individuals, companies and organizations, who have valuable information stored on their computers or in the cloud. The criminal will obtain an individual's personal data, such as name, address, date of birth and Social Security number, and use it to create a new, false identity in the victim's name. The false identity is used to open bank accounts, apply for loans and credit cards, or gain access to sensitive information. It can also be used to facilitate more complex types of fraud, such as corporate espionage or identity theft. Identity cloning can have serious consequences for individuals and organizations, making it important for them to take steps to protect their information from cyber criminals.
  • Identity fraud is the use of false or stolen personal information to commit fraud or other crimes. It usually involves someone pretending to be someone else in order to access money, property or other assets. Identity fraud often involves the use of personal information such as names, Social Security numbers, credit card numbers, driver’s license numbers, or birth dates. Financial institutions, businesses, government agencies and individuals have been victims of identity fraud. Cybercriminals may commit online or offline identity fraud or a combination of both. Fraudsters may also assume the identity of someone else in order to access confidential information, such as bank accounts and personal data. Identity fraud can cause serious problems, including financial losses, damaged reputations, stolen identities and compromised privacy. Victims of identity fraud may also suffer from emotional distress and anxiety.
  • Identity Management is the process of managing and protecting a user's digital identity in order to ensure its security and integrity. This includes protecting against malicious actions that can compromise the user's identity, such as credential stealing, identity theft, or account impersonation. It also involves controlling access to various digital assets and services, such as cloud computing services. Identity Management is critical to ensure that any user or organization is able to safely access their digital assets and services, with only authorized individuals gaining access. This includes authentication protocols, user management, and ensuring that the user's identity is kept secure at all times.
  • Identity Provider (IdP) is a service or system that enables authentication and authorization of users. It is mainly used in Single Sign On (SSO) systems. It is responsible for verifying the identity of a user and provides access control and authentication of the users. It stores the data related to a user's identity and ensures that the user has the necessary credentials to access a given service or system. It is also responsible for authenticating user identity and providing authorization for access. IdP also helps simplify user management by providing a central place for all user related operations. It can also act as an information provider for other applications which require knowledge about the user before granting access.
  • Identity spoofing is a type of fraud and cyber attack where an attacker pretends to be another person or organization. The technique is used to gain access to financial, personal, and confidential information or to carry out malicious activities. Identity spoofing involves masking the true identity of a person or website. Attackers can create a false or duplicate account with a similar email address and company name to rapidly intercept messages or gain access to websites, networks, or resources. It is important to keep in mind that even commonly used phishing and malware tactics can involve identity spoofing. Techniques such as domain spoofing can be used to trick individuals into clicking malicious links or opening malicious attachments. Additionally, organizations need to timely update their security solutions to protect against these threats.
  • Identity theft is the practice of acquiring someone else’s personal information and using it for financial gain. It’s a type of fraud that affects millions of people every year, and can have serious financial and emotional consequences. It involves obtaining sensitive information such as Social Security numbers, credit card numbers, birth dates, driver’s license numbers, and passwords. Identity thieves use this information to open bank accounts, transfer money, open credit cards, make purchases, or even apply for a loan. To prevent identity theft, it is important to keep your information secure and to use extra caution when providing any personal data online. Additionally, create strong passwords, store them securely, and use different passwords for each online account. Regularly reviewing credit reports, regularly checking bank account activities, and setting up account alerts and notifications are also important steps to help in protecting your identity.
  • Incident Response refers to an organized approach to addressing and managing potential security incidents. It involves a structured sequence of activities, such as preparation, identification, containment, eradication, recovery, and lessons learned, to ensure that the incident is resolved quickly and correctly. Incident response is a key component of an organization’s security infrastructure, designed to minimize the impact of security events and limit any possible damage and disruption caused. An incident response team should have the necessary technical capability and knowledge to respond quickly to security incidents and identify the root cause in order to develop effective solutions. Regular training and testing are essential to ensure that incident response team members are familiar with procedures and any tools/resources available.
  • Incident Handling is the process of responding to, documenting and diagnosing security incidents that have occurred. It is a structured process that includes identification, containment, eradication and eradicating measures, and recovery. It is an important element of a comprehensive security strategy and is designed to minimize damage, limit the exposure of information and maintain service and performance levels. The process ensures that appropriate steps are taken to protect the network, and to restore operations as quickly as possible. This helps maintain compliance and protects the organization's data, image and reputation.
  • Incident response is the process of responding to and managing the aftermath of a security breach or cyber-attack. This includes containing and eliminating the attack, collecting evidence, analyzing the incident data, and restoring normal operations. During the response, the affected systems and networks are monitored to ensure the incident has been completely mitigated and that any new threats are quickly identified and handled. To ensure the most efficient response, incident response plans must be created in advance to outline steps for system administrators and security teams to take. These plans should also include necessary procedures such as notification of stakeholders, post-incident analysis, and product or service support.
  • An Incident Response Plan (IRP) is a document that outlines an organization’s strategy for responding to cyber security incidents. It covers key stakeholders and decision-makers, identifies the resources available to respond to incidents, and defines processes and procedures that should be followed in the event of an incident. An IRP should also include information on how to identify, assess, respond to, and recover from incidents. It should outline the roles and responsibilities of each team member involved in the incident response process and provide guidance on the appropriate measures that should be taken. Additionally, an IRP should be regularly reviewed and updated to ensure that the team is fully prepared and capable of responding to any incident in an efficient and effective manner.
  • Indicators of Compromise (IOCs) are observed pieces of evidence indicating that a system or network has been compromised. IOCs can manifest themselves as malicious artifacts on a system such as malware, modified files, or suspicious configuration changes. IOCs can also be observed in network traffic, malicious IP addresses, and malicious behaviors. IOCs are useful for identifying ongoing malicious activity and can be used to pinpoint the source of the attack. They can also be used for identifying potential threats and for containing or remediating a potential breach. IOCs are critical for any cybersecurity professional to have a comprehensive picture of the attack and to ensure that the organization is protected from further cyber threats.
  • Inequalities List is a term used to describe a set of documents which highlight potential areas of risk by identifying the gaps between rules and actual practice. The purpose of the list is to help Anti-Money Laundering (AML) experts identify areas which may be prone to money laundering activities. For example, the list might identify differences between what the law requires and what is seen in practice as far as customer information or record keeping. The Inequalities List also serves to highlight areas which may require further investigation by AML experts in order to ensure compliance with regulations.
  • An inference attack is an attack vector used by a malicious actor to gain information about a system or organization using assumptions, deductions and other forms of data analysis. This type of attack typically involves gathering and analyzing publicly available data to infer sensitive information such as user activities, system behaviors, and network topology. This is a much more subtle form of attack than brute force attacks or social engineering as the attacker is essentially gathering intelligence from open sources. Inference attacks can be conducted in various ways, such as analyzing log files, correlating malicious activities, or performing traffic analysis. This type of attack is usually done remotely, making it difficult for organizations to detect, monitor and prevent.
  • Informal Value Transfer System (IVTS) refers to an underground economy which facilitates the transfer of value without the use of traditional financial instruments. IVTS is a complex network of informal networks, agents and brokers that facilitate the exchange of goods and services for money. This system is used mainly to transfer funds from one individual to another with the intent to avoid detection by authorities and to avoid paying taxes. It is estimated that more than $2 trillion dollars is laundered through IVTS each year. An Anti-Money Laundering Expert must be aware of this system and its implications in order to prevent its use for money laundering activity.
  • Information Rights Management (IRM) is a set of security measures used to protect digitally stored information. It can be used for both physical and digital documents. IRM is used to control what types of activities users can do with documents, such as viewing, printing, copying, editing, and deleting. It also helps to secure confidential data and prevent unauthorized access. IRM allows users to specify restrictions and access rights on specific documents and also enables tracking and auditing. This ensures that the information is being accessed by the right people and all activities are being monitored. As a Cybersecurity Expert, it is important to understand the implications of IRM. By implementing IRM, organizations can effectively protect their digital assets and minimize their security risk.
  • An Information Security Policy is a document that outlines an organisations strategies and guidelines for safeguarding the security of its electronic information. It should identify all elements of the organisation's information security process, including the objectives, responsibilities, roles and relationships, procedures, practices and standards. The policy should also include details on how to handle risks and threats, what measures are in place to prevent data loss and protect personal information, and how the organisation will deal with any breach of security. The policy should be regularly reviewed and updated when necessary. It is important that all staff are aware of, and understand, the organisation's Information Security Policy.
  • Information Warfare is the use of technologies and systems to disrupt, deny, degrade, or destroy the data, systems, and networks of an adversary. It is a strategic capability used to gain a competitive advantage, inflict harm, or gain access to confidential information. It encompasses the use of techniques such as malware, distributed denial of service attacks, phishing, and data manipulation to disable an adversary's systems and networks, as well as social engineering techniques to manipulate the behavior of an adversary's personnel. It is a type of warfare that can be waged using any means available, with the aim of compromising the critical systems, networks, and data of an opponent.
  • Infrastructure-as-a-Service (IaaS) is a form of cloud computing that provides virtualized computing infrastructure as a service to users. The service allows customers to access virtualized computing infrastructure—including servers, storage, networks, and operating systems—on an as-needed basis. IaaS enables organizations to access and scale the resources that their IT infrastructure requires, without having to own and manage the underlying physical hardware and software. This allows users to quickly and easily access the computational power, storage, and networking resources necessary to support digital applications and services, without incurring the costs associated with purchasing, configuring and managing physical servers and storage solutions.
  • Ingress filtering is a cybersecurity technique used to prevent unauthorized access into an information system. It works by analyzing data packets that try to enter a network or a specific host, such as a workstation, and is based on a predetermined set of criteria. Common criteria used in ingress filtering involve source and destination addresses, port numbers, and the protocol used. Ingress filtering is used to block traffic that originates from outside of the network and can help to protect from malicious attacks from external networks. It is an important piece of security used to protect an information system from outside threats and is often combined with egress filtering for added protection.
  • Inherent risk is the risk that a money laundering activity will occur due to the characteristics of an organization or institution. This includes risks associated with the size, complexity, and business activities of an organization, as well as the internal processes and controls it has in place. Inherent risk also includes external factors, such as the types of customers an organization deals with, its geographic location, and its compliance history. Anti-Money Laundering Experts must assess the inherent risk posed by an organization in order to create a tailored risk assessment and compliance program. This ensures that the organization has an effective system in place to detect, prevent, and report any possible money laundering activities.
  • Input Validation Attacks are a type of attack that involves attackers attempting to maliciously modify an application’s input to gain access to secure data or execute commands. It utilizes various attack patterns to compromise the input security controls in order to bypass the data validation process. These attacks take many forms, from exploiting weak data validation rules to manipulating application logic. In certain cases, attackers may even exploit vulnerabilities in the database system itself to gain unauthorized access. By utilizing input validation techniques, organizations can create an effective defense against such attacks. Proper implementation of secure coding guidelines, such as correctly filtering user input and input scrubbing, can also help reduce the risk of a successful attack.
  • Insider threat is an attack on an organization from within. It typically refers to malicious behavior from employees, contractors, vendors, or other internal people that are given access to sensitive organizational resources. Examples of insider threats include Theft of data, Sabotage, Phishing, unauthorized modification of computer systems, unauthorized disclosure of confidential information, fraud and embezzlement. Insider threat is a significant concern for organizations, as the resources that are allowed access to sensitive data are usually trusted, making it difficult to detect malicious behavior. Companies can protect themselves by implementing rigorous controls and monitoring activities, as well as by providing awareness and training to its employees.
  • An Instagram scammer is an individual who takes advantage of the platform to target and deceive victims. They typically do this by sending out attractive messages, promising goods and services, or offering a special deal. They may also impersonate another Instagram user, or company, and try to convince people to part ways with personal information or money. Scammers may also use automated bots to flood users’ timelines with advertisements or malicious links. Victims of Instagram scams might be asked to click on links that could lead to personal data being stolen, or the scammer could lead the victim down a path that ends in a purchase or donation that never actually takes place. In some cases, victims are induced to share their own private images or account information to the scammer. It's important to pay close attention to who is contacting you and what they are asking you to do on Instagram, as well as to never share online passwords and personal financial information.
  • Insurance fraud is a type of criminal activity where an individual or organization makes false or exaggerated insurance claims with the intent of illegally profiting from the transaction. This type of fraud includes both false claims of damages as well as false claims of theft or loss. Insurance fraud includes activities such as staging auto accidents, submitting false medical bills, exaggerating existing injuries, and submitting false claims. There are many forms of insurance fraud, including organized crime schemes, identity theft, and creating false or fraudulent records to collect benefits that the person or company is not entitled to. Insurance fraud is a serious crime that can lead to criminal charges, significant fines, and loss of employment or personal fortunes.
  • Integration Risk refers to the risk associated with the combining of different systems or processes within an organization. This includes, but is not limited to, merging different parts of a business, different departments or different organizations, or integrating new technologies with existing systems. Integration Risk can be especially high when dealing with external, non-regulated entities, as the lack of control and visibility makes the potential for breaches or fraud more difficult to detect. It is essential for an Anti-Money Laundering Expert to be aware of the risks associated with integration and to be able to assess and manage these risks in order to reduce the risk of financial crime and successful money-laundering.
  • Integrity is a foundational concept in cybersecurity. It is an element of security that ensures the accuracy and completeness of data, while ensuring that no changes will be made to the data without authorization. This means that data is protected from unauthorized changes, destruction, and losses. Hence, integrity is the assurance that data is trustworthy and remains unchanged from its original form. It is a security measure that incorporates authentication, authorization, confidentiality, and integrity elements to ensure secure communication and data storage. Furthermore, integrity is used to ensure the accuracy of data transmission, secure storage and retrieval, and consistency of data. Together, these elements create secure systems that are reliable and resilient.
  • The concept of the Integrity Star Property (also known as the star property of integrity) is an important concept within the realm of cybersecurity. In general, this property is the assurance that information, once stored within a secure system, remains in its original form, unaltered and free from unauthorized access. This assurance allows organizations to reduce their vulnerability to malicious actors and ensure the accuracy of their data. The Integrity Star Property can be implemented through various practices and technologies, such as proper authentication and authorization protocols, encryption, checksums, and access control measures. An effective strategy for maintaining this property is regularly monitoring and auditing security systems, ensuring all data remains in its proper state, and that the organization’s data is secure and uncompromised.
  • Internal Evasion is a form of money laundering which is perpetrated within a company. It is done by manipulating the accounting records and transactions to disguise the origin and destination of funds. The purpose of Internal Evasion is to hide the true nature of the transactions and the flow of money in order to avoid detection by law enforcement and regulatory agencies. This form of money laundering is common in businesses that are particularly vulnerable to money laundering, such as those that deal in large amounts of cash. Internal Evasion is a serious crime and should be taken seriously by any business that is subject to anti-money laundering regulations.
  • Internal Fraud (Insider Fraud) is a type of fraud that is committed within a company or organization by its employees or other individuals who are part of the organization. This type of fraud involves the use of the organization's resources, personnel, finances or data for unauthorized personal gain or benefit. It is usually perpetrated when an individual company employee or associate uses their authority and/or access to the organization's resources, personnel or data to further their own personal interests. Internal fraud can be difficult to detect since it typically utilizes the organization's resources, often without notice or authorization. Signs of internal fraud include unusual financial transactions, unauthorized access to private data and changes in employee behavior.
  • An International Business Company (IBC) is a type of legal entity that is typically used for offshore business and international investments. IBCs are incorporated in a jurisdiction outside of the investor’s home country and have a number of benefits, such as limited liability, tax protection, and anonymity. As an Anti-Money Laundering Expert, it is important to understand how IBCs are used in an effort to ensure that transactions are conducted in a legitimate manner that is free of criminal activity. IBCs can be used for a variety of offshore activities, including investments, trading, and holding assets, and they can be a powerful tool for those looking to secure their personal and business investments.
  • International Cooperation Agreements are international agreements between two or more countries that commit them to cooperate in the prevention, detection, investigation and prosecution of money laundering and terrorist financing offences. These agreements are designed to ensure that countries have strong preventive and enforcement measures in place to combat money laundering, terrorist financing and other related crimes. International Cooperation Agreements facilitate the exchange of information between countries, which helps them to detect and investigate suspect financial transactions, and to take effective action against those responsible. By working together, countries can more effectively identify and address the risks posed by money laundering and terrorist financing.
  • The International Monetary Fund (IMF) is an international organization that was established in 1944 to promote international economic cooperation, exchange stability and facilitate global trade. The IMF is composed of 189 member countries who contribute to a pooled reserve of money to be used to aid countries facing financial difficulty. The IMF is responsible for monitoring international financial markets and providing support to countries in need of short-term financial assistance. It also provides advice and technical assistance to countries to help them improve their economic policies and strengthen their economies. The IMF has a number of tools to assist countries in times of economic crisis, such as providing loans, improving macroeconomic policies, increasing trade opportunities and providing debt relief.
  • International sanctions are punitive measures adopted by governments and international organizations to apply political and economic pressure on countries, entities, and individuals, in order to achieve a specific goal. They are used to deter potential aggressors, to limit the proliferation of nuclear and other weapons of mass destruction, to pressure states to respect human rights, and to impose economic and financial penalties on countries, organizations, and individuals associated with terrorism, corruption, illicit arms trafficking, drug trafficking or other activities that threaten world security and stability. Sanctions typically include trade embargoes, asset freezes, travel restrictions, and other punitive measures.
  • International Standards for Anti-Money Laundering (AML) are a set of global regulations that aim to counter money laundering activities and the financing of illegal activities. These standards require financial institutions to maintain a record of transactions and to verify the identity of their customers. They also require financial institutions to have a system in place to detect and prevent suspicious transactions. Additionally, they require financial institutions to report suspicious activities to the appropriate authorities. The implementation of AML standards aim to create a safer and more transparent financial system, protecting both consumers and financial institutions.
  • The International Traffic in Arms Regulations (ITAR) is a United States regulatory regime that governs the export and import of defense-related articles and services that are listed on the United States Munitions List (USML). It is administered by the Directorate of Defense Trade Controls (DDTC) within the United States Department of State and is designed to protect U.S. national security and foreign policy interests. ITAR is a strict control regime and requires that all U.S. persons (including businesses, individuals, universities, and research institutions) obtain prior authorization from the DDTC before engaging in certain activities related to the manufacture, export, or import of USML items. Failure to do so can result in criminal and civil penalties.
  • Internet Control Message Protocol (ICMP) is a network layer protocol used for network maintenance and troubleshooting on networks that use the Internet Protocol (IP). ICMP works by sending messages between the source and destination computers, allowing the source computer to determine whether the destination is reachable and responding. ICMP also provides feedback, such as hop count, round trip time, and packet loss, to help diagnose network issues. ICMP messages are handled by both the IP layer and transport layer protocols, such as the Transmission Control Protocol (TCP) or the User Datagram Protocol (UDP). As a cybersecurity expert, it is important to understand the various network protocols, such as ICMP, in order to properly secure and monitor network traffic.
  • The Internet Engineering Task Force (IETF) is an open international community of network designers, operators, vendors, and researchers working towards the development of internet protocols, standards and procedures. It is a large open volunteer collaborative effort with the goal of producing high quality, useful technical documents that are adopted and implemented by the internet community. It is the primary body responsible for managing the day-to-day technical operations of the Internet, the Internet Protocol Suite, and other aspects of the internet. It is responsible for developing, approving and publishing standards relating to the internet architecture and infrastructure. The IETF is a collective of individuals who work together to ensure that the internet remains a safe and secure place for all users.
  • Internet Message Access Protocol (IMAP) is an application layer protocol used for accessing, managing, and transferring emails stored on a remote server. It allows a user to access their emails without downloading them onto their device. IMAP provides client/server system wherein the client retrieves email, message flags, and other account information from the server. It enables users to access messages simultaneously and store email messages on the server itself, so the user can access them from any device. It also supports search functionality which allows a user to search their emails by subject, sender, date, and other criteria. IMAP is a secure protocol, as it supports secure connections over the internet with the use of Transport Layer Security (TLS).
  • The Internet of Things (IoT) refers to a network of connected physical objects, such as vehicles and home appliances, that contain embedded technology to facilitate the collection, exchange and analysis of their data. This data is generated in many forms, such as voice commands, images, temperature, pressure and motion. IoT is used to create intelligent systems that are able to make decisions, act autonomously and even interact with their environment. Through IoT, devices and machines can be remotely monitored and controlled for various applications, such as home automation, healthcare, transportation and logistics. By creating a connected digital infrastructure, IoT can bring a wide range of opportunities, from increased efficiency and cost savings to improved safety and quality of life.
  • Internet of Things (IoT) Security is the process of taking the necessary measures to ensure the security of connected devices, networks, and systems used to access and collect data from Internet-connected devices. IoT Security involves implementing security measures to protect the large number of devices and sensors that are connected to and interact with each other, as well as ensuring that data remains secure while being transmitted. This involves protecting data from unauthorized entities, making sure data is transmitted securely, and ensuring the confidentiality, integrity, and availability of the system. A combination of authentication, encryption, and network security measures are used to achieve this. The goal of IoT Security is to maintain the reliability and integrity of the Internet of Things, as well as ensure the privacy and security of the data and personal information that is transmitted.
  • Internet Protocol (IP) is a set of rules and standards used for communication over the internet. It is the main communications protocol used for transmitting data packets between devices, including computers, mobile phones, and tablets. It enables devices to exchange data and for computers to host multiple services such as the World Wide Web and email services. IP is responsible for addressing, routing and managing the communication of data packets across multiple networks. It also provides necessary security elements, such as the encryption of data, protecting users from malicious activity. Ultimately, Internet Protocol is the backbone of technology, making our world more connected, secure and digital.
  • Internet Protocol Security (IPsec) is a set of security services that use cryptographic security and network protocols to provide data confidentiality, data integrity, and data authentication over the Internet. IPsec can be used to protect one or more paths between two or more hosts, networks, or applications. It is an important component of a secure IT infrastructure that can be configured for encryption, authentication, and other security services. IPsec implements authentication, integrity, and confidentiality mechanisms at the IP layer of the network layer. This provides an added layer of security for data traveling over the Internet. It can also be used for providing secure VPN tunnels. IPsec is considered to be the most widely used security protocol for protecting data being transferred over the Internet.
  • An intrusion detection system (IDS) is a type of monitoring system that detects attack attempts against a network or computer. Its purpose is to identify and alert the user whenever an attack is attempted. It works by examining incoming data traffic and comparing it with a set of rules to detect possible malicious activity. The system is capable of recognizing known malicious tactics or patterns, such as suspicious IP addresses or abnormal login attempts. It is also capable of extracting information from data packets that can help identify and block potential attacks. IDS is an essential element of a comprehensive security system, as it provides an added layer of protection from cyber-attacks.
  • An Intrusion Detection System (IDS) is a type of security system used for monitoring and detecting unauthorized access, misuse and malicious activities of computers and computer networks. It attempts to detect malicious activities such as unauthorized access to networks, data or information, modifying configurations, malicious code, denial of service attacks and system intrusions. It is normally deployed at keypoints in a network to monitor and detect suspicious activity. IDS usually works by analyzing network traffic and identifying patterns of malicious activity, which are then compared with previous known malicious activity. Once identified, the IDS can alert the administrators and take countermeasures, such as blocking the malicious activity and inform responsible authorities if necessary.
  • Intrusion prevention is a type of security system designed to intercept threats as they attempt to gain unauthorized access to a system. It is a proactive approach to cybersecurity, aimed at preventing threats before they have a chance to do damage. Intrusion prevention systems typically use a combination of signature-based and anomaly-based detection to identify malicious activity. Signature-based detection looks for previously identified patterns of malicious activity, while anomaly-based detection looks for behaviors that deviate from what is considered normal and suspicious. Intrusion prevention systems are used to protect against a variety of attacks, including malware, phishing, and denial of service attacks.
  • An Intrusion Prevention System (ips) is a network security technology that monitors network activity for malicious or anomalous behavior and blocks or redirects suspicious traffic when detected. An IPS utilizes signature-based detection, protocol analysis, and anomaly-based detection to identify and react to malicious activities. It is typically deployed in-line and monitors all incoming and outgoing traffic that passes through the system. It can detect viruses, malware, malicious code, and unauthorized access attempts and take pre-defined actions such as blocking malicious traffic, quarantining infected systems, and alerting administrators. IPS deployments can be either network-based or host-based, offering different levels of protection.
  • Inventory Fraud is a type of fraud involving inventories (assets) during accounting periods. It can involve multiple participants, such as the company, suppliers, and customers. Generally, it is conducted by falsifying or manipulating records. It may involve understating or overstating inventory numbers, overvaluing, or improperly removing physical assets. Inventory fraud is also known as asset misappropriation and is one of the most common forms of white-collar crime. Common techniques used to commit this type of fraud include double-counting inventory, mislabeling, hiding discrepancies in the stock counts, and providing false data. It can have serious financial implications, including loss of revenue and negative effects on the company's balance sheets and reputation. It is essential to prevent and detect fraud in inventory through internal and external audits, spot-checks, and installation of fraud prevention measures.
  • Investigation techniques are used within the anti-money laundering (AML) industry to detect, analyze, and report suspicious transactions. These techniques involve collecting and analyzing data from multiple sources such as financial institutions, public records, and law enforcement organizations. Analysts use specialized software to search for patterns and trends that could indicate suspicious activity. Once potential suspicious activity is identified, analysts then conduct further investigations, which may include reviewing customer activity, interviewing individuals, and filing reports to regulatory bodies. By utilizing these investigation techniques, AML experts can help organizations mitigate their financial crime risk.
  • Investment fraud is a type of financial crime whereby victims are tricked into making investments into fraudulent schemes and “opportunities”. It usually involves a misrepresentation of facts that induces victims to make decisions they would not do otherwise if they had the complete truth. It can involve false promises of high or guaranteed returns, or convincing victims to “invest” in fake companies or products. Investment fraud can cause huge financial losses to victims; not only the money they put in the scheme, but additional losses from the market crash that followed or from the fact that the investment never matures. It is important to be aware of the potential for fraud and to exercise extreme caution. Seek out professional and well-reviewed advice, and never commit to any financial decision without extensive research and verification.
  • IOD (Impersonation of the Deceased) fraud is a type of cybercrime that takes place when someone takes over the identity of a deceased person, often by stealing and using their personal information, including their Social Security number, bank account and other financial particulars. In this type of fraud, criminals assume the deceased person's identity and commit financial crimes, such as applying for loans or credit cards in the deceased individual's name. The purpose of this type of fraud is usually to steal money or list the property of the deceased. To combat this type of fraud, it is important for individuals to secure all of their personal information, update and secure estate documents, report any suspicious activity, and alert their bank and the major credit bureaus if they believe the identity of a deceased family member has been stolen.
  • An IP address (Internet Protocol address) is a numerical label assigned to each device (e.g. computer, printer) connected to a computer network that uses the Internet Protocol for communication. An IP address serves two main functions: host or network interface identification and location addressing. IP addresses are usually written and displayed in human-readable notations such as 192.168.0.1. Each device on the network has a unique IP address that can be used to identify and locate it on the network. Additionally, IP addresses can be used to restrict access to certain parts of a network and can be used for network security measures such as firewalls and intrusion detection systems. IP addresses are a critical component of maintaining a secure and reliable network infrastructure.
  • IP Address Verification is an important fraud prevention and cyber security measure used by businesses to verify the location of the user or device accessing their services. This is done by checking that the IP address that the user is connecting from matches the known physical location associated with that address. Businesses use this information to detect illegal activities and protect their systems from malicious users. IP verification is used to authenticate and validate users, secure transaction data, and provide an extra layer of security to prevent fraudulent activity. It is an important tool in reducing cyber crime and enhancing the overall security of web-based services.
  • IP flooding is a type of Distributed Denial of Service (DDoS) attack in which an attacker sends a large amount of Internet Protocol (IP) traffic across the network in order to saturate the bandwidth of the victim’s machine(s). The goal is to prevent access to the target network by inundating it with so much data that it can no longer handle legitimate traffic. The attack is usually performed by an intruder with a botnet, or a group of computers that have been infected by malware. The attack can also be performed using compromised internet-connected devices such as routers, switches, and printers. In an IP flood attack, attackers can send numerous malicious packets to the target's network through spoofed IP addresses, consuming most of the target's resources and disrupting the normal functioning of the network.
  • IP Forwarding is the process of routing a packet from one network to another network. It is a function of a network device or routers to forward packets between networks based on the IP address of the destination of the packet. IP forwarding is a vital role for the communication of two separate networks. This process makes use of the IP address of each packet to route the packet to its destination based on the most efficient route. By forwarding packets, networks can scale, helping ensure efficient communication from one node to another.
  • IP spoofing is a type of cyber attack in which an attacker impersonates a legitimate user by using a false IP address. The attacker will typically send packets of data to the victim with the false IP address. These packets appear as if they were coming from the legitimate user, making it difficult for the victim to detect and trace the attack. IP spoofing is often used as part of malicious activities such as distributed denial of service (DDoS) attacks, session hijacking, and other forms of network attacks. It can also be used to disguise the identity of the attacker in order to gain unauthorized access to data and resources. As such, IP spoofing is a serious threat to cybersecurity and needs to be addressed by organizations.
  • Islamic State of Iraq and alSham (ISIS) is a militant Islamist organization composed of Sunni Arab and other Muslim fighters that rose to power in Iraq and Syria in 2014. It seeks to establish a caliphate or Islamic state governed by a strict interpretation of Islamic law. ISIS has employed violence and terror tactics to expand its influence, including executions, kidnappings, and beheadings. It is considered a terrorist group by many governments, including the United States. The group is also known for its horrific acts of violence against religious and ethnic minorities, and its destruction of cultural sites, including historical artifacts and archaeological sites.
  • The Islamic State of Iraq and the Levant (ISIL), also known as the Islamic State of Iraq and Syria (ISIS) is a militant group that is active in Iraq and Syria with the aim to establish a caliphate, an Islamic state led by a group of religious leaders under a strict interpretation of Islamic law. It is a terrorist organization that is responsible for a number of violent acts in the region, including massacres, kidnappings, and beheadings. ISIL has also gained notoriety for its use of social media to spread its message and recruit followers. ISIL's ultimate goal is to create a global caliphate and impose its own version of Sharia Law throughout the world.
  • An Isolation Company is a type of company established exclusively for the purpose of money laundering prevention and detection. It is a company formed to identify, separate, and isolate suspicious transactions from legitimate ones. It creates a “firewall” between the original source of the funds and the ultimate beneficiary. The purpose of such a company is to allow the legitimate business activities of a company to continue while the suspicious transactions are identified, tracked and reported according to anti-money laundering regulations. In the case of a money laundering investigation, the Isolation Company can be used to facilitate the investigation by providing an independent and transparent platform for the analysis of the suspicious transactions. In addition, the Isolation Company can provide a safe haven for funds that may be subject to forfeiture in the course of a money laundering investigation.
  • ITU-T X.800 is an international standard for information security. It defines the concept of an Information Security Management System (ISMS) as the overall framework for the management and control of security risks. The standard outlines the necessary requirements for the ISMS to achieve the desired security objectives. It was developed by the International Telecommunications Union (ITU) Telecommunication Standardization Sector (ITU-T). The core components of X.800 include a framework for risk management, the information security policy, security controls, security incident management and monitoring, and other measures to prevent, detect and respond to security threats. X.800 also includes methods for evaluating effectiveness of the security controls and requirements for compliance with the standard. This allows organizations to establish a standard and consistent approach to securing their information assets.
  • JBOH (JavaScript-Binding-Over-HTTP) is a security framework which allows bi-directional communication between a client and a server using JavaScript Object Notation (JSON) over HTTP. The framework offers an exposed API to a web application, enabling the client to call the server-side functions directly from the client JavaScript context. This allows the client to both execute code on the server side and access data stored on the server side, without having to perform a full page reload or AJAX request. The framework includes an authentication mechanism to protect the communication between the two systems, using challenge-response based authentication. JBOH is primarily used for providing secure access to web applications, debugging, and other security-related tasks.
  • Jitter is a term used in computer science and computer networks referring to variation in the latency or response time of network traffic. It is commonly caused by the fact that data transmissions can take variable amounts of time and routers along the path can delay data by a variable amount, or packets can be lost. The impact of this variable latency or delay is usually experienced as a choppiness in audio streams or a hesitation in video streams when latency exceeds the threshold that the application can tolerate. Jitter is sometimes referred to as “packet delay variation". To minimize jitter, network engineers sometimes use protocols such as UDP or JitterBuffers in order to prevent out of order deliveries of packets. Additionally, network engineers can implement traffic shaping or Quality of Service (QoS) rules to minimize impact of jitter.
  • The Joint Comprehensive Plan of Action (JCPOA) is an agreement between the E3/EU+3 (China, France, Germany, Russian Federation, United Kingdom, United States; and the High Representative of the European Union for Foreign Affairs and Security Policy) and Iran. It was an arrangement to ensure that Iran's nuclear program will be exclusively peaceful by limiting Iran's nuclear activities and providing for the comprehensive lifting of all UN Security Council sanctions as well as multilateral and national sanctions related to Iran’s nuclear program. The JCPOA outlines mechanisms and measures to verify Iran’s compliance with the requirements and restrictions established in the agreement. It also provides for the gradual lifting of international sanctions against Iran.
  • The Joint Money Laundering Intelligence Taskforce (JMLIT) is an initiative created to combat money laundering activities by sharing intelligence and resources between different public and private sector organizations. The taskforce is made up of representatives from law enforcement, financial institutions, and other government agencies, who all collaborate and share information to identify, disrupt and prevent money laundering activity. JMLIT seeks to ensure that all organizations involved in the financial sector are compliant with relevant laws and regulations, and that suspicious and illegal activities are identified and mitigated. Through their collaboration and expertise, JMLIT works to ensure that the global financial system is as transparent and secure as possible to protect consumers and legitimate businesses.
  • The Joint Money Laundering Steering Group (JMLSG) is a private sector body established in 2000 in response to the Money Laundering Regulations 1993 to provide guidance on anti-money laundering for the UK financial sector. The group consists of representatives from the financial services industry, along with government bodies like HMRC and the Law Commission. Their objective is to produce a set of standards and guidelines to help regulated firms in their implementation of anti-money laundering procedures, to reduce the risk of money laundering as much as possible and to foster collaboration between the industry and law enforcement authorities. The JMLSG's guidance is well-recognised among the industry, and their requirements are used to measure the effectiveness of firms' anti-money laundering processes.
  • Jump Bag is a term used in Cybersecurity to refer to a collection of essential tools, resources, and documents that help a Cybersecurity Expert respond to security incidents. Jump Bags help to ensure that the Cybersecurity Expert is well-equipped with the necessary resources to identify and mitigate threats quickly. A Jump Bag typically contains items such as specialized tools, documentation, laptop, and other equipment required to conduct incident response and related activities. Jump Bags also contain items related to crisis communication, such as pre-approved messages, which can be used to inform users and stakeholders of the incident. A comprehensive Jump Bag ensures that the Cybersecurity Expert is well-prepared for any security incident.
  • Kerberos is an authentication protocol that is used to provide a secure system for authentication of users within a computer network. It uses a three-way handshake between the requesting user, the server, and a trusted third party to ensure that the user has access to the requested resources. Kerberos uses symmetric encryption and secret key cryptography to protect the user's credentials and data packets. The protocol authenticates the user by requiring a secret key that must be known to both the client and the server. If a user credentials are valid, the authentication process is completed and the user is able to access the requested resources. Kerberos is an important tool for securely sharing data between systems and networks, making it an essential tool in defending against cyber-attacks.
  • A Kernel is a computer program that acts as the core of an operating system. It is responsible for managing the various resources, such as memory and CPU, that are shared between other programs in a computer system. The Kernel is typically the first part of the operating system to start up when a computer is powered on, and it provides an interface between hardware and software. It provides basic services, such as device drivers and memory management, to ensure that programs can be executed properly and efficiently. Furthermore, the Kernel is essential for security technology because it is responsible for managing user access rights, file system protection and user identification. Without a Kernel, the operating system, as well as all other programs running on the computer, would not be able to access hardware components or interact with one another.
  • A keylogger is a type of malicious software (malware) that records and logs a user's keystrokes on a computer or mobile device. Keyloggers are usually hidden from the user and are designed to remain undetected. This type of malware is typically employed in order to access sensitive information such as passwords, credit card numbers, or other such confidential information. Keyloggers are also used by hackers for surveillance purposes. They can monitor a user's actions on a computer or mobile device, set up a remote control connection over the internet, and even record conversations. Keyloggers can have serious implications for the security of an individual, organization, or business. As such, they must be actively monitored and technical solutions must be employed to ensure they are detected and eliminated quickly.
  • Keylogging (or keystroke logging) is a form of monitoring and surveillance that records every keystroke and combination of keys that is pressed by a computer user. It is usually done to gain unauthorized access to sensitive information such as passwords, credit card numbers, and documents. The software used to capture keystrokes is often undetectable, and can be installed surreptitiously on a target computer. The keylogger collects the data and sends it to the attacker's server where it can be analyzed and used for malicious purposes. Keylogging is a serious security threat as it allows attackers to gain access to confidential data without the user's knowledge. It is important for users to take caution when using online services and always maintain strong passwords to prevent keyloggers from leaking sensitive information.
  • Keystroke Dynamics is an authentication technique which uses the timing information recorded when a user types their username and password. This timing information, such as the amount of time between keys, can be converted into a template of how quickly the user types and compared with the template on record to verify the user’s identity. Keystroke Dynamics can identify users more accurately than traditional password-only methods due to its ability to pinpoint subtle typing habits that are unique to each user. Its implementation adds an extra layer of protection from identity theft, credential brute force attacks, and other forms of cybercrime.
  • A keystroke logger is a type of malware that can be installed on a computer or other device to monitor and capture all of the keystrokes that are typed into the device. This can include passwords, usernames, credit card numbers, financial information, email addresses, and any other sensitive or confidential data. Keystroke logging is used by criminals to steal identities, access accounts, spread spam and viruses, and commit other types of online fraud. The software can be difficult to detect as it can disguise itself and can be hard to remove once installed. It is important to use reliable anti-virus software and regularly update the operating system to prevent this type of attack.
  • Kickbacks are payments made to individuals in exchange for favorable treatment, such as preferential contracts or access to privileged information. The main problem with kickbacks is that they can occur between individuals of different organizations, in which case a person of one organization may give a person of another organization a payment in order to receive preferential treatment for their own organization. This can result in an unfair playing field and an increased risk of fraud and corruption. For businesses, it can lead to losses from hidden costs or overpayments. Fraud prevention and cyber security experts need to ensure they have anti-kickback measures in place to identify and stop such occurrences.
  • Kleptocrat is a term used to refer to a political or government leader who uses their position to take advantage of their power and privileges to line their own pockets with ill-gotten money. Such leaders may also use their power to embezzle funds, accept bribes, and engage in other fraudulent activities. Kleptocrats typically hide their wealth through money laundering, which is the practice of concealing the origin of illegally obtained wealth. Anti-Money Laundering Experts play an important role in detecting and preventing kleptocracy by identifying its indicators such as large and unexplained wealth, the suspicious use of offshore shell companies, and complex money flows.
  • Know Your Business (KYB) is a process by which companies can gain a deep understanding of their customers’ business activities. This process includes collecting information about the customer, such as their name, address, and type of business, and taking steps to ensure the customer’s identity is verified. The purpose of KYB is to enhance a company’s ability to identify and mitigate money laundering, terrorist financing and other financial crimes. KYB is an essential component of an effective Anti-Money Laundering (AML) program and is a key compliance requirement for many organizations. KYB helps companies comply with AML regulations, protect customers from fraud and abuse, and reduce risk to the company.
  • Know Your Correspondent Bank (KYCB) is an Anti-Money Laundering (AML) measure that requires correspondent banks to collect and maintain comprehensive information about their customers, including the source of funds and the purpose of transactions. This information helps to identify and monitor the activities of the customers and to prevent the use of the correspondent bank to facilitate money laundering. It is essential that the correspondent bank knows who its customer is before entering into a business relationship and that the customer's activities are monitored on an ongoing basis to ensure any suspicious transactions are reported to the relevant authorities. KYCB helps to ensure that correspondent banks are not inadvertently facilitating money laundering activities.
  • Know Your Customer (KYC) is a process that requires businesses to verify the identity of a customer before doing business with them. This process is used to reduce the risk of money laundering and other financial crimes. It typically involves collecting documents such as a driver’s license, passport, or proof of address. The business must also obtain information on the customer’s source of wealth and occupation. This information must be checked against the customer’s identity to ensure accuracy and verify the source of funds. KYC is an important process for businesses to follow to ensure that the transactions they conduct are legal and the customer is not using illegal funds.
  • Know Your Customer's Customer (KYCC) is an Anti-Money Laundering (AML) term used to describe the due diligence process involved in verifying and assessing the customers, and other related parties, of a customer. KYCC requires organizations to identify and assess the risk associated with a customer, beyond just the direct customer itself, to ensure compliance with Anti-Money Laundering regulations. KYCC involves gathering information on the customer's ultimate beneficial owners, its business relationships, financial activities and other activities to obtain a full picture of the customer’s identity and assess their associated risk. Ultimately, it enables organizations to accurately identify, monitor and report suspicious financial activity.
  • Know Your Employee (KYE) is an important Anti-Money Laundering (AML) policy used by businesses to identify and verify customers and employees. KYE involves verifying the identity of an individual, often by obtaining valid government-issued identification documents such as a passport, driver’s license or utility bills. KYE also entails researching and verifying the individual's background and qualification prior to employment, as well as ensuring that the individual is not involved in any criminal activities such as money laundering. Additionally, KYE involves continually monitoring the activities of employees, customers, and vendors to ensure they are in compliance with AML policies, and to identify and report any suspicious activities.
  • Know Your Third Party (KY3P) is an important anti-money laundering concept that focuses on identifying, assessing, and monitoring third parties. It is comprised of three key components: risk identification, risk assessment and monitoring. Risk identification involves understanding the nature, scope, and purpose of the relationship with the third party, as well as understanding the type of services they provide. Risk assessment entails evaluating the third party’s compliance and anti-money laundering policies and procedures, as well as the level of risk they present. Lastly, monitoring requires the implementation of appropriate due diligence and the continuous monitoring of the third party’s activities. KY3P is an integral part of an effective anti-money laundering program, since it helps to identify and reduce the risk of money laundering through third party relationships.
  • Know Your Transaction (KYT) is a process used by financial institutions to identify and report suspicious transactions related to money laundering and other financial crimes. It involves monitoring and analyzing customer behavior and transactions over a period of time to detect any patterns or red flags that may indicate a potential threat. This process helps to identify potential illegal activities before they are fully executed. Financial institutions must have an effective KYT program in place to meet the expectations of anti-money laundering (AML) regulations.
  • KYC, or Know Your Customer, is a process used in fraud prevention and cyber security to verify the identities of customers. It typically involves collecting information such as a full name, address, date of birth, a copy of an official government-issued identification document, and other data. This can involve manual and automated processes, such as background checks, facial recognition, and document authentication. Through KYC, an organization can reduce the risk of fraud, minimize identity theft, and better comply with regulations. It is also a crucial first step in developing a trusting relationship with the customer.
  • The term lattice techniques refers to a type of encryption technology used to protect data in a shared environment. It is based on mathematical structures known as lattices, which are used to represent the data. This encryption technology provides a high level of security and can be used to protect a wide variety of data, including passwords, financial information, documents and other sensitive data. Unlike many other encryption technologies, lattice techniques rely on the fact that it is hard to determine a pattern in a random sequence of characters. This makes it difficult for an attacker to decipher the encrypted data. Furthermore, lattice techniques are also immune to brute force attacks, since they rely on the sheer amount of characters present in the encrypted data. As a result, lattice techniques can be an excellent tool for protecting data in a shared environment.
  • Law enforcement refers to the practice of enforcing laws and regulations, typically by police, courts, and other government agencies. This practice is part of a larger system of criminal justice which seeks to prevent crime and ensure public safety in society. Law enforcement officers particularly police officers, have the authority to make arrests, perform searches, use force, and detain suspects. Additionally, they are responsible for enforcing laws related to traffic violations, drugs, property crimes, and organized crime. Other aspects of law enforcement, such as criminal investigations, intelligence gathering, and community policing are also part of the overall mission of keeping society safe.
  • Layer 2 Forwarding Protocol (L2F) is a communication protocol that operates at the second layer of the Open Systems Interconnection (OSI) model. L2F is used to forward and switch data over a network of multiple systems by encapsulating packets within a single session. It is essential for data security as it protects communications between two systems that are connected to the same network. Furthermore, L2F allows for data integrity and authentication, as well as protection against denial of service attacks. In summary, L2F is a critical component in secure data transmission and switching.
  • Layer 2 Tunneling Protocol (L2TP) is a network protocol used to create tunneled connections between two networks across the Internet. L2TP is a combination of two separate protocols: the Point-to-Point Protocol (PPP) and Layer 2 Forwarding (L2F). Once the tunnel is established, L2TP encapsulates PPP packets and sends them over the Internet. By doing this, L2TP provides security, privacy, and authentication of data transferred over the Internet. In addition, L2TP can also provide encryption, thus allowing data to be securely transferred between two networks. As L2TP is a primarily used for tunneling between two networks, it is frequently used for connecting remote users to a corporate network.
  • Layering is a technique used by criminals who attempt to conceal the illegal origin of funds obtained through criminal activities. It involves multiple transactions, often through different financial instruments and countries, to obfuscate and obscure the money's origin. Layering involves transferring money or other assets between different accounts and entities, making it difficult to trace the money’s origin or purpose. The objective of layering is to make the money appear to be from a legitimate source and to make it hard for law enforcement to detect and trace the laundered money. Layering also helps criminals reduce their risk of detection by making it more difficult for authorities to establish the origin, movement and ownership of the funds.
  • Least privilege (also known as the principle of least privilege) is a fundamental security concept that dictates that an individual, process, or service should only have access to the exact resources it needs to carry out its duties. In other words, the principle of least privilege means that each user or service should only have access to the minimum amount of resources and privileges necessary, allowing for the elimination of potential loopholes and vulnerabilities. By following the principle of least privilege, organizations can reduce the attack surface from malicious actors looking to take advantage of weak security protocols and practices. This reduces the potential for incident response and greatly enhances overall system security.
  • Lending is the process of giving money or other assets to an individual or organization, expecting it to be paid back with interest. It usually involves a financial institution assessing an individual’s creditworthiness and authorizing a loan of a certain amount at an agreed-upon interest rate. This process involves a degree of risk as the lender assumes that they will not receive the full amount of the loan back. To mitigate this risk, financial institutions employ fraud prevention and cyber security measures to ensure their lenders are not putting themselves at risk of fraudulent activities. These measures involve data protection and fraud risk assessments, identity verification checks, security protocols, and monitoring systems to detect and prevent unauthorized access, malicious attacks, and data breaches.
  • Level of Assurance (LOA) is a security measure used to assess the strength of authentication processes. It is used to gauge the confidence in the identity of an individual or entity that has been authenticated. LOA is determined using a number of factors, such as the type and strength of authentication factors used, the number of authentication factors used, the relative strength of each, the technical security settings of the system or application, and the dynamics of the authentication process. The higher the LOA, the greater the confidence that the identity of the person or entity being authenticated is correct. LOA is important for maintaining the security of organisations and its customers as it allows them to assess the trustworthiness of an authentication process.
  • Liability Shift is a term used in the context of fraud prevention and cyber security that refers to the transfer of responsibility from one customer to another. It typically applies when one party is held liable for a transaction that has been made using their payment card. The party liable for a transaction is usually the customer, though in some cases there may be a third party payment processor or merchant that is responsible. In such cases, the Liability Shift refers to the transfer of responsibility to the third party or merchant. Liability Shift can also refer to the legal consequence of using digital payment tools such as online banking, digital wallets, and cryptomarkets, where the customer is typically responsible for any losses due to unauthorized transactions or security failures.
  • Lightweight Directory Access Protocol (LDAP) is an open, cross-platform protocol used to manage and access directory services, primarily for user authentication and authorization. LDAP servers use a hierarchical structure to store and organize objects, such as users and groups, in a directory. It provides different operations to perform on the objects, such as searching, modifying, and creating. To ensure data integrity and ensure the privacy of users, LDAP uses secure authentication methods and encryption. LDAP's main purpose is to provide a centralized and secure repository of user information, which can be used to provide access control and authorization for applications and services.
  • Link jacking is a type of cyber attack in which malicious actors inject malicious code into legitimate links or websites with the purpose of redirecting users to different websites or malicious content. This type of attack is often used to distribute malware, phishing attempts, or other malicious activities. Linkjacking can also be used to hijack user data or steal sensitive information. To protect against this type of attack, organizations should ensure they use HTTPS protocols and monitor links and websites for any strange behavior or malicious code injection. They should also update their security software regularly and educate employees and customers on proper internet security practices.
  • Link State Routing is a type of routing protocol used in computer networks. It is a form of dynamic routing which uses link-state advertisements (LSAs) to exchange information between nodes in the network. LSAs contain local information about the network, such as the cost of links and network topology. This information is used to construct a link-state database, also called a topology table, which is used by the routing protocol to determine the best path for data to reach its destination. Link State Routing employs a distributed algorithm in which each router independently calculates the best path to each destination in the network. This type of routing protocol is considered to be more efficient and reliable than other forms of routing protocols, providing high-level security and reliability against malicious attacks or data traffic.
  • List Based Access Control (LBAC) is an access control method where access privileges are determined based on user profiles that define the rights of that user. LBAC allows administrators to rapidly set up and enforce permission policies for users by assigning them to user groups and granting or revoking access to resources for that group. LBAC provides administrators with fine-grained control, allowing them to specify user access rights to resources that would otherwise be too difficult or undesirable to control. LBAC also allows administrators to easily enforce least privilege and time-sensitive access policies, and provides an audit trail to help track user activity. LBAC is a critical part of any organizations’ defense against data breaches and cyber attacks.
  • Loadable Kernel Modules, referred to as LKMs, are pieces of kernel code that can be loaded into and unloaded from the kernel, at runtime. LKMs are objects that may be used to extend the functionality of the Linux operating system. They are typically used to add device drivers or to extend the functionality of existing device drivers. LKMs are useful for adding support for a new device, or for customizing the behavior of a device, without having to modify the Linux kernel code and recompile the kernel. They are also useful for debugging and troubleshooting device driver issues. LKMs are written in C and must be compiled with the Linux kernel's source code, along with a set of kernel headers.
  • A Local Area Network (LAN) is a type of computer network that covers a relatively small physical area, such as a home, office, or building. It interconnects computers, printers, and other devices, providing a high-speed data exchange within a confined space. The network is typically established through a network access device such as a router or switch, allowing users to share information and resources such as files, printers, and internet access. A LAN is typically owned, controlled and managed by a single organization and is used for communication, data storage, and other resources. The LAN can be wired or wireless in nature, but both types provide users efficient and secure access to resources within a confined space.
  • Log Clipping is a common technique used in the world of Cybersecurity to monitor system and user activity. It involves monitoring and extracting important data from logs by filtering out unneeded data, such as excessive entries. It allows optimal analysis of log data, as only important and relevant data is collected. This can include logins, applications accessed, file access, resource allocation and more. Log Clipping can be used to detect anomalies and suspicious activity, enabling security teams to react swiftly and prevent malicious behavior. It is an important tool in the fight against online threats, and is especially important when used in conjunction with other security measures.
  • Log Management is the process of collecting, analyzing and storing log files from all of an organization’s computers and networks. This includes analyzing system and application logs, antivirus and firewall logs, web and database logs, and any other logs that record activity of users, systems, and applications in the organization. By properly managing logs, a Cybersecurity Expert can analyze and detect any anomalies that could lead to a security breach. Log Management typically involves collecting and parsing logs and providing access to the data to security administrators so they can investigate potentially suspicious activity or respond to incidents. Logs provide valuable insight into the operations of an organization and can be used in compliance management, incident forensics, operations management, and system administration.
  • A logic bomb is a malicious cyberattack that triggers when specific conditions are met. It is a piece of code that is secretly placed in a system and is designed to execute a malicious task when certain conditions are met. For example, if a specific file is deleted, or if the system clock reaches a certain time or date, the code will be triggered and perform destructive activities such as erasing data, corrupting files, or disrupting system operations. This type of attack is dangerous because it can be difficult to detect and may cause extensive damage before it is stopped. Additionally, logic bombs can enable malicious actors to gain unauthorized access, create backdoors in the system, and compromise its security.
  • A logic gate is a digital circuit element which is used to evaluate one or more logical expressions to produce a single logical outcome. It is the basic building block of any digital system. It can be used to construct complex logic systems such as arithmetic circuits, relational circuits, multiplexers, decoders, and state machines. Logic gates are classified into two categories: combinational logic gates and sequential logic gates. Combinational logic gates perform logical operations on the inputs to generate output without any memory, while sequential logic gates use moments to store data and time to determine the output. Logic gates can be designed using transistors, diodes, and other electrical components.
  • Look-Back is a process of reviewing financial transactions at a later date to ensure compliance with laws and regulations regarding money laundering. Organizations use this process to check for suspicious activity that may have been missed when the original transaction was completed. In addition, they use Look-Backs to assess the effectiveness of their anti-money laundering controls, identify any weaknesses, and strengthen those areas. This process helps organizations to detect and prevent money laundering activities and protect customers’ funds.
  • A loopback address is a type of IP address used to route messages back to the same computer sending them. It is a special type of IP address, usually in the form of 127.0.0.1, that is used to refer to the same computer or device on a network. Loopback addresses are not reachable from other computers or devices on a network and are most often used for software debugging, routing, and loop prevention. Additionally, loopback addresses are used as a way of testing network applications by sending requests and receiving replies locally. For example, a web application on a server can be tested by making a loopback request to itself to ensure that the server is working properly. All networks, including virtual networks, use loopback addresses.
  • A Lottery Scam is an attempted fraud in which a scammer falsely advises a victim that they have won a lottery prize, and subsequently attempts to extort money from the victim for "processing fees" or similar. Generally, the scammer will try to claim that their victim has won some large sum of money in a lottery draw, but that in order to receive the prize they have to pay a fee or other charges. They may also try to ask the victim to reveal personal financial information such as bank account details in order to facilitate transfer of the prize. In all cases, the victim does not actually receive any winnings at all and is simply tricked into giving away their money or financial details.
  • Loyalty points fraud refers to the intentional abuse of loyalty reward program points within an organization. It involves the theft or fraudulently gained control of loyalty points, either from within the organization or from outside sources or hackers. This type of fraud requires an understanding of the policies and procedures associated with organizations' loyalty points program, as well as a knowledge of the fraud techniques employed to exploit the system. Common techniques used in loyalty points fraud include fraudulently gaining access to account information, exploiting vulnerabilities with computer algorithms, or manipulating the authentication and analytics processes. Such tactics can result in the unauthorized transfer of points, the purchase of goods or services with funds from the account, or the accumulation of points or privileges. As loyalty points can sometimes be used for large amounts of money, fraudsters have become increasingly creative in their tactics, making(...)
  • A Media Access Control (MAC) address is a unique identifier assigned to a network interface controller (NIC) for a networked device. It is used to identify devices on a network, and is sometimes referred to as a physical address or hardware address. It is made up of six pairs of numbers and letters, with each pair separated by colons (e.g. 00:0A:95:9D:68:16). The first three pairs are the Organizationally Unique Identifier (OUI) which identifies the manufacturer of the NIC, while the last three pairs are the specific address assigned to the NIC. The MAC address is usually stored in the memory of the NIC and is not changed by software. It is used to identify the device and is used in layer two of the OSI model to communicate on a network.
  • Mail Fraud is a type of white-collar crime that involves the use of the mail system to commit acts of deceit or fraud. This could include sending fake checks and money orders by mail, or sending emails containing false or deceptive information. Wire Fraud is a form of fraud which involves the use of electronic communication channels, such as the internet and telephone networks, to commit criminal acts. Wire fraud can take various forms, including online scams, phishing emails, and cybercrime as a whole. It may involve the theft of money through unauthorized transfers, or obtaining privileged information for the purpose of exploiting it. It can also involve attempts to manipulate stock prices or other financial markets.
  • Mail Order Telephone Order (MOTO) is a type of transaction that occurs when a customer places an order over the phone or by mail. This usually involves sending a payment via check, along with the purchased items, to an address given by the customer. During the transaction, the customer will provide their credit card information, either verbally or via written form, which is then transferred to the merchant by the order taker. MOTO payments carry a greater risk of fraudulent activity due to the lack of physical presence, with the customer unable to verify the merchant's true identity. As a result, merchants must use strong security protocols to detect and prevent fraudulent MOTO transactions, such as utilizing fraud detection analytics, high-digit verification, and other anti-fraud measures. MOTO also carries a variety of compliance regulations, such as card brand and advanced fraud protection rules, that must be followed in order for merchants to process payments.
  • Malicious code is computer code that is designed to damage, disrupt, steal, or in general, perform malicious actions on computer systems, networks, and applications. It is often disguised as legitimate software and is used to gain access to confidential data and disrupt the normal functioning of computers. Malicious code can be spread through email, downloads, malicious websites, and removable media. Common malicious code types include viruses, worms, ransomware, logic bombs, Trojan horses, and rootkits. Cybersecurity experts use a variety of security tools and techniques to detect and defend against malicious code. These include malware scanning, intrusion detection systems, firewalls, application whitelisting, and endpoint security.
  • Malvertising is an online advertising method used to deliver malicious software to unsuspecting users. In essence, it is the combination of the words “malware” and “advertising” and refers to the malicious use of online advertising to spread malware by hiding malicious code within seemingly legitimate advertising content. The malicious software delivered can range from a simple exploit kit to ransomware or a more complex botnet, often with the intent of stealing personal information such as credit card numbers, passwords, or private data. Malvertising can be difficult to detect and typically requires a combination of strong anti-malware solutions, security monitoring, and regular security awareness training for users to mitigate the risk of infection.
  • Malware is a malicious software that is used to infiltrate a computer system without the user's knowledge or permission. It is designed to damage a system, compromise its security and/or steal data. Malware can come in many forms, such as viruses, worms, Trojans, ransomware, spyware, adware and rootkits. It can be used for various purposes, such as launching Distributed Denial of Service (DDoS) attacks, launching phishing attacks, and stealing confidential data. Malware can spread through different methods such as email, downloaded files, websites and even USB devices. As it is complex, intelligent, adaptive and capable of circumventing existing security solutions, it needs to be monitored constantly and prevented. Advanced technologies and solutions such as Artificial Intelligence (AI) can help in detecting and blocking malware, along with educating users on cyber security and security best practices.
  • Man-In-The-Browser (MITB) is a type of Trojan Horse malware attack in which remote malicious code is inserted into a web application’s browser, allowing a criminal to intercept, modify, and redirect credit card payments and other sensitive information. MITB works by injecting malicious script into a browser’s web traffic that may include keystroke logging, enabling the remote attacker to gain access to bank accounts and credit card information. While the user may not be able to detect the malicious code, it can be used to change the data that is passed between the browser and the web application. This type of sophisticated attack is difficult to detect and can be used to steal confidential information or perform unauthorized transactions. It is therefore essential that organizations have adequate security measures in place to protect against such cyber threats.
  • The term Man-In-The-Middle (MITM) is applied to a type of attack that exploits a vulnerability in a communication system, whereby the attacker gains control of the communication among two legitimate parties, allowing them to capture and alter data sent through the communication channel. The MITM attack interposes itself between the two legitimate parties, allowing the attacker to "eavesdrop" on the communication, intercept and modify data, or even impersonate one of the involved parties. This type of attack is especially dangerous because it can remain undetected and can be used to access sensitive data, redirect funds, or take over user accounts. MITM attacks can be mitigated by utilizing encryption protocols, secure channels for data transfers, and ensuring all communication is sent through verified sources.
  • A Man in the Middle Attack (MITM) is a type of cyber attack that occurs when a malicious actor infiltrates a communications session between two or more parties. The malicious actor inserts themselves into the session, allowing them to eavesdrop, manipulate or disrupt communications. MITM attacks can occur on both wired and wireless networks and are enabled by weaknesses in the underlying protocols or by latching onto unencrypted data. The goal of these attacks is usually to steal data, monitor activities, or hijack accounts. To mitigate against MITM attacks, organizations and users should follow best security practices such as encryption and authentication, as well as using up-to-date security software.
  • Mandatory Access Control (MAC) is a security system designed to restrict user access to data or resources by enforcing a predetermined set of rules based on an individual user's clearance level and category of data. It is commonly used in government and military organizations, where a hierarchy of users is established and there is an explicit need to control access to sensitive information. By assigning labels to both data and users and using these labels to specify access rights, MAC is able to regulate the flow of data between objects. It is most effective when employed in concert with other security methods, such as cryptography, to ensure complete integrity of confidential data.
  • Mandatory Sanctions Lists are lists of individuals, entities, and organizations that have been designated by the United Nations Security Council (UNSC) and the United Nations Security Council Sanctions Committee as associated with terrorists, organized crime, weapons of mass destruction, or other nefarious activities. It is illegal for any person, company, or entity to make any form of financial transaction with these individuals, entities, or organizations. Anti-money laundering experts must be aware of these lists and ensure that their clients or companies do not make any transactions with any entities on the lists. Failing to do so can result in criminal penalties and heavy fines.
  • Marketplace Fraud involves the use of digital platforms (such as websites, mobile applications or social media) to commit fraudulent activities. Examples of types of Marketplace Fraud include phishing scams, account takeovers, fake accounts, payment fraud, auction fraud and product counterfeiting. These scams can result in financial losses, compromised customer information, reputational damage and the legal implications of being involved in fraudulent activities. Organizations must have measures in place to detect, investigate and prevent Marketplace Fraud. This includes strategies for transaction monitoring, user authentication, and proactive tools to detect and prevent fraud before it occurs. Additionally, organizations must stay up-to-date on cyber security best practices, fraud prevention methods and emerging trends in fraud to keep their customer's data and finances safe.
  • A masquerade attack is a type of security breach that occurs when an attacker impersonates a legitimate user or service via stolen credentials or network spoofing. Specifically, the attacker poses as a trusted user to gain access to security-protected systems or data. This type of attack is incredibly difficult to detect, as the intruder appears to be a trusted user. This makes masquerade attacks a major security vulnerability, as attackers can easily gain access to confidential information, data, and applications. They can also use the stolen credentials to launch malicious activities, such as modifying or deleting data. Additionally, it’s difficult to prove that the attacker had malicious intent, as the credentials may have been shared with legitimate users. Organizations must implement strong authentication systems, monitor user activity, and educate users on the dangers of masquerade attacks to maintain strong security.
  • Mass Surveillance is the monitoring of a large group of people or objects by an organization or government. This form of surveillance is typically used to detect illegal activities, to protect national security, or to collect and analyze data on a large scale. Mass Surveillance involves the collection and analysis of large amounts of data from public and private sources, including data collected by government agencies. This data can be used to monitor the activities of individuals or track patterns of behavior of individuals or groups of people. Mass Surveillance is controversial, as it can be seen as infringing on civil liberties and the right to privacy. It has been used in many countries around the world, often leading to accusations of abuse and misuse of power.
  • MD5 (Message Digest 5) is a widely used cryptographic hash function with a 128-bit hash value. It is used to verify data integrity by producing a unique, fixed-length string of characters (known as a "hash") from a given input. The MD5 algorithm is used in various applications to verify the authenticity of data and to protect data from unauthorized modification. It is also used to generate "digital signatures" for data authentication. MD5 is one of the most secure hash algorithms available, due to its high level of security and the fact that it is difficult to reverse the hash back to its original data. However, the algorithm is not completely secure and can be broken with brute-force attack.
  • Medical Fraud is an illegal act involving a purposeful misrepresentation or deception of facts, primarily for the purpose of gaining financial or another form of benefit. It occurs in the delivery of healthcare services, when wrongful actions are taken by providers and other individuals to obtain financial gain while often disregarding the welfare of the patient. Examples of medical fraud include billing for services or supplies not provided, falsifying patient signatures and billing insurance companies multiple times for the same service. Medical fraud is typically accomplished through identity theft, false insurance claims, double billing, and upcoding. Medical fraud can result in serious financial damage, as well as the potential risk to public health caused by incorrect or medically inappropriate treatments.
  • Medical identity theft is an increasingly common form of fraud that involves the unauthorized use of an individual's personal information, such as name, address and Social Security number, to obtain or use medical services or products. The thief may use the information to obtain medical treatment, to buy prescription drugs, or to make false medical insurance claims. Victims of medical identity theft may find their medical files have been altered, their medical bills are not accurate, and they may be denied future benefits or be held liable for debts. Medical identity theft can also cause long-term damage to an individual's health, credit and reputation. To help protect yourself, always be vigilant with your personal information and always verify the authenticity of any requests for it.
  • The Middle East and North Africa Financial Action Task Force (MENAFATF) is an intergovernmental organization that works to combat money laundering and other forms of financial crime. It is made up of 21 member countries from the Middle East and North Africa, including Bahrain, Egypt, Iran, Jordan, Lebanon, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. It was established in 2004, with the goal of providing a regional response to money laundering and terrorist financing. It does this by setting international standards, conducting mutual evaluations, and promoting the implementation of legislation and regulations in member countries. It also works to raise awareness and understanding of the risks associated with money laundering and terrorist financing in the region.
  • Mirror trades are a type of money laundering scheme where two similar trades are conducted simultaneously in different countries. The intention is to disguise the origin of the money by creating a false trail of transactions and ultimately transfer funds from one entity to another without reporting it to the authorities. This is done by using two financial institutions located in different countries, and executing two similar trades of the same size, but in different currencies. Mirror trades are often used to move large sums of money without detection.
  • The MITRE ATT&CK™ Framework is a comprehensive knowledge base of adversary tactics and techniques based on real-world observations. It is designed to provide security professionals with a structure for understanding, assessing, and improving their security posture. The framework allows an organization to identify, analyze, and defend against cyber adversaries by providing a list of common adversary techniques along with key activity categories and specific tactics, techniques, and procedures (TTPs) used by adversaries. This can provide security teams with better knowledge of attackers’ behaviors and the capability to better manage and mitigate risk. By providing a comprehensive view of adversary behavior, the MITRE ATT&CK™ Framework helps security professionals improve their security posture and more effectively detect, respond to, and prevent attacks.
  • Mobile Device Analysis is a process of analyzing mobile device data and metadata to better understand the cause and outcome of security issues, and potential fraud or malicious activity. It entails looking at activities, apps, hardware and software, as well as user behaviors on and around the device. This analysis can be used to detect threats, characterize an attack and help develop mitigation strategies as needed. Mobile Device Analysis can be used to identify risks such as device misuse and unauthorized access to enterprise data and networks, as well as suspicious and abnormal device activity. It also helps identify any malware or malicious features, as well as any data manipulation. Combining Mobile Device Analysis with criminal, cyber and corporate fraud investigation methods and data helps to accurately contextualize and understand security issues.
  • Mobile Phone Fraud is a form of fraud that takes place through a device connected to a wireless network. It typically involves criminals using a stolen or cloned cell phone to access accounts, send text messages, make calls, and intercept calls without the user's knowledge. Mobile phone fraud can also take the form of stealing data stored on the device. It may include unauthorized access to an accounts, fraudulent calls and messages sent from the stolen phone, and using the stolen device to gain access to passwords, personal data and credit card information. In some cases, the fraudster will even use the device to carry out more complex activities such as identity theft, money laundering, and cyber attacking. Protecting your device from mobile phone fraud requires strong passwords and encryption, regularly checking logs and alerts from your phone, and taking extra precautions when accessing public Wi-Fi.
  • Mobile security, also known as mSecurity, is the practice of ensuring the safety of confidential information and assets, as well as the security of mobile devices and networks, when accessing the internet or connecting to networks through mobile devices. This includes the use of encryption technology, secure authentication processes and secure authorization frameworks to protect data and system components. Mobile security also includes the protection of mobile devices from malicious programs, such as viruses and malware, as well as the security of data transferred between devices and networks. To ensure protection, organizations must ensure that mobile technologies are updated and patched regularly to prevent attacks and breaches.
  • Money laundering is a process of disguising illegal profits or funds obtained from criminal activities such as drug trafficking, corruption, terrorism, or other financial crimes. It involves moving money between different accounts or entities so as to hide its criminal origins. Money laundering typically has three stages: placement, layering, and integration. In the placement stage, criminals try to place their illicit proceeds into the financial system. Layering is the process of obscuring the audit trail by moving funds through multiple accounts. The integration stage is where the money is put into a legitimate stream after laundering and is available for use. Common methods of Money laundering include offshore banking, shell companies, and false invoicing.
  • Money Laundering is the process of disguising illicitly obtained funds or assets to make them appear as legitimate income. It involves three distinct phases. The first phase is placement, during which illicit funds are introduced into the financial system. This is often done through methods such as making cash deposits or using cash to purchase assets. The second phase is layering, where the funds are moved around using complex financial transactions to further conceal the origin of the funds. The third phase is integration, where the funds are placed in legitimate businesses or investments to create a legitimate source of income. Money laundering has been used to fund criminal activities such as terrorist attacks, drug trafficking, and bribery.
  • Money laundering is defined as the process of disguising the proceeds of criminal activity to make them appear as if they are legitimate. It involves disguising the source of criminal proceeds, typically by passing money through a series of transactions and companies to hide the ownership and control of funds. Money laundering regulations are in place to ensure that all financial activities are tracked, monitored and reported to the appropriate authorities. Money laundering regulations require institutions and individuals to report suspicious activities and transactions, implement anti-money laundering compliance programs, and implement customer due diligence procedures. These regulations are in place to prevent the use of the financial system for illegal activities and to protect the integrity of the financial system.
  • A Money Laundering Reporting Officer (MLRO) is an individual with the responsibility of overseeing and maintaining a company's anti-money laundering compliance program. The MLRO is typically appointed by a business's senior management, and is usually either a legal professional, or a senior executive in the company. The MLRO is responsible for monitoring and reporting any suspicious activities that might be related to money laundering. This involves identifying, assessing, and reporting any suspicious activities, as well as implementing systems and procedures to ensure that the company's compliance program is effective. The MLRO must have a thorough understanding of relevant legislation and regulations, and must also be able to develop and maintain effective relationships with external organizations such as law enforcement and regulatory authorities.
  • Money mules are people or organizations who are used unwittingly to transfer stolen funds or funds that originate from malicious activities, such as scams or fraud. Money mules typically have established bank accounts, which they use to receive stolen funds that appear in their accounts without any suspicion as to where it came from. The mules then withdraw the money or transfer it to another account. This type of activity is often associated with organized crime, and can result in legal repercussions for the participants. Money mules can also be utilized in internet fraud, where stolen funds are routed from one account to another in an effort to avoid detection.
  • Money remitters are a type of financial service provider that facilitate the transfer of funds between two or more parties without relying on a traditional banking institution. They provide a faster, and often more cost-effective way of moving money, usually from a sender to a receiver in another country. Money remitters may be individuals or businesses, but are typically regulated by the relevant financial authority and must adhere to strict requirements such as submission of required compliance documents before being able to offer these services. Money remitters are also expected to actively monitor their client's transactions and report any suspicious activity to the appropriate anti-money laundering and counter-terrorism financing authorities.
  • A Money Services Business (MSB) is a business that provides customers with financial services such as money transmission, currency exchange, check cashing, and the sale of prepaid access that lets customers store funds or purchase goods and services. MSBs are regulated by the Financial Crimes Enforcement Network (FinCEN) and must adhere to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. MSB customers must be identified, verified and monitored to ensure compliance with all applicable laws. MSBs must also establish, maintain, and update policies, procedures and internal controls for detecting, monitoring, and reporting suspicious activity.
  • Money Transfer Service (MTS), also known as Value Transfer Service (VTS), is a service used to transfer funds between individuals, groups, or organizations. The service facilitates the movement of funds, often through third-party companies, typically without the use of a banking system. It is used by a variety of individuals and entities including businesses, government, international organizations, and individuals. Money Transfer Services can be used for a variety of purposes, such as transferring money from one party to another, transferring wages, remitting money from a foreign country, emergency payments, or even for charity. Money Transfer Services are highly regulated and are strictly monitored for any suspicious transactions, as they may be used to launder money illegally.
  • Moneyval is an acronym for the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism. It is a monitoring body of the Council of Europe, composed of independent experts from 30 European countries. Moneyval evaluates and monitors the implementation of anti-money laundering and countering the financing of terrorism measures in the countries it oversees. It assesses the effectiveness of the legal, institutional and operational frameworks in place to prevent money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. Moneyval also provides technical assistance and guidance to countries in need of implementation, improvement or enforcement of their anti-money laundering/countering the financing of terrorism (AML/CFT) frameworks.
  • Monitoring is a critical component of an anti-money laundering program. It involves an ongoing effort to detect and report any suspicious activity that may indicate money laundering or other financial crimes. This includes regular reviews of customer records, transactions and financial activities for signs of suspicious activities. It also includes maintaining records and filing reports to the relevant government agencies in accordance with local regulations. Monitoring activities also involve identifying and responding to any new money laundering threats and trends, as well as educating staff on current laws, regulations, and best practices.
  • Monoculture is a cyber security term that describes the prevalence of certain operating systems, software, or other technology within an organization or system. Monoculture can occur due to the lack of diversity in technology stacks; when the same types of operating systems, software, or other technology are used across an organization or system, it makes them more susceptible to attack. Monoculture poses a security threat as any type of vulnerability or attack would affect all components of a system that are part of this monoculture. By having a diverse set of components, an attack would be limited to only one part of the system and not the entire system. Therefore, organizations must strive to create a technology stack that incorporates elements from multiple vendors, operating systems, and software versions to reduce the risk of monocultures and the potential damage they could cause.
  • The Morris Worm was a computer worm created in 1988 by Robert Tappan Morris, a graduate student at Cornell University. It was the first computer worm to be released into the wild, and the first to spread through the internet. The Morris Worm was capable of rapidly replicating itself, using remote computers to copy itself and spread further. The worm was released on November 2, 1988, and caused widespread disruption throughout the early internet, as it was not designed to cause malicious damage. The Morris Worm was able to exploit various vulnerabilities in the computer systems of that time, such as weak usernames and passwords, as well as weak system configurations. It was also able to take advantage of the fact that many computers were connected to the internet with little or no security. The Morris Worm was eventually contained, but the incident ultimately resulted in increased awareness of the need for increased security measures on computers connected to the internet.
  • Mortgage fraud is a type of financial fraud that involves misrepresenting information or making false statements related to a mortgage loan. It could be done by a borrower, a property appraiser, a closing agent, or a lender. It typically involves overstating one's income or assets, lying about employment, listing fake or exaggerated debts, or submitting false or forged documents. Mortgage fraud can be motivated by the aim to illegally obtain financing or to receive a larger loan amount than what was originally qualified for. The most frequent type of mortgage fraud is loan origination fraud, which usually involves the borrower or loan officer lying about the loan terms or application information. Mortgage fraud can result in costly penalties and legal repercussions.
  • Mousetrapping is a type of cyber scam where malicious individuals deceive victims into clicking on a malicious link or entering personal information into a malicious website. This practice is one of the most common online scams and is used to capture victims' confidential information such as credit card numbers, passwords and other confidential data. When a victim clicks on a malicious link or provides information to a malicious website, the malicious actor gains access to the victim's computer and uses it to deploy malware and malicious files. Mousetrapping is often used by hackers as part of a greater effort to exploit potential victims, create fraudulent identities and conduct illegal activities such as identity theft, financial fraud and cyber theft.
  • Multi-cast is a networking technology that enables one source of data to be sent to multiple recipients simultaneously. This technology requires the use of dedicated protocols such as Internet Group Management Protocol (IGMP) and Protocol-Independent Multicast (PIM) to make it possible. Multi-cast is a popular technology used by businesses and organizations that require data to be sent to multiple locations with a single transmission. By enabling fewer transmissions and requiring less bandwidth, multicast can greatly increase the efficiency of network resources while reducing the costs associated with network usage. Additionally, multicast can secure data transmissions by providing authentication, preventing unauthorized access to data, and ensuring privacy.
  • Multi-Factor Authentication (MFA) is an authentication methodology that requires users to provide multiple pieces of authentication evidence when logging into a system. This evidence can come from a combination of factors, such as something that the user possesses (like a device or token), something that the user knows (like a username or password), or something that identifies the user (like a biometric identifier, like a fingerprint). MFA is designed to make authentication more secure, since a user must provide multiple pieces of authentication evidence that is harder for a cybercriminal to obtain or spoof.
  • A Multi-Homed Network is a type of network architecture which uses multiple Internet Service Providers (ISPs) or network vendors to provide redundant network connections and additional bandwidth to an organization. It is used by organizations to offer a reliable, secure and resilient network infrastructure with redundancy. The Multi-homed network architecture includes a private Local Area Network (LAN) or Wide Area Network (WAN) which is connected to multiple redundant ISPs or vendors. A router or a firewall is used to manage the incoming and outgoing traffic and the routing protocols used are BGP or OSPF. This provides a secure, reliable and fault-tolerant network infrastructure with a high degree of network availability and scalability.
  • Multi-jurisdictional investigations are a type of financial investigation that involve multiple countries and jurisdictions to uncover financial crimes. This is especially relevant in cases of money laundering, since money launderers often move funds through multiple jurisdictions. These investigations involve collaboration and coordination between law enforcement and hundreds of financial institutions across the world to identify, trace, and seize illegally obtained funds. Additionally, international organizations, such as the United Nations, the International Monetary Fund, and the World Bank are often involved in multi-jurisdictional investigations to ensure that all jurisdictions are working in unison to combat financial crime.
  • Multilateral sanctions are international restrictions imposed on an entity or country by a number of countries, rather than just one country. These sanctions can be imposed for a variety of reasons, including political, economic, or military reasons. These sanctions are often referred to as “robust” because they are much more difficult to bypass or evade than unilateral sanctions imposed by a single country. Multilateral sanctions can include asset freezes, travel bans, trade restrictions, or other economic measures. These measures are aimed at punishing and deterring entities or countries from engaging in activities deemed to be a threat to international security, such as money laundering or funding terrorism. Multilateral sanctions are an important tool in the fight against organized crime and the illegal financing of terrorist activities.
  • Multiplexing is a process in data communication technology that allows many different types of data to be transmitted simultaneously over a single communication line. It is often used in telecommunications networks and computer networks because it allows for efficient use of transmission bandwidth and allows multiple data streams to share the same communication resources more effectively. It works by multiplexing multiple incoming data signals into a single outgoing data signal. This can be done in two ways, time-division multiplexing (TDM) or frequency-division multiplexing (FDM). In TDM, multiple data signals are divided into packets of information that are sent sequentially over a single communication line. In FDM, multiple data signals are divided into different frequency bands and are sent over the same communication line simultaneously. Multiplexing can be used to increase the data capacity of a single communication line, improve data latency, and increase data transfer rate.
  • A Mutual Evaluation Report (MER) is a comprehensive assessment of a country's level of compliance with the Financial Action Task Force (FATF) guidelines. The report is produced by an assessor country and provided to the FATF to evaluate a jurisdiction's anti-money laundering (AML) and counter-terrorist financing (CTF) system. The MER is based on an in-depth review of the jurisdiction’s legal framework, financial sectors, and other relevant sectors, and the effectiveness of their AML/CTF measures. The MER also provides the country with feedback and recommendations to help them improve their AML/CTF measures. The report is an important tool in helping countries identify weaknesses in their AML/CTF regimes and take appropriate action.
  • A Mutual Legal Assistance Treaty (MLAT) is an agreement between two or more states to provide mutual legal assistance in the investigation and prosecution of criminal activity. It allows for the exchange of evidence and other forms of cooperation between the states in order to bring criminals to justice. A MLAT also allows for international cooperation in anti-money laundering and other financial crimes. This type of agreement is essential for the effective prosecution of cross-border crimes and the prevention of money laundering.
  • Name Screening is a process used to identify and assess the risk of individuals and entities being involved in money laundering activities. It involves comparing a customer's information against various lists of entities and individuals that are known to be problematic. This process is important in an Anti-Money Laundering (AML) program to ensure that customers and counterparties are not being used to facilitate money laundering activities. Name Screening includes both internal lists of prohibitive entities, such as Politically Exposed Persons (PEPs), and external lists from sources such as the Office of Foreign Assets Control (OFAC). By screening customer names, AML experts can identify individuals or entities that may be involved in money laundering and take appropriate actions to address their risk.
  • Naming conventions are formal guidelines that help organizations ensure that documents and data can be easily identified and organized. They help ensure that data is named in a consistent and uniform way, using a standard system. Naming conventions often include rules for the length of data files or databases, the types of characters allowed in the name, and the order of words used in the name. Naming conventions help organizations prevent data loss, confusion, and duplicate data, as well as facilitate ease of access and retrieval. Ultimately, they ensure that data is organized and named in a way that is easy to understand and maintain.
  • Network Address Translation (NAT) is a protocol used in computer networks to map a public IP address to a private IP address. It converts packets sent from the private IP address to the public IP, allowing communication between two computers on the same network, but with different IP addresses. NAT is used for various reasons such as increasing network security, reducing IP address exhaustion and conserving public IP addresses. It also provides a way for users to connect to the internet without having to purchase a publicly routable IP address from their service provider. NAT is secure because it makes it difficult for outside computers to detect the internal IP addresses. NAT technology is used in many wireless networks and VPNs to create a secure connection between internet users.
  • The National Crime Agency (NCA) is the United Kingdom's lead agency for tackling serious and organized crime. It is a law enforcement agency set up to co-ordinate and lead the fight to cut serious and organized crime across the UK. The NCA works in partnership with UK and international law enforcement and other partners to combat money laundering and financial crime. It has a wide range of powers to investigate and disrupt money laundering activity, and is supported by specialist teams of financial investigators, international liaison officers and analysts who work with intelligence and enforcement agencies to identify and pursue those responsible. The NCA also works with international partners to help tackle the global threat of money laundering.
  • The National Institute of Standards and Technology (NIST) is a non-regulatory agency of the United States Department of Commerce. It has the mission of promoting innovation and industrial competitiveness through advances in measurement science, standards and technology. NIST is the premiere source of standards-based cybersecurity guidance, which provides the framework for organizations to build, assess and improve their cybersecurity programs. NIST has developed an extensive series of Security and Privacy publications that provide detailed guidance on best practices for organizations to protect themselves from cyber-attacks, including the NIST Cybersecurity Framework, the Federal Information Processing Standards (FIPS) and the Recommended Security Controls. NIST’s guidance is used by businesses, government agencies, educational institutions, and individuals to protect their systems and data from malicious actors. Additionally, NIST’s work helps to ensure consistency in the(...)
  • A natural disaster is an event (such as a hurricane, tornado, flood, earthquake, or wildfire) that involves a natural process, and results in adverse effects to the environment, property, and lives of those affected. Natural disasters can be caused by a variety of physical and chemical processes, including floods from excessive rainfall, landslides from earthquakes, and wildfires from extreme heat and drought. Natural disasters can also have economic and social impacts, as they disrupt normal activities, and cause long-term stress and economic loss. As a cybersecurity expert, I understand that natural disasters can create pathways for cyber attack, as they disrupt normal Cybersecurity measures and can cause wide spread system outages. It is important to have a plan in place to protect businesses and individuals from natural disasters and the associated cyber-security risks.
  • Nested accounts are a type of financial activity used to obscure the true source of funds by transferring money between multiple accounts. This is done by using one account to transfer money to another account, and then transferring the money from the second account to a third account, and so on. This nesting of accounts makes it difficult to track the source of funds or to identify who is the ultimate beneficiary of the funds. It is a form of money laundering used to disguise the true origin and ownership of funds.
  • Nesting is a type of money laundering scheme which works by concealing the origin of the illegal funds by transferring the funds through multiple intermediary transactions. A common method of nesting is to use multiple layers of complex transactions to break up large sums of money. Funds are sent on circuitous routes, through multiple bank accounts or entities, to make it difficult to track the origins of the money. This technique is also known as layering, and is often used in combination with using offshore accounts to further obfuscate the source of the funds.
  • Netmask is a network tool used to define the network range of an IP address. It is a bitmask that is used to break up an IP address into the network and host segments. The network portion of the IP address indicates the network and subnet the host belongs to, while the host portion identifies the particular device within the given network. In IPv4, a netmask consists of 4 bytes (8 bits each), typically written in the form of 4 octets in the format 255.255.255.0. A netmask of 255.255.255.0 allows for up to 256 unique IP addresses in the network. Netmask is important in network and internet security as it helps to determine which computers have access to each other, and which networks they can communicate with.
  • Network Access Control (NAC) is a security solution that helps regulate access to a network by monitoring and controlling the user’s access to network resources. This process generally requires user authentication to verify the user’s identity and authorization to validate the user’s permissions. NAC also can enforce policy compliance by monitoring the user’s system configuration, including software updates and anti-virus/anti-malware applications. By using NAC, organizations can reduce the risk of unauthorized access, malware, and data theft. It also helps organizations meet compliance and regulatory requirements. NAC solutions can include a firewall, Virtual Private Network (VPN) or Remote Access Services (RAS). NAC security solutions provide a comprehensive view of the user’s system and classify the user’s access accordingly to grant them appropriate access to the network.
  • Network Address Translation (NAT) is the process of a network device, such as a firewall or router, taking one or more internal IP addresses and translating them into external IP addresses. This is done in order to provide a unique external IP address to the internal network, while maintaining the same internal network configuration. By using NAT, the firewall or router can hide the internal IP addresses from the external network, thus providing a level of protection and security to the internal network. Additionally, NAT can be useful for conserving public IP addresses, as multiple internal systems can use the same public IP address. NAT can be configured in both software and hardware depending on the security requirements of the internal network.
  • Network-based CyberSecurity is the practice of protecting an organization's network, systems and data from unauthorized access, misuse and alteration. It includes security policies, processes, procedures, technologies and controls that are used to protect an organization’s digital assets. Network-based CyberSecurity focuses on identifying and preventing malicious activities in an organization’s digital environment, such as attacks from viruses, spyware, ransomware, and other malicious actors. Additionally, it provides access controls, firewalls, encryption, and other forms of preventative measures to eliminate or reduce the risk of a successful cyber attack. The goal of Network-based CyberSecurity is to keep data secure, protect against unauthorized users, and increase overall organizational resilience.
  • Network-Based Intrusion Detection System (IDS) is a security system designed to analyze and detect malicious activity on a computer network. It is composed of a monitoring device that actively scans internal traffic and logs any suspicious activity. The logged data is then evaluated against known malicious behavior and reported to an administrator. Network-Based IDS can detect various types of malicious activity such as malicious ports scanning, buffer overflow attacks, denial of service attacks, malformed packets, and inappropriate content. Network-Based IDS is an important tool for network security, as it provides an extra layer of defense against outside threats and can be used to monitor suspicious activity and respond quickly to threats.
  • Network Mapping is the act of discovering, mapping, and visualizing the connections, nodes, and flow of data within a network. By charting out an environment’s network infrastructure, Cybersecurity Experts can identify vulnerabilities and potential attack vectors, ensuring businesses are adequately protected. Network Mapping details IP address ranges, open ports, protocols, and layer 4-7 services to create an inventory of assets, enabling Cybersecurity Experts to identify gaps in the security architecture. By understanding the relationships between assets and applications, network mappers can spot weak links and develop mitigation strategies to reduce risk.
  • Network Security refers to the process of using certain technologies, processes and policies to protect a network and its resources from data breaches and unauthorized access. This includes the implementation of secure protocols, firewalls, and encryption techniques to protect data from malicious actors. Additionally, network security helps to prevent data loss and maintain the confidentiality, integrity, and availability of critical infrastructure, applications and data. Network security also refers to processes used to monitor, detect and respond to incidents of unauthorized access in order to prevent exploitation and minimize damages caused by malicious attacks.
  • A network tap is a device used to gain access to communications within a given network. It operates by connecting inline to the communications link and creating two additional connections, one for a monitoring device and one for the original link. It can be used for gathering data for network performance analysis, network troubleshooting, or for security purposes. Network Taps offer the advantage of being able to monitor all traffic on the link, regardless of its layer, protocol or encryption. This is done without altering or disrupting the signal, allowing the security administrator to better understand what is happening over the network. Network Taps are an essential tool in the arsenal of any Cybersecurity Expert.
  • A neural network is a type of artificial intelligence (AI) that uses a set of interconnected nodes to simulate how a human brain works. It is capable of taking input in the form of data or patterns and determining whether the data or pattern is useful or not. Neural networks learn by breaking down complex problems into simpler tasks, making it easier to find solutions. Neural networks can be used for classification, detection and forecasting tasks in industries such as finance, healthcare, and cybersecurity. They are also helpful in helping to detect fraud, malware, and other forms of cyber-attacks. Neural networks have the capability of improving themselves as more data is fed in, as they are able to create more accurate and reliable results as data is gradually accumulated.
  • A Nominee Director or Shareholder is an individual or entity appointed by a third party to act on its behalf in the management and/or ownership of a company. This arrangement allows the third party to remain anonymous and limits their potential liability and exposure to regulators. As an Anti-Money Laundering Expert, it is important to identify when a nominee may be involved in a corporate structure, as this may indicate a possible money laundering risk. This means developing a strong understanding of the underlying beneficial owners, their roles and responsibilities in the company, and the potential risks associated with their involvement.
  • A Non-Governmental Organization (NGO) is a non-profit organization that is typically independent from government and often works on local, regional or international development initiatives, such as providing aid to vulnerable populations or supporting environmental causes. NGOs are typically funded by a variety of sources, such as private donors, government grants, foundations, or corporate sponsorships. NGOs are held to the same standard as other organizations when it comes to anti-money laundering regulations, and they are required to take active steps to ensure their funds are not being used for criminal activities.
  • Non-Profit Organizations (NPOs) are entities that are formed and operated to pursue a charitable, educational, religious, literary or scientific purpose. They typically have a mission and purpose that benefits the public good, rather than generating profits for private interests. NPOs typically generate their income from donations, grants, and fees for services they provide. NPOs are not typically subject to taxation as long as they adhere to all applicable regulations and operate in accordance with their stated mission and purpose. NPOs have a responsibility to act in the public interest, be accountable and transparent in their activities, and must avoid conflicted interests or activities that are not in line with their mission and purpose.
  • The Non-Proliferation Treaty (NPT) is an international treaty aimed at preventing the spread of nuclear weapons and weapons technology. It was signed by the United States, the United Kingdom, and the Soviet Union (now Russia) in 1968 and entered into force in 1970. The treaty is the cornerstone of the global non-proliferation regime, and applies to all states, regardless of whether they possess nuclear weapons or not. Under the terms of the NPT, non-nuclear weapon states undertake not to acquire, develop, or transfer nuclear weapons or other nuclear explosive devices, while nuclear weapon states agree to not transfer nuclear weapons or other forms of nuclear explosive devices to non-nuclear weapon states. Additionally, all states-parties must cooperate in the peaceful use of nuclear energy.
  • Non-repudiation is a key concept in cyber security. It is a security measure that prevents a sender or receiver of information from denying that they sent or received specific data. This is useful because it allows for a digital chain of evidence to be established and maintained, as well as proving that certain digital information has not been tampered with. Non-repudiation is commonly used in digital contracts, digital forensics, and digital certificates in order to verify the authenticity of documents. It is also useful in digital transactions, as it allows the recipient of funds to prove that funds were received. Non-repudiation can be implemented by implementing digital signatures, cryptographic methods, or timestamping.
  • Null Session is a networking protocol where a user can access remote network shares or IPC (Inter-Process Communication) resources without providing any credentials. It is mainly used by system administrators in order to connect to machines on the network, or by hackers to gain access to sensitive information. Null Sessions have been used to exploit Windows systems in the past, by being used to access shadow passwords and other sensitive information. To prevent these user sessions from being used for malicious purposes, administrators should disable null sessions on their network, or thoroughly monitor user logins. Other measures such as using secure passwords and other authentication methods can also help.
  • The Office of Financial Sanctions Implementation (OFSI) is an organization within the HM Treasury of the United Kingdom that works to ensure compliance with financial sanctions. OFSI provides advice and guidance to UK organizations on financial sanctions, and works closely with other relevant public and private sector organizations to help them understand and comply with the relevant legislation. OFSI also maintains and publishes lists of individuals and entities subject to financial sanctions, and works to ensure that those named comply with the sanctions imposed. In addition, OFSI has the power to investigate potential breaches of financial sanctions and to impose penalties on those who have not complied. OFSI seeks to ensure the efficacy of the UK’s financial sanctions regime and works to identify, investigate and deter those who seek to evade or breach financial sanctions.
  • The Office of Foreign Assets Control (OFAC) is a US government organization within the US Department of the Treasury responsible for administering and enforcing economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries, organizations and individuals. OFAC's mission is to protect the US financial system from being abused by terrorists and other bad actors by blocking assets, prohibiting transactions, and prohibiting US companies and individuals from engaging in transactions or dealings with those targeted. OFAC also works to protect the US economy by ensuring that companies, individuals, and entities comply with the US' sanctions programs.
  • The Office of the Superintendent of Financial Institutions (OSFI) is Canada's federal financial regulator. It is responsible for supervising and regulating all federally regulated financial institutions, such as banks, trust companies, insurance companies, pension funds, and loan and trust companies. OSFI works to ensure that these organizations meet their obligations to the public, and comply with all applicable laws. The organization’s primary aim is to protect the public from financial loss by ensuring that the financial institutions under its jurisdiction are well managed and operate soundly. OSFI also works to protect Canada’s financial system by setting and monitoring compliance standards, promoting sound business practices, and ensuring the safety and soundness of the institutions it regulates. The organization also works to detect, prevent and deter money laundering, terrorist financing, and other financial crimes.
  • Offshore banking is a type of banking that is conducted outside of a person's home country. It allows individuals and corporations to deposit and manage funds in a foreign jurisdiction. The primary purpose of offshore banking is to take advantage of the different laws, regulations and tax treatments available in other countries. Offshore banks often provide more privacy and fewer restrictions than domestic banks, making them attractive to people who wish to keep their financial affairs private or to lower their tax burden. Offshore banks may also offer higher interest rates or access to investments that are not available domestically.
  • An Offshore Banking License is a permit or authorization granted by a country or jurisdiction to an entity, allowing it to engage in banking activities in the specified jurisdiction. It usually involves the ability to accept deposits, issue loans and provide other financial services, such as money transfers and currency exchange. Offshore banking has become more popular in recent years, due to the relative ease at which money can be transferred, and because of the privacy associated with these types of banking accounts. However, Anti-Money Laundering experts, such as myself, must ensure that all offshore banking activities are properly regulated and monitored, in order to protect against money laundering and terrorist financing.
  • An Offshore Financial Center (OFC) is a jurisdiction that provides financial services to non-residents on a scale that is significant relative to the size and the financing of its domestic economy. OFCs specialize in complex financial services such as banking, trust, asset management and insurance. More recently, OFCs have also become a type of international tax haven, as they offer financial services with a low or zero tax rate. To combat money laundering, OFCs are required to comply with international standards that regulate their operations and require them to report suspicious transactions.
  • Omnichannel is a term used for customer experience, which involves providing a seamless customer experience across all customer touchpoints such as in-store, online, mobile, email and social media. Omnichannel is an integrated approach to customer service, making it easier for shoppers to shop how they choose, whenever they choose and from wherever they are. It includes ensuring customer service and data security are consistent when customers interact with businesses across any device. Additionally, businesses should ensure the technology they use has the ability to sync customer data and process transactions between customers, merchants and financial institutions to ensure the customer journey is as smooth and secure as possible.
  • On-premise software is a type of software that is installed and managed on a business's own hardware. It is a self-hosted solution that is managed on the business’s servers, computers, or other hardware, as opposed to hosted in the cloud. On-premise software is best suited for businesses that require a complex and high performance system, or have very specific security or compliance requirements. Benefits of on-premise software include greater control, improved security, better performance, and easier customization. Additionally, on-premise software is typically more cost effective in the long term than software hosted in the cloud due to the savings in server maintenance and hosting costs.
  • A One-Time Password (OTP) is a type of authentication that is used to verify the identity of the user of a service. It is a unique, temporary password that is generated and sent to the user during a transaction. The user must then enter the OTP to verify their identity before the transaction can be completed. OTPs are designed to be used only once to prevent unauthorized access and are usually time-sensitive. The most common use of OTPs is for banking transactions, but they can also be used in online shopping, two-factor authentication, and other areas where an extra layer of security is needed. OTPs are typically sent via email, SMS message, or an authenticating app, and are often combined with other security measures, such as biometrics, to increase security.
  • One-way encryption, also known as a one-way hash function, is a type of cryptography that is irreversible. It is used to ensure the security and integrity of data, as the encrypted data cannot be decrypted back to its original form. This allows for sensitive information such as passwords and banking credentials to be securely stored in a database. With one-way encryption, the only way to access the original data is by knowing the key used to encrypt it. Without the key, the data is permanently in a hashed form, making it impossible to decrypt. This type of encryption also provides a way to verify data integrity, as any changes to the data will result in a different encrypted output.
  • A one-way function is a mathematical function that is easy to compute for any given input, but that produces a unique output that is difficult, if not impossible, to reverse back to the input given only the output. In other words, it is impossible or impossible to predict the input if you know the output. This type of one-way function is used in many areas of cryptography, digital signatures and other security tasks, as it ensures that the original input remains protected and secure. The most common example of a one-way function is the hash function, which takes any input and produces a unique output of a fixed length by changing the input. This makes it impossible to guess the input given only the output of the hash function.
  • Open Authorization (OAuth) is a secure authorization and authentication protocol that enables users to authorize third-party applications to access their data without requiring them to share their passwords. It is an open standard since 2010 which provides a secure communication channel between a client and a server. It is widely adopted across the internet as a way to enable secure access to online services. OAuth works by giving users a token instead of a password, allowing users to securely authenticate with their credentials without sacrificing account security. By authorizing applications through OAuth, users can control exactly which data and services the applications can access on their behalf. This provides a secure, efficient, and user-friendly way to authorize third-party applications.
  • Open Shortest Path First (OSPF) is an interior gateway protocol (IGP) for routing IP packets within a single autonomous system, such as a network. It is a link-state protocol, which means it uses the concept of cost or metric to determine the best path for a packet based on its characteristics. OSPF operates by sending periodic link-state advertisements (LSAs) out to all known hosts and routers on a network. Each LSA contains information about the router’s neighbors, as well as a path cost or metric for each link. Then, the OSPF uses a shortest path first algorithm to calculate the shortest path from source to destination and builds the routing table accordingly. OSPF is regarded as one of the most reliable and secure routing protocols for IP networks.
  • The Open Systems Interconnection (OSI) Model is a seven-layer network architecture model developed by the International Organization for Standardization (ISO) in 1984. It provides a conceptual framework for understanding how data flows across different networks and systems. The OSI Model provides a universal reference point for networking and communication to enable interoperability between multiple different devices and systems. Each layer of the model addresses specific networking functions, protocols, and systems with its services. These seven layers are: Physical Layer, Data Link Layer, Network Layer, Transport Layer, Session Layer, Presentation Layer, and Application Layer. The OSI Model enables effective and secure communication of data from one node to another, empowering different systems and networks to communicate with one another.
  • The Open Web Application Security Project (OWASP) is a non-profit organization focused on improving the security of web applications, specifically as it relates to preventing cyber attacks. The organization provides freely available resources which are designed to help software developers, security professionals, and the general public better understand and mitigate the risks associated with web application security. These resources include the OWASP Top 10 List, which is a regularly updated list of the ten most common and critical web application security risks, as well as documentation and training materials about how to best defend against them. OWASP also provides guidance to developers and a wide range of application-focused security tools, as well as certification schemes for measuring the effectiveness of software security programs.
  • OpenID is an open standard that provides users with a secure and convenient way to access multiple websites and services using a single identity. It works by allowing users to create an account and sign into multiple websites and services with a single set of credentials. OpenID also allows users to provide authentication information without having to enter their username and password multiple times. OpenID simplifies the user's authentication process and eliminates the need to remember multiple usernames and passwords. This makes OpenID a viable alternative for websites that require multiple logins or repeat user information. OpenID also supports the ability for third-party providers to verify the user's identity and store profile information. This allows users to move from one website to another with ease and trust.
  • Operational risk is the risk of loss resulting from inadequate or failed internal processes, personnel, or systems, or from external events, including legal risk. It is the risk of loss resulting from inadequate or failed processes, people (employees and other stakeholders) and systems or from external events. This could include a risk of loss resulting from insufficient or incorrect data, human error, a system interruption or a fraud or cybercrime event. It is the risk that an organization will be unable to execute its business objectives or achieve its desired results. Operational risk is becoming increasingly important as organizations are increasingly reliant on technology and automation processes. Effective management of operational risk is essential in order to protect an organization from potential financial and reputational losses.
  • The Organization for Economic Cooperation and Development (OECD) is an intergovernmental economic organization which has over thirty-five member countries and aims to promote policies that will improve the economic and social well-being of people around the world. The OECD provides a framework for governments to discuss and create fiscal policies which help to promote economic growth, employment, and investment. It also works to bring together governments to combat money laundering and terrorist financing. The OECD coordinates global initiatives on transparency, such as the Common Reporting Standard, which encourages governments to exchange information on taxpayers and their financial accounts in order to combat international tax evasion and money laundering.
  • The Open Systems Interconnection (OSI) Model is a seven-layer framework created to establish and maintain communication between two or more systems. Each layer is responsible for a different set of functions such as physical addressing, segmentation and reassembly, routing, data integrity checks, and error control. The OSI Model is a layered structure of protocols that defines how data is transmitted and received over a network. The layers are divided into two groups: the upper layers (Application, Presentation, and Session Layers) and the lower layers (Transport, Network, Data Link, and Physical Layers). The upper layers are responsible for establishing communication between applications and providing a transport protocol for application data. The lower layers are responsible for providing a reliable transport protocol for data delivery. Each layer in the OSI Model adds its own specific headers and trailers, creating a layered packet structure which is passed from one layer to(...)
  • Out-of-band authentication is a two-factor authentication system used to verify a user's identity by asking them to provide a second piece of information or code. This information isn't available to the malicious actor, so it makes it harder for them to gain access to an account. Examples of out-of-band authentication include entering an authentication code sent via SMS, e-mail or authenticator app, performing a physical authentication such as inserting a USB key or scanning a fingerprint or facial recognition to validate the identity. Out-of-band authentication is an important component of strong security systems and is becoming increasingly common in banking, government and other high security applications.
  • An outsider threat is a malicious actor that does not have legitimate or privileged access to an organization’s resources, but still poses a threat to an organization’s data, systems, and networks. Outsider threats can range from criminals perpetrating online fraud to state-sponsored actors conducting crimes on behalf of their nation. These threats can vary in their degree of sophistication and can potentially be conducted from anywhere in the world. It is the responsibility of the cybersecurity professional to recognize the potential risks posed by outsider threats, identify the appropriate countermeasures, and implement safeguards to mitigate the potential risks. This can include patching vulnerabilities, conducting regular security audits, implementing two-factor authentication, and ensuring physical security measures are in place.
  • Packet sniffing is a type of network analysis that involves the interception and logging of data traffic on a network. Packet sniffing is used to monitor, analyze, and debug networks, as well as detect intrusion attempts, malicious traffic, and other activities. The data packets captured through packet sniffing are analyzed to identify patterns and trends in the traffic to identify any potential misuses or malicious activities. Packet sniffing can be used to detect unauthorized access to a secure network and can be used to detect suspicious activities, such as malicious code being sent to vulnerable systems. Packet sniffing is a powerful tool that can be used for both legitimate and malicious purposes, and it is a critical component of an organizations cyber security program.
  • A packet sniffer is a type of network security tool used to identify, analyze, and monitor network traffic on a network. Packet sniffers work by “sniffing” packets of information being transmitted over a network. Packet sniffers capture and analyze the contents of each packet to help identify potential security threats, detect intrusions, and track network activities. They can help detect unauthorized or malicious users on a network, monitor malicious activities, and troubleshoot network issues. Packet sniffers can be used to detect man-in-the-middle attacks, denial-of-service attacks, and other malicious activities. They can also be used to detect applications or services that are not properly secured. Packet sniffers are often used by network administrators to maintain a secure and efficient network infrastructure.
  • Packet sniffing is a method of monitoring and capturing data packets from a network. It is commonly used to gain insight into the network traffic and troubleshoot network connectivity issues. It is also used for malicious operations such as intercepting passwords, email content and other sensitive information. Packet sniffing works by detecting and collecting data packets sent over a network by turning the network adapter into a promiscuous mode. This enables the machine to see all traffic transiting the network, including both incoming and outgoing packets. Malicious actors can use packet sniffing to gain access to private networks and the data they contain. For these reasons, it is important for organizations to implement effective security measures to protect against this type of attack.
  • Pagejacking is a type of cyberattack in which an attacker copies the look and feel of a legitimate website in order to deceive and phish for login credentials or other confidential information. This can be done by either copying all or part of the legitimate website, redirecting users from the legitimate website to the malicious site, or by creating a malicious website with a domain name that is very similar to the legitimate one. In addition to phishing, pagejacking can also be used to inject malicious scripts into users’ browsers in order to gather sensitive data, distribute malware, and hijack browser sessions. It is important for businesses and visitors of websites to remain vigilant and make sure that they are visiting the legitimate website and not a malicious copy.
  • Parental Controls are a set of digital tools that enable families to manage and monitor the Internet usage of their children. These tools can be used to enable access to age-appropriate content, limit exposure to explicit or potentially harmful material, and control the amount of time spent in front of a screen. Parental Controls also enable parents to block access to certain websites, restrict access to certain apps, and monitor activity logs. By implementing and monitoring these tools, parents can ensure that their children are safe, secure, and using their digital devices in an appropriate manner.
  • The Pass-Along Rate (PAR) is a measure of the effectiveness of anti-fraud and cyber security measures. It is used to measure the speed with which a malicious threat is detected and blocked. The PAR reflects the rate at which an organization or system detects malicious threats and blocks them before they reach their destination. It is an important indicator of the efficiency of an organization's security and helps measure the efficiency of the system in protecting users, networks and data. PAR is calculated by dividing the number of attempts blocked by the number of attempts made by an attacker. A higher PAR indicates greater success at preventing malicious threats. The rate of pass-along can also be used to represent the level of an organization's cyber security posture, providing information on its level of protection against threats.
  • Pass-Through Sanctions Risk is the risk that a financial institution’s customers or counterparties may be subject to sanctions due to activities of the institution itself. It occurs when a financial institution disregards the risk that its customers or counterparties may be engaging in activities which may result in them being subject to sanctions. It is the responsibility of financial institutions to effectively monitor and assess the risk of their customers or counterparties being subject to sanctions. This includes, but is not limited to, assessing their business activities, customers, and the jurisdictions in which they operate. By failing to adequately do this, a financial institution may leave itself open to sanctions-related risk, which can be devastating.
  • Passive Authentication is a security technique used to verify a person's identity without requiring them to actively present any credentials or proof of identification. Passive Authentication uses a variety of techniques to passively identify users including analyzing device characteristics, user behavior, location, and other environmental factors. It is often used in conjunction with more traditional authentication techniques such as passwords, PINs or biometric data. Passive Authentication can be used to secure online services, networks, or any other system or resource that requires identity verification. Because the process is largely automatic, it can provide a more secure, convenient, and secure access experience than traditional authentication methods.
  • A password is an authentication credential used to protect computer systems, applications, networks, and other confidential information. It is a security mechanism that is used by users to prove their identity and gain access to an account or application. Passwords are usually composed of a combination of letters and numbers and are designed to be difficult to guess. Passwords should be long, complex, and unique to an individual user. Additionally, they should be changed regularly to ensure security is maintained and protected from malicious threats. In order to keep up to date with the latest cybersecurity trends, users must understand the importance of strong, secure passwords and the potential risks associated with using weak or generic passwords.
  • Password Authentication Protocol (PAP) is a type of authentication protocol used to verify the identity of a user attempting to connect to a remote computer or network. PAP involves transferring a username and plain text password over a communication link to the authentication server. Upon receipt, the authentication server compares the transmitted credentials against those stored in the user database to determine whether the user is authorized access. If the username and password pair match, the user is granted access; otherwise, access is rejected. PAP is an insecure protocol since the password is transmitted in plain text across the communication link, making it susceptible to interception if not sent over an encrypted connection. As such, PAP is being replaced by more secure authentication protocols such as CHAP or Kerberos.
  • Password Cracking is a technique used to illegally gain access to a system or account by determining the correct password. It is usually done by trying to guess the password or by using a computer program to try to decode the password using a list of commonly used passwords, patterns, or brute force attack. Brute force attacks are used to generate a huge amount of possible passwords and test each one to see if it works. This can cause a lot of strain on the system and its owner may not even be aware that the attack is taking place. For this reason, it is important to keep passwords strong and secure to avoid password cracking.
  • Password security is the practice of ensuring secure access to digital systems, accounts and services by utilizing robust passwords. Password security protocols involve using secure passwords that are long, complex, and contain a combination of letters, numbers, and symbols for maximum protection. It also requires disabling auto-login features and avoiding using the same or similar passwords for different accounts. Additionally, effective password security requires regularly changing passwords and utilizing two-factor authentication (2FA) when available. Finally, password security protocols also include never sharing passwords with anyone, even those you trust, and vigilantly monitoring accounts for any suspicious activity.
  • Password sniffing is a type of cyber attack in which a malicious actor attempts to gain access to account information by intercepting credentials sent over a network. It is an illegal activity that is often done using a specialized tool or device. By sniffing the network traffic, an attacker is able to capture log in credentials and other information that passes through the network. This can give the attacker access to any account they are able to obtain the password for. It is important to understand the techniques used for password sniffing and how to protect against it. This includes ensuring that the network is secure, setting up secure access control mechanisms and employing encryption technologies to protect data in transit.
  • Password strength is a measure of the effectiveness of the security of a password or passphrase against being guessed by a malicious third party. It is determined by the length and complexity of the password, and whether it contains a mix of upper and lower case letters, numbers and special characters. This is important because stronger passwords are less likely to be guessed or cracked by attackers. Moreover, users should change their passwords regularly and not use the same password for multiple accounts. Furthermore, good password practices should be followed, such as not writing passwords down or sharing them with anybody else. These measures are important for keeping accounts safe and secure.
  • Patching is the process of applying a new piece of code to an existing piece of software or hardware to address a security flaw or fix a bug. Patching programs are especially important for cybersecurity experts as they help to protect computer systems from various malicious attacks. Without patching, a system may be exposed to potential attacks, infections, or data breaches. Patching is an ongoing process, as new exploits and potential threats are identified, new patches are applied to address them in order to secure the system. Patches may be released by the software or hardware developer, or they may be obtained from a third-party vulnerability assessment and management company.
  • Patch management is the process of utilizing a system in order to identify, test, and deploy security and software updates for devices connected to a network. It is a key component of successful cybersecurity management as it allows organizations to quickly and efficiently respond to new security threats or vulnerabilities. Patch management involves regularly assessing systems for updates, testing the updates, and then deploying the updates to the appropriate systems. Additionally, patching can be used to address other system issues such as performance, service pack updates, and bug fixes. In summary, patch management is an important process in today’s digital world as it allows organizations to remain compliant with industry regulations, protect their networks and data, and stay ahead of potential cyber threats.
  • Patching is a process in cyber security that involves updating vulnerable software, hardware and firmware with a downloadable software patch to fix security flaws and enhance existing functionality. It is the process of making small modifications to an existing computer program or system so that it works better or can be used for a different purpose. By applying patches, system administrators are able to identify and fix vulnerabilities quickly and efficiently, mitigating risk, providing more secure networks and protecting users from security threats. Patches are released by software and hardware vendors, typically as fixes for known security issues or to add new features to the software or hardware. Patches can also be custom-made by system administrators for their own specific needs and requirements.
  • The Patriot Act is a law passed by the US Congress in response to the terrorist attacks of September 11, 2001. It was enacted to strengthen national security and protect the US from further threats of terrorism. The Act expanded the authority of the US government to search, monitor, and prosecute individuals and organizations suspected of money laundering and other financial crimes. It also imposed strict regulations on businesses to ensure they are not aiding terrorists in any way. The Patriot Act has been widely criticized for its lack of privacy protections and its broad scope of enforcement.
  • A payable through account is a type of account that is used to facilitate a transaction between two parties. It is usually an intermediary account that both parties can access and use to transfer funds in a secure and transparent manner. This type of account is often used in anti-money laundering initiatives as it allows both parties to know exactly how much money is being transferred and where it is going. This type of account ensures that the funds involved in the transaction are properly documented and tracked for future auditing purposes. It is important for any organization to ensure that their funds are transferred legally and with full transparency.
  • Payables Fraud is a type of financial fraud that involves the misappropriation of funds or assets in accounts payable transactions. This includes manipulating invoices, falsifying data to gain unauthorised access and theft of company funds. It is a major issue for organisations and fraudsters can use various methods to obtain illegitimate benefits, such as phishing, invoicing schemes, altered cheques, fraudulent payments and false expenses. Fraud prevention and cyber security measures, such as training and education, should be implemented to ensure proper processes are followed and any suspicious activity is monitored and reported. Regular monitoring of accounts payable, reviews of invoice authorisation and limited access to sensitive financial and administrative systems can also help to mitigate financial fraud risk.
  • Paying Personal Expenses with company funds refers to the use of a company's assets for an individual's personal benefit. This is considered to be a form of fraud as the individual taking this action is misusing a company's funds for their own gain. It is an illegal practice and can lead to serious consequences if the individual is caught. It is important for companies to monitor the finances of their employees and to ensure that their assets are not used for personal expenses. Doing so can help to prevent theft and fraud, as well as ensure that the company remains compliant with local laws and regulations.
  • A payload is a set of information or actions that are sent with a malicious file or program. It typically contains malicious code, such as malware or a virus, that is intended to cause harm to computer systems or networks. Malicious payloads can be transmitted through a variety of different methods, such as email, website downloads, infected USB drives, and malicious messages sent over a network. Payloads may also be delivered through legitimate websites or applications that have been compromised. Cybersecurity experts take measures to identify and mitigate malicious payloads before they can be used to exploit a system or network.
  • The Payment Application Data Security Standard, commonly known as PA-DSS, is a compliance program developed by the Payment Card Industry Security Standards Council (PCI SSC). The standard is designed to increase security of payment applications used by merchants, service providers, and financial institutions. These applications are used to store, process, and transmit cardholder data as defined by the PCI Data Security Standard (PCI DSS). PA-DSS regulates the development, release, and maintenance of payment applications that store, process, and transmit cardholder data, to ensure that these applications are secure. The requirements are designed to prevent manipulation of applications and databases, reduce risk of data loss and unauthorized access, and help to protect cardholder data while providing robust controls over the software development process.
  • Payment card skimmers are malicious devices designed to steal confidential data from the magnetic stripe of credit and debit cards. They are typically installed in public areas such as ATM machines, gas pumps, and other point-of-sale (POS) systems. Skimmers operate by collecting a user's credit/debit card information, including the cardholder's name, card number, expiration date, and cryptographic security code, with little to no notification or visible warnings. The data is then transmitted to a remote server or storage device and can be used to make fraudulent purchases or access bank accounts. The best way to protect yourself from skimmers is to be aware of your surroundings and check the physical security of the locations where you may be swiping your card.
  • Payment fraud is defined as any fraudulent activity that involves the unauthorized access and use of a third party’s payment methods to access funds, goods, or services. The most common type of payment fraud is credit card fraud, which occurs when a criminal obtains someone's credit card number, expiration date, and security code and uses it to purchase items without the cardholder's knowledge or authorization. Other common payment frauds include check fraud, identity theft, account takeover, and skimming. Payment fraud is a global problem, impacting people and businesses worldwide. Because of its unrelenting impact, organizations must actively engage in fraud prevention strategies and cyber security protections to reduce the risk of fraud losses.
  • A Payment Gateway is a web-based service provider which provides a collection of information and processes the customer’s payment information securely. It securely transmits the financial information of customers between the payment provider and the vendor. A Payment Gateway acts as an intermediary between companies and customers to process card payments. It encrypts customer payment information while it is in transit and acts as a secure layer between the customer and the seller. It also verifies that the payment information is properly received, validated, and accepted before settlement is processed. It also involves PCI Security Standards which need to beFollowed to ensure the security of the customer’s payment information and facilitate secure transactions. Payment Gateways are essential for preventing fraudulent transactions, ensuring data accuracy, and protecting online payments from cyber threats.
  • Payment screening is a process used to detect and prevent suspicious or illegal financial activity. It involves reviewing each payment transaction to identify any potential money laundering activity or other suspicious activity. This can include checking the customer's identity, verifying the source of the funds, and cross-checking the customer's information against global databases and sanction lists. Payment screening is an essential tool for organisations in the fight against financial crime. It helps reduce the risk of being used as a conduit for criminal activity and ensures that customers are not being taken advantage of.
  • A Payment Services Provider (PSP) is a company that provides payment services to consumers, merchants, financial institutions and other business entities. PSPs provide services such as payment processing, merchant account management, merchant gateway services, merchant settlement, pre-paid cards and electronic wallets. PSPs are typically subject to government regulations and payment card industry standards. They are also required to comply with anti-money laundering requirements and other security measures. PSPs offer a secure and efficient way to move money and make payments, by introducing innovative payment solutions and services.
  • Payment threshold is an important concept in fraud prevention and cyber security. It is a set limit on the amount of money or data that an individual or organization can exchange. This threshold helps to reduce the risk of potential fraud or security breaches. Payment threshold can be set in terms of maximum amount, number of transactions, type of payments and other parameters. Payment threshold helps to identify and prevent suspicious transactions that may be fraudulent. Payment threshold also reduces the risks associated with large-scale payments, since only a limited amount of money is allowed to be transferred at a time. Payment threshold is an essential part of fraud prevention and cyber security, as it helps to identify and stop suspicious transactions and protect the security of accounts.
  • Payment verification is a process that checks whether a transaction is legitimate and valid. It requires the input of multiple pieces of data in order to validate a transaction. This process is critically important in preventing fraud, as malicious actors often attempt to commit fraud with stolen or fake payment information. Payment verification checks a variety of indicators to ensure that the payment information provided is legitimate, such as confirming the security code on the card or if the cardholder is actually the person conducting the transaction. It also confirms if the funds are actually available in the account. Payment verification is a key step in completing any successful transaction in a secure and fraud-free manner.
  • PayPal is an online payment processing system that allows businesses and individuals to securely send, receive, and store money. It is one of the most popular online payment methods in the world, used by millions of people in over 200 countries. PayPal is designed to create a safer and simpler way to manage finances online by providing users with secure payment systems and fraud prevention measures. PayPal allows users to quickly and securely transfer money between their own bank accounts and those of other PayPal users. It also features buyer protection, advanced encryption, and secure authentication to protect users from fraudulent activities. PayPal also offers a variety of other features including international payments, automatic currency conversion, and dispute resolution. PayPal is an important part of today's digital financial landscape, providing convenient, secure and fast payment processing services to its users.
  • PayPal fraud is when an unauthorized person, malicious hacker or scam artist engages in activities to commit a fraud and/or cybercrime against a user of the PayPal service. This can include someone making a purchase with stolen credit card/banking information, attempting to gain access to someone's PayPal account and taking their funds, or making scam payments with fake emails or websites. PayPal fraud can cause significant losses for consumers and businesses around the world, as well as undermine trust in the PayPal service. In order to prevent Paypal fraud, users must be aware of the common tricks and tactics used by malicious actors and be proactive in taking security measures to keep their information and sensitive data safe from prying eyes. These include using a secure password, logging out of PayPal account after each transaction, regularly monitoring their accounts and using two factor authentication.
  • Payroll fraud is a type of white-collar crime wherein employees or external hackers steal funds from an employer’s payroll. This can include forging check requests, making false claims for overtime, or issuing checks to fictitious employees or themselves. It can also include skimming from actual earnings to fund personallavish lifestyles. To prevent payroll fraud, organizations should conduct regular audits, implement controls for systems access, monitor internal processes, and perform employee background checks. Organizations should also use specialized software to detect any suspicious patterns in their financial data. Lastly, organizations should ensure their accounting systems are secure from any unauthorized activity.
  • PCI Compliance is a set of standards created by the Payment Card Industry Security Standards Council (PCI SSC) to ensure that businesses that accept or process card payments maintain a secure environment and reduce the risk of fraud. In order to achieve PCI Compliance, businesses are required to follow certain security principles, such as making sure data is encrypted, preventing unauthorized access to cardholder data, regularly scanning for vulnerabilities and maintaining a secure network. Meeting the PCI Compliance standards is an essential part of doing business for all companies that handle credit cards, and can help reduce the risk of data breaches and fraud.
  • PCI DSS stands for Payment Card Industry Data Security Standard and is a set of comprehensive security requirements designed to protect cardholder data. It is a set of global standards and regulations set by the payment card brands such as Visa, MasterCard, American Express and Discover to protect cardholder data when making payments by credit or debit card. PCI DSS applies to all organizations that handle, store or transmit cardholder data for any one of these payment brands. Compliance requires organizations to adopt security measures to safeguard cardholder data, including encryption, having firewalls and intrusion detection systems in place. Organizations must also perform periodic vulnerability scans on their IT environments to ensure security. PCI DSS also requires organizations to maintain comprehensive record keeping and incident response protocols in the event of a breach.
  • Penetration testing (also known as pen testing or ethical hacking) is a simulated attack on an IT system or network to identify any potential security weaknesses. It is a security technique used to test the security defenses of a system or network, and to identify and assess potential weaknesses. The goal of penetration testing is to assess the security of a system in order to identify any vulnerabilities and report risks accordingly. The information gained through penetration testing can then be used to apply corrective measures or countermeasures to enhance security.
  • A Person of Significant Control (PSC) is a legal term in the UK that refers to individuals with a significant degree of control over a company. These individuals are typically identified by their rights over the company’s shares, the ability to appoint or remove directors, or the ability to control activities of the company. It’s important to note that a PSC doesn’t necessarily need to be a director, shareholder or member of the company. Anti-money laundering experts must identify and verify the identity of any PSCs for the company as required by the Money Laundering Regulations. Knowing who these individuals are is essential in order to prevent criminals from using the company for money laundering.
  • Persona is a technique used in fraud prevention and cyber security. It is based on the idea of building a virtual "persona" consisting of a variety of characteristics that can be used to identify a person or group of digital persons. Persona combines demographic and psychographic data with real-time threat intelligence data to build digital personas that are used to identify potential fraud or cybersecurity threats. A persona can be as basic as just an email address or it may include attributes such as age, location, profession, interests, online behavior and more. With cyber security, personas can be used to detect anomalies in online behavior and can be used to identify malicious activities.
  • Personal Details Compromise is a form of identity theft which involves an unauthorized person gaining access to personal information such as names, addresses, Social Security numbers, bank account numbers, and credit card numbers. This can occur through data breaches, phishing campaigns, malware, and other forms of attacks. By compromising personal details, criminals may be able to access the victim’s financial accounts, steal money, and open accounts in the victim’s name. Companies and individuals need to be aware of the threat and take steps to protect themselves, including using anti-virus software, two-factor authentication, and regularly changing passwords.
  • A personal firewall is an integral component of a computer system's security measures, which acts as a protective barrier between a trusted internal network, such as that of a home or business, and the larger public networks, such as the Internet. A personal firewall is designed to monitor and control the incoming and outgoing traffic to a computer or small network, and grant or deny access to the system based on programmed rules. It can also be used to detect and report any suspicious activity and alert the user, allowing them to take the necessary steps to protect the system. Personal firewalls are essential to any user’s security system and can provide additional peace of mind that their data and information is safe.
  • Personal Identifiable Information (PII) is any data which can be used to identify an individual. It includes sensitive information such as name, address, Social Security Number, driver’s license information, financial data, usernames and passwords, healthcare information and more. PII is often stored in databases by companies, governments and other organizations. It is important that these records are kept secure and only accessed for legitimate purposes. As a Cybersecurity Expert, it is my job to ensure the security of these records so that they cannot be accessed without authorization and used for malicious activities.
  • Personal Information consists of any data that could potentially identify and/or be used to contact a particular individual. This includes, but is not limited to, such items like full name, address, phone number, email address, date of birth, and social security number. Other personally identifiable data includes financial account numbers, payment information, biometric information, and so on. Personal Information also includes online identifiers, such and IP addresses, username, and device identifiers. This information is often highly valuable to cyber criminals and must be protected through technology, layered security measures, and strict privacy and data protection policies. When handling Personal Information, it is important to be aware of and adhere to all relevant laws and regulations.
  • Personally Identifiable Information (PII) refers to any data that can be used to identify or contact a specific individual. PII includes details such as name, address, telephone number, email address, social security number, driver's license number, passport number, financial details, and health information. PII can be collected in both digital and physical forms, such as when a customer completes a form with their personal details, a sale is made online, or a computer system is accessed. Organizations must establish effective measures to protect PII in order to abide by privacy laws. These measures include restricting access to PII, establishing security systems and encrypting files containing PII, as well as training staff on cybersecurity threats and practices.
  • Phantom debt is a type of fraud where criminals attempt to collect on non-existent debt or debt they are not legally allowed to collect on. This type of fraud is commonly executed by sending out multiple letters, emails and phone calls, intimidating and threatening victims in an effort to gain money from them. These criminals may use false identities and misrepresent themselves as being an authentic debt collection agency or government agency. They can be very convincing and prey on vulnerable individuals who may perceive a debt to be legitimate. It is important for victims to be aware of their rights and be mindful of who they are speaking to. Victims should not give away any personal information or make payments without verifying the debt is real. Victims should also report any suspicious activity to the authorities.
  • Pharming is a type of cyberattack that targets a computer or network by redirecting traffic away from legitimate websites to malicious ones. Attackers employ various methods to carry out pharming, including manipulating the Domain Name System, exploiting known security vulnerabilities in popular web browsers, or infecting computers with malicious software. These methods can be used to redirect visitors to phishing sites, collect sensitive data, or launch further attacks. To protect against pharming attacks, it is important to keep all software up to date and practice good online safety procedures, such as using strong passwords and not entering sensitive information on unknown websites.
  • Pharming is a cyber attack that attempts to redirect traffic from a legitimate website to a malicious one, by exploiting vulnerabilities in the Domain Name System (DNS) lookup process. When successful, it can enable hackers to steal confidential data, including user login and transaction details, by redirecting users to malicious websites or pages that look identical to legitimate ones. It is becoming increasingly common, as phishing attacks become more sophisticated and attackers gain access to multiple points on the DNS chain. As such, companies should take steps to protect their infrastructure and user accounts from pharming attacks. This can include using secure protocols, implementing multi-factor authentication and regularly monitoring their DNS records.
  • Phishing is a type of cyberattack that utilizes social engineering techniques to deceive victims into disclosing sensitive personal and financial information or performing tasks that allow the attacker access to a victim’s system. It typically occurs when attackers disguise themselves as a trusted source, such as a bank or online retailer, in order to steal personal information or financial data. The attack process begins with a malicious email, often with a “bait” message attached, that contains a malicious link or a downloadable file. Victims may be tricked into providing confidential login details or other sensitive data by clicking on the link or downloading the file. Other techniques for phishing include skimming, which involves the installation of a malicious code that captures information at the point of transaction, and key-logging, which involves capturing the keystrokes entered into a computer.
  • Phishing is a type of cybercrime technique used by hackers to obtain personal information such as login credentials and credit card numbers. It typically involves the use of an online form or email that looks legitimate but is actually a fake which requests the targeted victims to enter their sensitive data in order to gain access. Pharming is a more advanced form of Phishing where hackers use malicious code to redirect users to fake websites. This code can be deliberately uploaded to a website, or can be inserted into a link or URL address. By redirecting users to malicious websites, hackers can steal user data and other confidential information.
  • Phishing kits are malicious tools used by cybercriminals to deceive people into providing sensitive personal or financial information, such as passwords and credit card numbers. To create a phishing campaign, the attacker uses a kit to construct a legitimate-looking but fraudulent website, often designed to imitate a familiar banking or corporate site. The kit also contains code to collect submitted data and pass it onto the attacker. The attacker may also use the kit to create deceptive emails to lure victims to the spoofed website. Phishing kits are typically sold on dark web marketplaces and can be easily bought and customized with minimal coding knowledge. It’s important to stay vigilant and continue to practice good cyber security habits to reduce the likelihood of falling victim to these malicious attacks.
  • Phishing Schemes involve criminals using emails, texts and malicious websites to impersonate legitimate organizations in order to steal sensitive information such as usernames, passwords, credit card numbers and banking information. The criminals usually lure the victims in by offering suspicious links, fake offers and bogus contests. The best way to protect yourself from becoming a victim of this type of scam is to be aware of phishing schemes, research unfamiliar organizations and refrain from clicking unknown links. If the request seems suspicious then do not respond, instead contact the originator via known trusted methods. Also, be sure to use strong passwords, two factor authentication and keep your system and data up to date with the latest security patches.
  • Phone Verification is a process of confirming the identity of an individual by means of identifying the phone number associated with that individual. It is commonly used for two-factor authentication, which is the addition of an extra layer of security in order to better protect sensitive information. This process works by first obtaining the phone number associated with the person and then following up with a phone call or text message containing a one-time authentication code. The user is then asked to turn and offer the authentication code in order to gain access to the system and prove that they are allowed to proceed. This helps to keep malicious actors away from personal data and reduce the risk of data breaches.
  • Ping of Death is a type of computer security exploit. It is an attack in which a malicious user sends a computer a single ICMP (Internet Control Message Protocol) packet that is larger in size than the maximum allowable size of 65,535 bytes. When this occurs, the receiving system is unable to handle the packet and crashes or hangs, resulting in a Denial of Service (DoS) attack. To protect against this attack, security professionals must ensure that the servers, firewalls, and network devices are configured properly to not allow oversized packets to get through. Additionally, administrators can protect their networks by implementing additional security measures such as packet filtering and intrusion detection systems.
  • Ping scan is a type of network scan commonly used in cybersecurity. It works by sending a special type of IP packets called ICMP Echo Requests to a range of target IP addresses in order to determine which of them are reachable and operational. If the target responds with an ICMP Echo Reply, the scan indicates that the device is online and accessible. This information can then used to identify and assess the security posture of the target systems. The ping scan is used to gain an overview of the network and identify which systems are active, as well as detect reachable networks and hosts that might be vulnerable to attacks.
  • A ping sweep is a technique used in information security to identify live hosts on a network. It involves sending Internet Control Message Protocol (ICMP) echo requests, also known as pings, to an entire network range and then listening for responses. Responses received indicate that systems are present on the network and can be further investigated for vulnerabilities or other suspicious activity. Ping sweeps are a form of network discovery and can help identify unauthorized hosts on a network. It is important to note that ping sweeps can also be used by malicious actors to detect vulnerable systems on a network, making it important to properly secure networks against pings and other potential scans.
  • Plagiarism is the act of taking someone else's work or idea and using it as your own without giving proper credit or permission to the original source. It can occur in any form of media, including writing, artwork, music, photography, and video. It’s a type of intellectual theft that can result in criminal or civil penalties. Plagiarism damages the credibility and integrity of those involved while negatively affecting the author or creator of the original work. Plagiarism is a serious offense that is punishable by law, including penalties such as fines, lawsuits, and even possible jail time. It’s important to understand plagiarism and how to properly cite sources of information used.
  • Plaintext is a type of data that has not been encrypted. Plaintext is in its original form, meaning that it is not encoded or altered in any way. It is a data format that is widely used in electronic communications and can be easily read by both humans and machines. Plaintext is sent over a network or stored in a computer file without being encrypted. Although plaintext is often a security risk, as it can be easily intercepted and read by malicious actors, it is often used as a starting point for cryptographic operations, such as encryption and digital signing. In such cases where plaintext is used as input, it is essential that the data is handled securely and that proper security measures are in place to protect it.
  • Platform-as-a-Service (PaaS) is a cloud computing model that provides users with a platform to develop, deploy, and manage applications, databases, and services over the internet. It is an integrated environment specifically designed for developing and managing software applications. PaaS provides a suite of resources and services, such as web hosting and application frameworks, which are typically accessed through an Application Programming Interface (API) or a web-based user interface. PaaS solutions enable users to quickly deploy and scale their applications in a secure environment, without having to manage the underlying infrastructure. This makes PaaS solutions an attractive option for businesses of all sizes.
  • Point-to-Point Encryption (P2PE) is a secure data transmission protocol designed to protect sensitive data while in transit. It is used to encrypt the data between two points, typically between the customer’s computer and the merchant’s server. P2PE prevents data breaches by shielding the cardholder’s information and other confidential data as it flows over public networks such as the internet. P2PE packages the data into an encrypted packet, which prevents unauthorized access by any third-party. Once the data reaches its intended destination, it is decrypted using an approved decryption method. P2PE is an important security measure to prevent payment card fraud and data theft and is commonly used in e-commerce transactions.
  • Point-to-Point Protocol (PPP) is a layer 2 data link protocol that is widely used to establish connections between two nodes over a physical serial connection. PPP is used to exchange data and manipulate link layer control information across two nodes, such as network identification (authentication) and configuration options. PPP is designed to enable communication between two nodes over a point-to-point link and provide reliable high-speed transmission of data over physical media such as modem, ISDN, or DSL. PPP is normally used as the data link protocol for connecting to the internet, dial-up situations, or serial tunnels. It can also be used for Virtual Private Networks (VPNs) for more secure transmissions. PPP supports several different link layer control protocols that provide integrity checks and basic authentication of the peer node.
  • Point-to-Point Tunneling Protocol (PPTP) is a type of Virtual Private Network (VPN) that uses a secure connection to facilitate the transfer of data between two remote computers over the internet. It provides strong encryption, authentication and data integrity to ensure secure data communication. It also helps to hide the IP address of the sending computer from the receiving computer. This makes it ideal for secure data transfer, such as sending sensitive files between two computers or for accessing a restricted network such as a corporate intranet from outside the company's network. It can also be used to bypass internet censorship for uncensored access to the internet.
  • Poison Reverse is a routing technique used to prevent routing loops in a network. It is a tool in which routers inject information about paths to destination networks, as well as direction, as part of their routing update into the network, so that if a path becomes invalid, the routers can then use the information to contact the router from which the original advertisement was received and update the path or remove it from the routing table. The main goal of Poison Reverse is to prevent routing loops in a network. It works by having routers advertise an invalid route so that other routers in the network can detect the route and prevent it from being used.
  • Policy Management is the practice of creating, updating, and enforcing rules and regulations to ensure the safety and security of a given system or network. It involves determining the scope and objectives of a security policy, identifying threats and vulnerabilities, and assessing the risk associated with them. A well-defined policy allows organizations to stay informed and compliant with security best practices while also helping ensure the integrity of the network. A good policy management system encourages user accountability, reduces the chances of malicious attacks, and ensures data confidentiality. Finally, it is essential for organizations to regularly review, validate, and update their policies to ensure the system is secure and able to respond quickly to new threats.
  • Policy violation is an act that disregards and goes beyond accepted policies and guidelines imposed by an organization, government, or other entity. It can range from small missteps to major offenses and can lead to considerable consequences. A policy violation can be unintentional, or done deliberately as a malicious act. Some of the potential effects of a policy violation may include suspension of privileges, fines, disbarment, or even incarceration. In the cyber security and fraud prevention fields, a policy violation often refers to an individual gaining access to systems, programs, or other information they are unauthorized to access or manipulate, or performing any prohibited action in terms of an organization’s usage policies.
  • Political Expedience is the practice of making decisions based on political considerations rather than on underlying principles. It is the willingness to sacrifice moral and ethical principles in order to achieve a desired outcome. It is often used by politicians to gain favor with constituents by enacting policies that are not necessarily in the best interests of the public. In other words, it is a way for politicians to appease certain groups in order to gain power or win an election. Political Expedience can lead to short-term gains, but it can also have long-term consequences and often leads to decisions that are not in the public's best interests.
  • A Politically Exposed Person (PEP) is an individual who has been entrusted with a prominent public function, such as a senior government, judicial or military official; a senior executive of a state-owned corporation; or a senior foreign political figure, such as a family member or close associate. PEPs may present greater money laundering and terrorist financing risks than other customers due to their position and influence, as well as their access to public funds. As such, financial institutions must conduct enhanced due diligence when it comes to transactions with PEPs to ensure that illicit funds and funds associated with prohibited activities are not being laundered through the financial system.
  • Polyinstantiation is a security measure used to protect data from unauthorized access. This technique creates multiple copies of the same data stored in different locations with varying levels of access. Each copy contains different versions of the same data and each version is tailored to the user’s level of access. This prevents users from accessing more sensitive data than they should and also prevents malicious actors from extracting all the data in one go. The key to this measure is preventing a single point of access for the data, so that attackers cannot gain access to all of it at once, making it harder to uncover sensitive information. Polyinstantiation makes it harder for attackers to gain access to sensitive data and is an important measure used in Cybersecurity today.
  • Polymorphism is a programming technique in which the same code is used to provide different executions based on parameters or the object used. It allows different code to be executed at different times, which is useful in cyber security. Polymorphism can be used to create software that is more difficult to analyze since the same code will appear differently each time it is executed. It also allows a virus or malware to change its code dynamically, making it more difficult to detect. The use of polymorphism can also be used to hide malicious code inside of legitimate programs to evade detection. Overall, polymorphism is a powerful tool for the development and implementation of secure software.
  • A Ponzi Scheme is an investment fraud that works by paying existing investors with the funds that are collected from new investors. It is named for Charles Ponzi, who ran a scheme in the early 1920s. In a Ponzi scheme, no underlying investment exists, and fraudsters collect money from new investors to pay the earlier investors in a “pyramid-style” structure. Ponzi schemes are often difficult to detect and may collapse suddenly, leaving investors with losses. As an Anti-Money Laundering Expert, it is my duty to identify potential Ponzi schemes and take measures to prevent individuals from becoming victims of such fraud.
  • Port scanning is a technique used by cybersecurity experts to analyze the security of a computer system or network by scanning ports to identify which ports are open, filtered, or closed. It is a process by which a computer system or network is probed for open ports, which are ports that are accessible to the outside world. The purpose of a port scan is to identify the open ports, detect the services running on each port, and assess the security of the system by attempting to identify potential vulnerabilities associated with that service. Additionally, port scanning can also be used to detect network intrusion attempts and malicious activities. In summary, port scanning is a necessary tool for any cybersecurity expert to utilize to ensure a system or network is properly secured.
  • A port scan is a type of security scan that involves gathering information about the open ports on a network. It is used to identify any weaknesses in a network’s security by finding vulnerable ports that can be used to gain access to a network. Port scans are conducted by a computer program or service searching for open ports on a targeted machine. The program will then send data to the ports to determine what services and protocols the open ports are running, the types of machines running on the network, or to see if a particular port is open. Port scans can be used for malicious purposes, but are also useful for general system administration and for assisting in the detection of security vulnerabilities.
  • Predicate crimes are offences that are used to facilitate money laundering activities. These predicate offences can include fraud, drug trafficking, counterfeiting, embezzlement, corruption, tax evasion, and bribery. By engaging in these activities, criminals are able to generate illegitimate funds which they may try to wash through various methods in order to make them appear legitimate. Anti-Money Laundering experts are responsible for identifying, deterring, and monitoring financial transactions associated with these predicate crimes in order to disrupt and prevent the illicit funding of criminal activities.
  • Pretty Good Privacy (PGP) is a type of encryption used for secure communication and digital data protection. It is a cryptographic protocol that uses a combination of conventional data encryption, hashing algorithms, and public-key cryptography to securely encrypt, authenticate, and transmit sensitive and confidential data. PGP supports confidentiality, integrity, and authentication through its use of multiple algorithms, making it an effective tool for protecting sensitive data and communication. It provides a high level of security to protect data from both internal and external threats, with the ability to detect manipulation or alteration of data while in transit. PGP is an essential component of an effective security strategy and is widely used by individuals, organizations, and governments around the world.
  • Privacy is an important right that is being increasingly recognized and protected in many societies. It can be defined as the right to be left alone and not to have one's personal information collected and shared without permission. It also involves control over information that is shared or collected, including a person’s decisions about how and when personal information is shared. It is a fundamental right that includes the right to control and protect personal data, including the collection, use, storage and deletion of such data. Privacy is closely tied with our sense of autonomy, self-determination and individuality and therefore is of utmost importance.
  • Private addressing is a form of computer networking protocol that creates a secure and private connection between two or more computers without requiring them to be connected to the same network. It assigns an IP address to each computer that cannot be seen by other devices on the internet. This form of addressing allows for secure data transmission in that the data will remain private between the two hosts. Private addressing also helps protect computer networks from malicious attacks and data leakage. Private addressing is essential in ensuring the security and safety of a computer network.
  • Private banking is a form of banking services provided to high net worth individuals and families. It is a specialized type of banking that provides financial services to private individuals who have substantial wealth and require a higher level of privacy and discretion. Private banking services include wealth management, portfolio management, trust and estate management, and banking services such as deposit-taking, lending and foreign exchange. Private banking also includes services such as financial and estate planning, tax planning, and philanthropic planning. Private banking is also sometimes called "private wealth management" and is a type of financial service that emphasizes preserving and growing the wealth of clients.
  • A Private Investment Company (PIC) is a legal entity established for the purpose of carrying out investment activities. These companies are mainly used as vehicles for investments, such as private equity funds, venture capital funds, real estate funds, and hedge funds. They are typically formed for the exclusive benefit of the founders and investors. As such, PICs are not publicly traded and are not required to follow the same rules and regulations as public companies. PICs are subject to Anti-Money Laundering laws and regulations, including Know Your Customer and Anti-Money Laundering Risk Assessment. PICs are generally created to minimize taxes, protect personal assets, and provide a framework to manage and grow investments.
  • Privilege Access Management (PAM) is a security discipline that focuses on the proper management of privileged users, privileged accounts, and privileged access within an organization. It ensures that the access privileges of each user are appropriate for their job and that only privileged users are able to access privileged data and resources. PAM is designed to protect users, systems, and data by preventing unauthorized access and monitoring activity. It eliminates hard-coded and shared accounts, controls user access rights, and monitors privileged user activities. PAM also reduces the time needed for account provisioning and de-provisioning. It helps organizations to comply with different regulations and standards, such as PCI-DSS, ISO 27001, SOX, HIPAA, NIST 800-53, and GDPR.
  • Process hollowing is an advanced technique used by attackers to hide malicious processes from traditional security tools. This technique involves replacing a legitimate process with a malicious one, or hollowing it out, then injecting malicious code into the hollowed process. The malicious code is then configured to run while the legitimate process still appears to function normally. This technique is often used to evade detection by security tools that rely on signature-based detection or rely on monitoring of process names to detect malicious processes. Process hollowing is a highly effective technique that has been used in many real-world attacks, so it is important for cybersecurity experts to be aware of it.
  • Processing Unauthorized Payroll is a type of fraud perpetrated by malicious actors to trick an organization into releasing payroll funds without authorization. An attacker will manipulate payroll policies and procedures in order to process a payment to a fraudulent bank account, which may be in their own name. The goal is to make off with the money without detection. Organizations can detect this sort of fraud by auditing their payroll policies and procedures, developing effective security controls, monitoring suspicious activity on a regular basis, and reinforcing compliance with established policies. Companies can also improve their fraud prevention by training their personnel to be aware of the indicators of fraud, and working with a specialized third party to conduct due diligence on each payroll transaction.
  • A program infector is a type of malware that is designed to spread itself across programs and stored data on an infected system. It typically remains dormant until a particular application is launched, at which point it will infect the program and spread itself to other applications and data. Program infectors are often used to install spyware or to gain access to a computer system via backdoors. It is important to use a reliable antivirus program to detect and remove malicious software before it can cause significant damage.
  • Program Policies are detailed requirements or guidelines that provide direction to the management, staff, and users of software programs or applications. These policies ensure that programs and applications are used in secure and effective ways. They also establish standards for protecting data and preventing unauthorized access, including security measures and protocols. Program Policies cover aspects such as system access, data integrity, and encryption, as well as covers highlights such as changes or modifications to applications, audit requirements, electronic signature requirements, and patch management. Ultimately, Program Policies aim to protect the confidentiality, integrity, and availability of system and software applications.
  • Prohibited transactions are those transactions that are forbidden or illegal under the applicable laws, regulations, and rules of a particular jurisdiction. These may be financial transactions such as money laundering, terrorist financing, fraud, or other criminal activities. Prohibited transactions can also involve the sale or transfer of restricted items such as drugs, weapons and explosives. Prohibited transactions must be identified and reported, and if applicable, blocked or stopped in order to prevent the completion of the transaction and to protect the safety and security of individuals, organizations, and even the country.
  • Promiscuous mode is a type of data capture mode available in computer networking. In this mode, the network card is set to accept all packets received from the network regardless of their intended destination. This means that all of the traffic that the network card receives is passed to the CPU for processing, including any broadcasts, multicasts, and any other packets not intended for the computer in question. This differs from the default networking mode, in which only packets addressed to the computer's network card are accepted. Promiscuous mode allows for the entire network to be monitored, but it increases the amount of traffic received, which can have adverse effects on the performance of the computer.
  • Proofing is a security measure taken to protect online information and transactions. It involves verifying the identity of a user, typically by checking identity documents (e.g. a passport or driver's licence) and using additional analytics and data points to validate they are who they claim to be. It can also include other measures, such as email verification and knowledge-based authentication, where users are asked to answer personal questions. The aim of proofing is to create a secure environment and reduce the risk of online fraud and identity theft by making sure that online users are who they claim to be.
  • A protocol stack, also known as the Open System Interconnection (OSI) model, is a set of communication protocols used to implement the transport of data across various types of networks. This model consists of seven (7) layers which work together to create a reliable end-to-end connection, ensuring that data is delivered in the right format and order. The bottom layer is the physical medium, working up to the application layer which generates data that is sent over the network. Each layer has its own protocol and is responsible for a specific task such as network addressing or routing, ensuring that data is sent securely and quickly. Protocol stacks are used to create a reliable and secure connection, providing the necessary steps to keep data safe from malicious actors.
  • Proxy piercing is a method used to attempt to identify and locate a computer, individual, or organization that is attempting to mask its identity or location. It involves the use of techniques such as packet sniffing, IP tracing, and DNS digging. Proxy piercing takes advantage of the fact that even as proxies work to conceal a user's identity, there may still be identifying information contained in a network transmitted packet. This information can include a user's real IP address, Internet service provider information, geolocation, and a user's actual physical location. All of this information can help to identify the user or organization behind the proxy. Additionally, proxy piercing can also be used to determine whether a user is attempting to access a site they are restricted from.
  • A proxy server is a type of server that acts as an intermediary between a computer and the internet, allowing for online requests to be sent from the computer to the internet and vice versa. Proxy servers provide a variety of functionalities, including allowing for the filtering of online requests and data and for the caching of online webpages, thereby reducing internet latency. Proxy servers can also be used for hiding the identity of a computer from the internet, allowing for greater confidentiality when making online requests, and for bypassing certain restrictions, such as country- and region-specific internet content. Ultimately, the use of a proxy server can allow for improved security and privacy while navigating the internet.
  • Public key cryptography is a form of cryptography which uses two different keys to encrypt and decrypt data. The two keys are known as the public key and the private key. The public key is available to the public and is used to encrypt data. This data can only be decrypted by the corresponding private key. The private key is kept secret and is used to decrypt the data encrypted by the public key. Public key cryptography is an essential part of many secure communication protocols, such as TLS/SSL, SSH, PGP and more. It is also used to create digital signatures and authentication. In addition, it is used to securely exchange session keys, encrypt emails, and authenticate file sharing systems.
  • Public Key Encryption (PKE) is an encryption technique that uses two separate keys, one for encryption and the other for decryption. The key used for encryption is known as the public key, and the key used for decryption is known as the private key. In order for secure communication to take place, the public key must be available to all parties, while the private key should be known only to the intended recipient. PKE is a form of asymmetric encryption which allows encrypted messages to be transmitted over insecure channels without fear of interception, as the private key is never transmitted. This provides a secure communication medium and is widely used in the secure transfer of confidential information.
  • Public-key forward secrecy (PFS) is an encryption protocol that is designed to secure the data communicated between two entities. It is based on the idea of using a fresh public-key for every session and ensuring that the private key is only available to the server. With PFS, the public keys for past and future sessions can not be calculated from the same shared key. This means that when the shared key is compromised, any past and future communication can't be decrypted, providing maximum protection from potential attacks. This makes it an ideal solution for secure communication channels, especially for applications like banking, e-commerce, and cloud services.
  • Public Key Infrastructure (PKI) is an essential technology for data security and encryption. PKI is made up of cryptographic components, including digital certificates, ciphers, and digital signatures, that enable the secure exchange of information over insecure networks. PKI requires three main components—a certificate authority (CA), a registration authority (RA), and a repository—that are all necessary for authentication and authorization. The CA is responsible for issuing and verifying digital certificates, the RA is responsible for verifying identities and granting permissions, and the repository is responsible for securely storing and managing certificates. PKI helps to ensure the safety of data and enable secure communication between networks, devices, and applications.
  • Purchase Amount Filter is a fraud prevention tool that detects potentially suspicious activities by analyzing transaction data. It is used to detect and block transactions beyond a predetermined amount. It works by setting a threshold amount of a transaction and tracking all purchases that exceed this limit. If certain patterns or trends emerge during the investigation, the filter will block further transactions. The filter examines all data related to a purchase such as the amount, currency and location of the buyer, as well as the type of product or service involved. It also investigates the frequency and the pattern of the transactions for suspicious activities. The filter is an effective way of preventing potential fraud by providing fraud investigators with relevant information to analyze.
  • Pyramid schemes are fraudulent investment programs that require participants to contribute money in order to join, with promised monetary rewards for recruiting additional participants. Those who join early on make money off of those that join later, who end up losing money because there's a finite number of participants in the scheme. Pyramid schemes are illegal, since they mainly reward those at the top and lead to many participants losing their money. They are also financially unsustainable since they rely on an ever-increasing pool of new participants. They are additionally damaging to markets by artificially inflating prices and causing market distortions.
  • Ransomware is a type of malicious software that is used by cyber criminals, usually to illegally gain access to a computer system or encode and hold important data hostage, in exchange for a ransom. Ransomware attacks typically start when a hacker manages to gain access to a computer network or network device through a malicious email attachment, link, or website. Once in the system, the ransomware will encrypt the victim's data and typically demands payment in return for a unlocking code. To protect against ransomware, it is important to maintain a good backup copy of all sensitive systems and data, as well as ensuring that all the security patches and software updates are up to date, and having an active anti-malware or anti-virus protection. Finally, user education and awareness are essential for spotting and preventing ransomware attacks.
  • Real Estate Fraud is a crime that occurs when an individual or group uses deceptive practices with the intent to illegally acquire or use real estate for financial gain. This type of fraud includes activities such as falsifying documents, forging signatures, and selling properties without the knowledge or consent of the rightful owner. It also includes activities such as using false or misleading information to obtain a loan for a real estate purchase, double selling a property, or falsely inflating the value of a property. Real Estate Fraud is a serious crime that can have long-term financial and legal consequences for all involved.
  • Real Time Gross Settlement Systems (RTGS) is a type of electronic payment system used for the transfer of large monetary funds from one institution to another. This system is used to settle transactions in real-time, meaning that the funds are transferred almost immediately. RTGS also offers high-level security and reliability, as the transactions are immutable and monitored by the central bank, ensuring that transactions are made through trusted channels. As an Anti-Money Laundering Expert, it is important that I understand and remain up-to-date with RTGS to ensure that no suspicious activity is being conducted.
  • Real-Time Risk Management is an approach to fraud prevention and cyber security that focuses on identifying, monitoring, and responding to digital threats in real time. It employs a combination of user behaviour analytics, machine learning, and artificial intelligence to detect anomalies and potentially malicious activities, which are flagged and responded to quickly. The aim of real-time risk management is to identify fraudulent activities as soon as they take place or when the likelihood of fraud is still relatively low. This in turn reduces the amount of time it takes for an organisation to take corrective measures and limits the impact of any fraud. All in all, real-time risk management solutions offer organisations the power to quickly and effectively respond to cyber threats and fraudulent activities.
  • Record destruction is the process of destroying information or data stored on paper or electronic records. This data could be personal, financial or sensitive in nature. The reasons for destroying records vary; it could be to reduce the risk of fraud or identity theft, prevent the unauthorized access to private information, meet record-keeping requirements or comply with local or federal regulations. The process of record destruction typically involves shredding, burning, or pulping paper records, as well as deleting electronic files or wiping hard drives. To ensure complete destruction, it is important to have the records certified by a trusted third-party. The certification will provide assurance that the records were indeed destroyed and no traces of the data remain.
  • Record keeping is the practice of retaining and organizing documents and other materials related to an organization’s finances, operations, and other activities. It is an important part of any anti-money laundering (AML) program. Record keeping helps organizations understand and comply with AML regulations, which require the collection and analysis of financial records to identify suspicious activity. It also assists organizations in detecting, monitoring, and reporting money laundering activity. Proper record keeping is essential in reducing the risk of money laundering and other financial crimes.
  • A Red Flag is a warning sign that may indicate money laundering or other suspicious activity. It is typically used to alert financial institutions and other organizations to activity that may be suspicious or indicative of criminal activity. Examples of Red Flags include unusually large or complex transactions, multiple transactions, or transactions that lack a clear business purpose. It is important to evaluate each transaction to assess whether or not it is consistent with the customer's expected activity, and to take appropriate action if any Red Flags are identified.
  • RegTech stands for Regulatory Technology and is a subsector of FinTech focused on streamlining, automating, and ensuring compliance with regulatory requirements. RegTech solutions are used by financial institutions to reduce costs, reduce risk, and improve efficiency in operations by leveraging cutting-edge technology such as artificial intelligence, big data analytics, and cloud computing. As an Anti-Money Laundering Expert, RegTech solutions can assist in monitoring and flagging suspicious activity, managing customer onboarding and due diligence processes, and ensuring compliance with applicable regulations. RegTech can also be used to assist in automating processes, streamlining operations, and improving overall security and customer experience.
  • A regulatory agency is an organization established by the government to enforce existing laws and regulations, and to ensure that government organizations and private businesses are compliant with rules and regulations. Regulatory agencies are responsible for monitoring, inspecting, licensing, and enforcing laws and regulations in their respective industries and fields. Regulatory agencies create and enforce regulations, policies, and rules that provide guidance and set standards for organizations and businesses that they regulate. These organizations often have the authority to impose fines, suspend licenses, and cease operations. They are tasked with preserving the public safety and trust, providing consumer protection, and ensuring fair competition in the marketplace.
  • Regulatory compliance is the adherence to laws, regulations, guidelines and specifications relevant to an organization’s business. It encompasses a set of activities designed to ensure that an organization’s products, services, and processes comply with relevant regulations and guidelines. As an Anti-Money Laundering Expert, it is my role to ensure that an organization’s policies and procedures are in accordance with the regulations laid out by the government and other regulatory bodies. This includes identifying, managing and addressing financial crime risks, including money laundering and terrorist financing, as well as ensuring compliance with all relevant laws, regulations, and standards.
  • Regulatory Requirements are laws and regulations that are put in place by governing bodies to prevent Money Laundering. These requirements can come from a variety of sources, such as international financial institutions, national governments, and even private organizations. Examples of such laws include the USA PATRIOT Act, EU Money Laundering Directives, and the Financial Action Task Force (FATF) standards. These laws provide guidance on how financial institutions must monitor and report suspicious transactions, how customer information is stored, and how transactions should be recorded. These laws also provide for compliance monitoring on both an internal and external basis. As an Anti-Money Laundering Expert, it is essential to understand these laws and ensure that an organization is adhering to them to prevent Money Laundering.
  • Relatives and Close Associates (RCA) is a term used to describe any individual or entity that has a close connection to another individual or entity. It includes immediate family members, such as spouses, siblings, parents and children, as well as long-term business partners, close friends or other individuals who are related in some way. An Anti-Money Laundering (AML) Expert must be aware of the potential risks posed by RCAs as they may be used as a cover to disguise criminal activity or money laundering. For instance, a relative or close associate may be used to transfer money, open accounts, or facilitate transactions on behalf of a criminal. As such, it is important to identify and monitor any suspicious activity involving RCAs.
  • Remittance is the transfer of money, often from migrants or expatriates to family or friends in their home countries. Remittances are a major source of income for individuals and families, often representing the bulk of their income. As such, it is important that these funds are sent, received and utilized in a responsible manner. Anti-Money Laundering (AML) Experts are responsible for ensuring that measures are taken to prevent the use of remittance services and international payments for money laundering activities. These measures include identifying, assessing and mitigating risks associated with the origin and destination of remitted funds, as well as tracking and verifying the legitimacy of transactions.
  • Remittance services are payment solutions used to facilitate money transfer between individuals and companies across different countries. These services are often used by individuals to send money to family members or friends abroad, or to send payments to international vendors. Companies may use remittance services for international payments, such as for payroll, contract payments, and vendor payments. Remittance services typically involve a fee for their use, in addition to any applicable exchange rate fees. Remittance services are subject to anti-money laundering regulations, as they have the potential to facilitate money laundering activity. As an anti-money laundering expert, it is important to be aware of the potential risk associated with remittance services and take appropriate measures to monitor and report any suspicious activity.
  • The Remote Desktop Protocol (RDP) is a network protocol that enables an individual to access and control a remote computer via a graphical user interface. It is commonly used in corporate IT networks and other organizations that require secure access to remote systems. RDP provides encryption of data transmitted between the remote computer and the local user's system, as well as authentication, in order to ensure that only authorized users have access to the remote computer. RDP also allows for the transfer of files and other information between the two systems, making it an important component of remote system administration and maintenance. Additionally, RDP can be used to access applications and resources on the remote computer, making it a useful tool for organizations to improve remote productivity.
  • Reputational risk is the risk of experiencing negative publicity that could negatively impact an organization's reputation. Reputational risk can arise from a variety of sources, including ethical issues, customer complaints, poor customer service, PR disasters, or a failure to meet expectations. The risk can also be triggered by inadequate internal controls and corporate governance, which can lead to accusations of anti-money laundering activities or other illegal activities. Ultimately, reputational risk can create irreparable damage to a company's brand, shareholder confidence, and overall market value.
  • The Request for Comment (RFC) is a standardized document used in the Internet Engineering Task Force (IETF) to define Internet standards. It is a formal document that contains technical and organizational information regarding the Internet protocol and other network protocols, services, and applications. The RFCs are developed by IETF working groups and reviewed by the IETF community. They are published by the Internet Engineering Steering Group (IESG) and the Internet Society (ISOC) after approval. All RFC documents use a unified numbering system and are freely available on the Internet. They form the basis of the Internet Protocol Suite and many Internet and computing standards.
  • Reshipping fraud schemes involve criminals luring unsuspecting people into receiving stolen items and then re-shipping them. In this way, the criminal uses a legitimate-looking job advertisement to draw people in to receive the stolen items. The victims are usually promised payment for receiving these items, but often never receive the payment, as the products are usually very expensive. The scheming criminals also often require victims to pay for the shipping costs and a commission. While the schemes may appear lucrative, these criminal activities usually land victims in legal trouble. Reshipping fraud can also involve money laundering, where the stolen items are resold for a profit. Protecting against this type of fraud involves researching any job offers thoroughly, always double-checking payment details before agreeing to send any packages, and reporting any suspicious offers.
  • A Resource Exhaustion Attack is a type of cyber attack in which an attacker attempts to overwhelm a system or network with requests, typically leading to a denial of service. This attack utilizes a large number of requests from multiple sources, with the goal of exhausting a system’s available resources such as memory, processor time, or bandwidth. In addition, in some cases a large number of requests can cause disruption in the network, leading to latency and other connectivity issues. These attacks are particularly effective against web services, as the attackers can potentially send thousands of requests in a short amount of time. As a result, Resource Exhaustion Attacks can cause significant damage and disruption for computer systems and networks.
  • Response time is a measure of the time it takes for a request to be processed and a response to be returned. It is an important indicator of performance for cybersecurity systems and networks. For example, response time of an intrusion detection system is a measure of the time it takes from the moment an attack has been initiated to the moment the system responds to it. It is important for network operators and administrators to understand response time expectations in order to ensure the security of their network and systems. Understanding response time requirements is also important in order to anticipate potential issues before they occur, as well as maintain a secure and reliable infrastructure.
  • Retail Loss Prevention is an important strategy used by stores to protect against losses due to shoplifting, employee theft, and other forms of customer fraud. This includes implementing security measures such as video monitoring, entry and exit alarms, plainclothes guards, and store-wide access control systems. It also involves effective training of store staff to recognize suspicious activity and react appropriately. Retail Loss Prevention also involves designing store layouts to reduce product visibility from public areas, and implementing security systems to reduce blind spots around merchandise. Awareness programs and workshops can help educate employees and customers alike on cyber security and to reduce the risk of theft and fraud.
  • Return fraud is when unethical customers attempt to purchase specific items using fraudulent or stolen payment details and then return them for store credit or cash. This type of fraud occurs in both physical stores and online. It can easily be accomplished because retailers often have lenient return policies and little to no protection against fraud. Merchants pay the price for return fraud when customers return counterfeit or damaged items that can no longer be sold. Fraudsters can exploit this by purposely damaging the items prior to returning them. To prevent return fraud, retailers can take measures such as enforcing stricter return policies and better tracking return items.
  • Reverse Address Resolution Protocol (RARP) is a networking protocol used for obtaining an IP address from a known Internet protocol (IP) address, typically for use in diskless workstations. RARP works in the opposite direction of ARP (Address Resolution Protocol), and converts Internet protocol addresses to physical device addresses. It is used when a computer with no permanent storage needs to obtain an IP address from a server. The protocol is based on broadcasts and replies and uses the Network Access Server (NAS) to send and receive data. The NAS then sends out a broadcast to all clients in the network, and when the broadcast reaches the intended computer, the computer sends back its IP address to the server. RARP is an important part of networks with diskless clients, as it provides an efficient and secure way to assign IP addresses to the clients.
  • Reverse engineering is the process of taking apart a product, piece of software, system, or other item in order to analyse, diagnose, and understand its internal structure, architecture, and/or working components. The goal of reverse engineering is to gain a greater fundamental understanding of the item's design, implementation, and purpose. It can also be used for malicious purposes, such as creating counterfeit items or uncovering passwords. In the field of cybersecurity, reverse engineering is used to analyse threats and develop countermeasures. It is also used to detect and understand unknown pieces of malware, and to discover weaknesses in software that can be exploited.
  • Reverse lookup is a type of cybersecurity technique used to identify a network user or computer by using the IP address to trace the user's identity. It is a useful tool for investigating suspicious behavior and malicious activities on a network. Reverse lookup allows an investigator to compare the IP address of a suspect to other IP addresses in the same vicinity, allowing the investigator to track the suspect's identity. This method of cyber investigation is common in organizations where suspicious or malicious network activity has been identified. The results of a reverse lookup can provide valuable information for an investigation, including the location and device type of the user suspected of carrying out the malicious activity.
  • A reverse proxy is a type of proxy server that is installed in a server network and retrieves resources from one or more servers on behalf of a client. It is the intermediary gateway between a client and the server, making it ideal for securing web applications and services. A reverse proxy is a security measure used to increase the security and reliability of a web application or service. By placing the proxy server between the client and the server, it gains control over the traffic received and transmitted by the web server or service and can be used to protect the application from unauthorized access, malicious attacks, data theft, or any other security breaches. Reverse proxies can also be used to block spam, improve performance, and balance the load between multiple servers.
  • Risk management is an important process of identifying, assessing, and controlling potential threats to an organization's security. It involves analyzing the potentials risks, quantifying the extent of risk, responding to the risk and identifying barriers to mitigate these risks. It is an ongoing process that requires constant monitoring, assessing and updating. The goal of Risk Management is to identify, evaluate, and prioritize potential security risks and take necessary steps to reduce or eliminate them. It is a way to ensure that an organization's assets are protected and that potential vulnerabilities are addressed. Risk management provides visibility into potential threats to ensure that the most appropriate and cost-effective preventive measures are implemented.
  • Risk assessment is a process utilized by anti-money laundering experts to identify and evaluate the risk of money laundering activities. This process involves analyzing current and potential risk factors, such as the background of customers and their business activities, the products and services offered, the geographic locations of the business, and the types of financial transactions conducted. The risk assessment also takes into account the customer’s financial history and sources of funds. The goal of this process is to determine the likelihood that a customer or transaction may be involved in money laundering activities. The assessment will also identify any weaknesses in the existing internal controls and recommend measures to prevent money laundering.
  • A Risk-Based Approach (RBA) is a method used by Anti-Money Laundering (AML) experts to identify, assess, and manage the risks posed by money laundering activities. It is a holistic approach that begins with the identification of money laundering risks and their sources, followed by the development of an effective risk management system. The key to an effective RBA is the ability to identify, assess, and mitigate potential money laundering activities. This includes evaluating customer profiles and transaction history, instituting internal controls, and establishing a robust compliance program. The purpose of an RBA is to protect financial institutions, governments, and other stakeholders from money laundering activities that could lead to legal repercussions and significant losses.
  • Risk-based Approach (RBA) is a risk management methodology used by Anti-Money Laundering experts to identify and assess potential money laundering activities. RBA looks at high-risk areas to detect any suspicious activities and assess the likelihood of money laundering activities occurring. The approach utilizes risk assessment techniques that are tailored to the specific requirements of the business, to identify and analyze the risks associated with money laundering activities. This approach helps to ensure that an appropriate regulatory framework is in place to protect businesses from the risk of money laundering.
  • Risk-Based Authentication (RBA) is an advanced form of authentication that ensures secure user access control via the assessment of user-specific risk profiles. It can refer to technologies that analyze and assess user-specific login attempts such as location, frequency, and timestamps. This information is used to determine the risk associated with each login request. If the risk is considered too high, then additional authentication steps may be required such as push notifications, one-time passwords, or biometrics. This authentication process is designed to limit the impact of fraud and cybercrime by preventing unauthorized access to systems and networks without disrupting user access and experience.
  • Risk management is an approach to managing potential losses in cyber security by identifying, assessing, and prioritizing risks, developing strategies to manage them, and monitoring and reviewing the effectiveness of those strategies. It involves proactive processes of analyzing the potential risks to an organization's networks, applications, and systems, and then formulating and implementing strategies to reduce the potential risks. By utilizing risk management, organizations are better able to predict and mitigate potential threats, reduce the cost of responding to security issues, and maintain regulatory compliance. This process also helps organizations be more prepared for any cyber attack, ensuring that the organization is able to promptly respond and mitigate any impact to the network and data.
  • Risk profiling is a money laundering prevention approach that uses a detailed risk assessment process to identify, analyze, and monitor the potential for money laundering in a financial institution. It evaluates the characteristics of an institution's risks related to customer types, product types, delivery channels, jurisdictions, and geographic locations. The risk assessment will then be used to create a tailored risk-based approach that supports the implementation of effective controls to manage those risks on an ongoing basis. The goal is to ensure that institutions have robust AML/CFT programs in place to protect their customers and businesses from being used in money laundering activities.
  • Rivest-Shamir-Adleman (RSA) is a public-key cryptosystem that utilizes asymmetric encryption. It is used to encrypt and decrypt data as well as create digital signatures. RSA is based on the difficulty of factoring large numbers which is the basis of the system's security. The encryption process is done by generating two distinct keys - a public key used to encrypt data and a private key used to decrypt data. The private key is held by the recipient, while the public key is published and made available to anyone who needs to send the recipient data. RSA is widely used and is considered to be a strong encryption algorithm, as it has not yet been broken.
  • Role-Based Access Control (RBAC) is a type of security mechanism used to control access to resources based on assigned user roles. RBAC provides an efficient and secure way of managing user permissions and rights to access sensitive information, allowing administrators to assign users to roles that reflect the job they do within their department or organization. For example, a database administrator would be assigned to the “DB admin” role, while those in different departments would be assigned to the “Executive” role. RBAC also helps ensure that users only have access to the resources they need in order to do their job, preventing accidental or malicious access to confidential or protected data. By designing a Role-Based Access Control system, organizations can maintain tight control over access to resources and protect the integrity of their data.
  • Romance scams occur when a victim is tricked by a person posing as a potential love interest. The scammer builds up trust and rapport, then entices the victim with promises of wealth or a lavish lifestyle. The scammer will usually create a sense of urgency or ask for money or a financial investment. To avoid becoming a victim, be cautious of requests for money or financial information from someone you don't know and trust, and never send money to someone without knowing them personally. Don't be rushed into investing money, and research any financial opportunities thoroughly before investing. Lastly, be aware of what information you share online, to help protect yourself from potential scammers.
  • Romanization is the process of converting non-Latin written language into the Latin alphabet. This is an important process in anti-money laundering as it makes it easier to identify names, addresses, and other information in data sets. Romanized information, when correctly implemented and correctly interpreted, is vital for efficient identification and tracking of financial transaction data. Romanization also helps to reduce discrepancies and errors in financial records that are linked to customer data. By allowing Latin characters to be used, it is easier to detect and analyze potential financial crimes.
  • A rootkit is a form of software or hardware that is used to gain privileged access (known as ‘root’ access) to a computer system or network. It works by hiding in such a way that is difficult to detect or remove from the system and will then allow an attacker to stay undetected for long periods of time. Rootkits are often used for malicious purposes such as stealing data, corrupting files, and inserting additional malicious code into a system. As such, they can be difficult to detect and remove, and thus a Cybersecurity Expert needs to be knowledgeable and experienced in order to recognize the signs of a rootkit and then take the appropriate steps to remove it.
  • A router is a network device that forwards data packets between computer networks. It works by connecting two or more networks together, such as your internet connection and the home or business network. The router uses protocols and algorithms to determine the best route for data to travel. It uses a routing table to map out the best paths for data transfer and provides network services such as IP address assignment. Routers also provide security measures such as firewalls and other security programs to protect data from malicious attacks. Routers are responsible for making sure data travels quickly and efficiently, and also ensure data is secure and protected.
  • The Routing Information Protocol (RIP) is an interior gateway protocol used in local area networks (LANs) for determining the best route for data to take from one network to another. It is used to discover and share optimal pathways for data packets travelling across networks. RIP works by broadcasting its routing table to all other machines on the network. These tables contain information about the topology of the network, including the distance between nodes. Each router keeps track of the best paths and periodically re-broadcasts this information so that all routers have information that is up to date. RIP is a distance vector routing protocol which uses hop count as its primary routing metric, so the best path is determined by the number of hops between the source and destination.
  • Remote Procedure Call (RPC) is a protocol that is used to execute certain operations on a computer remotely. RPC scans are a type of assessment tool used by cybersecurity experts to identify systems in a network that are vulnerable to external attacks on a certain port. During the scan, the expert probes system ports to search for any known weaknesses. Any discovered vulnerabilities are then assessed, and countermeasures are applied as needed to strengthen the system’s security. The scans are performed to ensure that all systems remain protected from malicious activity and unauthorized access.
  • Rule Set Based Access Control (RSBAC) is an access control model used in computing to define and enforce security policies among users and systems. It offers a secure, effective means of regulating access to computer systems, applications, and data. RSBAC uses a set of rules defined by an administrator to set up the required access levels and privileges for an individual or group of users. These rules are then applied to each user or system, which restricts their access based on the defined rules. Additionally, RSBAC can be used to define internal roles and responsibilities for a company, as well as to set up data security and privacy guidelines. This helps to ensure that unauthorized users cannot access confidential information, and that users have the appropriate privileges to perform specific tasks.
  • Rules-Based Fraud Detection is a type of fraud detection system that is based on pre-defined rules and business rules. These rules are used to identify potentially fraudulent transactions. The rules can be based on many different factors such as customer history, transaction type, amounts, data points, IP addresses, etc. These rules determine what should be flagged as suspicious or potentially fraudulent activities and then alerts the organization to investigate any potential cases. This type of fraud detection helps reduce costs associated with manual investigation and increase accuracy in detecting the fraudsters.
  • A Rules Engine is a software application designed to automate decision making by correlating the data it receives from an event with pre-configured rules to decide how to respond to the event. Rules Engines allow organizations to easily adjust the rules they use to make decisions as needed. The rules essential define the “if this, then that” logic used by the application to decide what action to take when it encounters an event. For example, if a transaction fails a certain risk threshold, it may be blocked or flagged for further review. Rules Engines offer organizations the ability to scale their decisions and policies by automating them.
  • Safe Harbor is a legal concept that provides certain legal protection from liability in certain circumstances. It is most commonly applied to financial transactions, such as those involving money laundering, which require compliance with laws and regulations to ensure a safe and secure financial environment. Safe Harbor provisions allow companies to protect themselves from liability when they demonstrate that they have taken reasonable precautions to ensure their compliance with applicable laws and regulations. This protection is particularly important for activities that have a high risk of money laundering, as well as for activities that involve large amounts of money.
  • Sales scam scams involve a criminal seeking to defraud a victim through the use of deceptive sales practices. Typically, the scam artist will contact a victim, often via telephone or e-mail, and make an offer for a specific product or service. The sales pitch may include a discounted price or an offer for a free trial of the product or service. In many cases, the scam artist will also request a certain amount of payment upfront, often in the form of a wire transfer or other irrevocable payment method. Once the payment has been made, the scammer often disappears or continues to solicit further payments. To protect yourself from a sales scam, always utilize secure payment methods, always conduct research on a company offering a product or service and never make payments upfront without a valid contract.
  • Sanction Designated Nationals (SDN) are individuals and entities that are subject to sanctions imposed by governments, regional organisations, and private sector entities. SDN's are typically designated by the Office of Foreign Assets Control (OFAC) in the United States and adhere to the Uniform Code of Military Justice. Sanctions are imposed in an effort to prevent terrorist financing, money laundering and other illicit activity, and to protect the interests of the U.S. and its allies. SDN's are typically listed in the federal register as well as in OFAC's list of specially designated nationals and blocked persons. Individuals and entities that are connected to the SDN's, either through business or personal relationships, can also be blocked and subject to financial sanctions.
  • Sanctioned countries are countries that have been subject to economic, trade, or financial sanctions by other countries or international bodies. These sanctions can be in the form of a ban on doing business in the country, restricting import of goods and services into the country, or freezing of assets located in the country. The purpose of these sanctions is to pressure the government of the sanctioned country into changing its policies or to comply with international norms. Sanctioned countries pose a high risk for money laundering activities, which is why anti-money laundering experts must be aware of sanctioned countries and their restrictions in order to maintain compliance.
  • Sanctions screening is a process by which organizations can identify transactions and individuals that may be subject to economic sanctions and other restrictions. It is an important tool for organizations and individuals to ensure that they are complying with applicable laws, regulations, and international agreements. It involves the collection of data from various sources, including the Office of Foreign Assets Control (OFAC) and other lists related to international sanctions and embargoes. The data is then analyzed to identify any potential matches and further reviewed to determine if any action needs to be taken to mitigate risk. Sanctions screening is an essential tool for organizations to prevent financial crime and ensure compliance with applicable laws.
  • Sanctions compliance refers to the measures taken by organizations to ensure that they are in compliance with the rules and regulations set by governments, international organizations, and other bodies with the purpose of regulating the flow of money in the global economy. Sanctions compliance involves monitoring, assessing and mitigating the risks of violating sanctions and conducting due diligence in order to ensure that organizations are not engaging in activities that could be considered as sanctions violations. Additionally, sanctions compliance requires organizations to maintain records of their transactions and regularly report to the authorities.
  • A Sanctions Compliance Officer (SCO) is an individual responsible for ensuring an organization’s compliance with economic and trade sanctions imposed by governments and international organizations. The SCO is responsible for monitoring and identifying activities that may violate relevant sanctions regulations, developing and implementing a sanctions compliance program and policies, and taking appropriate measures for compliance. The SCO also works to ensure that the organization is aware of and compliant with sanctions regime updates. The SCO must be knowledgeable about the laws and regulations related to the organization’s industry and the sanctions regimes in place. Additionally, the SCO is responsible for coordinating with internal and external stakeholders to ensure compliance with sanctions regulations.
  • A Sanctions Compliance Program (SCP) is a set of policies, procedures and controls an organization puts in place to identify, monitor and manage financial transactions that might be subject to applicable sanctions laws and regulations. The objective of a SCP is to ensure that the organization does not enter into financial transactions with individuals, groups, or countries subject to applicable sanctions, including those listed by the United Nations, the US Office of Foreign Assets Control (OFAC), or other international bodies. An effective SCP will provide a comprehensive sanctions risk assessment and ongoing monitoring, review, and evaluation of transactions for sanctions compliance. The SCP should also include a system for recordkeeping, reporting, and internal controls to ensure compliance with applicable laws and regulations.
  • Sanctions Due Diligence (SDD) is the process of verifying a customer, party or transaction against publicly available sanctions data. It is an integral component of an effective Anti-Money Laundering (AML) program. SDD enables organizations to comply with the applicable laws and regulations, detect and report suspicious activities, and protect against reputational and other financial risks. It involves reviewing the customer’s source of funds, their activities, and any other associated individuals or entities to identify any potential risks associated with the customer, transaction, or other parties. SDD also helps organizations to identify potential fraud and money laundering activities, detect sanctioned parties and activities, and take necessary measures to reduce risks.
  • Sanctions evasion is the active avoidance of the application of sanctions imposed on a particular entity or individual. Sanctions, which can take the form of economic or trade restrictions, usually aim to coerce an individual or entity to change their behavior. Sanctions evasion occurs when a person or entity attempts to circumvent these sanctions to continue engaging in illicit activities. This evasion could involve the use of front companies, false trade documents, shell companies, or the use of a third party to hide the identity of the sanctioned entity or individual. As an Anti-Money Laundering Expert, it is my job to detect and investigate instances of sanctions evasion and recommend appropriate actions to prevent further illegal activities.
  • Sanctions List Monitoring is a key component in the fight against Money Laundering. It requires screening of financial transactions to identify and verify if any of the parties involved are listed on a sanctions list. This monitoring is intended to prevent transactions with entities that are subject to sanctions, or any activities related to them. It is a critical component of Anti-Money Laundering compliance, allowing organizations to detect and prevent any transactions with sanctioned parties, to ensure compliance with the applicable regulations and to protect against any financial risks. The process typically involves the comparison of customer data, such as name, address, or bank account details, against the sanctions list, to help ensure that the organization is not engaging in any prohibited activities.
  • A sanctions regime is an enforceable body of rules, regulations and measures aimed at punishing individuals or entities involved in illegal activities such as money laundering. This type of regime works to prevent criminal activities such as terrorism and money laundering from occurring in the future by limiting access to materials or funds that can be used for their illicit activities. Sanctions regimes can include things like asset freezing and travel prohibitions, as well as a requirement for more stringent financial reporting and customer due diligence processes. In short, sanctions regimes are put in place to ensure that criminals and illicit activities do not have access to the resources that could be used for their own personal gain.
  • Sanctions Screening is the process of identifying potential financial transactions and customers that may be subject to local or international sanctions. It is an important tool used by Anti-Money Laundering (AML) experts to detect and prevent criminal activity. The screening process utilizes databases of sanctioned individuals and entities such as the Office of Foreign Assets Control (OFAC) and the United Nations Consolidated Sanctions List. During the screening process, AML experts need to review customer information, such as names, addresses, and other identifying information, to ensure that no transactions are conducted with prohibited entities and individuals.
  • Sandboxing is a method of securely isolating untrusted software and processes from a trusted environment with the purpose of preventing malicious code from interfering with the secure environment. It is a type of security technique used to separate untrusted programs from a secure system, typically to prevent malicious activities from impacting any other part of the computer system. It works by assigning a certain amount of system resources to the untrusted program, preventing it from overflowing that resource, and keeping it from accessing any other part of the system. This way, any malicious activity is kept in the sandbox, and the rest of the system is safe. Sandboxing is an effective way to protect computers and networks from malicious actors, and is an important part of a complete cybersecurity strategy.
  • Strong Customer Authentication (SCA) is an authentication process designed to provide an extra layer of security when customers are accessing online services. It requires customers to provide multiple pieces of identification such as a password, a secure key, or some other form of authentication. This helps prevent unauthorized access and provides secure authentication, ensuring that the user conducting the activity is indeed the customer the system expects. Companies use SCA to protect customers from security threats and to reduce the risk of fraud for both the customer and the company. SCA works to verify the identity of a customer by using two-factor or multi-factor authentication, so that only customers who possess the necessary credentials are able to gain access. This additional layer of security helps protect customers from security threats, providing a more secure customer experience.
  • A scam is an attempt by a malicious individual or group to deceive and financially exploit individuals by offering goods, services, investment opportunities or other promises that are never fulfilled. It usually involves some form of false advertising or deceptive communication that misleads individuals into believing they will receive a substantial benefit. Scams can take place online, through email, text messages or even by phone. Scammers typically target vulnerable individuals and often rely on social engineering tactics. They may also use phishing techniques and malicious software to steal information or money, or to control victims’ devices. As a Cybersecurity expert, it is important to recognize the common tactics used by scammers, the different types of scams and how to protect oneself, as well as how to take action if you become a victim of a scam.
  • A Scammer is an individual who uses deception to acquire goods, services, or money from a victim. They may pretend to be someone they are not, or use fraudulent means to obtain personal data. Scammers are often smooth talkers and skilled at convincing people to part with their money or data. Fraudulent activities they may use include falsifying documents, setting up fake websites, sending spoofed emails and texts, pressuring victims to act fast, or preying on a victim's fears. Scammers can also use phishing tactics, sending emails that look like they come from a legitimate source, in order to bypass security protocols and gain access to sensitive information. They may also use malware as a way of gaining access to systems. Scammers are prolific in the online world, but they are also known to use older methods such as cold calls or money transfers.
  • A scam is a type of fraud scheme where an individual deceives someone else in order to gain a financial or other advantage. Scammers may use various techniques, such as phishing emails, promotional stunts, impersonations of trusted persons, or even computer software, to try to trick their victims. Scammers commonly attempt to convince victims to provide personal details, send money, invest or purchase fraudulent goods or services. They may also try to obtain information they can use to access bank or credit card accounts or commit identity theft. It is important to always be wary of any request for personal information, such as Social Security numbers, passwords, bank account numbers and other private information.
  • Scareware is malicious cyber security software which attempts to scare users into purchasing a bogus product or service. It might take the form of a pop-up ad that offers a "free scan" of a user's system and falsely claims to have found serious threats. When users click the ad to scan their system, the scareware displays a list of infections that cannot be removed unless the user subscribes to the phony service. Scareware also may scare users into providing personal information or paying for a full version of the software. The goal of scareware is to convince users to hand over sensitive information or money to the cyber criminal who created it. Some scareware have been designed to trick users into downloading ransomware, a malicious program that hijacks a user's device.
  • Scavenging is a type of attack in which an attacker gathers confidential information from a leaked source, usually from a third party. The purpose of scavenging is to gain access to sensitive data, such as passwords, account numbers, and other confidential information that can be used to gain unauthorized access to a system. Scavenging is an intrusive method of attack, as attackers either use brute force methods or use publicly available tools to obtain confidential information. The goal of scavenging is to acquire and accumulate confidential information over a period of time in order to gain access to a system. Scavenging is highly effective when a system lacks sufficient security measures and robust authentication protocols.
  • Scholarship scams are fraudulent schemes that target students and universities. Scammers often claim to be from trusted organizations or government agencies and promise large sums of money to students in exchange for personal information or a fee. Oftentimes, the scammer will ask for a student or university's budget or financial details, or for the student to wire a fee. This information can then be used for personal financial gain or identity theft. Those falling for these types of scams may also be asked to provide copies of passports, driver's licenses, or other sensitive documents. To avoid such scams, students and universities should thoroughly investigate any organization that claims to offer generous scholarships. Furthermore, they should closely check any website, contact information, email, and phone number listed with the offer.
  • The Scope of Licensing refers to the conditions, parameters, and areas covered by a money laundering license. It may include the geographical area in which the license is valid, the types of financial transactions authorized, or the types of customers or industries that can be supported by the licensee. It is important for anti-money laundering experts to understand the Scope of Licensing in order to ensure that a licensee is operating legally and within the boundaries of the relevant licensing regulations.
  • The scope of permitted activities for Anti-Money Laundering (AML) Experts is an important framework that outlines the roles and responsibilities of a professional tasked with investigating, preventing, and monitoring money laundering and other financial crimes. This scope defines the areas of expertise and activities that an AML expert is authorized to perform, including providing advice on regulatory compliance and the management of risk-based systems, conducting investigations and risk assessments, and training other personnel on AML compliance. Additionally, it may specify the types of services that an AML expert is authorized to provide and the applicable standards, processes, and procedures related to AML compliance.
  • Scrapers are malicious tools used to extract data from websites without authorization. Such extractions often take place with the expressed or implied authorization of the website's owner or administrator. Scrapers typically run automated scripts to extract web pages, images, and other content from web sites for their future use. This data can then be sold, used for marketing purposes, or even used in the creation of malware or other illegal activities. Scrapers frequently execute brute force attacks on logins, extract sensitive information from websites, and create DDoS (distributed denial-of-service) attacks. They can also automate data mining, manipulate HTML code, and install hidden malicious code on a website. It is important to be aware of the signs of a scraper attack and secure your website against scraping activity. This can include installing a web application firewall, limiting the number of login attempts, and hiding HTML content.
  • Script kiddies are cybercriminals who use existing scripts and tools without understanding them in order to exploit vulnerabilities in computer systems or networks. Often they lack the technical knowledge of more experienced hackers and use these scripts and tools without modifying them - they are looking for quick and easy access to data or resources. The term ‘kiddie’ suggests a lack of understanding of and/or respect for the severity of their actions. Script kiddies commonly target unsuspecting victims with malware that can lead to financial losses, identity fraud, or the disruption of computer systems or networks. As their name implies, script kiddies are considered to be the lowest level of hackers, and typically don’t have the knowledge and technical skill to create their own malware or weaponize a script.
  • The second line of defense for Anti-Money Laundering is a system of governance and internal control activities designed to ensure compliance with applicable laws and regulations and protect the organization from money laundering and other financial crimes. This includes internal audit and compliance processes, adequate risk assessment, training programs and adequate communication of policy, as well as monitoring and reporting activities. This serves to ensure that an entity is in compliance with laws, regulations and industry standards and that the organization is taking reasonable steps to identify and prevent money laundering.
  • Second Party Fraud is fraud in which two parties are involved, with one having the intention of intentionally deceiving the other. The vulnerable party is tricked into believing that they are receiving a legitimate service or product for a financial gain. It can occur in a variety of situations, including but not limited to, when a sender of funds , recipient of funds, or middle man, uses deception to defraud a third party from getting their money or goods. It can manifest as payment fraud, identity fraud, loan fraud, or other type of fraud. These fraudulent activities are managed through the manipulation of users, processes and systems within the business. Organizations need to focus on prevention measures and have appropriate controls in place to avoid such fraud.
  • Sectoral sanctions are a form of targeted financial and economic sanctions that limit specific industries or entities from engaging in certain activities. These sanctions are typically implemented by a government authority, such as the United Nations, or the EU and the US, to prevent certain activities from taking place, such as terrorism, organized crime, and money laundering. Sectoral sanctions are intended to restrict activities in certain sectors of the economy or limit access to certain resources in order to reduce the risk of illicit activity. These sanctions can also be used to restrict access to financial resources or technical expertise and to limit trade between countries. Sectoral sanctions can be very powerful tools in the fight against money laundering and other forms of financial crime.
  • The Sectoral Sanctions Identification List (SSIL) is a list created and maintained by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC). It identifies individuals and entities that have been sanctioned by the U.S. government due to their involvement in certain prohibited activities such as money laundering, terrorism, and other activities deemed to be of national security concern. The list contains the names of the individuals and entities that have been sanctioned, and provides information such as their aliases, place of business, and date of birth. This information can be used by financial institutions, law enforcement, and other government agencies to ensure compliance with U.S. sanctions laws and regulations. The SSIL is an essential tool for anti-money laundering experts to ensure that their clients, employees, and partners are not engaged in prohibited activities.
  • Secure Electronic Transactions (SET) is an encryption protocol designed to ensure secure payments over the Internet. It was developed jointly by Visa and MasterCard to provide authenticated and confidential transactions between buyers and merchants. SET provides secure communication between the buyer's web browser and the seller's web server. It uses digital certificates, asymmetric encryption, and digital signatures to authenticate each side of the transaction and to prevent tampering with the payment data. The protocol also supports the exchange of encrypted payment information to ensure that the payment information is kept confidential during the transaction. SET is widely used to protect credit card payments performed over the Internet.
  • Secure Shell (SSH) is a cryptographically secure network protocol for secure data communication and remote command-line login. It is typically used to secure remote login to servers, network devices, and applications. SSH provides authentication, encryption and integrity protection of data across untrusted networks. An SSH connection is established with a client and server application. The client application is responsible for verifying the identity of the server, creating an encrypted connection and establishing a secure tunnel between the two machines. During the connection, commands can be securely sent and received across the network. SSH can also be used to securely copy files between computers, forward ports and X11 connections. Secure Shell (SSH) is an essential network security tool for controlling access to critical systems.
  • Secure Socket Layer (SSL) is a cryptographic protocol used to secure communications between two parties over the internet. It works by providing a secure connection encrypted with Transport Layer Security (TLS) protocol. It helps to protect the transmission of data between a client, or web browser, and a server. SSL also authenticates the identity of the server to the client, as well as enabling mutual authentication of the server and the client. By using this cryptographic protocol, SSL provides confidentiality and integrity of the data being transmitted, meaning that no third-party can intercept or tamper with the data. Additionally, SSL ensures the server is authentic and not a malicious imposter. Finally, SSL also provides usage of digital certificates to help establish trust and server identity.
  • Security as a Service (SECaaS) is a cloud-based security services model in which a provider delivers security-related functions virtually to a customer. SECaaS can include cloud-based firewall services, intrusion detection/prevention systems, security event management, vulnerability assessment, identity and access management, and other security-related services. These services are typically provided on a subscription basis, allowing customers to outsource security functions to the cloud provider, thus reducing operational complexity and cost. SECaaS allows customers to rapidly deploy security services in the cloud and access security tools that were previously costly or difficult to obtain. Furthermore, SECaaS allows customers to stay up-to-date with the latest security patches and technologies.
  • Security Auditing is the process of evaluating the security measures within a system and determining the risk associated with said system. It involves identifying any potential weaknesses or vulnerabilities as well as assessing the effectiveness of existing security controls. Security Auditing also involves documenting any necessary changes to the system in order to improve the security posture. This is done by using a wide range of tools to assess the system and its security. Security Auditing is an essential part of any organization’s security plan and should be regularly conducted in order to ensure the security of the organization’s data and network.
  • Security Awareness Training is a structured educational program that aims to increase users’ knowledge and understanding of cybersecurity threats, risks, and precautions. It provides comprehensive guidance on best practices for protecting information and organizational resources, including how to identify and respond to malicious activities and to protect against potential attacks. It helps to ensure that users understand their roles in protecting their organization and its information assets, as well as their personal devices, from malicious activity. Security Awareness Training also helps to ensure that users remain vigilant and alert to the latest cyber threats. It is an essential tool for organizations to promote a culture of cybersecurity awareness and to protect their data and networks from cyber threats.
  • Security Incident Response is a process used to respond to an incident or security breach. This process is designed to help organizations identify, investigate, and respond to security incidents in an effective and timely manner. It involves the following steps: identification and containment of the incident, notification of the parties involved, assessment of the impact on the organization’s systems and data, determination of the root cause and remediation steps, implementation of preventive measures to reduce the likelihood of similar incidents in the future, and communication of the event to both internal and external stakeholders.
  • Security Information and Event Management (SIEM) is an integrated platform for collecting, managing and analyzing large amounts of security-related information from multiple sources. It collects data from multiple sources, such as servers, applications, firewalls, and switches, in order to detect and alert on incidents. It combines the functions of Security Incident and Event Management (SIEM) and Security Information Management (SIM) to provide users with a single platform for monitoring, identifying and remediating security events. It uses powerful analytics to spot anomalies and detect malicious activity, and offers detailed reports, dashboards and threat intelligence. As a result, SIEM provides critical visibility into the security posture of an organization and helps administrators take action quickly to mitigate any threats.
  • A Security Operations Center (SOC) is a physical or virtual security department that monitors and analyzes an organization's security posture 24/7. It employs a combination of people, processes and technology to detect, investigate, and respond to cyber threats. Using an array of security tools and processes, a SOC team is tasked with collecting and analyzing log data, identifying security incidents, assessing security threats and developing a response plan. A typical SOC consists of several teams, ranging from threat intelligence and incident response to digital forensics, malware analysis and security operations. The primary goal of a SOC is to monitor and protect an organization's network and data from malicious external actors.
  • Security Orchestration Automation and Response (SOAR) is a specialized type of software that is used to automate the response to security incidents. SOAR leverages orchestration and automation to streamline system security operations by providing the ability to quickly respond to threats. It collects and aggregates data from a wide range of sources, then categorizes that data based on security criteria, and then automates responses accordingly. SOAR can be used to identify, investigate, and respond to threats, as well as to trigger actions such as email alerts, blocking network access, and other security-relevant actions. By automating these processes, SOAR reduces the time and resources it takes to respond to potential threats, thus improving the overall security posture of any given system or organization.
  • Security Orchestration, Automation and Response (SOAR) is a security strategy which combines the process of manual threat response with automated response and remediation techniques to help organizations quickly detect, respond and remediate security threats. SOAR utilizes coordinated, repeatable tactics that are deduced from the analysis of data gathered from disparate sources to give organizations the ability to contain and remediate security threats effectively and efficiently. SOAR can integrate with existing IT infrastructure such as SIEM, CMDB, and more to accelerate incident response and threat prevention. SOAR also streamlines and automates playbooks and can create actionable information from data gathered from sources such as endpoints, logs, custom data sources, and more. SOAR enables organizations to respond faster and more effectively to rapidly changing threat landscape.
  • Security perimeter is a physical, administrative or technical boundary that is put in place to protect an organization’s information and data from unauthorized access. This can include firewalls, encryption, data integrity controls, access control, isolation, segregation and more. Security perimeter provides a layer of security that can help protect internal and external networks and assets. It is important for organizations to set up a strong security perimeter to properly protect their assets and create a boundary that is difficult to penetrate. Additionally, organizations need to regularly maintain the security perimeter to ensure it is up to date and capable of withstanding current threats.
  • A security policy is a document which outlines the practices, principles, and guidelines of an organization in order to protect its IT assets and resources. It establishes the objectives and outlines the measures used by the organization to ensure the protection and integrity of its data and information systems. It outlines the roles and responsibilities of the organization’s employees, the deployment of security measures, and the methods used to respond to potential security incidents. It also serves as the foundation for the organization’s security strategy in order to secure its assets and resources from any malicious activity. Security policies are important in allowing an organization’s IT infrastructure to be managed in a consistent and secure manner.
  • A Security Token is a physical device used to gain access to an electronically restricted resource. It generally acts as a two-factor authenticator, providing an extra layer of protection beyond just a password. A security token is typically a small device, such as a card or a key fob, which possesses a built-in authentication mechanism. It generates random codes that the user must input in order to gain access to the resource in question. As such, even if a password or other credentials are leaked or stolen, unauthorized people would not be able to gain access to the resource unless they also had access to the physical security token. Security tokens are commonly used to secure accounts in the banking and finance industry, for IoT device protection, and for secure remote access to sensitive company networks.
  • Seize and Freeze is a term used in Anti-Money Laundering (AML) enforcement to refer to the action taken by a regulator or law enforcement agency to restrict access to assets controlled by money launderers, either through confiscation or freezing of the assets. Seize and Freeze actions are taken when a money laundering scheme is discovered and the assets are believed to have been derived from criminal activity. The main purpose of Seize and Freeze is to prevent the assets from being transferred or otherwise used by the money launderers. This can include seizing assets, freezing bank accounts, and preventing the transfer of funds. Seize and Freeze is also used to protect innocent parties who may have unknowingly been part of a money laundering scheme.
  • A senior foreign political figure is an individual who holds a prominent or influential leadership position in a foreign government. These individuals often wield considerable power, and make decisions that affect the economic and political stability of their country. As an Anti-Money Laundering Expert, it is important to be aware of these individuals as they may pose a higher risk of involvement in illicit activities or money laundering schemes. It is therefore important to take the necessary steps to identify, assess, and monitor these individuals and their related transactions to prevent any potential financial crime.
  • Sensitive data refers to any type of information that can be used to identify an individual or provide access to confidential information and systems. It includes items such as Social Security numbers, credit and debit card numbers, bank account numbers, and passwords. Personal data such as individuals' birthdays, addresses, drivers' license numbers, and biometric information also falls within this category. Business and government organizations frequently store sensitive data in databases and other environments, and such data is often subject to various compliance and security regulations, such as the European Union's General Data Protection Regulation. Any unauthorized access to or use of sensitive data could result in serious financial and reputational risks to organizations, as well as severely compromise individuals' privacy. To mitigate such risks, organizations should adopt adequate security measures to protect sensitive data, such as encryption, multi-factor(...)
  • Sensitive information is an umbrella term for any type of data that must be stored and or accessed with heightened security due to its confidential nature. This type of data may be classified as highly sensitive, private, or confidential. As a cybersecurity expert, it is important to understand and be aware of the sensivity of this data, as it can be particularly vulnerable to unauthorized access and abuse. Examples of sensitive information may include, but not be limited to, private financial information, social security numbers, driver’s license numbers, passport numbers, health records, intellectual property, and many other types of data. It is essential that any organization that handles sensitive information have strict security protocols in place to ensure that it is protected against unauthorized access and use.
  • The Serious Fraud Office (SFO) is an independent government department within the UK Ministry of Justice. It works to prevent and detect serious or complex fraud, bribery, and corruption and to bring offenders to justice. It investigates and prosecutes the most serious and complex cases of fraud, bribery, and corruption. This includes investigating fraud and corruption which involves a number of individuals or organisations. It also looks at financial crime, market abuse and corporate governance. The SFO also ensures that organizations comply with the UK’s anti-corruption laws, as well as advising on fraud prevention and providing guidance to businesses on counter fraud and corruption initiatives. The SFO’s ultimate aim is to provide a fair and effective system of fraud control that is efficient, cost effective, and reduces the number of victims of fraud.
  • Session Hijacking is a type of attack used by malicious actors to gain illegitimate access to another person's active user session. It works by exploiting security weaknesses in the authentication process through which an attacker obtains a valid session ID (e.g. cookie, token, etc.) and uses it to gain access to the victim's account without their permission. The attacker may then be able to view and interact with the victim's online account as if they were the legitimate user. This type of attack can be used to gain access to sensitive data or to control unauthorized resources, potentially leading to data theft, identity fraud and other security breaches.
  • Session hijacking, also known as cookie hijacking, is a malicious attack that forces the user to take actions without their knowledge. It is a type of cyber attack that allows an attacker to hijack an active user's session and gain access to their account information. The attacker is able to gain access to the user's account by stealing the user's session cookie – a small piece of data stored in the user's browser. This type of attack can be used to gain authenticated access to any website that the user has previously authenticated on. Session hijacking can be carried out in any number of ways, but the most common techniques are IP spoofing, URL manipulation, and web application vulnerabilities. It is important to remember that this attack can be extremely dangerous and can cause severe damage to the user's system if left unchecked. To prevent these types of attacks, it is important that system administrators and users take the necessary steps to ensure the security of their systems.
  • A session key is a cryptographic key which is used to secure data communications between two parties over a computer network. It is a shared secret key that is used to encrypt data during the session and is exclusive to the two parties. It is generated at the beginning of a connection session and is discarded and regenerated at the end of the session. Session keys are used to improve security for data communications by providing encryption, authentication, and integrity of the data being transmitted. Session keys are typically negotiated in order to provide secure communication, and any data that is transmitted over the network is encrypted using this key.
  • A settlor is a person who creates a trust with assets. The settlor has the legal responsibility to ensure that the trust is established in compliance with all legal and regulatory requirements, including anti-money laundering laws. The settlor has the power to appoint trustees, recipients of the trust property and beneficiaries. The settlor is also responsible for specifying the terms and conditions of the trust, including how the trust's assets will be managed and distributed. Settlors are expected to be aware of the risks of money laundering and terrorist financing when setting up a trust and to take reasonable steps to mitigate these risks.
  • Secure Hash Algorithm 1 (SHA1) is a cryptographic hash function used to generate a message digest of 160-bit length from any arbitrary input data. It is commonly used to verify data integrity and digital signatures. SHA1 is a widely used hash function that produces a unique hash value for a given input of any length. The hash is created using a complicated algorithm which involves a series of mathematical transformations that convert input data into a fixed size output. The output produced is always the same length and is designed to be resistant to manipulation. SHA1 is considered to be one of the most secure cryptographic hash functions available and is commonly used to create digital fingerprints for software, documents, and other files.
  • Shadow password files are an electronic form of authentication created on a computer system to protect user passwords. They are stored in a secret, protected location, separate from the main password file. Shadow passwords allow only system administrators to access user passwords, providing additional security for sensitive user information. When a user attempts to log in to a system, the login program will check both the main password file and the shadow password file for the correct password. This prevents malicious users from gaining access to password files and using stolen passwords. The contents of the shadow files can also be encrypted using a variety of algorithms, making it even more difficult for malicious users to gain access.
  • Sham divestment occurs when a business or individual attempts to disguise the proceeds of illegal activity by investing in an asset for a short period of time, only to quickly divest the asset and transfer the proceeds out of the country. Sham divestment is a technique used by criminals to commit money laundering. It has become increasingly common as criminals have become more adept at hiding their illicit activities. Sham divestment involves hiding the actual source of the money and can also involve using false names and documents, as well as using companies or trusts to disguise the origin of the funds. To prevent this type of money laundering, financial institutions must be diligent in monitoring and reporting any suspicious activity.
  • A shelf company is a pre-registered company that is available for immediate purchase from a company formation agent. Shelf companies are formed with the purpose of providing a ready-made entity that can be used for various legal and financial purposes. This can include anything from setting up a business, to forming a trust fund or even taking advantage of tax regulations. Anti-money laundering experts must be aware of the formation of shelf companies as they can provide a potential conduit for illicit activities. Transactions may be made through the shelf company to mask the origin of the funds or to launder profits. The expert must remain vigilant in monitoring and investigating any activity by shelf companies.
  • Shellcode is a type of code associated with software exploitation. It is a sequence of bytes typically written in assembly language, which is used as the payload in exploits to gain unauthorized access to a system. It typically consists of instructions that are executed directly in memory without being written to disk, thus bypassing security measures. Shellcode can be used to spawn a new shell, create a new process, or directly inject itself into the memory of a running process. It is often used by attackers to compromise systems, modify processes or escalate privileges on a target machine.
  • A Shell Bank is a financial institution whose primary purpose is to establish the appearance of legitimacy for the purpose of obscuring the identity and source of illicit funds. It does not have a physical presence, is not registered or regulated in any jurisdiction, and does not conduct any banking activities. Shell Banks are often used by money launderers and other financial criminals to conceal or move their assets without detection. The use of Shell Banks also enables criminals to hide the paper trails associated with their activities, making them much more difficult to trace and prosecute.
  • A shell company is a corporate entity that has no active business operations, assets or employees and is used to hide the true ownership of a business or investment. These companies are used to evade taxes, move money from one country to another, and launder money. Shell companies may also be used to facilitate fraud and other illegal activities. Since the company has no public records or business activity, it is difficult to trace the origin of assets or investments connected with these companies. In order to combat money laundering, governments have implemented laws requiring companies to accurately identify the beneficial owners of their business or investments.
  • Shopping cart technology allows customers to purchase goods and services online in a virtual space. It provides customers with a convenient way to collect items they wish to purchase, review their cart and proceed to purchase with ease. Shopping cart technology is made up of two key components – a secure shopping cart and a payment gateway. The shopping cart securely stores customer information and selected payment options, allowing customers to proceed to a secure payment gateway. The payment gateway processes and accepts payments, allowing customers to purchase goods securely and quickly. Shopping cart technology allows the customer experience to be more pleasant and secure, allowing them to easily browse and select items to purchase within their budget.
  • Shoulder surfing is a type of physical security attack in which someone attempts to gain access to confidential information by literally looking over a person's shoulder while they are using a computer or other device. This type of attack typically targets individuals in public areas such as airports, coffee shops, and libraries. It is usually conducted without the individual's knowledge, although the attacker may be discreet or highly visible depending on the situation. Shoulder surfing is most often used to gain access to passwords, PIN numbers and other confidential information that could then be used for malicious purposes. It is considered to be one of the lowest tech forms of cybercrime, but is still highly effective and can lead to identity theft, fraud, phishing attacks and other cyber security threats.
  • Security Information and Event Management (SIEM) is a comprehensive security system designed to centrally monitor, detect and analyze network-based threats and related activity within an organization's networks and systems. It uses a combination of software and hardware components to collect security-related events from multiple sources, including hosts, applications, and network devices. These collected events can then be parsed and analyzed by SIEM to create meaningful security intelligence insights. SIEM also enables organizations to react in real-time to threats, ensuring the safety of their networks and systems. Additionally, SIEM provides an audit trail, making it easier for administrators to track and address any potential issues. Therefore, SIEM is a critical tool for enabling organizations to effectively prevent and respond to security incidents quickly and efficiently.
  • SIM Cloning is the process of taking a copy of one mobile phone SIM (Subscriber Identity Module) card and making an identical copy. This cloned copy can be used to access the original user's data, including stored information such as contact lists and text messages, as well as their phone services. The cloning process requires a SIM card reader, a blank SIM card, and access to the original SIM card. The copied data is then stored on the blank SIM and inserted into another device. By doing this, a fraudster can take control of the original user's account and use it for malicious activities, such as making unauthorized calls, sending malicious text messages, or perpetrating identity fraud.
  • SIM swapping is a type of cyber attack in which a malicious actor takes control of a victim's mobile phone number by convincing their cellular provider to switch the victim's SIM card to a device under their control. In this way, the attacker gains access to the victim's phone and is able to intercept text messages and calls, as well as access any accounts associated with the phone. SIM swapping may also involve the use of social engineering, phishing, or other malicious techniques in order to carry out the attack. This attack can be used to bypass two-factor authentication, or gain access to banking, financial, or other sensitive accounts. As such, it is important for individuals to practice good cybersecurity hygiene and be aware of the potential for this type of attack.
  • Simple Checks are a basic preventive measure for Anti-Money Laundering. They consist of simple checks that can be used to verify the identity of customers, detect and prevent transactions which may be related to money laundering or terrorist financing. This includes verifying the customer's identity, obtaining customer information, and performing risk assessments. Simple checks also include processes for obtaining and verifying customer information, monitoring transactions for suspicious activity, implementing and monitoring customer due diligence, and training employees on Anti-Money Laundering laws and regulations. By utilizing these simple checks, a financial institution can become better equipped to detect, prevent, and report suspicious financial activity.
  • Simple Network Management Protocol (SNMP) is a management protocol that facilitates the exchange of management information between network devices. It is a standard protocol used in most networks today. SNMP is used for monitoring and managing network devices, such as, routers, switches, and servers. SNMP provides for the ability to measure various aspects of network devices, such as, uptime, error history, and network traffic, in order to identify and troubleshoot any network issues. SNMP is most successful when implemented in conjunction with other network management tools, such as, network configuration, access control, and logging.
  • Single Sign-on (SSO) is an authentication process that allows a user to access multiple applications or services with one set of credentials. This includes entering a single username and password to access multiple systems or domains with the same authentication information. SSO is an effective security measure since it reduces the amount of login records, passwords and other authentication credentials that users have to remember and type in. In addition, it enhances security and decreases hacking attempts, since hackers are unable to access multiple systems with a single unsecured set of credentials. Additionally, it streamlines identity management and improves the user experience, reducing the amount of time and effort needed for logging into multiple systems.
  • A skimmer is a type of malicious technology used to steal card information from debit or credit cards. It is inserted in point-of-sale machines, ATMs, and other card readers, and it intercepts information from cards as they are used. Skimmers are often hard to detect, as they may fit on top of existing devices and look like legitimate technology. By taking a card's data, skimmers can recreate a card and make fraudulent purchases or withdraw money from the accounts they are connected to. Businesses that accept cards should always inspect their machines and take appropriate security measures to protect against skimmer attacks.
  • Skimming is a type of fraud in which the perpetrator uses a small, portable device to collect data from unsuspecting victims' credit or debit cards. The device is typically inserted into a card reader and scans the cards' magnetic strips. It then copies the cardholder's information and stores it, allowing the perpetrator to use the data for illegal purposes. Skimming is a relatively common form of card fraud and is difficult to detect as the devices are easy to hide and can come in many forms. To prevent skimming, cardholders should monitor their accounts regularly and look out for any suspicious activity. They should also ensure they use devices with secure locks to ensure their cards' data is safe.
  • Skimming is the illegal practice of falsifying and stealing money off sales receipts. It generally occurs when cashiers and/or store personnel collect payment during a sales transaction, but do not record the payment in the accounting system. The culprits siphon or skim a portion of the total transaction amount by manipulating the sales receipts, or simply pocketing the cash. Other times, they will simply transfer the funds to an alternate, untraceable account. Skimming can be especially damaging to small businesses, jeopardizing their financial stability and reputation. Therefore, it's important for retailers to be aware of potential skimming activities and to act quickly to stop and prevent it.
  • A Small Payment Institution (SPI) is a financial institution that conducts limited payment services on a professional basis, such as handling and transmitting money, issuing and assembling payments, and other related activities directed at providing payment services to the public. These services may include the provision of payment accounts, the execution of payment transactions, the issuance of debit and credit cards, and the sending and receiving of money transfers. SPIs are generally required to register with the relevant local or national regulatory authority and adhere to Anti-Money Laundering (AML) requirements.
  • A smart card is a sophisticated type of card, usually with an embedded integrated circuit or microchip, used for authentication, verification, and recording purposes. These cards typically store information, both in the form of an electronic magnetic strip and within the chip itself. The data stored on the card serves as the user’s identity, encryption key and payment information. Smart cards are used primarily by financial institutions and related businesses in order to securely protect customer data and provide secure transactions, as well as increased security against fraud. Additionally, smart cards are often used for government-issued forms of identification, such as drivers licenses, ID cards and passports.
  • SMishing is a type of malicious attack using SMS (Short Message Service) messages as the delivery vector. This type of attack is most commonly used to trick users into handing over sensitive information like financial details and account numbers. Hackers send fake messages, usually posing as a legitimate company, requesting urgent action such as updating an account or clicking on a link which takes the user to malicious websites or downloads malicious code. A variation of SMishing is called vishing, where the attackers use voice messages instead of text messages. Both SMishing and vishing are utilized as part of a larger range of social engineering attacks as they rely on unsuspecting users giving away sensitive data by responding to malicious messages.
  • A Smurf Attack is a type of distributed denial of service (DDoS) attack that is used to flood a network with large numbers of ping requests. It works by sending many ICMP ping requests, with a spoofed source IP address, to the broadcast address of a target network. The resulting flood of ICMP ping replies overwhelms the target network, preventing it from responding to legitimate traffic. The goal of a Smurf attack is to exhaust the target network's resources, making it unable to handle any requests. The attacker does not need to have high levels of technical knowledge to carry out a Smurf attack, due to the easily accessible tools available. It is, therefore, a particularly dangerous form of attack that can rapidly cause serious damage to a network.
  • Smurfing is a term used to describe the process of breaking down large amounts of money into smaller transactions, in order to evade detection by anti-money laundering regulations. Smurfing is typically done by multiple people working together, transferring the money through multiple layers of transactions and accounts, making it difficult to trace the original source of the funds. It is important to be aware of this process and monitor transactions to ensure they are legitimate.
  • Smurfing is an illegal activity that occurs when an individual or group of individuals break up large deposits or withdrawals into smaller amounts, to evade taxes and other strict regulations imposed on larger financial transactions. This activity is also known as "structuring." Structuring is the act of intentionally splitting up financial transactions in order to avoid having to report the transaction to the government. Structuring can be conducted by depositing or withdrawing cash in pre-arranged amounts just below the reportable requirements, or through electronic transfers of funds into offshore accounts or accounts with multiple signatories. To avoid detection, criminals may make use of multiple accounts, locations and people to conceal financial activities which violate anti-money laundering and other regulations. The goal of smurfing is to avoid detection by masking large transactions as many smaller transactions.
  • A sniffer, also known as a packet sniffer, is a type of software or hardware tool used by cybersecurity experts to monitor and analyze the content of network traffic. It captures data packets and decodes the data to reveal details of the communication such as IP addresses, domain names, and ports. Sniffers can be used to detect malicious or unauthorized network activity, detect network flaws or weaknesses, monitor network performance, and investigate network intrusions. Depending on the capabilities of the tool, it may also have the ability to capture credentials, passwords, and other sensitive data.
  • Sniffing is a type of cyber attack that collects data packets being sent or received over a network. Attackers use these data packets to gain access to sensitive data, such as passwords, by decoding, reading, or decoding the content of these packets. Sniffers are software applications which are used to detect and capture this data, which is then used for malicious purposes. It is a common attack that is used to gain access to networks without authorization, since it is not easily detectable. Sniffers can also be used to gain information from the user, such as their IP address, web browsing history, and more. As a result, it is important for businesses to have effective security measures in place in order to protect their networks from sniffers.
  • Social Engineering is the use of tactics and methods to manipulate people into divulging sensitive information or performing actions that can be used to pave the way for a security breach or malicious activity. It is essentially an exploit of human vulnerability by an adversary, and involves gaining access to secure information without using malicious software. It is usually achieved through various methods such as phishing emails, impersonation, malicious websites, telephone scams and other methods of deception, often in combination. Social engineering attacks are becoming increasingly common as the human element in cybersecurity is seen as a viable target for malicious actors.
  • Social Media Intelligence (SMI) is a process which involves collecting data from public sources on the internet, such as social media platforms, web forums, and other sites. This data includes online conversations, videos, images, and user generated content. Data collected is then analyzed to acquire useful information related to risks and threats, including fraud. It can help identify red flags and irregularities, as well as suspicious behaviours and activities. SMI can also provide valuable insights into cyber crime trends, such as malware and phishing attacks. By collecting, analyzing, and interpreting data collected from public sources, organizations can drive effective threat detection and response strategies while keeping their data and customers safe.
  • Social media security is the practice of protecting personal or sensitive data by preventing unauthorized access to or misuse of online information, including accounts, networks and systems. It involves the implementation of protective measures for online systems, applications, and networks to secure the data that is shared and stored on social media sites. These measures include authentication and authorization techniques, encryption, firewalls and other security protocols. Additionally, social media security focuses on the responsible and safe use of social media by creating policies and procedures to guide users in safeguarding their personal information and privacy.
  • Social media tracking refers to the practice of gathering and analyzing data from social media platforms in order to gain insights into people’s behaviors and preferences. This data can be used to anticipate and respond to customer needs, measure the effectiveness of different marketing campaigns, and detect fraudulent activities. Companies use various solutions to track an individual's activities, such as keywords, trends, topics, sentiment, and influencers. They often apply artificial intelligence and machine learning to analyze large quantities of data quickly. Social media tracking gives organizations powerful new insights into their users which can help inform decision-making, protect customers, and reduce risk.
  • Social Security fraud is a type of fraud which involves misuse or abuse of Social Security numbers and benefit payments. Common tactics include creating false identities or using someone else's identity to gain access to government benefits and services. Other forms of Social Security fraud include improperly earning or claiming benefits and receiving benefits from more than one source at the same time. Social Security fraud can also include theft of existing accounts, the creation of fake accounts, and the acquisition of unauthorized copies of Social Security cards. These activities can result in individuals receiving benefits even if they don’t legally qualify, as well as identity theft and personal financial losses.
  • A social security number (SSN) is an identification code issued by the United States Social Security Administration. It is a nine-digit code used by the Internal Revenue Service (IRS) for tax purposes and to track an individual’s earnings, benefits, and eligibility for certain government programs. The SSN is often used as a form of identification for transactions involving finances and as a means of verifying the identity of individuals for various reasons. The SSN is not intended for use in tracking individuals or for use as a credit card number or for any other purpose, and it is considered confidential information. In order to combat money laundering activities, the SSN must be validated before any transaction can be completed involving money or other assets.
  • Software-as-a-Service (SaaS) is a cloud computing model which enables users to access applications and data over the internet. It is a type of application delivery model which allows customers to pay for access to software applications hosted by a provider. In this model, the provider is solely responsible for the maintenance, storage, and operation of the software, which eliminates customer's need for any associated hardware or IT infrastructure. SaaS solutions are scalable and flexible enough to empower businesses of all sizes to save money, improve efficiency and comply with data security and privacy regulations. As a cybersecurity expert, it is important to ensure that SaaS applications are implemented and configured securely, and all customer data is protected.
  • Software-Defined Networking (SDN) is an advanced network architecture that uses software to control the flow of data in a network, as opposed to the use of dedicated hardware. It is used to increase flexibility and scalability, as well as improve resource utilization and reduce operational complexity. SDN works by utilizing a centralized controller, which configures and manages the entire network through an ‘open’ software application program interface (API). The controller works together with various software applications to define, manage, and control the network. This enables administrators to efficiently configure, manage, and monitor their networks in real-time by reacting to changes in user behavior and multi-tier traffic. As a result, SDN enables organizations to have better control over their networks and to build advanced services quickly.
  • Software-Defined Perimeter (SDP) is a form of cyber security architecture that uses network segmentation to create a secure and virtually impenetrable perimeter around corporate networks and applications. It allows organizations to limit access to their networks to only the users or computers that are explicitly authorized to access them. This permission is granted through a secure method of authentication, authorization, and encryption. SDP enables organizations to better protect their networks from malicious actors and has become an increasingly important part of a company’s overall information security posture. It enables organizations to keep unauthorized users out while allowing authorized users to securely access the resources they need. This helps to keep networks and data secure while reducing risk and ensuring compliance with industry standards.
  • Software Piracy is the illegal copying, distribution, or use of copyrighted computer software without the permission of the software's copyright owner. It refers to the unauthorized duplication and/or use of software such as operating systems, business applications, video games, and entertainment applications. It also includes sharing or installation of software on multiple devices without paying for multiple copies or using a serial or registration in violation of the original software's licensing agreement. Software Piracy has become a huge problem for companies who have invested significant time and money into developing their software and the illegal copying or distribution of their products creates a significant loss of revenue for those companies. In some cases, violations of software piracy can result in criminal and civil liability for offenders.
  • Software Security is the practice of protecting and preserving the availability, integrity, and confidentiality of computer programs and their associated data. This involves developing a set of security controls that mitigate vulnerabilities in the software, including secure coding and development practices, testing and validation of applications, and access control mechanisms. Software Security also includes measures to protect the hardware, network, and users, as well as other systems that may be vulnerable to attack. By implementing a comprehensive software security strategy, organizations and individuals can better protect their information and systems from malicious attackers.
  • Spam is an unsolicited and unwelcome message sent in bulk by an individual or automated process. Typically these messages are sent to large numbers of recipients who never asked for or consented to receive such communication. The most common example of spam is email, usually consisting of ads for products or services, but other forms of spam such as text messages, Social Media posts and blog comments are increasingly common. Spam is incredibly frustrating and potentially dangerous as it can contain malicious links or software designed to steal data. Some organizations have automated systems to detect and block incoming spam; however, it can still be very challenging to prevent as spammers are constantly finding new methods to get their messages seen.
  • A spanning port attack is a type of malicious attack that takes advantage of spanning port devices such as hubs and switches to gain access to a network. In this type of attack, an attacker sends out a broadcast message that is designed to be seen by every device on the network. This broadcast message allows the attacker to gain access to the devices and possibly the entire network. The attacker will then attempt to gain privileged access to the systems, applications, data, or even other networks. This type of attack can be especially dangerous as the attacker can remain undetected due to the lack of security logging that many spanning port devices have. As such, it is important for organizations to use proper security measures such as firewall and access control to protect the network against such attacks.
  • Spear phishing is a type of cyber attack that uses email or malicious websites to target specific individuals and gain access to sensitive information. It is usually carried out by attackers who seek to steal data, monetary funds, or intellectual property. They use the personal information of their targets to create messages and websites that look similar to legitimate ones to trick their victims into giving away their confidential data. A spear phishing attack can take the form of a fake email sent from a legitimate source, or a fake website that appears real by copying elements from a legitimate website. The attacker may use personalized information of the target to create a sense of trust and familiarity to make them think the message or website is from a trusted source, leading to the target performing the malicious action required by the attacker. Each attack is uniquely tailored to the victim, making it particularly difficult to protect against.
  • The Special Economic Measures Act (SEMA) is an important piece of Canadian legislation which allows the government to impose economic sanctions on foreign countries, organizations and individuals that pose a threat to Canada's foreign policy and international obligations. The Act allows the government to freeze the assets of those targeted, place restrictions on financial transactions and investments, and impose travel restrictions. The Act also gives the government broad authority to create and implement regulations necessary to give effect to the economic sanctions imposed. The Special Economic Measures Act is a key tool in the fight against money laundering and the financing of terrorism in Canada.
  • Special Interest Persons (SIPs) are individuals who are deemed to be of high risk for money laundering. These individuals may come from various backgrounds, including but not limited to politically exposed persons (PEPs), foreign officials, senior business persons, and their family members. These individuals are considered to be more likely to be involved with high-risk activities due to their position, wealth, or power. Anti-money laundering experts need to be aware of these individuals and their activities in order to identify any suspicious transactions or activities.
  • The Specially Designated Nationals and Blocked Persons List (SDN List) is a list of individuals, entities, and organizations maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). It identifies and blocks assets and prohibits transactions with persons who the U.S. government has determined are involved in terrorism, money laundering, organized crime, narcotics trafficking, proliferation of weapons of mass destruction, and other activities. The list includes individuals and entities from around the world and serves as a key tool for anti-money laundering experts in detecting and preventing financial crime.
  • Split key encryption is a methodology used to achieve encryption. It is a symmetric key encryption technique, where a single key is split into two components and a combination of both the parts is needed to gain access to the encrypted data. In this method, one part of the key is held by the sender (or the user on the sender’s behalf) and the second part is held by the receiver. These key parts can be exchanged electronically or the sender can transport the key securely to the receiver. For a successful encryption and decryption, both key parts are combined by a mathematical algorithm to form a key which can access the encrypted data. This method is extremely secure and reliable, as the whole key is never accessible and both users must possess each part in order to obtain the entire key.
  • Spoofing is a cyber attack technique where an attacker impersonates another user or computer system in a network or a communications system. In most cases, spoofing is used by attackers to gain unauthorized access to systems, networks, or facilities. Spoofing is commonly performed using techniques such as IP spoofing, MAC spoofing, false website authentication, and more. Attackers may also use spoofing to hide their true identity or to launch a denial-of-service attack. Spoofing can be used to disguise malicious activities, and thus make it more difficult to detect and mitigate them. As such, organizations must remain vigilant and employ security solutions that detect and prevent spoofing attempts.
  • Spoofing is a type of fraud or cyber attack that usually involves a false or fake identity. It involves impersonating or emulating another person or website in order to gain access to confidential information, or to obtain money or services by deceiving another person. Spoofs can be used to steal passwords or credit card numbers, intercept emails and other digital communication, or to create false identities in order to acquire goods and services. They can also be used to spread malicious software such as viruses, ransomware, and spyware. Spoofing attacks can be difficult to detect and limit, so it is important to internet and network security strategies to monitor and detect them in order to prevent them from becoming more severe.
  • Spyware is malicious software that is used to secretly collect a user's data without their knowledge or consent. It is often installed without a user's knowledge through software downloads or email attachment and can track a user's activity to gather information or take control of the user’s device. Spyware is difficult to detect as it often runs in the background of the device and can be used to steal passwords, infiltrate networks, and collect sensitive data. It can be used for unethical purposes such as crashing a computer, locking out a user, displaying unwelcome pop-ups, and redirecting web searches. Spyware can also be used to monitor emails and other electronic communications. Sites can be designed to install such malicious software and it is difficult to protect against it. Therefore, it is important to regularly update the anti-virus and firewall software on the computer and to be cautious about download files, even from seemingly reliable sources.
  • SQL Injection is a type of attack on a computer system in which malicious code is inserted into an SQL query through a user interface in order to gain unauthorized access to data held in the database. This attack is often used to steal, modify, or delete sensitive information. The attacker usually uses input fields on a web page or web application to inject code that can be sent to the database. The code is then executed to access the database and extract data from it. This can result in data theft, unauthorized changes, or even deletion of data. Prevention of SQL Injection attacks can be done by carefully sanitizing user inputs before sending them to the database and avoiding dynamic query creation.SQL Injection is one of the most commonly used attacks on web applications and databases, and it is important to understand and protect against this type of attack.
  • Secure Socket Layer/Transport Layer Security (SSL/TLS) is a protocol that provides privacy and data security over the internet. It is used to encrypt data sent over internet connections, and also provides authentication of the server, so that users can interact securely with a website. In order for an SSL/TLS connection to be established, a handshake between the client and the server must take place. During the handshake, the server presents its SSL/TLS certificate to the client, which is then verified by the client to ensure it is valid. Once the certificate is deemed valid, the encryption and authentication of data packets occurs and the secure connection is established. Using SSL/TLS provides a high degree of assurance in secure data transmission and should not be overlooked when considering cybersecurity practices.
  • Stack Mashing is an attack in which a malicious actor attempts to take advantage of the lack of security mechanisms in the memory stack of a computer system in order to execute arbitrary code. It usually involves a combination of exploiting buffer overflows and other memory corruption in order to gain control of the target machine. The attacker is able to inject malicious code into the memory stack, which is then executed by the target system without any security checks. This type of attack can be used to gain access to sensitive information or even gain control of the target machine. It is important that computer systems are regularly tested and patched in order to prevent successful stack mashing attacks.
  • A State Invested Enterprise (SIE) is an enterprise owned and operated by a governmental entity. It is typically formed to pursue a specific set of goals, such as commercial profit, regional development, or public service. SIEs are commonplace in countries with a strong presence of state-owned enterprises, such as China and India. As entities that can be directly influenced by the state, SIEs pose a unique risk for misuse and money laundering activity. Anti-money laundering experts must be aware of the potential risks posed by SIEs and take the necessary steps to identify, assess, and monitor these entities to prevent and detect money laundering activities.
  • State Owned Enterprise (SOE) is a business entity owned by a government. The government can be at the federal, state or local level. SOEs can be found in both the public and private sectors, and can either be commercial companies or non-profit organizations. An SOE is a powerful tool for governments to pursue strategic economic objectives. SOEs are typically used to achieve outcomes such as providing essential services, maintaining or creating jobs, or providing a better investment return than private sector competition. As an Anti-Money Laundering Expert, it is important to be aware of the potential abuse of SOEs by criminal organizations and other unethical actors to facilitate money laundering activities.
  • The Statute of Limitations is a rule of law that sets out a maximum time period within which legal proceedings must be initiated. This generally applies to civil cases, such as debt and contract disputes, rather than criminal cases. The time period is determined by state law, and typically ranges from one to six years, although some states provide even longer windows. This prevents disputes and grievances from occurring long after the facts of a dispute occurred, and passing beyond the point of which adequate, relevant evidence can be obtained. Therefore, very old matters can be dismissed if it falls outside the Statute of Limitations.
  • Stealing is the unauthorized taking of a thing of value without the owner's consent. It may involve deception or subtlety and can be done for a variety of reasons. Types of stealing include shoplifting, pickpocketing, identity theft, embezzlement, fraud, and cybercrime. The theft of physical goods and documents are relatively easy to detect, while cybercrimes may be harder to identify or prosecute as they may occur in different parts of the world or on the internet. Stealing can have serious consequences and should be taken seriously, as it can cost businesses, government organisations, and individuals considerable amounts of money and reputation.
  • Business secrets, such as a company's trade secrets, formulas, processes, designs or financial data, need to be protected from those who would attempt to gain advantages of the business in an unfair, deceptive or illegal way. Stealing business secrets involves using any means such as hacking, eavesdropping, bribery or infiltration to gain access to such information without the company's permission. This kind of theft often has dire consequences for a business as the perpetrators are often able to gain competitive advantages, as well as financial or marketing benefits. Business secrets are usually protected by law and those found guilty of stealing them can face civil and criminal charges. Companies should have robust measures in place to protect their business secrets.
  • Stealthing is a cyber-security attack technique used to hide malicious activities from security systems and monitoring solutions. This attack technique allows attackers to remain undetected by utilizing techniques such as disguise, encryption, and obfuscation. Stealthing involves the use of malicious code to hide a malicious activity from security systems and also evade detection from the user. Stealthing allows attackers to remain anonymous and remain undetected from malicious activities, including the exfiltration of confidential data, injection of malicious payloads, and other malicious activities. In summary, stealthing is a method used to hide malicious activities from security systems and users in order to remain undetected and remain anonymous.
  • A sting operation, also commonly known as an undercover operation, is a type of law enforcement tactic primarily used to catch criminals in the act of committing a crime. Generally, an undercover officer poses as a potential target and initiates contact with the suspect in order to gain information about a criminal activity or to invite the suspect to commit a criminal action. The officer then gathers evidence to prove the criminal’s guilt. The goal of a sting operation is to detect and deter criminal activity, such as money laundering, before any real damage can occur. The undercover officer works to prevent any potential financial losses from the criminal acts from occurring.
  • STR stands for Suspicious Transaction Report, which is a report given to law enforcement agencies and financial institutions by financial institutions. These reports are used to identify any potentially illegal or fraudulent activities. They can include activities such as money laundering, identity theft, financial frauds, phishing, online scams and terrorist financing. STRs provide detailed information regarding the customer and their transactions, accounts, statements and details of any evidence that is related to the suspected suspicious activity. STRs are used to help investigate and prevent fraud, money laundering, and other financial crimes. In order to better protect customers and businesses from these financial crimes, STRs are an integral part of the financial services industry.
  • A straw man is a form of money laundering in which a third party is used to transfer money from an individual or company to another individual or company. In this process, the third party is used to disguise the true source of the funds and make it more difficult for law enforcement to detect money laundering activities. The third party, also known as the straw man, does not directly benefit from the transaction but is instead used as a middleman to move money between the two parties. The use of a straw man is a popular tactic among criminals to evade the legal regulations and laws governing money laundering activities.
  • A Stream Cipher is a type of symmetric-key cryptography which encrypts data one bit at a time as it passes through an encryption algorithm. It takes a pre-shared key along with an algorithm and encrypts the data bit by bit as it is received. Stream Ciphers are typically faster than block ciphers because they require fewer rounds of encryption and process a single bit of data in each round. They are also more secure because their encryption is state-dependent and the transmitted data can only be decrypted if the key is known. Stream Ciphers are preferred over Block Ciphers in applications where the data must be encrypted in real-time or in situations where the data is transmitted over an insecure network.
  • Strict liability is a legal concept whereby a person or company is held liable for damages or injury regardless of their degree of fault or negligence. It is often used in cases involving environmental pollution, product liability and financial crimes such as money laundering. In money laundering, strict liability applies to certain individuals and institutions, such as banks and other financial institutions, who are responsible for the prevention and detection of money laundering activities. These entities are held liable even if they have not been negligent or knowingly involved in money laundering activities. Strict liability is intended to deter and punish those who are involved in money laundering activities.
  • String Matching is a technique used to identify and detect suspicious transactions related to money laundering, terrorist financing, and other financial crimes. This practice involves comparing a sample of known data to a large dataset of searchable records, such as those found in a database or financial ledger. A match occurs when the matching data displays a specific pattern or contains a particular sequence of characters. The goal of string matching is to uncover hidden or unknown relationships and possible financial activity between two entities. When used properly, this technique can be a powerful tool to assist financial institutions in their efforts to detect and prevent money laundering and other financial crimes.
  • Stripping of Banknotes refers to the practice of removing banknotes from their original packaging for the purpose of disguising their source, concealing illegal activities and avoiding legal requirements such as taxation and reporting. Banknotes can be stripped from their original packaging either manually or through the use of special machinery. In either case, the process of stripping banknotes involves taking the notes from their protective plastic or paper packaging and reorganizing them in a way that obscures their origin and masks any evidence of criminal activity. The process of stripping banknotes is one of the most commonly used techniques for money laundering and other illicit financial activities.
  • A strong password is a string of characters used to authenticate and protect access to a system or service. It typically consists of a mix of uppercase and lowercase letters, symbols, and numbers, and is at least 8-10 characters in length. A strong password will not contain personally identifiable information (PII) such as birthdates, names, addresses, or phone numbers. Additionally, the same password should not be used across multiple systems or websites. It is important to use a new, strong password for each system or site as a way of securing access and helping to prevent hacking and other forms of cybercrime.
  • Structuring is an illegal activity used to avoid bank reporting requirements. It involves breaking up transactions into smaller amounts under $10,000 with the intention of disguising the origin, source, or destination of funds. Structuring is a tool used by criminals to launder money and evade taxes. It involves making multiple deposits or withdrawals of small amounts into or from financial institutions. Structuring can also be called smurfing, layering, or fractionalizing. Structuring is a crime and carries heavy penalties, including fines and imprisonment. Anti-money laundering experts work to identify, investigate and report cases of structuring.
  • A Subpoena is a legal document issued by a court or governmental entity requiring the recipient to appear in court to provide testimony or produce documents related to a particular case. It is commonly used in Anti-Money Laundering investigations when evidence needs to be gathered from a third-party, such as a bank or a government agency. A Subpoena typically requires the recipient to appear in court on a specified date and provide testimony or documents pertinent to the case. It may also include a demand for the production of financial records or other information relevant to the investigation. Failure to comply with a Subpoena can result in serious legal action, including fines or imprisonment.
  • Supervised machine learning is a type of artificial intelligence (AI) that involves the use of algorithms and data to create models that are then used to identify patterns and make predictions. The models are created by analyzing labeled data, where the labels correspond to certain classes or outputs. The model is then trained to recognize input data and generate the correct output. Supervised machine learning is used in many real-world applications such as fraud prevention, risk assessment, cybersecurity, and more. In many cases, the data used as input is highly complex and must be processed in order for the model to accurately infer patterns and generate outputs. This type of AI technology helps automate complex and tedious manual tasks, such as fraud analysis, which allows for a more efficient and accurate way of solving problems.
  • A Suspicious Activity Report (SAR) is an official document used by financial institutions and other regulated entities to disclose any suspicious transactions that may be related to money laundering, terrorist financing, fraud, or other financial crimes. It is a critical component of any Anti-Money Laundering (AML) program as it provides a mechanism for regulated entities to report suspicious activity to the appropriate law enforcement and regulatory authorities. The SAR is a confidential document and may only be shared with relevant authorities or upon obtaining a court order. Failure to file a SAR when warranted may result in severe penalties, including fines and possible criminal charges.
  • Suspicious Activity Monitoring is a process used by Anti-Money Laundering experts to identify and monitor unusual and suspicious financial transactions. This process involves assessing customer profiles and analysing customer transactions to identify any unusual activity, identifying any red flags and making sure the customer’s identity is verified. Suspicious activity can include large cash transactions, multiple international transfers, or large transfers to or from high-risk countries. Suspicious activity monitoring is used to help identify and prevent any potential money laundering activities, and ensure that financial transactions are compliant with anti-money laundering regulations.
  • A Suspicious Activity Report (SAR) is a document that must be filed with financial intelligence unit (FIU) to report suspicious transactions that may constitute money-laundering or other financial crime. The SAR must provide sufficient information to identify and explain the suspicious activity and must include the name of the suspect and details of the transaction(s) in question. The filing of a SAR is a legal requirement for financial institutions and other businesses regulated by anti-money laundering legislation. It is a key tool to help combat money laundering and is a critical component of an effective anti-money laundering program.
  • A Suspicious Matters Report (SMR) is a report that must be filed with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) when a customer, or a customer’s transaction, raises the suspicion of money laundering or terrorist financing. The report is intended to provide information to FINTRAC to assist in its analysis of money laundering and terrorist financing activities, and to identify suspects and associates. An SMR must include detailed information about the customer and their transactions, and must also outline the basis for the suspicion. The reports must be filed promptly following the detection of a suspicious transaction, and must include all important details as required by FINTRAC regulations.
  • A Suspicious Transaction Report (STR) is a document that is filed with the Financial Intelligence Unit (FIU) by a financial institution to report any suspicious activities related to money laundering or terrorist financing. An STR provides information about a suspicious transaction that may constitute a possible violation of an anti-money laundering law or regulation. The STR should report the details of the suspected activity, including the identity of the customer, the type of transaction, the value of the transaction and the dates the activity occurred. It is the responsibility of the FIU to review and analyze the STR to determine the need for further investigation.
  • A Sweepstakes Scam is when a scammer pretends to be offering a chance to win a prize, like money or goods, which is rarely offered. They often require the victim to transfer money or personal information in order to participate in the sweepstakes. These scams are typically distributed via email, telephone, SMS, or social media. Victims are often contacted directly, asking them to “claim their winnings” in some way. The perpetrator will frequently ask for personal information and payment to receive the prize, though the prize is never received. Often times the communication will be threatening or intimidating, making victims feel obligated to follow the instructions. Victims of a sweepstakes scam can be left with empty pockets, compromised identities, and depleted bank accounts. It is important to note that legitimate sweepstakes will never ask for payment or private information.
  • A Sweetheart scam is a type of fraud in which the perpetrator establishes a seemingly genuine romantic relationship with the victim in order to gain their trust, then uses that relationship to take financial advantage of the victim. Generally, the scammer will begin by creating a false sense of intimacy then build it up with declarations of love, stories of family tragedies, and requests for help with money. The victim may be asked for money for the scammer's personal use or to help the scammer get out of a perceived financial difficulty. The scammer may even ask the victim to open a bank account for them or to wire money. In the end, the victim is left without love or money and the scammer frequently disappears without a trace.
  • A SWIFT Message is an electronic form of communication used in the banking industry to securely transmit financial transaction messages between financial institutions. A SWIFT Message contains all the necessary information needed to send and receive payments, such as an institution's unique SWIFT ID, the sender and receiver's account numbers, and the amount being transferred. SWIFT Messages are encrypted and include a unique authentication code in order to protect against fraud and ensure the transaction is secure. As an Anti-Money Laundering Expert, it is important to understand the processes behind financial transactions, including how a SWIFT Message works and how it can be used for illicit activities such as money laundering and terrorist financing.
  • Swindling is a form of fraud that involves deceiving someone through dishonesty. It usually involves a situation where a person is misled into giving away money, property or services by being promised something they are not able to get in return. Common swindling techniques include taking advantage of the victim's ignorance or trust, making false statements, withholding vital information, charging exorbitant prices, promising something and then not delivering, or impersonating a person in authority. Usually, there are no physical signs of swindling, but the effects on the victim can be long-lasting, resulting in serious financial or emotional stress.
  • Symmetric Key Encryption is a type of cryptographic algorithm that uses the same cryptographic keys to perform both encryption and decryption. It uses a shared secret key to encrypt and decrypt data. The key is generated from a cryptographically secure pseudo random number generator, which is known as the symmetric key. This key must be kept secret for the transmission of data to remain secure. The keys can be 128, 192, or 256 bits long and are used to encrypt and decrypt data within a given session. Symmetric key encryption is faster and more efficient than asymmetric key encryption as only one key is used for encryption and decryption. It is commonly used for encrypting data at rest and for encrypting data in transit.
  • A SYN flood is a type of cyber attack which exhausts a computer's resources by sending a flurry of SYN packets to the target system. SYN packets are the initial packets of the three-way handshake in the TCP/IP protocol. This type of attack works by exploiting the finite resources of the target computer or server. The attack deliberately sends a massive number of SYN packets to the target, which then must respond to each one. The target system becomes overwhelmed with server resources and cannot respond to legitimate requests, resulting in a Denial of Service (DoS) attack. The SYN floods can either originate from a single source or come from multiple distributed sources. These floods can range from small attacks which only last for seconds or minutes to larger, sustained attacks which can last for several hours.
  • A synthetic identity is a type of fraud involving the creation of a false identity using real and/or fictitious information. A fraudster will combine real information (like a Social Security number and name) with bogus information (like a made up address and other facts) in order to create new fake identities. These identities are then used to open bank accounts, apply for credit cards and obtain various kinds of services. Synthetic identities are harder to detect than other types of fraud because they may not appear suspicious on the surface. In fact, synthetic identities may be used to demonstrate creditworthiness, making them even more difficult to detect. Criminals may use stolen identities or even create their own to exploit financial systems.
  • Synthetic identity creation is a form of identity theft perpetrated by a fraudster creating a false profile or persona from existing information from multiple people or entities. Generally, the fraudsters use a combination of real and synthetic data, such as a name, Social Security number and address, to generate the false identity. They then set up false accounts, credit cards, loans and other services in order to commit financial fraud, such as money laundering, tax evasion and identity theft. Synthetic identities can also be used to bypass security measures or disguise certain activities. In addition to financial losses, synthetic identity creation can also damage your reputation and credit score.
  • Target matching is a method used by anti-money laundering experts to identify and detect suspicious financial activity. It involves the analysis of customer data against established AML risk profiles and parameters. By matching specific customer data to the risk profiles and parameters, the anti-money laundering expert can identify any potential patterns of suspicious activity that could be indicative of money laundering. This method is used to help financial institutions comply with Know Your Customer (KYC) and AML regulations, and to detect and prevent money laundering. It is an essential tool for anti-money laundering experts to help protect businesses and the public from the threat of financial crime.
  • Targeted sanctions are a set of financial restrictions that are designed to limit the activities of specified individuals, entities, or organizations. These sanctions are aimed at individuals, groups, or states that are deemed to be a threat to international peace and security. They can involve asset freezes, travel bans, and arms embargoes. Targeted sanctions are intended to prevent money laundering, the financing of terrorism and other activities that may threaten the safety and security of a country. In addition, they are used to encourage governments to adhere to international standards and human rights as well as to promote economic and political reform.
  • Tax evasion is the illegal practice of avoiding the payment of taxes by concealing or misrepresenting income or capital gains, or taking improper deductions or exemptions. It is a form of fraud and involves the intentional non-payment of taxes by individuals, businesses, or organizations, as well as a false declaration of tax liabilities. Tax evasion can be committed in various ways, including hiding income from the government, changing the tax code to benefit oneself, or illegally transferring money internationally. By hiding or not declaring income, the taxpayer is able to reduce or eliminate the amount of taxes owed to the government. It is a criminal offense and is punishable by fines, jail time, or both.
  • A Tax Haven is a jurisdiction or country that has low or no taxes with the intention of attracting foreign companies and individuals to store their money and assets. Tax Havens are attractive to those seeking to reduce their overall tax burden, as their low or no taxation structure provides many opportunities for reducing tax liability. Tax Havens often provide secrecy and confidentiality for those seeking to avoid taxation and other legal issues. Tax Havens often have highly beneficial tax laws for foreign investors, allowing them to retain more of their income and assets than in other countries.
  • A Tax Identification Number (TIN) is a nine-digit number issued by the Internal Revenue Service (IRS) to individuals and businesses for tax filing and reporting purposes. A TIN is used to accurately identify individuals and businesses to the IRS and help the IRS track taxpayers who are required to pay taxes. Individuals are issued either a Social Security Number (SSN) or an Employer Identification Number (EIN). Businesses are issued an EIN. Without a TIN, the IRS cannot properly identify a taxpayer or process the taxpayer’s income tax return correctly. A TIN is required for many financial transactions and must be used when filing tax returns, applying for bank accounts, obtaining a loan, and other related activities.
  • Tax Identity Theft occurs when someone illegally uses another person's Social Security number or other identifying information to commit fraud or other crimes. It is a crime where someone is trying to gain access to your personal and financial information, your tax refund, or other benefits that you may be entitled to. This type of thief will typically attempt to file a fraudulent tax return with your information, claim a refund, and direct the refund to their own bank account. Your tax records, credit history and even your job may be affected if you become a victim of Tax Identify Theft.
  • TCP Fingerprinting is a method of remotely gathering information about a target computer’s operating system, service, and version by inspecting the packet responses from that system. By comparing the pack responses, also known as a “fingerprint”, to a database of known fingerprints, the operating system, service, and version can be identified. This information can then be used to locate a target computer on a network and determine any potential vulnerabilities that the computer may have. Additionally, fingerprinting can provide evidence of a successful attack vector or a potential new vulnerability. By understanding the system and its associated vulnerabilities, it is possible for network administrators to more quickly and easily mitigate a potential security breach.
  • TCP Full Open Scan is a scanning technique that helps identify active hosts on a network while avoiding detection by security features or filters. It works by sending a connection request to each port on the target. The scan progresses from a closed port to an open port according to the Transmission Control Protocol (TCP). This type of scan is used to detect weakly configured services, backdoors, vulnerabilities, and more. The advantage of this scanning technique is that it can be performed quickly and thoroughly. The disadvantage is that it can be detected by security solutions and will cause unnecessary traffic on the network. For this reason, it is important to ensure that the scan is properly configured to ensure minimal disruption.
  • The TCP Half Open Scan is a type of network scanning technique used to identify open ports and services running on a machine. In this scan, the attacker sends a SYN packet to the target machine and waits for the response. If the target machine responds with a SYN-ACK packet, it means that the port is open. If the target machine responds with a RST packet, it means that the port is closed. This type of scan is more subtle than a full open port scan, as it does not require the attacker to send a FIN packet to the target. This makes it more difficult for the target machine to detect the scan, as the target machine does not receive a FIN packet.
  • TCP/IP stands for Transmission Control Protocol/Internet Protocol and is the suite of communication protocols used to connect hosts on the internet. It is an industry-standard model used to facilitate communication between two or more computers. It provides end-to-end communication by breaking the data into smaller chunks called packets and then reassembling them at their destination. The packets are then sent through IP, which provides the address of the destination computer. TCP then breaks down the data into more manageable chunks, and then rearranges them into the correct order. This level of communication is essential for secure data transmission, as TCP/IP ensures that data is not corrupted or mishandled throughout the transmission process.
  • TCP Wrapper is a tool used to provide access control to network services. It can be used to limit connections from or to certain IP addresses or networks and to apply access control policies to protect services from malicious activity. The software works by wrapping the TCP port of a service with a modified version of the TCP/IP stack. This modified version acts as a filter that only allows certain packets to pass through and blocks all other packets. The TCP Wrapper can also be used to better monitor the activity of a certain service, such as logging login attempts, failed access attempts and other important information.
  • TCPDump is a powerful command-line packet analyzer tool. It can capture and analyze network data in real time, and can be used for troubleshooting, security analysis, and penetration testing. It supports filtering IP traffic to capture specific frames, can display a variety of network information such as IP addresses, ports, protocol types, and more. By using TCPDump, network administrators can quickly detect and investigate malicious activity on their networks. TCPDump can also be used to monitor the performance of network services, analyze network traffic trends, and troubleshoot network issues.
  • Tech Support Scams are an increasingly prevalent form of computer fraud. They involve fake tech support agents impersonating real personnel from reputable organisations in order to deceive people into handing over access to their computers or payment for unnecessary or faulty services. Typically, these scammers will try to acquire access to a vulnerable system by pretending to be from a legitimate tech support organisation, and then use personal information to extract funds from the victim or infect their system with malicious software. The best way to protect yourself from Tech Support Scams is to never give out personal information such as passwords, credit card details or banking information to suspicious callers, and never let anyone access your computer without prior verification.
  • Technology theft is the unauthorized use of technology or technology-related data; often done to gain an economic or competitive advantage. It can vary from taking confidential customer data to stealing intellectual property or company secrets. It can take place online via hacking, online phishing, or other cyber security breaches, as well as offline via physical theft of components or equipment. Technology theft often requires advanced skills and is a complex crime, as criminals purposefully attempt to hide their identity and remain untraceable after committing the theft. Technology theft can also result in serious financial losses and violation of privacy, as well as reputational damage to the victim.
  • Telecommunication fraud is the use of a telephone to commit fraud or theft. This type of fraud can include, but is not limited to, making long-distance calls to phone numbers in foreign countries, using calling cards and phones to receive money in return for goods or services that are never received, or using phone lines or computers to access another person’s account information without their permission. In many cases, the fraud involves taking advantage of unsuspecting or unaware customers, who do not recognize the phone number being dialed or the individual soliciting their credit card information. Other types of telecommunication fraud involve taking advantage of automated systems that record individuals’ personal information for the purpose of committing a crime. Telecommunication fraud is a major issue in today’s digital world, and organizations must implement numerous fraud prevention measures to prevent fraudulent activity from occurring. These measures include encryption(...)
  • TELNET is a network protocol used for remote logins between devices over a Transmission Control Protocol/Internet Protocol (TCP/IP) network. It allows a user to connect to a network, send data back and forth, and host a variety of services such as file transfers, media streaming, and virtual private networks (VPNs). TELNET is used for telnet logins, which allow a user to access a remote system and run commands. TELNET runs on port 23 and provides an unencrypted, text-based connection to the remote host. It is important to note that TELNET does not encrypt data, making it vulnerable to man-in-the-middle and eavesdropping attacks. Therefore, it is important to take steps to protect against these types of attacks.
  • Terrorist Financing (TF) is the act of providing financial support to individuals or groups involved in terrorism activities. It can take the form of donations, money transfers, and the provision of goods or services. TF can be carried out through legitimate, informal or underground channels. It is often disguised as charitable contributions, and involves the use of front companies and intermediaries who mask the origin of the funds. Terrorist financing is a serious crime and it can threaten the safety, security and stability of many countries. It is vital that Anti-Money Laundering experts remain vigilant and take all necessary measures to detect and prevent TF.
  • Testimony is a statement given by an individual, which is typically made under oath, in a formal proceeding such as a court trial or legislative hearing. The statement is designed to confirm the truth or accuracy of a fact or situation. Testimony is legally binding and may include both factual evidence and personal opinion. It is important for the witness to be able to clearly articulate what is being stated and provide sufficient supporting information for the court or agency to decide on the accuracy of the testimony.
  • The Third Line of Defense is a critical component of an effective Anti-Money Laundering (AML) framework. It refers to the independent oversight of an organization’s AML program, and it is often referred to as the “first line of defense”. The Third Line of Defense is responsible for such tasks as providing independent oversight, testing and assessing the effectiveness of AML processes, policies, and procedures, and ensuring that adequate controls are in place to detect, prevent and report suspicious activity. The Third Line of Defense also investigates any suspected money laundering activity and evaluates the effectiveness of AML related risk management systems. This form of independent oversight helps to ensure that an organizations AML policies remain effective, keeping financial institutions and customers safe from money laundering.
  • Third-Party Risk Management is a process of assessing, monitoring, and managing the risks associated with third-party relationships. This includes assessing the risk posed by the third-party service provider, such as a law firm, an accounting firm, or any business partner. The process also includes identifying, evaluating and managing the risks associated with the services that the third-party provides. This includes understanding how the services provided by the third-party could be used to facilitate financial crime or money laundering activities, as well as performing due diligence to ensure that the third-party in question is compliant with applicable laws and regulations. Third-Party Risk Management is an essential element of an Anti-Money Laundering Program and is necessary to ensure that the company's reputation and financial security are not compromised.
  • Threat modeling is a methodology used to identify and assess potential security threats faced by an organization, facilitating the establishment of countermeasures to minimize those risks. It is a process of analyzing the security of a system to identify threats and vulnerabilities. This assessment involves analyzing assets, attack surfaces and threats posed to assets, and assigning risk levels. Threat modeling is an iterative process, with risk levels monitored and adjusted as needed over time as the organization’s risk profile changes. The goal of threat modeling is to measure and understand the risk of potential threats so that appropriate security controls can be implemented to lessen or eliminate the risk.
  • A threat assessment is a comprehensive process used to identify and address potential threats to an organization, system, or individual. It involves the collection and analysis of data from both internal and external sources to identify vulnerabilities and threats from both physical and cyber sources. The goal of a threat assessment is to provide a comprehensive understanding of the existing threats, their associated risk levels, and the likelihood of those threats being exploited. Through the threat assessment process, organizations can develop a more effective security strategy and appropriate preventive, detective, and corrective measures to mitigate risk.
  • Threat Hunting is a proactive method of seeking out potential malicious activity and intrusion attempts in an organization's network environment. It entails the use of advanced analytic techniques and tools to search for evidence of malicious activity that may not be visible through conventional security solutions such as firewalls and antivirus software. The goal of threat hunting is to detect, investigate, and respond to malicious activity before any further damage can be done. This is done by leveraging data to uncover emerging threats or malicious activities that have already infiltrated an environment. Threat hunting requires a focused approach, both in the types of threats being sought after and the methods used to do so. By being proactive in the hunt for malicious activity, organizations can more effectively prevent attacks and minimize their damage when attacks do occur.
  • Threat intelligence is the practice of collecting and analyzing information about security-related threats to an organization’s assets. This intelligence can come from several sources including open-source intelligence (OSINT), industry reports, security vendors, and internal analysis of logs. Threat intelligence often involves looking for patterns or indicators of compromise (IoC) that could be used to detect malicious activities and malicious actors. It is also used to create preventative measures, such as firewall rules and antivirus signatures, to reduce the risk of similar attacks in the future. By understanding the threats and indicators associated with them, an organization can more effectively close security gaps and reduce its exposure to risk.
  • Threat modeling is an active part of security risk management that helps identify, quantify, and prioritize potential threats to an asset, system, or design. It involves analyzing risks, understanding their potential consequences, determining the likelihood of occurrence, and estimating their possible impact. This process involves utilizing specialized tools and techniques to provide a detailed view of the risks and threats to an organization’s assets. It includes identifying malicious actors, researching their methods and motivations, understanding their weapons and objectives, and then providing a framework for mitigating them. Through this process, threat modeling helps organizations ensure the security of their data and systems from both external and internal threats.
  • Threat Vector is a term used in the field of cybersecurity to describe the methods and pathways in which a malicious actor could gain unauthorized access to a system or network. This includes methods of exploiting software vulnerabilities, social engineering, file exploitation, and other malicious tools. These vectors often involve a combination of technical and non-technical attack paths and are used by adversaries to gain access to sensitive data and resources. Potential threats include malware, ransomware, and other malicious activities. Companies and individuals must always be mindful of the risk posed by threat vectors and take steps to mitigate these potential threats.
  • Threshold Calibration is a process used by anti-money laundering experts to determine when a transaction is suspicious and requires further investigation. It involves setting a predetermined threshold of activity or patterns of activity that, if met or exceeded, would trigger an alert to be generated, giving the anti-money laundering expert the ability to take further steps to prevent the illicit activity. By using a threshold calibration process, anti-money laundering experts can monitor transactions more effectively, reduce false positives and increase the accuracy of their investigation.
  • Time To Live (TTL) is an Internet Protocol (IP) network setting used to prevent data packets from propagating indefinitely. It is used in two ways: to limit the lifespan of data packets and to control the number of hops a packet can travel in order to reach its destination. When a packet is sent, the TTL is set to a certain value by the sender, which is decremented by each router along the way. If the TTL reaches 0, then the packet is discarded and an error message is sent back to the sender. This helps to ensure that no packets are stuck in a routing loop, minimize unnecessary traffic, and avoid congesting the network. TTL is an important security measure as it can help guard against DDoS attacks, malicious sniffing, and other network security vulnerabilities.
  • Timecard tampering is a type of payroll fraud that occurs when an employee alters the recorded attendance and hours worked on their electronic timecard or paper timesheet. This type of fraud enables employees to increase the hours they are paid for by submitting more hours worked than they actually completed. Timecard tampering usually consists of a variety of tactics such as changing the start or end time of a shift, submitting multiple time cards for the same hours or entering extra hours for someone else. Other tactics include deleting days or hours worked or even completely creating false entries. This type of fraud can be extremely costly and time consuming to investigate. Employers need to have effective processes and procedures to detect and deter timecard tampering.
  • A tiny fragment attack is a type of cyber attack which exploits a vulnerability in the TCP/IP protocol stack, specifically the handling of internet protocol (IP) fragmentation. This type of attack takes advantage of the fact that most systems do not properly validate reassembled IP fragments. Attackers construct malicious IP packets that are split into small fragments which can bypass basic network security measures and exploit security holes on the target system. When these fragmented pieces of data are reassembled on the target computer, they can be used to cause a denial of service attack, data manipulation, or other malicious activities. It is important to ensure that any system’s security measures can properly identify and handle fragments to protect against potential tiny fragment attacks.
  • Tipping off is a term used to describe the act of disclosing to a third party information about a potential or actual Money Laundering situation. It is a criminal offence under many Anti-Money Laundering laws, since it gives criminals the opportunity to hide or transfer their money before the suspicious activity has been reported to the proper authorities. Tipping off is usually done by an insider with access to sensitive information about a customer or transaction. It can be done knowingly, or unknowingly, with the intention of aiding the money launderer. It is important to note that even if the person is unaware of the illegal activity, they could still be accused of tipping off and face criminal charges.
  • Token-based access control is a type of computer security technique used to authenticate user authorisation. It uses token-based authentication systems that provide access to resources after the user has logged into a system. The token is typically a small hardware device or software, which is used to identify the user. The token contains information, such as a user's identity, which is verifiable and can be used to identify the user. Token-based access control typically works by granting users the access to the resources based on their token information, which can be used to authenticate the user. The authentication process requires the user to enter the token information in order to gain access to the resources. Token-based access control is an important security measure for organisations, as it allows for secure and controlled access to resources.
  • Token-Based devices are a type of hardware authentication used to securely access networks and resources. This might include two-factor authentication (2FA). These devices are separate physical objects, such as a USB drive or dongle, that are used to authenticate and validate user access. They generate a unique token each time they are used, which is then passed onto the authentication server or resource to grant or deny access. This ensures that the user is authorized and that their identity is verified. Token-based authentication is widely used in many industries, such as government, healthcare, and finance, to protect confidential data and resources.
  • Tokenization is a security process in which sensitive data, such as payment card numbers, is replaced with a series of random numbers and letters (called a token) for storage and transmission. Tokenization adds an additional layer of security to the process, as the token cannot be used as a form of payment, unlike a payment card number. Tokenization is used to protect confidential and sensitive information, preventing unauthorized users from accessing the original data. Tokenization is used in a variety of different fields, such as healthcare, retail, and banking. In the financial industry, tokenization is used to protect payment card numbers, protecting against fraud and preventing the data from being stolen. Tokenization is an essential security measure and helps to ensure the safety and security of sensitive information.
  • Toll gates are measures that can be used by Anti-Money LaunderingExperts to identify and prevent money laundering by monitoring and analyzing the movements of funds from one point to another. Toll gates are typically placed at various points within a financial system, such as on a bank’s internal communication networks and external connections. Once funds pass through a toll gate, they will be subject to automated filters, checks, and other monitoring processes in order to detect any suspicious activity. By identifying and halting suspicious transfers, the toll gate system can help to prevent criminals from successfully laundering money.
  • Topology is the layout of the network and the route paths between any two interconnecting devices within a network. It can be used to describe how the devices within a network are arranged and how they communicate with one another. Topology is a critical factor in the operation of a secure network as it helps to establish rules for communication paths and device placement. Topology can be of various types such as Bus, Ring, Star, Mesh and Hybrid Topologies. Each topology has its own advantages and disadvantages and thus selecting the right type of topology is important to ensure the efficient, secure and reliable operation of the network. Additionally, the topology should be monitored and updated as per the changes in the organization's environment to ensure that the network remains secure from malicious threats.
  • TOR (The Onion Router) is an open source software project created to increase online privacy by enabling internet users to remain anonymous. It routes internet traffic through a network of servers in different countries, making it difficult for anyone to trace or monitor online activities. TOR works by encrypting data and sending it through several layers of security-enhanced proxy servers. This divides the communication into multiple parts, known as “onions”, and passes the data through this network of servers, making it harder for any attackers or surveillance agencies to spy on users activities online. Generally, it is preferred over other virtual private networks (VPNs) as it provide much better privacy and also shows better anonymity since it prevents any third-party from accessing or keeping IP logs of its users.
  • Trade-Based Money Laundering (TBML) is a method of laundering criminal proceeds by disguising the illegal source through the use of trade transactions. It typically involves the use of false invoicing, under or over-invoicing of goods or services, mislabeling of goods or services, and/or the use of multiple shell companies. TBML can also involve the use of fraudulent documents, such as commercial invoices, customs declarations, bills of lading and letters of credit. This type of money laundering can occur in any sector that involves international trade, including goods, services, commodities, and virtual currencies. As an Anti-Money Laundering Expert, it is important to be aware of TBML as it is a major source of money laundering and terrorist financing.
  • Trade Based Money Laundering (TBML) is a complex system of financial transactions used to hide the true origin and ownership of criminal proceeds. This often involves disguising the illegal funds as legitimate transactions in the international trade system. Criminals abuse international trade networks, mispricing invoices, under-invoicing, over-invoicing, or using trade based services such as shell companies, trusts, or holding companies to hide the true source of the funds. TBML can be used to launder the proceeds of a wide range of criminal activities including drug trafficking, terrorism, arms dealing, and bribery. As an Anti-Money Laundering Expert, it is your job to help governments, financial institutions, and law enforcement identify and combat TBML.
  • A Transaction Authentication Number (TAN) is a one-time code which is used in online banking and other financial transactions to verify the authenticity of the transaction. It is generated randomly and usually sent to the user via email, text message, or physical documents such as paper letters. The TAN provides an additional layer of security to protect the account from unauthorised access and fraudulent activity. The TAN is typically short-lived and must be used for a single transaction to validate the authenticity of the transaction request. It is also important to remember that a TAN should never be shared or stored electronically, as failure to adhere to these security measures can result in a breach. Through the use of TANs, financial organizations can significantly reduce their risk of becoming victims of fraud and cyber threats.
  • Transaction Monitoring is an anti-money laundering (AML) technique used to detect, investigate, and report suspicious financial transactions. It involves systematically monitoring transactions for irregularities that may indicate money laundering or other financial crimes. Transaction Monitoring includes identifying suspicious transactions, analyzing them for indications of money laundering, and reporting suspicious activities to the relevant authorities. It is an essential component of an effective AML program as it helps to identify suspicious activities before they can be used to commit financial crimes.
  • Transaction Monitoring and Filtering Programs (TMPs) are computer software programs designed to detect, monitor and report suspicious financial activity. TMPs utilize sophisticated algorithms and data gathering techniques to detect anomalies and provide alerts to potential money laundering or other fraudulent activity. TMPs are used to analyze and report activities such as large dollar transactions, multiple transactions with the same customer, or transactions to/from high-risk countries. TMPs can also provide additional data for analysis such as customer demographics, transaction patterns and trends. The purpose of TMPs is to reduce the risk of money laundering by providing more real-time data and insights into customer behavior.
  • Transaction Screening (TS) is the process of utilizing automated systems and/or manual reviews to identify potentially suspicious financial transactions. TS looks at a variety of factors such as the source of funds, the purpose of the transaction, and the parties involved in order to determine the risk of money laundering. TS can also include checks on customer information, such as whether a customer is on a watch list, or has been flagged for terrorism financing. By evaluating these factors, TS helps to identify suspicious activities and protect financial institutions from criminal activity and reputational damage.
  • Transliteration is a process of changing the written form of a language from one alphabet to another. It is an important tool for Anti-Money Laundering Experts as it allows them to detect and identify potential money laundering activities by comparing the same name in different languages or written forms. Transliteration also allows for comparison across databases, as names may appear differently across different records, yet still refer to the same person. This can help to uncover potential money laundering and other suspicious activities, while also making it easier to identify the parties associated with these activities.
  • Transmission Control Protocol (TCP) is a communication protocol which operates at the transport layer of the TCP/IP protocol suite. It is a connection-oriented protocol which provides reliable transmission of data from one node to another. It uses 3-way handshaking to establish and terminate the connection between two nodes. It does this by using cumulative acknowledgments and flow control using sliding window protocol. It also provides error checking and recovery for the data being transmitted by resending the data if required. It ensures that the data is transmitted in the same order as it was sent and also checks for duplicate data being sent over the network. In summary, TCP provides secure, reliable and error-free transmission of data over the internet.
  • Transparency International (TI) is an international organization that works to combat corruption and promote transparency, accountability, and integrity in government and business worldwide. TI is a global network of civil society organizations that are committed to fighting corruption at all levels and advocating for laws, policies, and practices that make governments and businesses accountable to their citizens and customers. TI works to ensure that public resources are used efficiently and wisely and that private resources are not misused or diverted to illicit activities. TI assesses countries’ progress and identifies areas for improvement in order to strengthen their anti-corruption efforts. Additionally, TI provides technical assistance, capacity building, and research services to governments, businesses, and civil society organizations to support them in their anti-corruption and anti-money laundering efforts.
  • Transport Layer Security (TLS) is an industry-standard protocol for securing online communication and transactions. TLS helps create a secure environment between two or more applications, devices, or networks by establishing a secure “tunnel” that ensures data integrity, confidentiality, and authenticity. TLS is based on the concept of public key cryptography - whereby each end of the secure channel holds a cryptographic key to authenticate their identity and encrypt/decrypt the data they communicate. Additionally, TLS supports additional features such as forward secrecy, which generates a new key for each session, and perfect forward secrecy, which prevents the eavesdropper from decrypting any communication even if they manage to capture data from a previous session.
  • Transshipment risk is a type of money laundering risk that arises when money is being moved from one jurisdiction to another. It is a risk in which money is moved from one country to another, often without the knowledge of the government in the receiving country. Transshipment risk is particularly high in countries with weak banking systems, inadequate regulation of financial institutions, and unreliable or nonexistent recordkeeping. The risk arises because it is difficult to track the movement of funds between countries, making it difficult to detect any suspicious or criminal activity. As such, it is important for anti-money laundering experts to be aware of transshipment risk and to analyze and monitor the flow of funds between jurisdictions to ensure that suspicious or criminal activity is not taking place.
  • Triangulation fraud is method of fraud whereby a malicious actor attempts to exploit multiple companies or individuals in order to gain illegal financial gain. The scam works by luring two or more parties into entering into a transaction involving payments, goods, services or transactions. The scammer then utilises the transaction for their own ill-gotten financial gain. Typically, the scammers will request one party to pay into their own account, divert payments, or request goods upfront without intending to pay later. Furthermore, the scammer may act as an intermediary in a transaction, helping to broker deals and then attempt to take the profit without providing the agreed service or goods. This type of fraud is very difficult to spot, as all parties involved could be acting in good faith, unaware of the scam until it is too late.
  • Triple DES (also known as 3DES, Triple Data Encryption Standard, and 3-DES) is a type of symmetric encryption technology used to securely protect data. It is based on the DES (Data Encryption Standard) algorithm which encodes data three times using three different keys. Triple DES breaks up each encryption into 3 separate encryption algorithms, allowing for longer encryption lengths and improved security. Triple DES encrypts data by taking a 64-bit input, breaking it up into two 32-bit halves, encrypting the halves separately, and then combining them. The encryption process happens in the same way each time, but with different keys. By using different keys, the output is a different result, making the encryption algorithm much harder to crack. Triple DES is used for a wide variety of applications, such as securing online transactions and securing military, government, and enterprise networks.
  • A Trojan or trojan horse is malicious type of software that is made to look like a legitimate file, program or application. It is designed to appear harmless, whilst secretly performing unwanted functions, such as downloads, installation of malware, data theft and other malicious activities. Trojans are usually downloaded unknowingly along with legitimate software and can be spread through malicious websites, deceptive email attachments and other malicious activities. Trojans can be used to gain access to user account credentials, banking details, personal data, and more. By gaining access to these details, criminals can steal money and commit identity theft. Once inside a system, a Trojan can exploit vulnerable spots, spread malware further and disrupt computers, networks and servers. It is essential for people to be aware of the dangers of Trojans and to take preventative measures such as not opening attachments from unknown sources and using anti-virus software.
  • A Trojan Horse is a type of malicious software (malware) that appears to be legitimate but performs a hidden malicious activity without the user's knowledge. It is named after the mythological Trojan horse used by the Greeks to invade the city of Troy. Trojan Horses are designed to gain access to a user's system and spread malicious code, steal data, or send malicious commands in the background. They can be used to gain access to a user's personal information, financial information, and system resources. Additionally, they can be used to manipulate user accounts and disable system security features, allowing hackers to further exploit the compromised system. It is important to note that many Trojan horses are difficult to detect and contain, even with the most advanced security measures.
  • True Negative occurs when a security system successfully identifies lack of malicious activity or threat. It is a measure of the effectiveness of a security system, typically calculated for anti-malware and fraud prevention systems. A true negative result means that a system detected the absence of threat and no related malicious activity was detected; in other words, a security system correctly identified the lack of risk. True Negative provides an accurate measurement of the system performance, meaning that the system identified malicious activities, but also false alarms. As such, an ideal security system should provide an acceptable rate of both true positives and true negatives in order to ensure that threats are detected and that system performance is not compromised.
  • True Positive occurs when a fraud detection method correctly identifies that an anomaly or unusual behavior is fraudulent. True positives are important because a correct identification helps stop fraudulent activity and preserves the security of a customer's account. True positives allow organizations to avoid false positives, which can result in a customer's access being wrongly restricted or blocked. True positives come in the form of early warning signs and help identify irregularities in customer activity or digital systems. Organizations must manage false negatives and false positives to ensure that their systems are accurately detecting fraud and other suspicious activities. True positives should be carefully and consistently monitored so that the organization can be proactive in detecting and preventing fraud.
  • A trust account is a special account at a financial institution that is used to hold assets for a third party. This account is typically used in situations such as estate planning, when a guardian is appointed for a minor, or when a lawyer is holding funds for a client. The assets in a trust account are owned by the beneficiary and are managed by a trustee who is responsible for investing and managing the funds in a way that is in the best interests of the beneficiary. As an Anti-Money Laundering Expert, it is important to be aware of the trust accounts held by clients and look out for any suspicious activity associated with these accounts.
  • A Trust or Company Service Provider (TCSP) is an entity or individual that provides services related to the formation and management of legal entities and trusts, including: acting as a director, secretary, or shareholder of a company; providing a registered office, business address or accommodation address; assisting in the formation of legal entities; and/or providing a nominee director, nominee shareholder, or trustee. TCSPs must be authorised and regulated by the appropriate financial authorities and are subject to Anti-Money Laundering regulations. In doing business, TCSPs are required to identify their clients, monitor the purpose and activity of the account or relationship, report any suspicious activity, and ensure that any funds received are from a legitimate source.
  • A Trustee is a person who holds legal title to assets for the benefit of a third-party, known as a Beneficiary. The Trustee is responsible for managing and preserving the assets in accordance with the terms of the trust agreement, applicable law, and any specific instructions from the Beneficiary. This includes investing and distributing the assets as well as protecting them from harm. Anti-Money Laundering experts play an important role in the Trustee network, ensuring that all Trustee activities are conducted in accordance with anti-money laundering laws and regulations, thereby protecting the Beneficiary's assets from being used for illicit activities.
  • Tunneling is a networking technology used to create a secure connection over an unsecured network, such as the Internet. It allows data to be transmitted in a secure, encrypted form over the Internet, protecting it from outsiders. Tunneling works by encapsulating data within another protocol, such as IP, to add additional layers of security. This encapsulated data is then sent over the public network, making it virtually impossible for a third party to access the data, as it is being transmitted securely. Tunneling is a key component of secure internet communication, as it prevents the interception and alteration of data during transmission.
  • Two-Factor Authentication (2FA) is a security system that requires two separate forms of identification in order to verify a user’s identity. The two factors could be a combination of something the user knows (a password or PIN) and something the user possesses (a hardware token or mobile phone). The benefit of 2FA is that it provides an extra layer of security for users by making it more difficult for attackers to gain access to sensitive data. The two forms of identification must match for the user to be validated and allowed access. For example, an online banking service may use 2FA to verify a user’s identity when they log in. First, the user will enter their username and password, and then they will be asked to supply the correct PIN or answer a security question. Without supplying both pieces of information, the user will not be granted access.
  • Two-step authentication (also known as two-factor authentication or multi-factor authentication) is an authentication process that requires two separate steps or components for a user to gain access to a system. The system requires the user to provide two different types of evidence that they are authorized to use the system. This can include providing a combination of a username and password, as well as a physical token or biometric data, including a finger print, voice or face recognition. The two-step authentication process provides added security by ensuring that a hacker attempting to gain access to a system must have both pieces of information in order to do so. This added security layer helps to protect critical systems and data from malicious activities and unauthorized access.
  • Two-Step Verification is a process in which a person or organization must authenticate themselves using two distinct methods. The first step requires the user to enter a username and password, which is then verified against a database. The second step requires a verification code sent to the user's device. This code is then entered into the verification prompt in order to finish the authentication process and grant access to the account. Two-Step Verification is an additional layer of security used to reduce the risk of unauthorized access to an account or system. It adds an extra layer of security to protect private and confidential information.
  • A typology is an analytical method used by Anti-Money Laundering experts to categorize money laundering activity into distinct categories. These categories are identified by common methods, processes, and activities used to facilitate money laundering. The typology can help to identify the source of illicit funds, the methods used to transfer funds, and the type of goods and services used to launder money. By understanding the typology of money laundering activity, experts can build a better understanding of the methods and processes used to move illicit funds and take more effective steps to combat it.
  • Typology is the study of different types of money laundering techniques, which can be used to identify patterns in activities that are suspected to be related to money laundering. It is a process of categorizing different types of money laundering activities and identifying the similarities and common trends between them in order to better understand money laundering as a whole. Different typologies of money laundering can be used to identify common methods and practices used, which can help in the prevention and detection of money laundering activities. Typology also helps to identify characteristics which are common amongst particular money laundering activities, which can assist with the analysis and investigation of money laundering.
  • The U.S. Treasury is the federal government agency responsible for managing the national debt, issuing currency, and managing the government’s financial resources. It has also become a major player in the fight against money laundering and terrorist financing by implementing the rules and regulations of the Bank Secrecy Act. The Treasury enforces these regulations through the Financial Crimes Enforcement Network (FinCEN), which has the authority to issue subpoenas, examine bank records, and take civil and criminal enforcement action against violators. It also works with several other U.S. government agencies, as well as international organizations, to combat financial crime.
  • U-Turn Payment is a type of international payment transaction that occurs when funds sent from the United States to a foreign country are sent back to the United States without the involvement of the original sender or recipient. This type of transaction is sometimes used by criminals to conceal the true ownership of funds, and is therefore a red flag for Anti-Money Laundering (AML) experts. U-Turn payments may also be used to avoid foreign currency exchange controls and capital flight restrictions, as well as to facilitate money laundering, terrorist financing and other illegal activities. For this reason, Anti-Money Laundering (AML) experts must evaluate U-Turn payments carefully to ensure that they are not potentially related to criminal activities.
  • U2F (Universal 2 Factor) is a security technology for authentication. It provides a secure two-factor authentication that is fast and easy to use. It is an open authentication standard that uses secure public key cryptography. U2F attempts to combine elements of authentication, risk assessment, and cryptography to secure user access. It typically uses a physical device such as a security key or a key fob in order to generate a one-time use code that must be entered in order for access to be granted. This token code is unique for each user and is easily identifiable, adding an extra layer of security to the user's account. This helps protect against fraud and identity theft, as the code cannot be guessed or easily damaged. U2F is rapidly becoming a preferred choice for cyber security because of its dual layer of protection.
  • UDP scanning is a cybersecurity technique used to identify open ports on a target system. During the process, a user sends UDP packets with no content (null UDP packets) to ports on the target, and records the responses. The response received from the port indicates whether it is open, closed, or filtered (blocked). This technique is used by security experts to assess the vulnerability of a system and identify possible malicious activities such as DDoS attacks (distributed denial-of-service). Implementing UDP scanning is an important security measure for any organization, as it can help to identify open ports that could be leveraged by attackers.
  • The Ultimate Beneficial Owner (UBO) is the natural person(s) who ultimately owns or controls a legal entity, and/or the person on whose behalf a transaction is being conducted. UBOs can be the direct or indirect owners of a company, any members of the board or senior management, or any persons exercising ultimate control over the legal entity. UBOs must be identified and verified according to standards set by Anti-Money Laundering (AML) regulations. The identification of UBOs is important to ensure that beneficial owners of legal entities are not anonymous and to prevent legal entities from being used for money laundering.
  • UN Security Council Resolution 1373 (2001) is a United Nations Resolution that addresses the threat of terrorism. It requires states to prevent the financing of terrorist acts, freeze assets that are related to terrorist organizations, criminalize terrorist activities, and cooperate with other states in such activities. The Resolution also requires states to criminalize the concealment or conversion of proceeds from criminal activity, as well as the concealment or conversion of property from its lawful owner. The Resolution further establishes a Committee of the Security Council to monitor the implementation of its provisions and to assist states in meeting the requirements of the Resolution.
  • Unauthorized disbursements are financial transactions that are conducted without the authorization of the rightful owner. This fraudulent activity can occur through various scams including the use of stolen credit cards, unauthorized ACH transactions, fake checks, or other fraudulent methods. Having proper fraud prevention measures in place to monitor and protect against these activities is essential in order to limit the damage caused by this type of theft. To protect against unauthorized disbursements, organizations should have multiple levels of safeguards such as implementing processes to detect and review suspicious activities, providing user authentication for validating users' identity, and having systems in place that can detect and alert whenever a fraudulent transaction occurs.
  • Unauthorized use of assets refers to the use or misuse of physical or digital resources without official permission. This could include stealing, hacking, or taking control of company resources or information in order to gain some advantage or commit fraud. Unauthorized access might also involve the use of passwords, access tokens or other confidential information, as well as manipulating operating systems, or networks to commit a crime or gain access to a system or data. It is considered to be a serious crime, with severe penalties for offenders. Cyber security professionals use specialized tools to detect, prevent and mitigate such unauthorized activities.
  • Unauthorized Withdrawals refer to money that is taken from an account without the account holder’s permission. This type of financial fraud is commonly referred to as “theft” or “theft by deception”, as the perpetrator usually takes advantage of vulnerable clients who have either signed up for new accounts or granted access to existing accounts. Unauthorized withdrawals can take many forms, such as taking out a loan or opening a new credit card and then quickly closing it to a making unauthorized transfers or withdrawals from an automated teller machine or account. Banking institutions and other financial services are constantly looking into ways to better protect clients from this type of fraud.
  • Underground Banking is a term that refers to an alternative system of finance that operates outside the traditional banking system. This type of banking involves the use of private networks, informal money transfer systems, and unregulated financial transactions. It is often used to transfer large amounts of money without leaving a traceable paper trail, making it a popular choice for people looking to launder money or evade taxes. These underground networks are often used by organized crime groups and terrorist organizations to hide or move illicit funds and also by individuals or businesses who are seeking to avoid financial regulations or taxation.
  • A Uniform Resource Identifier (URI) is a string of characters used to identify a resource in the World Wide Web (WWW). It specifies a method for identifying and locating a resource such as a website, a directory on a server, or a specific file. An example of a URI is http://www.example.com/index.php. A URI consists of three major components: the scheme, the authority, and the path. The scheme describes the protocol used to access the resource, the authority typically indicates the hostname of the server, and the path specifies the hierarchical structure of the directory. URI also serves to provide an effective way to secure and identify web resources in a secure manner.
  • A Uniform Resource Locator (URL) is a way to denote a specific web page or resource on the internet. It is used to identify and locate a particular resource on the internet, such as a website, web page, file, or other resource. URLs consist of multiple components, such as protocol, server name, port number, and file name. URLs allow users to access and view web content by typing in the address or clicking on a link from another web page. URLs are used by web browsers to find and display web pages, and also to reference resources embedded within a web page. URLs also play an important role in Cybersecurity by providing a way to verify the authenticity of websites and helping to protect users from malicious activities by providing a way to identify potentially dangerous URLs.
  • Unilateral sanctions refer to one state or organization introducing economic and other restrictions against another state or organization. These sanctions may include the freezing of assets, trade embargoes, the banning of imports or exports, or the restriction of travel to and from the sanctioned state or organization. The purpose of unilateral sanctions is to put international pressure on specific countries in order to compel them to act in a way that is acceptable to the rest of the international community. Such sanctions are used to discourage activities such as human rights violations, weapons proliferation, terrorism, and money laundering.
  • Unique Identity is a term used to describe a system or set of authentication credentials that provides a form of verification based on dedicated and reliable data sources. It is used to validate an individual’s identity, providing an extra layer of security during online activities such as online banking or online purchases. Unique Identity can be an individual’s biometric data, a passport number, government-issued ID, driving license or social security number. Other forms of Unique Identity include individual’s behavior or lifestyle, device ID’s, two-factor authentication, dynamic security questions and third-party authentication services like Equifax ID or Experian ID. Unique Identity plays a vital role in fraud prevention and cyber security measures, as it helps to ensure that the user is a real person, preventing identity theft and other types of financial or identity fraud.
  • The United Nations Act (UNA) is an international law that requires all states to take measures to prevent and combat money laundering and other related criminal activities. The UNA specifically requires states to ensure that their financial institutions and systems are not used for money laundering, by implementing laws and regulations that mandate reporting of suspicious activities and transactions to the relevant authorities. It also obliges states to cooperate with one another in investigations and prosecutions of money laundering and other related criminal activities. The UNA provides a framework for international cooperation and information sharing and facilitates the enforcement of laws and regulations to combat money laundering.
  • The United Nations Convention Against Corruption (UNCAC) is an international agreement to combat global corruption. It was adopted in October 2003 and entered into force in December 2005. It is the first legally binding global anti-corruption instrument and is a comprehensive, legally binding agreement which promotes preventive strategies and enhanced international cooperation to fight corruption. It includes provisions to deter, prevent, and detect corruption and to improve international law enforcement and asset recovery. The Convention requires States to criminalize a range of activities, including bribery, trading in influence, money laundering, and abuse of public office. It also sets out measures to prevent, detect, and punish foreign bribery and provides for the return and exchange of stolen assets.
  • The UN Security Council (Sanctions) are measures taken by the United Nations Security Council in order to maintain international peace and security, as provided in the UN Charter. These sanctions usually involve the freezing of assets, prevention of international trade, as well as other measures issued by the Council. As an Anti-Money Laundering Expert, it is important to be aware of the measures imposed by the UNSC, and ensure financial institutions comply with the standards set out by the Security Council in regards to the freezing of assets and other applicable measures. UNSC sanctions are an important tool in the fight against money laundering and terrorism financing.
  • The United Nations (UN) is an international organization founded in 1945 to promote world peace, security, and socio-economic development. It is made up of 193 member states and five permanent members on the Security Council. The UN is responsible for maintaining international peace and security, protecting human rights, providing humanitarian assistance, promoting sustainable development, and upholding international law. Its most prominent organs include the General Assembly, Security Council, Economic and Social Council, and Secretariat. The UN works to achieve its goals through diplomatic negotiations, peacekeeping operations, and collective security arrangements.
  • Unsupervised machine learning is a method of artificial intelligence that uses data sets to identify patterns and structures in data without giving the program a predetermined output directive. It relies on clustering and association algorithms to identify patterns that the program may not have been programmed to look for. It is useful for detecting anomalies and fraud that the programmer may not have specifically identified. Unsupervised machine learning offers flexibility, as it can be used to detect trends and patterns that the actual programmer cannot identify. Additionally, it can help improve the accuracy of predictive models, because it can identify correlations that the programmer is not aware of.
  • An unusual transaction is a financial activity that may indicate money laundering, terrorist financing or other financial crime. Generally, an unusual transaction is one that is not consistent with the customer's or business's typical activities and is inconsistent with the financial institution's normal risk profile for that customer or business. An unusual transaction may be one that does not have an apparent economic purpose or one where there is an unusual or suspicious pattern to the activity. Red flags for unusual transactions include discrepancies between deposits and withdrawals, irregular or unusually large transaction amounts, transfers from or to high risk or sanctioned countries and multiple payments from the same customer.
  • URL spoofing is a type of cyber attack in which an attacker creates a convincing but fraudulent website that is designed to mimic a legitimate one. The attacker does this by manipulating the Domain Name System (DNS) to make it appear as though the fraudulent site is the legitimate one. By tricking a user into accessing the fraudulent URL, the attacker can gain access to sensitive data and potentially even buy goods or services from an unsuspecting customer. The attacker can also use the spoofed site to deliver malware, phishing attacks, and other malicious content. URL spoofing is particularly dangerous as it can be deployed without the user's knowledge or suspicion. To mitigate the risk of URL spoofing, it is important to ensure your web browsers have up-to-date security software, carefully read website URLs, and consider using SSL/TLS encryption for sensitive transactions.
  • The USA PATRIOT Act (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001) is a federal law that was signed into effect in October 2001 to strengthen national security. It enhances the United States government’s ability to detect, investigate and prosecute terrorism, money laundering, and other financial crimes. The legislation requires banks, securities firms, and money services businesses to establish customer identification and verification programs; report suspicious activity; and maintain records for certain transactions. It also enables the government to access financial records with minimal judicial oversight. The Act is an important tool in the fight against money laundering, which can be used to fund terrorists and other criminals.
  • The User Datagram Protocol (UDP) is a connectionless protocol which operates on the Internet Protocol (IP) and is used for the efficient transfer of data between end points. It is an alternative to the Transmission Control Protocol (TCP). UDP is suitable for applications that require speed over reliability and where the cost of a lost packet is minimal. It offers no acknowledgement of delivery, no flow control, no retransmission of lost packets, and no congestion control. Because it is connectionless and requires minimal overhead, it is suitable for applications such as voice and video streaming, live broadcasts and online gaming. Finally, UDP is capable of supporting multicast traffic, making it ideal for applications where multiple clients must receive the same data.
  • Utility fraud is the theft of energy or utility services (gas, electricity and/or water) by tampering with meters and other equipment, abusing a payment arrangement, disconnecting service without permission or other illicit practices. Utility fraud is a major problem throughout the world that has the potential to cost millions of dollars each year. Utility fraud does not only include criminal tampering, but is also the result of incorrect billing, billing for services never received, allowing donations to be made under false pretenses, to name a few. This type of fraud is often overlooked as its cost may be hard to quantify and are often buried in the expenses of utilities. Utility fraud is difficult to detect as a variety of methods can be used to manipulate meter readings or take advantage of payments arrangements established to benefit vulnerable consumers.
  • Value Transfer Services refer to any service offered by financial institutions, non-financial businesses, or other entities that allow for the transfer of value between parties. These services may include, but are not limited to, wire transfers, money orders, check cashing, virtual currency, international money transfers, and more. These services provide a mechanism for individuals and businesses to transfer monetary value from one party to another without having to physically transport the funds. It is important to note that these services can facilitate the laundering of illicit funds, which is why Anti-Money Laundering experts take steps to ensure that these services are used appropriately and in accordance with the law.
  • Velocity filtering is an anti-fraud and security technique employed to detect and block any attempted cash, credit, or debit transactions that exceed pre-programmed velocity limits. These velocity limits, or thresholds, indicate the number of times in a given period (minutes, hours, days, or weeks) that an account can be used to make legitimate (approved) purchases. If the limit is exceeded, the transaction is flagged and blocked. This prevents fraudulent merchants and hackers from using an account multiple times in a short time period and also prevents innocent customers from inadvertently exceeding their approved purchase limits. In addition, velocity filters can also help protect businesses from reputational damage due to customers overspending.
  • Velocity of Money is an economic concept measuring the speed at which money passes from one party to another. It tells us how many times a unit of currency is used in a given time period. Generally, the higher the velocity of money, the better, since it means that more activities are occurring – businesses are selling more goods and services and people are earning more income. Higher velocity of money helps to propel economic growth, reducing unemployment and providing stability. It is also important for central banks to monitor the velocity of money, as it can be a useful indicator of consumer confidence and economic health. The velocity of money can also be affected by certain policies, such as quantitative easing and other monetary policies designed to increase consumer spending.
  • The Vienna Convention is a multilateral treaty negotiated by the United Nations Commission on International Trade Law (UNCITRAL) which sets out international standards for the prevention and suppression of money laundering. It is the most comprehensive international document dealing specifically with money laundering and is intended to assist countries in implementing effective anti-money laundering measures. The Vienna Convention requires countries to have laws and regulations in place that criminalize money laundering activities and to have financial intelligence units to detect, investigate and report suspicious financial transactions. It also imposes a set of customer due diligence measures, such as customer identification and record keeping, to help prevent money laundering.
  • Virtual currency is a digital asset created to act as a medium of exchange that functions similarly to traditional currencies, such as the U.S. dollar, but is not backed by any government or central banking institution. It is also not considered legal tender, and is not necessarily backed by a physical commodity. Transactions involving virtual currency can take place on peer-to-peer networks and can be used to purchase goods and services. As an Anti-Money Laundering Expert, I understand the potential risks associated with virtual currencies and their prevalence in money laundering activities. The primary risk lies in the ability to facilitate anonymous, irreversible and largely untraceable transactions, making virtual currency attractive to those engaging in illicit activities. Therefore, proper monitoring and enforcement of AML compliance measures are necessary to prevent and detect misuse.
  • A Virtual Private Network (VPN) is a type of secure private network that uses tunneling protocols and encryption to provide a secure and private connection to the internet from private networks, such as those within a business, organization or home. VPNs can also be used for maintaining a secure connection over public broadband networks. VPNs provide increased security against threats such as identity theft and unauthorized access to internal networks by encrypting all data across different networks. They also enable a high degree of privacy and anonymity by obscuring an individual’s online activity from their Internet Service Provider (ISP). Furthermore, using a VPN eliminates the need for complex network management, and allows for access to services and applications that are not normally available to individuals outside of their physical location.
  • Virtualization Security is the process of using a virtualized platform to provide secure access to data, applications, and networks. A virtualized platform enhances security by creating a sandboxed environment, allowing the user to securely access resources through a virtual machine, rather than directly accessing them. Virtualization Security also provides the ability to easily scale resources, allowing organizations to rapidly respond to changing demands. Additionally, virtualization security helps protect against malicious attacks, as it is nearly impossible to gain access to a physical machine. Virtualization Security is a powerful tool to protect organizations of any size from malicious attacks, allowing them to remain one step ahead of potential cyber threats.
  • A virus is a piece of malicious code that exists in cyberspace and is designed to replicate and spread from computer systems to other computing systems. When a virus is introduced to a system, it copies itself and uses the host system’s resources to infect other systems. The virus can be programmed to cause a variety of different problems such as encrypting data, deleting important files, stealing data and compromising the system's security. Viruses are typically spread via email, download links, instant messaging, and even through malicious websites and infected USB drives. To prevent viruses, people should download antivirus software and regularly update it with the latest security patches, avoid clicking on suspicious emails or links, and install a firewall.
  • Vishing, also known as “voice phishing”, is a way for scammers to try to steal private information over the phone. In the scam, a scammer calls or leaves voicemails posing as a legitimate entity, such as a bank or government agency, in an attempt to collect personal information. Examples of personal information that scammers may try to gather include full names, addresses, credit card information, social security numbers etc. Scammers use many tricks to convince people to give this information. For instance, they may make urgent statements claiming that they need the information immediately, or they may threaten legal action or jail time if it isn't given. As people become more aware of the dangers involved in vishing scams, it is important that people protect themselves by not sharing important personal information with strangers. It is also a good idea to contact the actual organization in question first to make sure the call is legitimate.
  • Voice Authorization is a fraud prevention process that involves verifying the identity and accuracy of a customer's payment information over the phone between the cardholder and the merchant. This is done by taking several steps to ensure the cardholder making the purchase is actually the cardholder whose name is associated with the card. This often involves asking the cardholder questions related to the billing address or other identifying information, such as to confirm the last 4 digits of their social security number. The merchant then contacts the issuing bank, typically through an automated system, to confirm that the cardholder's answers have matched the bank's records. If approved, the merchant will then complete the transaction. In the event of a mismatch, the transaction can be declined. Voice Authorization is a helpful, simple way for merchants to quickly verify payment information and reduce the risk of fraud.
  • A Voice Firewall is a form of network security protection that is specifically designed to protect Voice over Internet Protocol (VoIP) data transmissions. The Voice Firewall is designed to detect, prevent and monitor potential threats to voice conversations. It uses a combination of hardware and software to examine each call as it goes through the network, looking for signs of malicious activity, inappropriate content, and unauthorized access. The Voice Firewall can not only detect and block malicious attackers, but it can also alert administrators to any potential risks. In addition, the Voice Firewall can also be used to enforce policies, such as quality of service, by limiting the rates and types of connections that can be made. Ultimately, the Voice Firewall provides an enhanced layer of security for VoIP networks, ensuring that your conversations remain secure and confidential.
  • A Voice Intrusion Prevention System (IPS) is an advanced security system designed to protect voice-enabled networks from malicious attacks. It uses signature- and anomaly-based detection techniques to analyze incoming voice traffic and identify known and unknown threats. IPS also employs heuristics and machine learning algorithms to detect abnormal patterns of behavior and block malicious traffic. Additionally, Voice IPS systems can be integrated with automated patching solutions to ensure that newly discovered vulnerabilities are addressed quickly and effectively, minimizing the risk of compromise. With its comprehensive suite of features, Voice IPS is an important tool for organizations to reduce the risk of network intrusion and ensure the security of their systems and valuable data.
  • Voice over IP (VoIP) is a technology that enables users to make telephone calls over the internet. It is an alternative to traditional telephone lines, which can be costly and require specialized hardware. VoIP utilizes software and dedicated hardware to enable voice communication over the internet. In essence, VoIP converts analog telephone signals into digital information that can be sent over the internet and received anywhere an internet connection is available. The technology is used by businesses, organizations, and individuals to make and receive phone calls in a cost-effective and convenient manner. The most common VoIP products are Skype, Google Voice, Cisco Webex, and other internet telephony services which allow users to make and receive calls directly from a computer or a mobile device. VoIP technology is gaining popularity as businesses find it a cheaper and more flexible solution for their communication needs.
  • Vulnerability is an inherent flaw or weakness in a system’s security structure or architecture which can be exploited to gain unauthorized access to sensitive or confidential data. They are most often found in software applications, operating systems, or hardware configurations. Vulnerabilities can be caused by design or implementation errors, inadequately tested patches or updates, and/or insufficient security controls. Vulnerabilities can manifest as security flaws, backdoor access points, incorrect system configurations, weak passwords, or other weaknesses. Exploiting these vulnerabilities can lead to data breaches, system downtime, or financial losses, making it important for organizations to continually monitor for vulnerabilities and address them in a timely manner.
  • A vulnerability assessment is a comprehensive review and analysis of an organizations information system and associated infrastructures to identify potential weaknesses (vulnerabilities) that could be exploited by malicious attackers. It is a core component of any successful and comprehensive cybersecurity program. Vulnerability assessment can range from a simple scan to a thorough analysis of the entire IT infrastructure. The purpose of vulnerability assessment is to not only identify vulnerabilities, but also to determine the potential impact that these vulnerabilities may have on an organization's confidential information, financial assets and reputation. It is important to have a reliable vulnerability assessment process in place so organizations can be aware of security gaps in their systems and take the appropriate steps to remediate them.
  • Weak alias is a form of anti-money laundering (AML) that relies on identifying customers with just an alias. This type of AML solution allows financial institutions to reduce the risk of suspicion during a transaction. Unlike strong alias, which requires full customer identification, weak alias only requires a first name and state or country of residence. This is often used in low-risk transactions, such as those with low-risk customers. By relying on only a first name and geography, the potential risk of money laundering is decreased, while still providing the institution with enough information to identify the customer and fulfill its due diligence requirements.
  • A Web Application Firewall (WAF) is a security solution designed specifically to protect web applications from malicious attacks. It is placed between the web server and the Internet, analyzing incoming traffic and preventing attack attempts from reaching applications. WAFs are capable of inspecting requests from a variety of sources, such as user-input, cookies, and HTTP headers, redistributing malicious processing and blocking attacks that attempt to exploit vulnerabilities. WAFs also provide protection against denial-of-service (DoS) attacks, malicious bots and crawlers, and cross-site scripting, as well as unauthorized data access, content injection, and session manipulation. In addition, WAFs can be configured to apply security policies that limit the access to an application, allowing only legitimate traffic to reach it.
  • A web browser is an application used to access information on the Internet. It's a piece of software designed to interpret text, images, and other types of data so that it can be displayed in an understandable and user-friendly format. It also allows users to access various websites without subscribing to any third-party services. Web browsers are configured to make sure webpages are easily accessible and that the user is secure while browsing. They offer protection against potential cyber-attacks by enabling encryption and inspecting the content of each web page before loading it. Web browsers also enable features such as the ability to detect malicious software and alert the user, save website information to improve how they appear when revisited, and remember login information to reduce the amount of time spent logging in.
  • The Web of Trust is a system of trust metrics used to measure the relative trustworthiness of individuals, groups, products, and services over a network. This system allows users to rate each other, as well as assign types of trust to different entities. This system can also be used to detect malicious actors and activities, as well as alert security professionals when a user may be engaging in activities that could potentially be malicious. Additionally, it can be used to determine the level of trust between different entities and highlight security concerns, which can help organizations better protect their networks and data.
  • Web security is a branch of information security that specifically deals with securing information and data on the Internet. It focuses on protecting websites and web applications from malicious attacks that can compromise the safety, security, and confidentiality of the data and information stored or shared online. These attacks include viruses, worms, malicious scripts, trojan horses, denial of service, SQL injection, phishing, and other malicious activities. Web security measures typically involve implementing firewalls, encryption, access control, and other monitoring and security measures to protect data and information stored on different websites and web applications.
  • GIABA is an intergovernmental organization established to promote and support the implementation of regional anti-money laundering and counter-terrorist financing standards in West Africa. It was established in 2000 by the Economic Community of West African States (ECOWAS) in accordance with the 2001 UN Convention against Corruption and the UN Convention against Transnational Organized Crime. GIABA focuses on the detection, investigation and prosecution of money laundering and terrorist financing in the region and provides technical assistance in the areas of AML/CFT supervisory practices, anti-money laundering/counter-financing terrorism laws and regulations, capacity building for financial intelligence units and other national institutions, and other related compliance activities.
  • Whaling is an advanced cyber attack targeting high-level executives. It is a type of spear phishing in which malicious actors pose as executives or authority figures by sending emails with the intention of gaining sensitive or confidential information. These emails often contain an urgent request for corporate information, such as a request for financial data or for credentials for secure systems. Once the malicious actors receive the data, they can use it to access the organization’s data, networks, or other applications. Whaling exposes organizations to potential data leaks, financial losses and disruption to operations, as well as potential damage to their reputations. As such, it’s critical that organizations take steps to protect themselves against this form of attack by engaging in user awareness training and instituting data security measures.
  • White Collar Crime is a term used to refer to a type of crime committed by individuals or businesses, typically in order to financially gain. These crimes are usually non-violent and involve deception or other fraudulent activities such as fraud, embezzlement, insider trading, bribery, tax evasion etc. As an Anti-Money Laundering Expert, it is my duty to investigate and detect White Collar Crime and the individuals or businesses involved in such activities. My mission is to protect the integrity of the financial system by reducing criminal activities and safeguarding the public’s confidence in it.
  • White Hat Hacking is an ethical and legal form of penetration testing which is conducted with the organization's permission. It is a form of security testing that is used to identify any weaknesses within the systems or networks, and to identify and understand any potential vulnerabilities. It is used to investigate and analyze the security of a system to make sure it is secure and has no potential for any malicious activity. White Hat Hacking is commonly used to identify security weaknesses and provide recommendations for how to fix and improve the security of the system. There are three main techniques used in White Hat Hacking: footprinting, scanning, and enumeration. It is important to remember that the goal of White Hat Hacking is to protect the system and organization and is not intended for malicious intent.
  • A whitelist is a list of approved or trusted individuals, entities, or financial institutions that are allowed to conduct business without extra scrutiny. The most common use of a whitelist is in the context of Anti-Money Laundering (AML) regulations, as financial institutions and other entities must utilize a whitelist of customers and entities they deem acceptable to conduct business with. This list is then regularly monitored to ensure compliance with AML regulations. The whitelist helps organizations know who they can do business with, which helps them protect themselves from money laundering schemes.
  • Whois is an Internet protocol that provides information about domain names or IP addresses. It is used to determine the domain name or IP address owner, administrative and technical contact information, and other important details relating to registration. It is a public database that stores the contact information of registered domain names and IP addresses. It helps in identifying who is behind a website and can be used to protect against online fraud and cyber security threats by verifying the legitimate identities of those behind a website. It is commonly used by law enforcement and cybersecurity professionals in investigating cases of online fraud, cybercrime and other security concerns.
  • Willful Blindness is a term used to describe a situation where an individual or entity has knowledge or awareness of a potential illegal or unethical conduct and chooses not to take any action or to take insufficient action, in order to maintain an appearance of compliance. This behavior can be extremely damaging to an organization, as it can create an environment where illegal or unethical activities can take place unchecked. Willful Blindness can also lead to significant financial and legal consequences, including fines and criminal charges. It is important that organizations remain vigilant in monitoring and preventing any potential misconduct or illegal activities, as willful blindness can be a major risk to the organization's reputation and financial health.
  • Wire fraud is a type of financial crime involving the misuse of wire or electronic funds transfers to steal money or other assets. It usually involves a criminal using false information to convince a financial institution or other organization to transfer funds to an account they control. For example, a criminal may call up a bank employee and pretend to be an executive or customer, then ask them to make a transfer of a certain sum to an account they control. This type of fraud can also involve computer networks, emails, or other electronic communications. Criminals will often use fake emails or other messages in order to mislead victims or conceal their true identities. Victims are often left financially vulnerable after a successful wire fraud attack.
  • A wire transfer is a method of electronic funds transfer from one person or entity to another. It is a convenient and secure way to transfer money quickly between different banks or financial institutions. It is commonly used to pay for goods or services, transfer funds between individuals, or to make large payments that would be costly to move by other methods. Generally speaking, a wire transfer involves the transfer of funds from one banking institution to another, either electronically or by physically sending paper documents. The money is transferred in real-time and is usually available for use within 24-hours. Wire transfers are subject to Anti-Money Laundering regulations and must adhere to certain safeguards to ensure that the money being transferred is from legitimate sources.
  • Wired Equivalent Privacy (WEP) is a security protocol used in Wireless Local Area Networks (WLANs). It was developed in the 1990s and was the original security protocol for WLANs. It is based on the Wired Data Encryption Standard (DES) and uses a 64-bit symmetric key. The purpose of WEP is to provide a level of privacy comparable to that of a wired network. It does this by encrypting data sent over the WLAN and authenticating the identity of the user. WEP also has the ability to prevent unauthorized access to the network. Despite its success, WEP has been found to be vulnerable to a number of security exploits and is now considered obsolete. As a result, newer, more secure protocols such as WPA and WPA2 have been developed and are now the standard for secure WLANs.
  • Wireless Application Protocol (WAP) is a worldwide standard for the implementation of mobile applications over wireless networks. It facilitates the delivery of internet- and web-based services to mobile devices, such as mobile phones and tablets, through the use of wireless networks, such as radio frequency, infrared, Bluetooth and others. WAP provides a secure, encrypted mechanism for the transfer of data to and from mobile devices, and ensures that mobile applications are interoperable with different mobile platforms, such as iOS, Android and Windows Phone. By leveraging existing WAP protocols, cybersecurity experts can deploy and maintain secure communication protocols and standards for mobile devices, ensuring the safety and confidentiality of data sent over wireless networks.
  • Wiretapping is a method of intercepting a person's communication using electrical or radio waves. This could involve the interception of telephone conversations, text messages, emails, and other forms of digital communication. Wiretapping is a form of espionage usually conducted by governments or law enforcement agencies. Wiretapping is illegal in some countries, and may only be done with a warrant based upon probable cause. It is also used by private actors for malicious reasons, such as to intercept and steal information from another person's computer. As a Cybersecurity Expert, it is my duty to ensure that such illegal and malicious activities are prevented, by implementing proactive security measures and staying abreast of the latest developments in this field.
  • The Wolfsberg Group is an organization that focuses on the prevention of money laundering and terrorist financing. It was established in 2000 by a consortium of eleven major international banks, which include Credit Suisse, Deutsche Bank, Barclays, JP Morgan Chase, UBS and HSBC. The primary goal of the group is to develop and promote a uniform set of standards and guidelines for the banking industry to use in the prevention and detection of money laundering and terrorist financing. These standards and guidelines form the basis for banks’ Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) strategies, programs and processes, and have been adopted in numerous jurisdictions around the world.
  • Work-from-home scams, also known as business opportunity scams, are a type of fraud where the perpetrator promises potential victims the opportunity to work from home and make an income. This often involves asking for payment for items and services by victims, and in exchange, the victim receives little to no income. Common tactics used by criminals include requesting upfront deposits, requests to purchase a business opportunity package, and requests to provide personal information such as credit card numbers. These scams are often designed to appear as legitimate businesses, making them particularly difficult to detect. People who fall victim to work-from-home scams typically lose money, time, and resources. It is important to note that not all work-from-home or business opportunities are scams—it is important to research any offer thoroughly before feeding into fraudulent activities.
  • Workers' compensation fraud is a form of insurance fraud where an employer or a worker defrauds a workers' compensation system. It is done by either making a false insurance claim, failing to report an injury, or exaggerating an injury to obtain benefits. It is a crime that affects businesses and their employees, with the employee often paying higher premiums and affected businesses having to absorb higher costs. Workers' compensation fraud can be committed by employees, employers, insurance carriers, medical providers and attorneys. Any attempts to manipulate the system for financial gain can be considered fraudulent and criminal.
  • The World Bank Group (WBG) is an international financial institution that supports development and poverty reduction in developing countries. It offers a variety of services to support countries in their efforts to reduce poverty and promote development. These services include loans, grants, and technical assistance. The WBG has five core organizations that work together to achieve its goals. These organizations are the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID). The WBG also works with partners to combat money laundering and foster greater financial transparency. The WBG strives to end extreme poverty and promote shared prosperity among all people and countries through its various activities.
  • A worm is a malicious program that replicates itself over a network or system, in order to cause damage or spread to other systems. It is typically an automated process that relies on the security vulnerabilities of a system to spread both internally and externally to other computers. The payload of a worm can contain malicious code or malicious scripts. Worms can be used to spread malware, viruses, or Trojans, as well as to steal data and perform distributed denial-of-service (DDoS) attacks. It can save copies of itself to other computers on the same network, or propagate itself through email or other means, and can cause significant damage to systems by deleting files, reformatting hard drives, or introducing malicious code to the system.
  • Write-Off Schemes are an unlawful form of fraud in which an individual or group of individuals deliberately attempt to hide or disguise the fact that some or all of their income, debts, or asset value has been reduced or removed from the books. This is usually done to evade taxation, and sometimes involves creating transactions or documents that make it look as though the income has been lost or used. Such schemes are illegal under domestic and international law and they can have serious financial and legal repercussions. In some cases, individuals or businesses may also face criminal charges.
  • A zero day attack is a malicious cyber attack that exploits software vulnerabilities before the patch or security updates have been released. It is considered one of the most dangerous threats to a system because the attacker may have access to an unpatched system for an extended period of time. Zero day attacks can occur in any software application, operating system, or hardware device if proper security controls are not in place. To prevent these attacks, it is important to stay up-to-date on all security updates, patching, and implementing effective security solutions. As a cybersecurity expert, it is my responsibility to stay vigilant and ensure that the necessary precautions are taken to protect against zero day attacks.
  • A zero-day attack is a type of cyberattack for which there is no existing defense. It exploits a vulnerability in software or hardware prior to its being discovered and patched. The name comes from the fact that the developer of the software or hardware has had zero days to fix the vulnerability. The potential damage that can be caused by a zero-day attack can be serious, and they are difficult to detect and prevent. The best defense against zero-day attacks is to continuously monitor for vulnerabilities and apply patches or updates once they become available. Additionally, organizations should implement procedures that require frequent updates and security reviews of their systems and networks.
  • A zero-day exploit is a type of attack in which a malicious actor exploits a software vulnerability that has yet to be patched by the vendor. It is also known as a zero-day vulnerability, as the day a software vulnerability is discovered is counted from the day it is patched by the vendor. The attacker then uses the vulnerability to gain access to a system, or to execute malicious code. It can be used to take control of a system, steal data, or cause damage to hardware or software. Common zero-day threats include malware, ransomware, and other forms of malicious code. Security teams must be vigilant in identifying, patching, and mitigating zero-day threats before they can be exploited.
  • Zero-Touch Provisioning (ZTP) is a streamlined approach to the provisioning of IT infrastructure. It automates the deployment and configuration process by using scripts or applications sent from a central server or another device within a network. ZTP eliminates the need for manual intervention, providing large-scale IT deployments with a tremendous time and cost savings. It works by either pre-loading the configuration onto a device or sending a configuration file to the device upon boot-up. This allows a device to be automatically provisioned when the system is powered on with the necessary settings and configurations already established. Removal of manual process helps to keep the entire process secure, reducing the chance of human error or malicious behavior that could lead to a security breach. ZTP also allows for quick recovery times in the event of a security breach, as the system can easily be re-configured and put back into service quickly.
  • Zombie is a term used in cybersecurity to describe an infected computer system or device that has been compromised by hackers or malware and is used to send spam or malicious attacks without the knowledge or permission of its owner. The zombie system is used as part of a botnet and can be controlled remotely by the hacker. A zombie system can include a computer, a mobile device, or any other device with an Internet connection. Zombie systems can be used for many criminal activities such as DDoS attacks, email spam, and stealing data. To protect yourself, you should always keep your operating system and other software up to date and use a strong firewall.

Explore the World of Fraud Detection and Prevention with Fraud Terms Dictionary

The methods of financial fraud are constantly evolving, making it essential for businesses and individuals to stay informed about the terminology used in fraud detection and prevention. Our Fraud Terms Dictionary is a comprehensive resource designed to assist you in comprehending the intricate world of fraud by providing clear explanations and definitions for key terms and concepts.

As the finance sector faces new challenges and risks, it’s essential to stay informed about the various types of fraud, techniques utilized by fraudsters, and effective prevention methods. Our Fraud Terms Dictionary covers a wide range of topics, from identity theft and phishing to transaction monitoring and data encryption, allowing users to familiarize themselves with these concepts and fight against potential threats.

In this digital age, fraudsters employ increasingly sophisticated strategies, making it imperative for businesses and individuals to remain vigilant and up-to-date on fraud detection and prevention practices. By using our Fraud Terms Dictionary, you can better understand the terminology and concepts associated with this critical aspect of the financial industry, empowering you to make informed decisions and protect yourself and your clients from fraudulent activities.

Our Fraud Terms Dictionary is continuously updated to reflect the latest trends and changes in the world of fraud detection and prevention, ensuring its value as an essential resource for anyone looking to combat the growing threat of financial fraud.

Discover the diverse terminology in the realm of fraud detection and prevention by exploring our Fraud Terms Dictionary—a crucial tool for safeguarding your business and maintaining a secure financial environment for all.