KYC and compliance glossary

AML stands for Anti Money Laundering
API stands for Application Programming Interface
CDD stands for Customer Due Diligence
ComplianceTech stands for technological aids that simplify your compliance tasks
EAR stands for Export Administration Regulations
EDD stands for Enhanced Due Diligence Report
FINMA stands for financial market supervision (regulatory organisation for the Swiss financial centre)
FinTech (or Fintech) stands for technological tools, platforms or companies that offer digital financial solutions
GKG stands, in Switzerland, for Goods Control Act (Güterkontrollgesetz)
GKV stands, in Switzerland, for Goods Control Regulation (Güterkontrollverordnung)
GmeR stands for business relations with increased risks (Geschätsbeziehungen mit erhöhten Risiken)
GWG stands, in Switzerland, for Money Laundering Act (Geldwäschereigesetz)
ICO stands for Initial Coin Offering and is an unregulated method of crowdfunding
ICP stands for Internal Compliance Program
ITAR stands for International Traffic in Arms Regulations
KMG stands, in Switzerland, for War Material Act (Kriegsmaterialgesetz)
KMV stands, in Switzerland, for War Material Ordinance (Kriegsmaterialverordnung)
KYB stands for Know Your Business (legal person)
KYC stands for Know Your Customer or Know Your Client
KYE stands for Know Your Employee
KYS stands for Know Your Supplier
KYP stands for Know Your Peers
LegalTech stands for technological aids/companies, which should simplify the handling of your legal tasks
OFAC stands for Office of Foreign Assets Control
OPEC stands for Organization of the Petroleum Exporting Countries
PEP stands for Political Exposed Person
RegTech stands for technological aids/companies which should simplify the handling of your regulatory tasks
SDD stands for Simplified Due Diligence
SHAB stands for "Schweizer Handselsamtsblatt", the federal gazette of trade
SECO stands, in Switzerland, for State Secretariat for Economic Affairs (Staatssekretariat für Wirtschaft)
SRO stands for Self Regulated Organisation
STO stands for Secure Token Offering
TGE stands for Token Generating Event
UBO stands for Ultimate Beneficial Owner
UNO stands for United Nations Organisations
VQF stands, in Switzerland, for Association for Quality Assurance of Financial Services (Verein zur Qualitätssicherung von Finanzdienstleistungen)

KYC GLOSSARY AND ABBREVIATIONS

THE MOST IMPORTANT KYC AND COMPLIANCE TERMS BRIEFLY EXPLAINED

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