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KYC KNOWLEDGE

KYC GLOSSARY AND ABBREVIATIONS

THE MOST IMPORTANT KYC BRIEFLY EXPLAINED

  • 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)
  • 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)
  • 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 gazzette 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)

WOULD YOU LIKE TO LEARN MORE ABOUT OUR KYC 4.0 TOOLBOX?

Find out in our Toolbox handbook how you can check your customers or suppliers standardized and fast.

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Address

KYC Spider AG
Gubelstrasse 11
CH-6300 Zug