CommsPliant Lexicon

CommsPliant Lexicon

Clear answers to the questions people actually ask about financial, compliance and regulatory terminology.

A

AML - Anti-Money Laundering The laws, controls and practical work used to prevent and detect money laundering and report suspected activity involving criminal proceeds.

C

Commercial Invoice An itemised bill showing what goods or services you are being charged for and how the total is worked out.
Counterparty The other side of every financial transaction — and every classification, risk model and control built around it.

K

KYC - Know Your Customer Understanding who a customer is, checking their identity and keeping that understanding relevant throughout the relationship.

S

U

UBO — Ultimate Beneficial Owner The individual who ultimately owns or controls a company, including through other companies or arrangements.