CIP is a mandatory program for verifying customer identities in financial institutions. Mandated by regulations like Bank Secrecy Act and USA Patriot Act. Aims to prevent fraud, money laundering, and terrorist financing
ACAMS is the world's largest AML organization with over 20,000 members. CAMS exam is considered the gold standard in AML certification. Membership provides access to online courses and educational resources
UBO is the ultimate owner or control of a company or legal entity. Identification is mandatory for financial institutions under AML regulations. Failure to identify UBOs creates opportunities for money laundering
FATF was established in 1989 by the G7 to combat money laundering. The organization has grown from 16 members to 40 as of 2023. The FATF Secretariat is located at the OECD in Paris
FATF was established in 1989 by the G7 to combat money laundering and terrorism financing. Comprises 39 member countries and nine regional bodies worldwide. Treasury serves as U.S. Head of Delegation, led by Deputy Assistant Secretary Scott Rembrandt
Founded in 1851 as New York and Mississippi Valley Printing Telegraph Company. Completed first transcontinental telegraph in 1861, sending messages to Lincoln. Dominated American telegraphy industry from 1860s to 1980s. Acquired competitors in 1866, launching wire money transfer in 1871