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Wire Transfer Service Provider

A company or entity that helps people or businesses send money electronically, often across different locations or countries, like Western Union or digital apps.

Illicit Money Transfers

Sending or moving money that was gained from illegal activities, such as drug dealing, human trafficking, or terrorism.

Anti-Money Laundering Laws

Rules and regulations designed to stop criminals from hiding the origins of illegally obtained money by making it appear to come from legitimate sources.

Bank Secrecy Act

A federal law that requires financial institutions to help U.S. government agencies detect and prevent money laundering by keeping records and reporting suspicious activities.

Regulatory Oversight

The act of a government agency supervising or monitoring an industry or activity to ensure it follows laws and rules.

Non-bank Financial Institutions

Organizations that provide financial services but do not have a banking license, such as check cashers, money transmitters, or pawn shops.

Secretary of the Treasury

The head of the U.S. Department of the Treasury, responsible for the government's economic and financial policies.