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Money Laundering

The process of concealing the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses.

Export Controls

Government regulations that restrict the shipment of certain goods, software, and technology to foreign countries, often for national security or foreign policy reasons.

Sanctions

Penalties or restrictions imposed by one country on another, or on specific individuals or entities, typically to achieve foreign policy or national security objectives. These can include financial restrictions, trade embargoes, or travel bans.

Jurisdiction of Primary Money Laundering Concern

A designation by the U.S. Treasury Department indicating a foreign financial institution or jurisdiction is significantly involved in international money laundering, potentially leading to special financial measures.

National Security Law of Hong Kong

A law imposed by the People's Republic of China on Hong Kong that criminalizes acts of secession, subversion, terrorism, and collusion with foreign forces, with broad implications for civil liberties and autonomy.

Know-Your-Customer (KYC) Procedures

A set of regulations and procedures used by financial institutions to verify the identity of their clients and assess their suitability, along with the potential risks of illegal intentions, for maintaining the banking relationship.