Terms related to the legal and regulatory framework within which banks operate.
anti-money laundering (AML) – laws and regulations designed to prevent illegal funds from entering the financial system.
know your customer (KYC) – policies requiring banks to verify the identity of their clients.
compliance – adherence to laws, regulations, and guidelines.
financial regulation – laws governing the operation of financial institutions.
audit – an official inspection of an organization's accounts.
risk assessment – identifying and evaluating potential risks.
regulatory body – an organization responsible for enforcing regulations.
regulatory capital – the mandatory capital that banks are required to hold.
data protection – safeguarding personal data from unauthorized access or disclosure.
Jakub Marian
Jakub Marian