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AML glossary of terms | Anti-Money Laundering (AML) definitions

AML glossary: Simple, clear definitions of 81 key compliance terms

Cut through the jargon with our clear, actionable explanations of key AML terms. Each definition is designed for UK compliance professionals who need straightforward answers without the fluff.

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A complete guide to essential AML compliance definitions.

Understanding AML terminology shouldn’t feel like wading through a sea of jargon. Whether you’re reviewing policies, training new staff, or responding to regulatory updates, clear definitions make life easier. 

This glossary breaks down key AML terms in a way that’s practical, relevant, and easy to apply. 

 Know what you’re looking for? Click the letter below to jump directly to the terms you’re interested in. 👇

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

A.

B.

  • Bank Secrecy Act (BSA)
  • Basel III
  • Beneficial Owner
  • Bribery Act 2010

C.

  • Cash intensive business
  • CDD (Customer Due Diligence)
  • CFT (Counter Financing of Terrorism)
  • Client screening
  • Companies House
  • Compliance audit
  • Compliance risk
  • Confiscation order
  • Counterfeit goods
  • Counter-Terrorism Act
  • Cross-border transactions
  • Cryptocurrencies
  • Cyber fraud
  • Cyber crime

D.

  • Data Protection Act 2018

E.

  • Economic crime
  • Electronic Funds Transfer (EFT)
  • Enhanced Due Diligence (EDD)
  • Enforcement action

F.

  • FCA (Financial Conduct Authority)
  • Financial Action Task Force (FATF)
  • Financial crime
  • Financial Intelligence Unit (FIU)
  • Financial penalties
  • Financial sanctions
  • Fraud Act 2006
  • Fraud detection

H.

  • High-risk customer
  • High-risk jurisdiction

I.

  • Identity theft
  • Information sharing
  • Insider fraud
  • Insider trading

J.

  • Joint Money Laundering Steering Group (JMLSG)

K.

  • Know Your Business (KYB)
  • KYC (Know Your Customer)

M.

  • MLRO (Money Laundering Reporting Officer)
  • Money laundering
  • Money Laundering Regulations (MLR)
  • Money mules

N.

  • National Crime Agency (NCA)

O.

  • Offshore accounts
  • Office of Financial Sanctions Implementation (OFSI)

P.

  • PEPs (Politically Exposed Persons)
  • Predicate offence
  • Proceeds of Crime Act 2002 (POCA)
  • Proliferation financing
  • Property Freezing Order (PFO)
  • Prudential Regulation Authority (PRA)

R.

  • Regulatory reporting
  • Remittance businesses
  • Risk assessment
  • Risk-based approach (RBA)

S.

  • Sanctions
  • Sanctions screening
  • Securities and Exchange Commission (SEC)
  • Serious Organised Crime Agency (SOCA)
  • Solicitors Regulation Authority (SRA)
  • Source of funds
  • Source of wealth
  • Structuring
  • Suspicious Actvity Report (SAR)

T.

  • Terrorism Act 2000
  • Terrorist financing
  • Third party risk

U.

  • UK Money Laundering Regulatons
  • Unexplained Wealth Orders (UWOs)
  • Ultimate Beneficial Owner (UBO)

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