In this document:
Abbreviation | Definition |
AML/CFT/PF | Anti-Money Laundering Countering the Financing of Terrorism and Proliferation Financing |
AML laws | Proceeds of Crime Act, 2018; Financial Transactions Reporting Act, 2018; Financial Intelligence Unit Act, 2000; Anti-Terrorism Act, 2018; Financial and Corporate Service Providers Act, 2000; and associated regulations and guidelines |
Cash | Coins, paper money, travelers’ cheques, money orders, cryptocurrency, and bearer currency instruments |
Client/customer | Current or prospective user of the company’s services |
The Company | Easyterms Ltd., affiliates, subsidiaries, partners, directors, officers, and employees |
Corporate person | Legal entity including corporations, partnerships, trusts, foundations, etc. |
Eligible introducer | Bahamian or foreign Financial Institutions meeting specific criteria |
FATF | Financial Action Task Force |
Facility | Service provided by a financial/corporate service provider or Financial Institution to a client |
Facility holder | Client or authorized person in relation to transactions through a facility |
FI/FI | Financial Institution regulated by specific laws |
FIU | Financial Intelligence Unit |
FIUA | Financial Intelligence Unit Act, 2000 and associated regulations |
FCSPA | Financial and Corporate Service Providers Act, 2000 and associated regulations |
FTRA | Financial Transactions Reporting Act, 2018 and associated regulations |
The Inspector | Designated inspector under the FCSPA, 2000 |
KYC | Know Your Client measures |
The Law of the Bahamas | All laws, regulations, and amendments in The Bahamas |
MLRO | Money Laundering Reporting Officer |
Policy and Procedure Manual | Document including appendices, forms, and referred documents |
POCA | Proceeds of Crime Act, 2018 and associated regulations |
PEP | Politically Exposed Person |
Personnel | Partners, directors, officers, employees, excluding certain providers |
Regulators | Government authorities responsible for enforcing rules |
SCB | Securities Commission of the Bahamas |
STR | Suspicious Transaction Report |
The Rules, 2019 | Financial and Corporate Service Providers Anti-Money Laundering and Countering the Financing of Terrorism Rules, 2019 |