Biometrics is the unambiguous recognition of people based on their physical attributes (fingerprints, retinas, iris, face, etc.) or behaviour (signature, stride, or even typing), distinct and unmistakable. They do not change over time and are unaffected by external factors.

This method is comparable to the one that humans use to recognise and identify their peers based on their physical appearance, voice, or walking style.

Depending on the recognition system utilised, we may refer to voice biometrics, facial and eye recognition, among other things.

Bitcoin is a cryptocurrency that is exchanged using blockchain technology on a public online ledger that verifies and records the transactions. The integrity of the data underpinning the bitcoin system is maintained by’ miners’ who prove that the bitcoins have not already been spent elsewhere and incorporate the transactions into the blockchain in exchange for bitcoin fees. The blockchain technology that underpins bitcoin is open source.

A service that mixes or blends potentially identifiable cryptocurrency funds with others to obscure the origin and ownership of the funds. This process, also known as “tumbling,” involves pooling together bitcoins from multiple users and then redistributing them, making it difficult to trace the transaction history. Bitcoin mixers are often used to enhance privacy and anonymity, but they are also associated with money laundering and other illicit activities, making them a focus of AML/CFT regulations and enforcement efforts.

A blockchain is a digital ledger in which ‘blocks’ of transactions are publicly recorded and chronologically added to a chain of ever-growing records. The data is secure using cryptography and accessible by computers connected to ‘nodes’ on the network. It is shared with all participants and is resistant to modification because altering it requires the collusion of the network majority rather than a single centralised authority.

In the context of AML and CFT, a blocklist refers to a list of individuals, entities, countries, or jurisdictions identified as high-risk or sanctioned due to their involvement in illegal activities such as money laundering, terrorist financing, or other financial crimes.

Governments, enterprises, banks, and other entities make a written guarantee to repay a debt at a predetermined time and interest rate. Interest rates can be both variable and fixed.

A bonded warehouse is an authorised warehouse where customs agents keep and control goods. Its primary function is facilitating international trade by complying with customs regulations efficiently.

The stored goods may belong to the importer, exporter or an authorised third party known as a bonded warehouse keeper.

In addition to warehousing, bonded warehouses can offer additional services such as handling, packaging and transporting goods.

In the financial sector, “bullion” effectively refers to the content of precious metal in a bar, coin, round, or some other form. Bullion is most often discussed as raw metal, but it can also refer to metal that has been processed into an object, as in the case of a gold, silver, or platinum coin.

An organisation that provides goods, services or both to the community in exchange for money to become profitable.

All brokers, finders, dealers, resellers, distributors, teaming partners, joint venture partners, contractors, suppliers, consultants, agents and any other third party with whom an organisation does business.