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Friday, December 13, 2019
Financial Intelligence Unit of Barbados

Glossary

Below are some of the common abbreviations found in the Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) field and in Barbados’ AML-CFT regime. 

AML/CFT – Anti-Money Laundering /Counter-Financing of Terrorism
AMLA – Anti-Money Laundering Authority
APG – Asia Pacific Group
ATA – Anti-Terrorism Act
ATAA – Anti-Terrorism (Amendment) Act, 2015-28 (AT(A)A)
BNI – Bearer negotiable instruments
BO – Beneficial Ownership
BRA – Barbados Revenue Authority
CAIPO – Corporate Affairs and Intellectual properties office
CBB – Central Bank of Barbados CBB
CDD – Customer Due Diligence
CFATF – Caribbean Financial Action Task Force
CHA – Charities Act CAP 243
CHAA – Charities (Amendment) Act 2010-12
CMPA – Corporate (Miscellaneous Provision) Act, 2015
COMPA – Companies Act, Cap. 308
COMPAA – Companies Amendment Act 2011-8
CSA – Cooperatives Societies Act CAP 378A
CTSPA – Corporate Trust and Service Providers Act, 2015
DAPCA – Drug Abuse (Prevention and Control) Act Cap 130
DNFBPs – Designated Non-Financial Business Persons
DPP – Director of Public Prosecutions
EA – Extradition Act, CAP 189
EAG – Eurasian Group
ECA – Exchange Control Act
EG – Egmont Group
EIA – Exempt Insurance Act CAP 308A
EIAA – Exempt Insurance (Amendment) Act Cap. 170
ESAAMLG – Eastern and South African Anti-Money Laundering Group
FATF – Financial Action Task Force
FCIU – Financial Crimes Investigations Unit
FIA – Financial Institutions Act CAP. 324A
FIU – Financial Intelligence Unit
FSAP – Financial Sector Assessment Programme
FSC – Financial Services Commission
FSRB-FATF – Style Regional Body
GAFISUD – Financial Action Task Force of South America
IBCA – International Business Companies Act CAP 77
IBCAA -International Business Companies (Amendment) Act
IBD – International Business Division
IFSA – International Financial Services Act Cap 324A
IFSAA – International Financial Services (Amendment) Act
INSA – Insurance Act CAP 310
ITA – International Trusts Act CAP 245-1
KYC – Know Your Customer
KYCC – Know Your Customer’s Customer
KYE – Know Your Employee
MACMA – Mutual Assistance in Criminal Matters Act – CAP 140A
MENAFATF – Middle East and North Africa Financial Action Task Force
MEVAL – Mutual Evaluation
MLAT-Mutual Legal Assistance Treaty
MLFTA – Money Laundering and Financing of Terrorism (Prevention and Control) Act
MLRO – Money Laundering Reporting Officer
MONEYVAL – Council of Europe Select Committee of Experts on the Evaluation of Anti-Money Laundering Measures
MOU – Memorandum of Understanding
MSBs – Money Service Businesses
MVTs – Money or Value Transfer Services
NCCT – Non-Cooperative Countries and Territories
NRA – National Risk Assessment
OFAC – Office of Foreign Assets and Control
OGBS – Offshore Group of Banking Supervisors
ORE – Overseas responses
OSFI – Office of the Superintendent of Financial Institutions
PEP – Politically Exposed Person
PF – Proliferation Financing
RBPF – Royal Barbados Police Force
RSS – Regional Security System
SAR – Suspicious Activity Report
STR – Suspicious Transaction Report
SWRL- 2012 Societies with Restricted Liability Act (No.2) Act, 2012
SWRLA – Societies with Restricted Liability Act, Cap 318B
TF – Terrorism Financing
TFS- Targeted Financial Sanctions
TOCPCA – Transnational Organized Crime (Prevention and Control) Act
WMD – Weapons of mass destruction