International Payments Acronyms
The ABCs of international payments can be confusing. This list of frequently used acronyms can help you sort out AML to XML. For additional information, see:
Frequently Asked Questions International Payments Glossary IAT Resource Center
Acronyms
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AML/BSA: Anti-Money Laundering/Bank Secrecy Act BIC: Bank Identification Code BIS: Bank for International Settlement BSA: Bank Secrecy Act of 1970 CHIPS: Clearing House Interbank Payments System FATF: Financial Action Task Force FinCen: Financial Crimes Enforcement Network FGO: Foreign Gateway Operator FX: Foreign Exchange GO: Gateway Operator IAT: International ACH Transaction IBAN: International Bank Account Number ISO: International Standards Organization KYC: Know Your Customer |
OECD: Organization for Economic Co-operations and Development OFAC: Office of Foreign Assets Control PE-ACH: Pan European ACH RTGS: Real Time Gross Settlement SDN: Specially Designated National (FTO: Foreign Terrorist Organization; SDNT: Specially Designated Narcotics Traffickers) SEPA: Single Euro Payments Area STP: Straight Through Processing SWIFT- Society for Worldwide Interbank Financial Telecommunication USA PATRIOT ACT : Uniting and Strengthening America by Providing Appropriate Tools to Intercept and Obstruct Terrorism Act of 2001 UN/CEFACT: United Nations Centre for Trade Facilitation and Electronic Business XML: eXtensible Mark-up Language |
