Debit Card
A card that permits an account holder to draw funds from an existing account. Debit cards are used to pay obligations or make purchases. Debit cards can be used in a variety of places, including on the internet. Debit cards often allow for movement of cash via cash-back transactions or withdrawals at ATMs.
Designated Categories of Offense
Those crimes considered by FATF to be money-laundering predicate offenses. Each country can separately decide how it will define specific offenses and their elements under its own domestic laws. Many nations do not specify which crimes can serve as predicates for laundering prosecutions and merely state that all serious felonies may be predicates.
Designated Non-Financial Businesses and Professions
FATF recommends certain standards apply to non-financial businesses and professions, including specifically:
  • Casinos (including Internet casinos).
  • Real estate agents.
  • Dealers in precious metals and precious stones.
  • Lawyers, notaries, other independent legal professionals and accountants. (Note that this refers to those who prepare or carry out certain duties on behalf of clients.)
  • Trust and company service providers who prepare or carry out certain duties on behalf of their clients
Domestic Transfer
Electronic funds transfer in which the originator and beneficiary institutions are located in the same jurisdiction. A domestic transfer therefore refers to any chain of wire transfers that takes place entirely within the borders of a single jurisdiction, even though the actual system used to send the wire transfer may be located in another jurisdiction or online.