Value Transfer Service
See Money Transfer Service.
Vienna Convention
Convention in 1988 against the Illicit Trade in Narcotic Drugs and Psychotropic Substances. Countries that become parties to the Vienna Convention commit to criminalizing drug trafficking and associated money laundering, and enacting measures for the confiscation of the proceeds of drug trafficking. Article III of the Convention provides a comprehensive definition of money laundering, which has been the basis of much subsequent national legislation.
Virtual Currency
A medium of exchange that operates in the digital space that can typically be converted into either a fiat (e.g., government issued currency) or it can be a substitute for real currency.