Glossary

Financial Forensics Cheat Sheet

Understanding key terms and concepts is crucial for professionals in financial investigations, whether you're an attorney, forensic accountant, or employed by government agency. This glossary provides a quick-take snapshot of common terms you can easily access, covering essential topics in the field. From Verified Financial Intelligence (VFI) and data visualization tools to roles like trustee and forensic accountant, and crucial concepts in fraud, family law, bankruptcy, and regulatory compliance, this list of terms is here to help you navigate the complex landscape of financial investigations with confidence.

Terms

AI (Artificial Intelligence)

Basic Money Laundering Provision

Currency or Monetary Instruments Reports (CMIR)

Data Extraction

Data Verification

Data visualization tools

Diligence

Electronic Automated Clearing House (ACH)

Embezzlement

Equitable Distribution

Even $ Check Analysis

Fiduciary

FinTech (Financial Technology)

Financial Background Investigation

Financial Evidence

Financial Institutions

Financial Litigation

Financial Obfuscation

Forensic Accountants

Forensic Analysis

Fraudulent Transfer

Gaming Commission Licensing

Hidden Assets

Independent verification

Insolvency

International Money Laundering Provision

Joint Assets

Lifestyle Analysis

Litigation

MICR (Magnetic Ink Character Recognition)

Marital Waste

Medicaid/Medicare Fraud

Misappropriation

Money Laundering Conspiracy

OCR (Optical Character Recognition)

Open-Source Intelligence (OSINT)

Regulatory Compliance

Small Business Administration (SBA)

Software as a Service (SaaS)

Unlicensed Money Transmitting Businesses

Verified Financial Intelligence (VFI)

Verified Financial Intelligence (VFI) platform [by Valid8]

Unlicensed Money Transmitting Businesses

Title 18 U.S.C § 1960 (b)(2) defines “money transmitting” to include transferring funds on behalf of the public by any and all means, including but not limited to transfers within this country or to locations abroad by wire, check, draft, facsimile, or courier.

Title 31 U.S.C § 5330 (d)(1), which creates the FinCEN registration requirements, defines a Money Transmitting Business as any business other than the U.S. Postal Service that:

Provides check cashing, currency exchange, or money transmitting or remittance services, or issues or redeems money orders, travelers’ checks, and other similar instruments or any person who engages as a business in the transmission of fund, including any person who engages as a business in an informal money transfer system or any network or people who engage as a business in facilitating the transfer of money domestically or internationally outside the conventional financial institutions system.
Is required to file currency transaction reports under 31 U.S.C § 5313; and
Is not a depository institution.

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Unlicensed Money Transmitting Businesses

Title 31 U.S.C § 5330 (d)(1), which creates the FinCEN registration requirements, defines a Money Transmitting Business as any business other than the U.S. Postal Service that:

Provides check cashing, currency exchange, or money transmitting or remittance services, or issues or redeems money orders, travelers’ checks, and other similar instruments or any person who engages as a business in the transmission of fund, including any person who engages as a business in an informal money transfer system or any network or people who engage as a business in facilitating the transfer of money domestically or internationally outside the conventional financial institutions system.
Is required to file currency transaction reports under 31 U.S.C § 5313; and
Is not a depository institution.

The Glossary that keeps on giving…

As the field of financial investigations continues to evolve, staying updated with the latest terminology is crucial. We will be adding new terms to this glossary on an ongoing basis, so bookmark this page for easy return access! If you’d like to take the first step toward streamlining financial investigations, Valid8 can help you get there.

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Glossary

Financial Forensics Cheat Sheet

Terms

The Glossary that keeps on giving…

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