{"version":"1.0","provider_name":"YourAdn","provider_url":"https:\/\/www.youradn.com\/en\/","title":"Glossary - YourAdn","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"gwA050XE6E\"><a href=\"https:\/\/www.youradn.com\/en\/glossary\/\">Glossary<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www.youradn.com\/en\/glossary\/embed\/#?secret=gwA050XE6E\" width=\"600\" height=\"338\" title=\"&#8220;Glossary&#8221; &#8212; YourAdn\" data-secret=\"gwA050XE6E\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script>\n\/*! 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Senior Executive: a director or general manager or other employee delegated by the management body or the general manager to manage relationships with high-risk customers; the senior manager has adequate knowledge of the level of money laundering risk to which the recipient is exposed and has sufficient autonomy to make decisions that can impact this level of risk. Risk-based approach: It indicates an approach whereby competent authorities and companies identify, assess and understand the money laundering risks to which companies are exposed and take countermeasures commensurate with those risks. Single Computer Archive (so-called AUI): an archive, created and managed using computer systems, in which all information acquired in fulfilling customer due diligence obligations is centrally stored, in accordance with the principles set forth in the Anti-Money Laundering Decree and the implementing provisions issued by the Regulators. Institutional activity: the activity for which the recipients have obtained registration or authorization from a Public Authority. Bank of Comodo: the bank (or financial intermediary performing bank-like functions) without a significant structure in the country in which it was incorporated and authorised to carry out its activities and not belonging to a financial group subject to effective supervision on a consolidated basis. Beneficiary of the insurance benefit: 1. the natural person or entity other than a natural person who, based on the designation made by the policyholder or the insured, is entitled to receive the insurance benefit paid by the insurance company;2. any natural person or entity other than a natural person to whom the payment is made by order of the designated beneficiary. Client\/Customer: the person who establishes ongoing relationships or carries out transactions with exchanges, financial intermediaries, and other entities carrying out financial activities, as well as with other recipients of the obligations set forth in the Anti-Money Laundering Decree, normally also identified with other terms, such as users, investors, insured persons, contractors, buyers, clients, etc. Compliance Risk: specific compliance required by a given regulation, to avoid incurring judicial or administrative sanctions, significant financial losses, or reputational damage as a result of violations of mandatory provisions (laws, regulations) or self-regulation (e.g., code of conduct, code of self-discipline). Freezing of funds: the prohibition, pursuant to EU regulations and national legislation, on the movement, transfer, modification, use, or management of funds and cryptocurrencies or tokens in general, or on access to them, thus altering their volume, amount, location, ownership, possession, nature, destination, or any other change that allows the use of the funds, including portfolio management. Freezing of economic resources: the prohibition, pursuant to EU regulations and national legislation, on the transfer, disposition, or use of economic resources for the purpose of obtaining funds, goods, or services in any manner, including, but not limited to, the sale, leasing, rental, or the creation of security interests.Correspondent current accounts and similar relationships: accounts held by banks for the settlement of interbank services and other relationships, however named, between credit institutions and financial institutions, used to settle transactions on behalf of the correspondent institutions&#8217; customers. Payables: cross-border correspondent banking relationships held between banking and financial intermediaries and exchanges, used to carry out transactions in one&#8217;s own name and on behalf of customers. Line controls (so-called &#8220;first-level controls&#8221;): the set of controls aimed at ensuring the proper execution of operations. They are carried out by the Operating Structures themselves (e.g., hierarchical, systematic, and random controls), including through units dedicated exclusively to control or monitoring tasks that report to the heads of the Operating Structures, or performed within the back office; where possible, they are incorporated into IT procedures. Risk and compliance controls (so-called \u201csecond-level controls\u201d): the set of controls that aim to ensure, among other things: \u2022 the correct implementation of the risk management process;\u2022 compliance with the operational limits assigned to the various functions;\u2022 compliance of company operations with regulations, including self-regulation. The functions responsible for these controls are distinct from the operational ones; they contribute to the definition of risk governance policies and the risk management process. Counterparty: natural and legal persons who establish a business relationship with the Exchange (even if they are not subject to the obligations set forth in the Anti-Money Laundering Decree). Cover Payment (or cover payment): a transfer of funds used when there is no direct relationship between the payment service provider (PSP) of the originator and the beneficiary and it is therefore necessary to use a chain of correspondent relationships between PSPs. A cover payment involves three or more PSPs. Cryptocurrency: A cryptocurrency is a virtual currency that, according to the Bank of Italy&#8217;s definition, is a digital representation of value and is used as a medium of exchange or held for investment purposes. Cryptocurrencies can be transferred, stored, or traded electronically. Typical examples include Bitcoin, LiteCoin, Ripple, Ethereum, Cardano, and Tron. Identification data of the Client, the Beneficial Owner, and the Executor: first and last name, place and date of birth, registered residence and, if different, domicile, and, if assigned, the Client&#8217;s tax code, and, where assigned, the Beneficial Owner and the Executor. In the case of entities other than natural persons, the name, registered office, and registration number in the company register or in the register of legal entities, if applicable. In both cases, at the time of payment of the service, the registered residence and, if different, domicile, and tax code of the Beneficiary and, where assigned, the Beneficiary and the Executor. Identification data of the Client, the Beneficial Owner, and the Executor: first and last name, place and date of birth, registered residence and, if different, domicile, and, if assigned, the Client&#8217;s tax code, and, where assigned, the Beneficial"}