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Backtesting

Backtesting is a financial analysis process used to evaluate the effectiveness of a trading strategy or model by applying it to historical market data. This method helps traders and analysts assess how a strategy would have performed in the past, providing insights into its potential future performance.

Bankers' Automated Clearing Services (BACS)

Bankers' Automated Clearing Services (BACS) is a UK-based electronic system that facilitates the transfer of funds between banks. It is commonly used for processing direct debits and direct credits, such as salary payments, pensions, and other regular financial transactions.

Bank For International Settlements (BIS)

The Bank for International Settlements (BIS) is an international financial institution that serves as a bank for central banks, promoting global monetary and financial stability.

Bank Identifier Code (BIC)

The Bank Identifier Code (BIC) is an international standard used to uniquely identify banks and financial institutions worldwide. It is an 8 or 11-character code that facilitates secure and efficient communication and transactions between banks, particularly in international transfers.

Banking As A Service (BaaS)

Banking as a Service (BaaS) is a financial technology model that enables third-party companies, such as fintech firms or non-banking businesses, to offer banking services by integrating with traditional banks' infrastructure via APIs.

Banking Secrecy Regulation

Banking Secrecy Regulation refers to the legal framework that governs the confidentiality of client information held by financial institutions. These regulations are designed to protect the privacy of individuals and businesses by restricting the disclosure of their financial data without consent.

Bank of England (BOE)

The Bank of England (BOE) is the central bank of the United Kingdom, established in 1694. It is responsible for issuing currency, maintaining monetary stability, and overseeing the country's financial system. The BOE sets interest rates to control inflation and support economic growth, and it acts as a lender of last resort to the banking sector.

Bank Secrecy

Bank secrecy refers to the legal principle and practice that ensures the confidentiality of clients' financial information held by banks.

Bank Secrecy Act (BSA)

The Bank Secrecy Act (BSA), enacted in 1970, is a U.S. law designed to combat money laundering and other financial crimes. It requires financial institutions to maintain records and file reports on certain transactions, particularly those exceeding $10,000, to help detect and prevent illegal activities.

Bar Council

The Bar Council is a professional body responsible for regulating and representing barristers, who are specialist legal advocates, in certain jurisdictions. It ensures the maintenance of professional standards, provides guidance and support to its members, and works to uphold the rule of law and access to justice.

Basel Committee on Banking Supervision

The Basel Committee on Banking Supervision (BCBS) is an international regulatory body that formulates broad supervisory standards and guidelines for banks. Established by the central bank governors of the Group of Ten (G10) countries in 1974, the committee aims to enhance financial stability by improving the quality of banking supervision worldwide.

Batch Processing

Batch processing in data refers to the execution of a series of tasks or transactions on a large volume of data as a single group or "batch." This approach is typically used when the data processing does not need to occur in real-time and can be scheduled to run at specific intervals.

Behavioral Biometrics

Behavioral biometrics refers to the identification and verification of individuals based on their unique patterns of behavior. Unlike traditional biometrics, which rely on physical characteristics like fingerprints or facial features, behavioral biometrics analyze actions such as typing rhythm, mouse movements, gait, and even voice patterns.

Beneficial Owner

A beneficial owner is an individual or entity that ultimately owns, controls, or benefits from an asset, property, or company, even if the title or legal ownership is in another name.

Beneficial Ownership

Beneficial Ownership refers to the rights and privileges of ownership over an asset or property, even if the title is in another name. A Beneficial Owner is the individual or entity that ultimately benefits from or has control over an asset, such as shares in a company, despite not being the nominal owner. This concept is crucial in financial and legal contexts to ensure transparency, prevent fraud, and combat money laundering by identifying the true individuals who hold significant influence or control over an entity.

Blacklist

Blacklist refers to a list of individuals, entities, or items that are denied access, privileges, or recognition due to specific reasons such as security concerns, non-compliance, or misconduct. This list is used in various contexts, including cybersecurity, finance, and employment, to prevent unauthorized or undesirable actions.

Black Market Peso Exchange

The Black Market Peso Exchange (BMPE) is an underground financial system primarily used in Latin America, particularly Colombia, to launder money derived from illegal activities such as drug trafficking. In this scheme, drug traffickers sell their U.S. dollars to brokers at a discounted rate.

Blockchain Analysis

Blockchain Analysis refers to the process of examining, interpreting, and visualizing data on blockchain networks. This involves tracking transactions, identifying patterns, and understanding the flow of digital assets to uncover insights, detect fraudulent activities, ensure regulatory compliance, and enhance security.

Blockchain Analytics

Blockchain analytics refers to the process of examining, interpreting, and visualizing data on blockchain networks. It involves using specialized tools and techniques to track transactions, monitor network activity, and gain insights into patterns and trends. This analysis helps in enhancing transparency, ensuring compliance, detecting fraudulent activities, and making informed decisions in various sectors such as finance, supply chain, and cybersecurity.

Block List

A block list is a compilation of entities, such as email addresses, phone numbers, IP addresses, or user accounts, that are restricted or denied access to a particular service, platform, or network. This list is often used to prevent unwanted communication, enhance security, and protect against spam, fraud, or other malicious activities.

Bureau Of Industry And Security (BIS)

The Bureau of Industry and Security (BIS) is a U.S. government agency within the Department of Commerce. It is responsible for advancing national security, foreign policy, and economic objectives by regulating the export of sensitive goods, technologies, and software.

Business Continuity (BC)

Business Continuity (BC) refers to the strategic and tactical capability of an organization to plan for and respond to incidents and disruptions in order to continue business operations at an acceptable predefined level.

Business Email Compromise (BEC)

Business Email Compromise (BEC) is a type of cybercrime where attackers use email fraud to target businesses, often with the goal of tricking employees into transferring money or revealing sensitive information.

Business Risk Management System (BRMS)

A Business Risk Management System (BRMS) is a structured framework designed to identify, assess, and mitigate risks that could potentially impact an organization's operations and objectives. It integrates risk management practices into business processes, enabling companies to proactively address uncertainties and minimize potential threats.

Business Rule

A Business Rule is a specific, actionable directive or guideline that defines or constrains some aspect of business operations.

Business Rules Management System

A Business Rules Management System (BRMS) is a software solution designed to define, deploy, monitor, and maintain the complex decision logic used by an organization. It allows businesses to automate decision-making processes by managing and executing business rules, which are the specific conditions and actions that guide business operations.

Buy Now

Buy Now is a call-to-action phrase commonly used in marketing and e-commerce to prompt customers to make an immediate purchase. It is designed to create a sense of urgency and encourage quick decision-making by highlighting the availability of a product or service for immediate acquisition.

Buy Now Pay Later (BNPL)

Buy Now Pay Later (BNPL) is a financial service that allows consumers to purchase goods or services immediately and pay for them over time through a series of interest-free installments. This payment option is often integrated into online and in-store checkout processes, providing a flexible alternative to traditional credit cards.