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A parser is a software component that takes input data (often text) and builds a data structure – typically some form of parse tree, abstract syntax tree, or other hierarchical structure – giving a structural representation of the input while checking for correct syntax.
Pay Link is a digital payment solution that allows businesses and individuals to send and receive payments through a secure, shareable link. This service simplifies transactions by enabling users to generate a unique URL that can be shared via email, text, or social media, facilitating quick and easy payment processing without the need for complex integrations or additional software.
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment.
The Payment Card Industry Security Standards Council (PCI SSC) is a global organization founded in 2006 by major credit card companies, including Visa, MasterCard, American Express, Discover, and JCB. Its primary mission is to develop, enhance, and promote security standards and resources for the protection of cardholder data.
Payment fraud refers to any type of illegal or unauthorized transaction conducted by a cybercriminal or fraudster to steal money or sensitive financial information. This can include activities such as credit card fraud, identity theft, phishing scams, and fraudulent chargebacks.
PISP, or Payment Initiation Service Provider, is a type of financial service that allows third-party providers to initiate payments directly from a user's bank account with their consent. This service is part of the broader framework of Open Banking, which aims to increase competition and innovation in the financial sector by enabling secure and efficient access to banking services.
A Payment Service Provider (PSP) is a third-party company that facilitates online transactions between merchants and customers by providing a secure platform for processing payments. PSPs offer a range of services, including payment gateway integration, fraud detection, and multi-currency support, enabling businesses to accept various payment methods such as credit cards, digital wallets, and bank transfers.
The Payment Services Directive 2 (PSD2) is a European Union regulation that came into effect in January 2018, aimed at enhancing innovation, competition, and security in the financial services sector. It mandates banks to open their payment services and customer data to third-party providers through open APIs, fostering the development of new payment solutions and services.
Peer-to-Peer (P2P) is a decentralized network model where each participant, or "peer," has equal privileges and can initiate or complete transactions directly with other peers without the need for a central authority or intermediary. This architecture is commonly used in file-sharing systems, cryptocurrency networks, and collaborative platforms, allowing for efficient resource sharing, enhanced privacy, and increased resilience against failures or censorship.
Personally Identifiable Information (PII) refers to any data that can be used to identify a specific individual. This includes information such as names, addresses, phone numbers, social security numbers, email addresses, and biometric data.
A Person of Significant Control (PSC) is an individual or entity that holds significant influence or control over a company. This typically includes those who own more than 25% of the company's shares or voting rights, have the power to appoint or remove a majority of the board of directors, or otherwise exercise significant influence or control over the company.
A phishing scam is a fraudulent attempt to obtain sensitive information such as usernames, passwords, and credit card details by disguising oneself as a trustworthy entity in electronic communications.
Pig Butchering is a term used to describe a type of online scam where fraudsters build a relationship with their victims over time, often through social media or dating apps, before convincing them to invest in fake cryptocurrency schemes or other fraudulent financial opportunities.
The placement stage of money laundering is the initial phase in the process of disguising illegal proceeds. During this stage, illicit funds are introduced into the financial system, often through methods such as depositing small amounts into bank accounts, purchasing assets, or using front businesses.
A Politically Exposed Person (PEP) is an individual who holds or has held a prominent public position, such as a government official, senior executive in a state-owned enterprise, or a high-ranking political party member.
A Politically Exposed Persons (PEP) Risk Assessment is a process used by financial institutions and other organizations to identify and evaluate the potential risks associated with doing business with individuals who hold or have held prominent public positions.
A Ponzi scheme is a fraudulent investment scam that promises high returns with little risk to investors. It generates returns for earlier investors using the capital from newer investors, rather than from profit earned by the operation of a legitimate business.
Predicate crime refers to a criminal offense that is a component of a larger, more complex crime, often serving as a basis for further criminal activities. For example, in the context of money laundering, a predicate crime could be drug trafficking, fraud, or embezzlement, which generates the illicit funds that are subsequently laundered. Identifying and prosecuting predicate crimes is crucial for dismantling broader criminal enterprises and preventing further illegal activities.
A Preferential Trade Agreement (PTA) is a trade pact between countries that provides for reduced tariffs or other trade barriers on certain products from the participating nations. Unlike free trade agreements, PTAs do not eliminate all tariffs but offer preferential access to specific goods, fostering increased trade and economic cooperation among the member countries.
Pretty Good Privacy (PGP) is an encryption program that provides cryptographic privacy and authentication for data communication. Developed by Phil Zimmermann in 1991, PGP is used to secure emails, files, and other forms of digital communication by encrypting the content, ensuring that only intended recipients can read it.
Private banking is a personalized financial service offered by banks to high-net-worth individuals (HNWIs). It provides tailored financial solutions, including wealth management, investment advice, estate planning, and tax optimization.
A private key is a cryptographic tool used in encryption and decryption processes to ensure secure communication and data protection. It is a secret, randomly generated string of characters that is used in conjunction with a public key in asymmetric encryption systems.
POCA, or Proceeds of Crime Act, is a legislative framework designed to combat money laundering and other financial crimes by allowing authorities to confiscate assets and profits obtained through illegal activities. The act provides law enforcement agencies with the tools to trace, freeze, and seize criminal proceeds, thereby disrupting the financial incentives that drive criminal enterprises.
The Proliferation Control Plan (PCP) is a strategic framework designed to prevent the spread of weapons of mass destruction (WMD) and related technologies.
Proliferation Financing refers to the financial support provided for the development, acquisition, and proliferation of weapons of mass destruction (WMDs) and their delivery systems.
Proliferation financing (PF) refers to the provision of funds or financial services that are used to support the development, acquisition, or proliferation of weapons of mass destruction (WMD) and their delivery systems.
Proof of Address is a document or set of documents used to verify an individual's residential address. Common examples include utility bills, bank statements, lease agreements, or official government correspondence.
Pump and Dump is a fraudulent investment scheme where the price of a stock or cryptocurrency is artificially inflated ("pumped") through false, misleading, or exaggerated statements. Once the price has been driven up, the perpetrators sell off their holdings at the inflated prices, leading to a sharp price decline ("dump"), and leaving other investors with significant losses.
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