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Pay Link

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.

Payment Fraud

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.

Payment Initiation Service Provider (PISP)

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.

Payment Service Provider (PSP)

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.

Payment Services Directive 2 (PSD2)

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.

Person Of Significant Control (PSC)

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.

Politically Exposed Person (PEP)

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.

Ponzi Scheme

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

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.

Preferential Trade Agreement (PTA)

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)

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 Key

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.

Proceeds of Crime Act (POCA)

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.

Proliferation Financing

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)

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

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

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.