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LEVERAGING DIGITAL ID AND E-KYC FOR THE FINANCIAL INCLUSION OF FORCIBLY DISPLACED PERSONS (FDPs): RISKS AND OPPORTUNITIES
GLOSSARY OF TERMS AND ABBREVIATIONS AML/CFT
Anti-Money Laundering and Countering the Financing of Terrorism - Policies, laws and regulations aimed at maintaining the integrity of the financial system by deterring and preventing the use of the financial system for illicit activities such as money laundering and terrorist financing.
ANRPTS
National Agency for the Register of Population and Securities (Mauritania)
Asylumseekers
Individuals who have sought international protection and whose claims for refugee status have not yet been determined.
Authentication
Checking that a person who claims an identity is the rightful owner of that identity based on one or more factors (Something they have, know, or are) previously provided with the KYC information.
BCM
Banque Centrale de Mauritanie
CDD
Customer Due Diligence
Credentials
A credential is any document, object, or data structure, that can digitally affirm the identity of an individual through some method of authentication in an identity system. There are several kinds of factors that could be used as identity credentials like smartcards, biometrics, passwords, one-time passwords (OTPs).
CRVS
Civil Registration and Vital Statistics
Deduplic- Deduplication refers to eliminating ation duplicate or redundant information, in the case of a Digital ID system, it is the process of checking for duplicate entries, usually through a biometric matching process, to ensure unique additions are made. DGMM
Directorate General of Migration Management (in Turkey)
Digital identity (ID)
A set of electronically captured and stored attributes and/or credentials that uniquely identify a person.154
Digital ID system
A digital ID system is a system that covers the process of identity proofing/enrolment and authentication. Identity proofing and enrolment can be either digital or physical (documentary), or a combination, but binding, credentialing, authentication, and portability/federation must be digital.155
DRC
Democratic Republic of Congo
e-KYC
Electronic know your customer - e-KYC refers to the process of electronically verifying the credentials of a customer in line with KYC processes of the country with respect to risk-based approaches. For example, this may include biometric, one-time passwords (OTPs) on mobile phones, video identification etc.
ESAAMLG
Eastern and Southern Africa Anti-Money Laundering Group
EU
European Union
FATF
Financial Action Task Force - an intergovernmental and standard-setting body responsible for establishing and promoting international standards to combat money laundering, the financing of terrorism, and proliferation financing.
FDPs
Forcibly displaced persons - FDPs broadly refer to those “forced to leave their homes due to conflict, persecution, violence, or human rights violations”. It may also include people who are forcibly displaced due to climate change, natural disasters, and environmental degradation. FDPs include stateless persons, asylum seekers, refugees, returnees, IDPs (see below), and “others of concern to UNHCR”.156
FinTech
Refers to financial technology or a company or other organization that produces financial technology
FSPs
Financial Service Providers
FSRA
Financial Security Regulatory Authority
154 World Bank. 2022. Practitioner’s Guide: Section IV Resources: ID4D Glossary. Available at: https://id4d.worldbank.org/guide/glossary. Adopted from Harbitz & Kentala 2013 and ID4D Technology Landscape report. 155 Financial Action Task Force (FATF). 2020. “Guidance on Digital Identity”. Paris. Available at: (http://www.fatf-gafi.org/media/fatf/ documents/recommendations/Guidance-on-Digital-Identity.pdf) 156 Adopted from Alliance for Financial Inclusion (AFI). 2020. Integrating Forcibly Displaced Persons into a National Financial Inclusion Strategy. Guidance Note 41. Alliance for Financial Inclusion. Kuala Lumpur. Available at: https://www.afi-global.org/publications/integratingforcibly-displaced-persons-into-a-national-financial-inclusion-strategy/
