VRisk Jargon Buster

VWatch
Variation	Acceptable non native language forms of a word. For example in English Al Qaeda, French is Al Qaida, German is Al Kaida. Also acceptable nicknames. For example, Robert Jones could be Bob Jones or Rob Jones.
Permutation	Various forms of parts of the same name. For example the name on the list is Robert Jones. Permutations would be R Jones, Robert Jones, Jones R....
Public list	List published by regulators. For example, OFAC.
Private list	Lists private to the financial institution which only apply to a single business unit.
Global list	Lists private to the financial institution which apply to the entire institution.
Skip	Rule which instructs the engine the circumstances under which not to surface a detected hit because it is a known false positive.

VRules
Screening	The activity of scrutinising a message against a set of lists and skips.
Monitoring	The continuous activity of observing behaviour.
Profiling	Using statistics, algorithms and historical data to determine behavioural trends.
Alert	A colloquial term used to define a machine-to-person communication that is important, urgent and/or time sensitive.
KYC	Know Your Customer.

VCheck
Four Eyes	The review of a hit by two independent, consecutive reviewers.