Glossary

Gas fees are payments users make to compensate validators for processing and securing transactions on a blockchain network, especially Ethereum. Measured in gwei, these fees vary based on network demand and transaction complexity. Gas ensures resource usage is priced, preventing spam and encouraging efficient contract execution in decentralized applications.

Professionals such as lawyers, accountants, and company service providers who have the ability to provide access to the financial system and can be exploited to facilitate money laundering or other illicit activities.

Gatekeepers are professionals such as lawyers, accountants, and real estate agents who can detect or unintentionally enable financial crimes. They perform due diligence, monitor transactions, and ensure compliance with anti-money laundering laws. Their roles are critical, as their services may be exploited to conceal illicit activities, placing them at the center of financial crime prevention and risk.

EU data protection and privacy law for individuals who are living in the EU and EEA.

Blanket authorization for specific categories of transactions within sanctions regimes.

Gift acceptance or offering policy for preventing inappropriately influencing.

A GIIN is a unique identifier issued by the IRS to FATCA-registered FFIs. It validates the entity’s compliance status and appears on the IRS FFI list. FFIs use GIINs when dealing with counterparties and filing reports to avoid FATCA withholding penalties and maintain transparent tax practices.

A giveaway scam is a crypto fraud where scammers impersonate celebrities or companies, promising to multiply any cryptocurrency sent to them as part of a “giveaway.” Victims send funds expecting a return, but receive nothing. These scams often spread through social media or hacked accounts and exploit urgency and trust.

GIIN is a unique 19-character ID assigned to registered FFIs and NFFEs via FATCA registration. It confirms FATCA compliance and is required to avoid withholding. Included in financial reporting, it allows withholding agents and tax authorities to identify compliant entities across global jurisdictions.

U.S. law imposing sanctions on those involved in human rights abuses or corruption.

goAML is UNODC’s end?to?end software used by 80?plus FIUs for intake, analysis, case?management, and automatic ?ESW data exchange. The Egmont Group supports goAML interoperability projects?such as Latvia’s plan to automate import/export of intelligence via ESW?so FIUs can exchange typology data seamlessly.

go-shop clause is a provision in a merger or acquisition agreement that allows the target company to actively seek and consider alternative offers from other potential buyers for a limited period after signing the deal. It helps ensure the company receives the best possible terms and maximizes shareholder value before finalizing the transaction.

golden parachute is a lucrative financial package given to top executives if they lose their job due to a merger, acquisition, or takeover. It usually includes severance pay, bonuses, stock options, or other benefits, designed to provide security and reduce resistance to ownership changes.

Good Faith Reporting means a whistleblower honestly believes the information they disclose about wrongdoing is true. Even if the reported facts turn out to be mistaken, the whistleblower is protected from retaliation as long as the report was made sincerely and without malicious intent. This encourages people to report misconduct without fear of unfair punishment.

Goodwill is an intangible asset that arises when one company acquires another for a price higher than the fair value of its net identifiable assets. It reflects factors like brand reputation, customer relationships, and intellectual property, representing the premium paid for expected future benefits beyond tangible assets.

NPCI aligns with RBI’s “Digital Payment Security Controls” and frameworks like OWASP and ISO for web/app vulnerabilities, authentication lifecyles, encryption, OK to store/not to store data, OTP resilience, reconciliation, and exception handling in fraud risk management.

Wolfsberg emphasises governance layers?private bankers, line managers, compliance, internal audit?each with defined duties, review frequencies, escalation processes, and reporting. Such frameworks ensure accountability and oversight within AML systems.

Governance rules have been simplified: roles of sponsors and pension funds are segregated; changes in sponsor shareholding need PFRDA approval only in specified scenarios; other changes can be intimated post-facto.

A governance token grants holders voting power over decisions in decentralized protocols, such as upgrades, fund allocation, or policy changes. These tokens enable community-led management in DAOs and DeFi platforms, fostering decentralized governance. The more tokens a user holds, the greater their influence in shaping the future of the project.

GSM is a tiered risk-control framework applied quarterly to illiquid, low-market?cap stocks. Companies under GSM are placed into stages I?IV, with progressively stringent restrictions?like 100% margin, trade-for-trade execution, weekly trading windows, and no upward price movement?to mitigate volatility and protect investors.

Grand corruption involves high-level officials or powerful individuals engaging in large-scale corrupt activities. It often includes embezzlement, bribery, kickbacks, or misappropriation of public funds. This form of corruption severely undermines government integrity, weakens institutions, and diverts resources meant for public welfare, often with devastating social and economic consequences.

Groupthink is a psychological phenomenon where the desire for harmony and conformity within a group leads to poor decision-making. Members suppress dissenting opinions and overlook alternatives, which can result in irrational or unethical choices. This dynamic can increase the risk of organizational misconduct and financial crime.

A guardian ad litem is an individual appointed by the court to represent the best interests of a minor or incapacitated person during legal proceedings. This ensures that the individual's rights and welfare are adequately protected throughout the litigation process.