CFT

Business & Finance abbreviation · Banking

CFT
Stands forCountering the financing of terrorism
CategoriesBusiness & Finance

CFT stands for Countering the financing of terrorism, a banking abbreviation.

Measures banks and other institutions take to detect and prevent money from reaching terrorist organizations, including sanctions screening, transaction monitoring and reporting. It is usually paired with AML, as in "AML/CFT program."

Example: Our AML/CFT policy requires screening every incoming wire against sanctions lists.

Usage notes

Also written CTF (counter-terrorist financing), especially in the UK and Australia. Terrorist financing differs from money laundering because the funds may come from legitimate sources; the concern is where the money goes. FATF added terrorist-financing standards after the September 11, 2001 attacks.

More banking abbreviations

  • CAR – Capital adequacy ratio
  • CASA – Current account and savings account
  • CBDC – Central bank digital currency
  • CD – Certificate of deposit
  • CDD – Customer due diligence
  • CET1 – Common Equity Tier 1
  • CHAPS – Clearing House Automated Payment System
  • CHIPS – Clearing House Interbank Payments System
  • Chq – Cheque
  • CIP – Customer identification program
  • CRA – Community Reinvestment Act
  • CRR – Cash reserve ratio

See all 80 banking abbreviations →

Edited by the AbbreviationList.com team. Spotted an error or a missing meaning? Contact us.