Glossary

A race to the bottom refers to a state of a market when competitors attempt to undercut each other's prices in order to gain a competitive advantage by sacrificing quality standards or workers' safety.

Racketeering refers to financial crimes in which money or property are obtained through extortion, intimidation or force from a person or organisation. The term is usually associated with organised crime.

In business, a raider is a private equity firm that buys stakes in failing and undervalued companies in order to make quick profit from them. Raiders buy stakes big enough to gain significant control, which they use to advance measures to increase shareholder value.

Ransomware is malicious software that makes data or systems unusable until the victim makes a payment.

A rate or return (RoR) is the net gain or loss made from an investment over specific time period.

Real gross domestic product (GDP) is a measure of the value of all goods and services produces in an economy in a given year, after adjusting for inflation.

Real income is the income of an entity or individual after adjusting for the effects of inflation and the like.

A sales tax is a consumption tax imposed on the sale of goods and services. Conventionally, a sales tax is levied at the point of sale, collected by the vendor and diverted to the government.

Segregated bank accounts are used to hold client funds separately from the firm's money. This ensures that the money from the two groups is not used for the wrong purpose.

The Single Euro Payment Area (SEPA) is a payment system that was created by the European Union which eases the way in which cashless payments transact between European countries. European businesses and consumers can make seamless payments through the SEPA infrastructure. Brüc + Bond is a direct member of SEPA.

Social engineering is the act of manipulating people into carrying out specific actions, or divulging information, that's of use to an attacker.

Spear-phishing is a more targeted form of phishing, where the email is designed to look like it's from a person the recipient knows and/or trusts.

A strong password is a phrase or a word that is based on a personal information that is not available online. -Strong password contains of both upper and lower case characters (a-z and A-Z); -have digits and punctuation characters as well as letters 0-9 or any set of special characters i.e. !@#$%^&*()_+|{}[]

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) provides e messaging network for financial institutions worldwide. This network enables financial institutions worldwide to send and receive information about financial transactions in a secure manner, facilitating international money transfers. The majority of international bank transfer use the SWIFT network. Brüc + Bond is a member of SWIFT.

Two-factor authentication (2FA) is the use of two different components to verify a user's claimed identity. It is also known as multi- factor authentication.