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EMV Technology

EMV technology is a set of global standards relating to the authentication of credit and debit cards utilizing an embedded microprocessor chip instead of a magnetic strip. Also known as chip and PIN, EMV allows interoperability between chip-embedded cards and point-of-sale terminals and automated teller machines (ATMs) by different financial service companies. EMV takes its name from the original card schemes which developed the standard: Europay, MasterCard, and Visa.

Electronic Funds Transfer (EFT)

An Electronic Funds Transfer (EFT) refers to the transferring of funds between bank accounts using consumer electronic systems. This excludes any transactions originated by check, draft, or other paper instruments. EFTs can be for both credit and debit transfers and can include automated teller machine (ATM) transactions, point-of-sale transfers, direct deposits or withdrawals of funds, and telephone initiated transfers. There are several benefits to EFTs, such as increased efficiency, reduced administrative costs and a more simplified bookkeeping process.


Embezzlement is a type of fraud whereby an individual or entity misappropriates assets that entrusted to them on behalf of others. The embezzler attains the assets and possesses them lawfully, but they then breach their fiduciary responsibilities by using the assets for unintended purposes. This type of theft/larceny of assets typically occurs in the corporate and employment settings.


Equity refers to the amount of funds that would be returned to shareholders within a company if all its debts were paid and assets liquidated. Also known as shareholder equity, this can represent a company's book value, and is one of the most common metrics by which analysts assess a company's financial health.


Escrow refers to the holding of a financial instrument by a third party on behalf of two other parties in the process of completing a transaction. The third party can hold financial instruments, such as funds, securities and other assets, in escrow until it receives appropriate instructions, or until the fulfillment of predetermined contractual obligations.


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