---
kind: "section"
citation: "31 C.F.R. § 1010.505"
title: "31"
number: "1010.505"
heading: "Definitions."
url: "https://uscodex.org/cfr/31/1010.505"
---

# §1010.505. Definitions.


For purposes of this subpart E, the following definitions apply:

- (a) Account means a formal banking or business relationship established to provide regular services, dealings, and other financial transactions, and includes, but is not limited to, a demand deposit, savings deposit, or other transaction or asset account and a credit account or other extension of credit.
- (b) Money laundering means an activity criminalized by 18 U.S.C. [1956](/usc/18/1956.md) or [1957](/usc/18/1957.md), or an activity that would be criminalized by 18 U.S.C. [1956](/usc/18/1956.md) or [1957](/usc/18/1957.md) if it occurred in the United States.
- (c) Terrorist activity means an act of domestic terrorism or international terrorism as those terms are defined in [18 U.S.C. 2331](/usc/18/2331.md).
- (d) **Transaction.**
  - (1) Except as provided in [paragraph (d)(2)](#d-2) of this section, the term “transaction” shall have the same meaning as provided in [§ 1010.100(bbb)](/cfr/31/1010.100.md?p=bbb).
  - (2) For purposes of [§ 1010.520](/cfr/31/1010.520.md), a transaction shall not mean any transaction conducted through an account.

## Notes

### Authority

Authority: 12 U.S.C. 1829b and 1951-1959; 31 U.S.C. 5311-5314, 5316-5336; title III, sec. 314 Pub. L. 107-56, 115 Stat. 307; sec. 2006, Pub. L. 114-41, 129 Stat. 457; sec. 701 Pub. L. 114-74, 129 Stat. 599; sec. 6403, Pub. L. 116-283, 134 Stat. 3388.

### Source

Source: 75 FR 65812, Oct. 26, 2010, unless otherwise noted.