Glossary
3D Secure
A security system for online payments with debit and credit cards, most commonly implemented through an additional password or authorization code for the transaction. Its purpose is to prevent unauthorised payments and fraud. 3D Secure stands for Three-Domain Secure and refers to the three parties, or “domains,” involved in the security process: the merchant domain, the card issuer domain, and the payment infrastructure domain
Accident Insurance
A type of personal insurance that provides protection against risks to the life, health, and bodily integrity of the insured person in the event of an accident. It may be taken out as an individual or group policy and typically covers permanent loss of working capacity and death resulting from an accident. Optional additional coverages may be included, such as temporary incapacity for work, occupational illness, medical expenses, transportation, repatriation, and other related risks.
Active Income
Income received in exchange for performed work or professional activity as a result of invested labour, time, and involvement.
Active Investing
An approach where investors aim to outperform the return of a market index or other benchmark by taking advantage of market opportunities.
Actual Insured Length of Service
Only the actual calendar time worked under an employment or service relationship is counted, for which social security contributions were due, as well as periods during which the insured person independently paid the due social security contributions.
Actual Value
A basis for calculating compensation, where depreciation of the property is taken into account, so the amount paid is reduced by the corresponding depreciation percentage.
Actuarial Science
The discipline and practice of analysing, assessing and managing financial risks using statistical, mathematical, and financial methods, primarily applied in insurance and pension schemes.
Advance Fee Fraud
A type of financial fraud in which the perpetrator convinces the victim to pay an upfront fee (advance) with the promise of receiving a substantial loan, inheritance, investment opportunity, reward, participation in a deal, or other financial benefit. After receiving the advance, the promised benefit does not materialize, and the fraudster either ceases communication or demands additional payments.
Advance Tax
A tax that is paid in advance in instalments on estimated or already received income and is credited towards the total annual tax liability before the end of the tax period to which the income relates. After the end of the year, a final calculation is made, whereby the advance payments made are deducted from the final tax base.
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