Glossary
Identity Theft
The unlawful acquisition and misuse of personal data and financial information—such as names, national identification numbers, bank account details, or credit card information—without the consent of the rightful owner. Stolen data may be exploited to commit fraud, obtain loans, make unauthorized purchases, or gain other financial and personal benefits, often causing significant harm to the victim’s financial standing and reputation.
Illiquid Asset
An asset that is difficult to sell or convert into cash quickly without a significant loss of value or a considerable delay.
In-App Payment - glossary for children
Paying for goods or services through a store app installed on a phone or tablet and linked to a payment card.
Income
Monetary funds or monetary equivalents received within a certain period from sources such as salary, self-employment, property, pensions, social benefits and allowances, regular transfers from other households, as well as one-off income from sales, etc., including valued in-kind income.
Income - glossary for children
The money a person receives, such as wages, pension, rent, or from selling something. Children can also have income, for example pocket money, money received as a gift for a holiday, or from selling handmade items.
Income Tax - glossary for children
A part of the money people earn that is paid to the government.
Indebtedness
One of the key criteria in assessing creditworthiness, which involves analysing a person’s current obligations — loans, leases, and others. Over-indebtedness can signal risk, even with stable income.
Indemnity
A legal or contractual obligation to compensate a person for loss or damage suffered, ensuring that the affected party does not incur a financial detriment. Commonly used in insurance and contractual contexts.
Index
A market indicator that measures the average performance of a specific group of assets—usually stocks, bonds, or other financial instruments—grouped by a certain characteristic (e.g. sector, region, market capitalization). Indices serve as benchmarks for tracking price movements and trends in financial markets.
Index Mutual Funds
Collective investment schemes designed to track and replicate the performance of a specific market index, such as SOFIX, S&P 500, or others. Unlike actively managed funds, index funds do not select individual assets but invest in the same financial instruments and in the same proportions as represented in the index. The goal is to achieve a return as close as possible to that of the index while keeping management fees low, since active management is not employed. Index funds are suitable for long-term investors seeking broad diversification, low fees, and overall market exposure.
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