Anti-Money Laundering (AML)

Anti-money laundering (AML) is a series of legal frameworks, regulations, and procedures designed to detect and expose illicit funds that are disguised as legitimate earnings. Its primary goal is to combat the laundering of unlawfully acquired funds by criminal or terrorist organizations.

AML is governed by regulations at both national and international levels, compelling entities within the financial industry, such as banks, fintech companies, and insurers, to establish internal procedures and controls while reporting to relevant authorities. 

As an illustration, AML regulations mandate financial institutions to monitor customer behavior, ensuring they aren’t facilitating money-laundering activities. Failure to comply with AML regulations can have significant repercussions for banks, including hefty non-compliance fines. 

Frequently asked questions

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Why is Anti-Money Laundering Important?

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What is the AML Process for Companies?

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What is the Anti-Money Laundering Act?

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What are the Five Pillars of AML?

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