AntiMoneyLaundering
Anti-money laundering (AML) refers to laws, regulations, policies, and procedures designed to prevent criminals from legitimizing the proceeds of crime. Its aim is to detect, deter, and report money movements that may finance illicit activity and to reduce the availability of criminally derived funds in the financial system. AML addresses a range of offenses, including drug trafficking, fraud, corruption, and terrorism financing.
International standards play a central role in AML efforts. The Financial Action Task Force (FATF) issues recommendations
Key elements of AML programs include customer due diligence (CDD) and enhanced due diligence (EDD) for higher-risk
AML spans financial and non-financial sectors, including banks, securities firms, real estate, and professional services. Global
Ongoing challenges include evolving money-laundering techniques, the growth of digital assets, and the need for consistent