Anti-Money Laundering (AML)

What is AML?

Anti-Money Laundering (AML) refers to a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained proceeds as legitimate funds. It aims to disrupt the flow of dirty money and detect, prevent, and prosecute money laundering activities. This is done by requiring financial institutions and other regulated entities to implement know-your-customer (KYC) procedures, report suspicious transactions, and maintain records of transactions for a specified period.