AML (Anti-Money Laundering) regulations

Anti-Money Laundering (AML) regulations are laws and procedures designed to prevent criminals from disguising illegally obtained money as legitimate income. They require financial institutions to monitor, detect, and report suspicious activities—such as large or unusual transactions—that might indicate money laundering. AML aims to protect the integrity of the financial system by making it harder for criminals to use it for illegal purposes. These regulations also involve verifying customer identities, keeping detailed records, and cooperating with authorities to identify and stop money laundering efforts.