AML Compliance

AML Compliance, or Anti-Money Laundering Compliance, refers to the set of laws and regulations that financial institutions and other businesses must follow to prevent money laundering and related crimes. Money laundering is the process of making illegally obtained money appear legal. Compliance involves implementing measures like customer identity verification, monitoring transactions for suspicious activity, and reporting any concerns to authorities. The goal is to protect the financial system from criminal activity and ensure that businesses operate ethically and within the law. Strong AML compliance helps maintain trust in financial systems and prevents organized crime and terrorism financing.