AML Compliance Program

An Anti-Money Laundering (AML) Compliance Program is a set of policies and procedures that organizations, especially financial institutions, implement to detect and prevent money laundering activities. Money laundering is the process of disguising illegally obtained money as legitimate funds. An AML program includes risk assessments, employee training, monitoring transactions, and reporting suspicious activities to authorities. The goal is to ensure that businesses comply with laws designed to thwart financial crime and promote transparency, thereby protecting the integrity of the financial system.