EU AML Directive

The EU Anti-Money Laundering (AML) Directive is a set of laws and rules designed to prevent illegal money, such as from crime or corruption, from being hidden or used legally. It requires financial institutions and certain businesses to verify the identities of their customers, monitor transactions for suspicious activity, and report any concerns to authorities. The goal is to make it harder for criminals to launder money through the financial system and to promote transparency across the European Union, enhancing overall financial stability and security.