AML (Anti-Money Laundering) Definition
Anti-Money Laundering (AML) refers to the comprehensive set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtaine
Anti-Money Laundering (AML) refers to the comprehensive set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income, thereby protecting the integrity of the global financial system. These regulatory frameworks, primarily driven by international bodies like the Financial Action Task Force (FATF), mandate financial institutions and designated non-financial businesses to implement robust controls, including Know Your Customer (KYC) protocols and continuous transaction monitoring, to detect and report suspicious activities.