fbpx
Anti-Money Laundering (AML)

A set of laws, regulations, and procedures designed to prevent criminals from obscuring the sources of illegally-obtained funds by routing them through a seemingly legitimate account, organization, or activity.
AML covers a limited range of transactions and illicit activities, but the implications are far-reaching. AML regulations require banks and other financial institutions that issue credit or deposit accounts to follow specific rules to prevent money-laundering activities through these accounts.