AML (Eng. Anti-Money Laundering) is a system of measures, policies and procedures developed to combat money laundering and terrorist financing. AML is an important component in the field of financial regulation and economic security.
What is money laundering? Money laundering is a process that includes several stages, as a result of which illegally obtained money becomes "clean" and seems legal. The purpose of money laundering is to hide the source of income, ensure the legality of funds and facilitate their use in further illegal actions.
How does AML help fight money laundering? AML includes various measures and policies aimed at preventing, detecting and investigating money laundering. These measures include customer verification and identification, monitoring of financial transactions, suspicious transactions and suspicious activity reporting.