anti money laundering law

Anti Money Laundering - AML

AML works against criminal activities and works to stop it all together so white washing is a thing of the past

What is Anti Money Laundering (AML)?

AML (Anti-money-laundering) refers to practices and ideologies which aid in the elimination of illegal financial exchange. The most conventional mechanisms to undermine this conduct are procedures, laws and regulations. 

Although anti-money-laundering laws only apply to a modest amount of transactions, their implications are vast. Currently, to ensure institutions are not aiding in money laundering activities, AML regulations require that those who grant credit or allow clients to open mids must complete due-diligence procedures. 

This responsibility falls on the banks, instead of the criminals or the government.