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.