Anti Money Laundering (AML) is a term used to describe preventing money laundering and terrorist financing. Anti-Money Laundering rules are in place to help prevent criminals from using legitimate businesses as a front for their illegal activities such as drug trafficking, terrorism, or fraud.
These regulations are enforced by governments globally and have been developed through international cooperation between countries that share an interest in promoting financial stability and combating crime.
Anti Money Laundering has become increasingly important over time because it helps protect against the global issue of financial crimes like tax evasion, bribery, corruption, theft, etc.
Anti-money laundering refers to “the legal measures, both criminal and civil, taken to combat the practice of converting dirty money from crimes such as drug trafficking or terrorism into ostensibly clean funds.” Its laws are not just there for your safety and protection; they also have the potential to save you a lot of time, trouble, and expense.