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Anti-Money Laundering Definition (AMLD)

by | Feb 24, 2021 | Anti Money Laundering (AML), Financial Crime Academy

Do you want to know Anti-Money Laundering Definition (AMLD)? The term anti-money laundering, or AML, refers to the laws, regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Though anti-money laundering laws cover a limited range of transactions and criminal behavior, their implications are far-reaching.

For example, AML regulations require banks and other financial institutions that issue credit or accept customer deposits to follow rules that ensure they are not aiding money-laundering. Other examples are manifold and they cover all types of businesses and go far beyond financial services.

What is Anti-Money Laundering Definition (AMLD)

AML laws and regulations target criminal activities including market manipulation, trade in illegal goods, corruption of public funds and tax evasion, as well as the methods used to conceal these crimes and the money derived from them.

The main purpose of AML regulations is to prevent money laundering. Regulators around the world have published and are continuously publishing many pieces of legal work to achieve this goal and companies are required to comply with these laws and regulations.

Now I hope you found this article useful and if you have any questions, please let me know. Otherwise, thanks for watching and see you in one of our online course.

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