AML and CFT Framework

An AML and CFT (Combating the Financing of Terrorism) framework refers to the comprehensive set of policies, procedures, and controls an organization implements to prevent and detect money laundering and terrorist financing. This framework encompasses risk assessment, customer due diligence, transaction monitoring, and reporting suspicious activities to authorities.

Having a solid AML and CFT framework helps organizations comply with global regulations, such as those set by the Financial Action Task Force (FATF), and protects them from legal and financial repercussions. An effective framework not only addresses current regulatory requirements but also adapts to emerging risks and changing regulatory landscapes.