AML Process

An AML process encompasses the series of tasks and steps that organizations undertake to detect, prevent, and respond to potential money laundering activities. This process includes customer onboarding with due diligence, monitoring transactions for suspicious activity, generating and investigating alerts, and reporting findings to authorities. The AML process is essential for ensuring that the organization remains compliant with anti-money laundering regulations and mitigates the risk of financial crime.

A robust AML process includes continuous review and improvement to adapt to changing regulatory requirements and new types of money laundering schemes.