AML Program

An AML program is a comprehensive system that integrates all of an organization’s anti-money laundering policies, procedures, and controls. This program is designed to prevent and detect money laundering activities by addressing various risk areas, including customer verification, transaction monitoring, alert investigation, training, and reporting obligations. An effective AML program ensures that the organization meets regulatory requirements and can identify suspicious behavior proactively.

Implementing an AML program requires senior management commitment, sufficient resources, and regular audits to assess its effectiveness and alignment with current regulations.