Finsec

Anti-Money Laundering (AML)

Safeguarding Financial Integrity.

Anti-Money Laundering (AML) refers to the laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Compliance is mandatory in many industries to prevent financial crimes.

What is Money Laundering?

It is the process of making illegally-gained proceeds (i.e., "dirty money") appear legal (i.e., "clean"). Typically, it involves three steps: placement, layering, and integration.

Your Role in AML

Know Your Customer (KYC): Verify the identity of clients and assess their risk profile.

Transaction Monitoring: Identify and scrutinize unusual or suspicious transaction patterns.

Reporting: Report any suspicious activity to the designated compliance officer or authority as required by law.