Kount
AI-driven solutions that leverage Equifax’s data source to protect against payment fraud, achieve Anti-Money Laundering (AML), and Know Your Customer (KYC).
Showing the single result
Anti-Money Laundering (AML)
Anti-Money Laundering (AML) refers to a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. Money laundering is the process of making dirty money (earned through criminal activities such as drug trafficking, corruption, or terrorism) appear clean by funneling it through legitimate financial systems.
AML regulations require financial institutions, such as banks, to implement robust systems and controls to detect and prevent money laundering activities. These measures include customer due diligence, transaction monitoring, suspicious activity reporting, and the implementation of internal policies and procedures.
AML laws are crucial for combating various forms of financial crime and protecting the integrity of the global financial system. They help authorities identify and prosecute individuals and organizations involved in illegal activities, disrupt criminal networks, and safeguard the economy from the harmful effects of money laundering.