AML

Anti-Money Laundering — controls to detect and prevent illicit financial flows.

AML programs include customer due diligence, transaction monitoring, suspicious activity reporting (SARs), and sanctions screening. Regulated money services businesses are held to bank-like AML standards.

Related terms

KYC

Know Your Customer — verifying the identity of counterparties, users, and beneficial owners.

Sanctions Screening

Screening customers, vendors, and beneficial owners against OFAC, EU, UK, and UN lists.

See how Scarlet Risk covers AML.

One platform for compliance, cyber, vendor, and world-watch risk.

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