Anti Money Laundering (AML) is a worldwide term to prevent money laundering and includes policies, laws, and regulations to prevent financial crime.
Everything you need to know about AML & KYC!
Financial institutions have to comply with various AML and Know Your Customer (KYC) regulations in their customer onboarding processes.
MONEYVAL is a body of the Council of Europe that evaluates compliance with international standards against money laundering and financing terrorism. It evaluates countries' AML/CTF frameworks and publishes evaluation reports with recommendations for improvement. MONEYVAL's goal is to promote effective AML/CTF measures and protect the financial system from criminal abuse.
The Canadian Center for Financial Transactions and Reports Analysis (FINTRAC) ensures the detection of money laundering and financing terrorist activities.
The FATF blacklists and greylists check in promoting international cooperation against money laundering and terrorist financing is important for the international financial system. Discover how these lists work and the consequences of being included in them.
The Financial Supervisory Authority of Norway (FSA), also known as Finanstilsynet, is the key government agency in charge of overseeing Norway's financial industry and is in charge of all banks and financial organizations.
The Federal Information Security Modernization Act (FISMA) was enacted to modernize the government's cybersecurity regulations to address contemporary security challenges.
The International Money Laundering Information Network (IMoLIN) is an organization that plays an active role in the fight against money laundering and helps those working in this field.
The International Emergency Economic Powers Act (IEEPA) is an agreement that allows the president to use executive authority over emergencies even at peacetime.
The Middle East and North Africa Financial Action Task Force is a regional institution similar to the FATF for nations in the Middle East and North Africa.
All financial transactions mediates carry the risk of money laundering, terrorist financing, corruption, bribery, and human trafficking.
OFAC places individuals and organizations on a list called Specially Designated Nationals And Blocked Persons (SDN) for national security.
Special Interest Entities and Special Interest Persons put companies at greater risk of money laundering due to the high risks they have.
SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a global messaging network that is widely used by financial institutions to send and receive money transfer orders. It is a cooperative society owned by member financial institutions and has offices worldwide.