Anti Money Laundering (AML) is a worldwide term to prevent money laundering and includes policies, laws, and regulations to prevent financial crime.
Knowledge Base
Everything you need to know about AML & KYC!
Crypto exchanges quickly became important in financial systems by increasing risks and regulations
An anti-money laundering compliance officer/aml officer is a person who manages AML programs and processes of companies under the AML obligation.
Adverse Media (negative news) is any bad and negative information about the customer or business found in various sources.
The AML risk assessment carries out this process by identifying placessand those who want to finance terrorist activities.
Regulators and organizations under the obligations of AML have taken and are taking effective steps in the fight against financial crimes
AML Name Screening is one of the methods used for risk assessment of existing or potential customers of organizations under the AML obligation.
Also known as the Financial Markets Regulator, AMF is France's stock market regulator.
Australian Transaction Reports and Analysis Center (AUSTRAC) is an Australian Financial Intelligence Unit.
AML policy includes the measures the company takes against money laundering. Anti-money laundering policy is a policy created by financial companies that aim to prevent revenues from illegal activities.
Automated Clearing House (ACH) is a system for digital money transfers from a sender bank to a receiver, established in the middle of the 1970s in the US. is used for electronic funds transfer (EFT) and is regulated by Nacha.
Account takeover fraud occurs when a cybercriminal gains access to a user's login credentials for an online account
Authorized Push Payment (APP) fraud is a sophisticated and dynamic financial fraud that presents severe risks to both individuals and enterprises.
ACH fraud is the unauthorized manipulation of electronic financial transactions within the Automated Clearing House network, leading to the illicit redirection of funds.
AML checks are essential for financial institutions to detect and prevent fraudulent activities, ensuring compliance with regulations and maintaining the integrity of the financial system.
Find the best AML software with key features like transaction monitoring, PEP screening, sanctions checks, and risk-based compliance tools for 2025.
BSA Officer works financial institutions to ensure compliance with laws and regulations pertaining to the United States’ Bank Secrecy Act.
Bank stress test refers to the measurement of the losses that banks will experience in possible adverse scenarios.
The Black Market Peso Exchange is the most extensive money laundering methodologies in the Western Hemisphere.
Benefit fraud, also known as welfare fraud, is the illicit act of making false claims or providing misleading information to obtain government assistance programs.
The Bank Secrecy Act (BSA) is the United States of America's most crucial anti-money laundering regulation. It is the main source of regulation for both the American and global financial systems.
Customer due diligence (CDD), one of the basic requirements of the risk-based AML approach, provides the detection of potential customer risks.
Considering the function of financial institutions, it is crucial to understand a currency transaction report's concept and purpose, also known as CTR.
The financing of terrorism is the financing required by terrorists to carry out terrorist acts. Terrorists provide this funding through donations, money laundering, and drug trafficking.
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.
Cloud computing technology is the provision of computing services such as servers, storage, databases, network, and software over the internet.
Learn why customer risk screening and monitoring are crucial for companies to comply with AML regulations, mitigate financial crime risks, and protect their reputation.
The Financial Crimes Enforcement Network (FinCEN) has performed the CDD Ultimate Rule published by the U.S. Department for financial institutions in May 2018.
Commission de Survellience du Secteur Financier (CSSF) is also known as Financial Supervisory Authority.
Learn what the CFCS certification is, who should get it, and how it helps professionals strengthen their expertise in financial crime compliance.
Customer risk assessment is a series of evaluations made when a new business relationship or transaction is to be initiated with the customer.
Council for Financial Activities Control is the financial intelligence unit that works to prevent money laundering in Brazil.
Strategies for Understanding and Preventing Credit Card Fraud to Protect Your Financial Security.
CEO fraud, also known as business email compromise (BEC), is a type of cybercrime where malicious actors impersonate high-ranking executives to deceive employees into transferring funds or sensitive information.
The Chief Risk Officer (CRO) assumes the pivotal role of fortifying organizations against an array of risks that threaten their stability and prosperity.
The key aspects of the Customer Identification Program (CIP), its significance in ensuring compliance with KYC and AML standards, and its critical role in safeguarding financial institutions from fraud and money laundering activities.
Effective strategies to prevent and combat chargeback fraud, protect your business from financial losses, and maintain secure online transactions.
Explore the meaning of corruption, its main types and root causes, and discover effective solutions to combat corruption in public and private sectors.
Discover what compliance means in business, its types (regulatory, data, corporate), key industries affected, and how companies stay compliant to avoid fines.
Discover what the Certified Fraud Examiner (CFE) certification is, who it's for, and how it enhances careers in fraud investigation, forensic accounting, and compliance.
What is cybercrime? Learn the definition, types, and real-world examples of cybercrimes like hacking, phishing, and identity theft in this guide.
The prevention of money laundering activities issued some guidelines on DNFBP of FATF
Learn about Domestic PEPs and Foreign PEPs, and their significance in risk assessment and compliance measures.
De-Risking is a strategy that companies apply when they cannot manage these money laundering risks that they have obligations to.
The Dodd-Frank Act was created in response to the financial activities that led to the 2008 financial crisis, like falling stock prices.
Drug trafficking is a worldwide illegal enterprise that involves the cultivation, manufacturing, distribution, and sale of illicit drugs under drug regulations.
DEA is a US government law enforcement agency tasked with stopping drug trafficking and maintaining drug-related regulations
Deepfake technology, its creation process, real-world examples, potential dangers, and the ethical and legal challenges it presents.
Discover what due diligence is, its role in business, M&A, KYC, and AML. Explore types, checklists, and how it helps manage financial and compliance risks.
Discover what doxxing means, how it works, real-life examples, and how to protect your personal data from online exposure and cyber threats.
Electronic identity verification (eIDV) is a process of verifying a person's identity through electronic means
Enhanced Due Diligence procedure, able to detect high-risk customers and large transactions, is an advanced KYC procedure that provides further risk investigation.
Discover the role and functions of the European Banking Authority (EBA) in regulating and supervising the banking sector across Europe to ensure financial stability and protect consumers.
Egmont Group's primary purpose is to help countries develop their national anti-money laundering systems.
Elderly people who are the victims of offenders are subjected to financial exploitation; thus, financial institutions should do all possible to safeguard their elderly clients.
ESG stands for Environmental, Social, and Governance and refers to responsible investment strategies focusing on these factors.
What is eKYC? Learn how electronic KYC streamlines customer verification with speed, accuracy, and regulatory compliance.
Understand eIDAS regulation—key to secure electronic identification, authentication, and trust services across the EU. Learn how eIDAS supports compliance and KYC processes.
Discover effective strategies to detect and prevent employee fraud, minimizing risks and protecting your business from internal fraud schemes.
Learn what an embargo is, types of embargoes, real-world examples, and key compliance tips for businesses in 2025. Stay updated on trade restrictions and embargo regulations.
Detect and prevent embezzlement with forensic accounting, fraud risk management, and internal controls to safeguard your business from financial crime.
Learn about Japan’s Financial Services Agency (FSA), its role in regulating banks, securities firms, and insurers, and how it enforces AML and KYC compliance in 2025.
Learn what FinCEN is, its role in AML enforcement, and how it helps detect financial crimes through data collection, regulation, and monitoring tools.
The Financial Conduct Authority (FCA) is an organization that regulates financial firms and markets in the UK and acts as a warning regulator for these organizations.
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.
False negative alarms in Anti-Money Laundering (AML) refer to financial activities that should have been detected, but were missed by the compliance software tool, AML team or an officer due to their subtle or sophisticated nature
Financial Industry Regulatory Authority is a government agency that aims to protect US investors and ensure market integrity.
The purpose of financial sanctions in the UK is to achieve specific foreign policy or national security goals.
The Financial Intelligence Center Act (FICA) came into force in 2003 to combat with financial crimes in South Africa.
As the Federal Financial Supervisory Authority of Germany, BaFin plays a crucial role in combating money laundering and terrorist financing.
FATCA is the law that requires American citizens to provide details of their financial accounts outside the U.S. to the IRS.
Money and fraud are always associated because fraudulent, criminal activities generate cash, which needs to be laundered.
Learn what FINTRAC is, how it combats money laundering in Canada, and its role in financial compliance for banks, fintechs, and reporting entities.
Financial Misseling is generally a sales practice in which a product or service is intentionally misrepresented.
The 5th EU Anti-Money Laundering Directive (5AMLD) was introduced by the European Parliament on April 19, 2018, in response to incidents such as human trafficking, terrorism, and the Middle East migration crisis.
FIUs gained popularity in the 1990s to receive, evaluate, and share financial information related to economic crime.
According to the Money Laundering and the Financing of Terrorism (Prevention) Act (Wwft), the Financial Intelligence Unit-Netherlands is the authority to report suspicious transactions for organizations that are obliged to report.
The Financial Action Task Force (FATF) is an intergovernmental organization established in 1989 by members of the G7 to develop standards around AML.
Financial Supervisory Authority (FIN-FSA) is the institution that controls and supervises Finland's financial and insurance industries.
The Autorité de Contrôle Prudentiel et de Résolution (ACPR) is in charge of overseeing banks and insurers in France.
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.
A financial crime risk analyst is the person responsible for reducing and preventing these crime risks within the organization they work for.
FCPA is designed to prevent U.S. companies and individuals from engaging in bribery of foreign officials in order to obtain or retain business.
Financial Services and Markets Authority (FSMA) is a regulatory body overseeing financial institutions’ AML compliance in Belgium.
The Federal Information Security Modernization Act (FISMA) was enacted to modernize the government's cybersecurity regulations to address contemporary security challenges.
A machine learning system by the Federal Reserve, FraudClassifier categorizes payment transactions based on fraud risk, alerting financial institutions.
Front companies in money laundering pose challenges for financial institutions.
Financial Crimes are criminal activities carried out by individuals or criminal organizations to provide economic benefits through illegal methods.
Explore forensic accounting: fraud detection, litigation support, and financial investigations. Learn how forensic accountants uncover financial misconduct.
What is fraud? Learn key types, detection methods, and how to prevent financial crime effectively with Sanction Scanner’s AML compliance solutions.
Discover what financial transparency means, why it matters for businesses and governments, and how it helps build trust, accountability, and compliance.
GDPR is the regulation that aims to protect all personal or professional data of the citizens of the EU member countries.
Geographic targeting orders (GTO) is a tool used by the Financial Crimes Enforcement Network (FinCEN) to detect money laundering.
Glass-Steagall Act was enacted in an effort to restore public confidence in the banking sector, which had been severely shaken by the bankruptcy of thousands of banks during the first years of the depression.
Discover how the SWIFT GPI Tracker improves cross-border payment speed, transparency, and compliance. Learn how it works and why it matters for global banking.
Discover the HM Treasury Sanctions List, who it applies to, and how it supports the UK's financial sanctions regime to combat terrorism and financial crime.
HMRC in the UK collects taxes in general. The other important responsibility is to work with the FCA to investigate money laundering crimes.
HKMA ensures the stability of the Hong Kong dollar under the Linked Exchange Rate System (LERS).
Human trafficking exploits millions globally for forced labor and sexual exploitation, demanding urgent action to combat this severe human rights violation.
HMRC is a law enforcement agency with a strong criminal investigation staff responsible for investigating Serious Organized Financial Crime.
Explore how hawala functions as an informal financial network, its risks, legality, and how compliance teams can monitor it. Learn how to stay compliant and protect your business.
Identity Verification is to check the accuracy of the information provided by a public or private.
International sanctions are restrictions on trade and economic relations between individuals, organizations or countries based on specific reasons.
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.
Identify and prevent impersonation scams, safeguard your personal information, and stay safe online.
ISO 20022 serves as a framework that harmonizes financial information exchange, improving connectivity and accessibility within the financial system.
Know Your Customer (KYC) is a control procedure that financial institutions apply to verify the identities of their existing and new customers.
Companies need to know whether their income is being misused by corrupt business owners, shareholders, or money launderers by conducting KYB
By calculating the risk associated with a person, the KYC risk rating helps organizations avoid doing business with individuals involved in financial crime.
Know Your Employee fundamentally means whole relationship that the management has established with its employee.
Know Your Transaction is a financial sector term that refers to the process of reviewing financial transactions for fake or suspicious activities like money laundering.
Know Your Supplier (KYS), also known as supplier risk management, is a process that focuses on ensuring transparency and compliance in the supply chain.
Know Your Patient (KYP) is a critical compliance process in healthcare aimed at verifying patient identities to protect their data and prevent identity fraud.
What is kleptocracy? Definition, key traits, and real-world examples of corrupt regimes that use embezzlement, money laundering, and state capture to exploit public funds.
What are KYC documents? Learn the key types, requirements, and why they matter for AML compliance and secure customer onboarding in 2025.
Lenders are individuals or organizations that lend money to borrowers in exchange for a particular agreement.
Layering is one of the techniques used in money laundering.
Loan fraud involves criminals obtaining a loan by unlawfully using someone's personal information.
Money Laundering is a process of conversion illegal sources to a legal source. The purpose of criminals laundering money is to earn revenue from crime.
Learn what money laundering is, its stages, and how to prevent it. Discover key strategies for AML compliance and risk management.
The Money Laundering Reporting Officer (MLRO) is authorized person in a company to control and report its activities regarding AML compliance.
The Money Services Business (MSB) is usually a currency exchange and money transfer transaction.
The Monetary Authority of Singapore (MAS) is the central bank and financial regulator of Singapore. It is led by the Minister of Finance and operates with a strict code of conduct and core values, such as professionalism, honesty, and fairness.
To provide transparency in financial markets, sharing data on trading activity and transactions are important.
Learn about money mules, how they’re caught, and the risks they pose. Discover red flags, prevention tips, and solutions for businesses with AML compliance tools.
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.
The Malta Financial Services Authority (MFSA) is the only banking and finance sector supervisor in Malta.
Mexican Unidad de Inteligencia Financiera (UIF), is a federal body devoted to recognizing and stopping financial crimes such as money laundering and terrorism funding.
Multi-factor authentication (MFA) is a security process that requires users to provide two or more forms of authentication in order to access a system or application.
The discussion focuses on mirror trading, Deutsche Bank's scandal, and regulatory compliance.
Mortgage fraud encompasses a spectrum of deceptive activities related to housing and mortgages.
Various forms of market manipulation, their economic impacts, and how advanced tools can help detect and prevent fraudulent activities to ensure market integrity.
The New York State Department of Financial Services is responsible for regulating all financial services.
The National Crime Agency (NCA) was established in 2013 to eradicate severe and organized crime in the United Kingdom.
The National Risk Assessment (NRA) identifies the primary concern for money laundering and terrorist financing risks that countries have.
The National Defense Authorization Act (NDAA) is a seminal piece of legislation that lays the foundation for the policies, organizations, and expenditures of the United States defense agencies.
OFAC is a US Department of Treasury agency that implements commercial and economic sanctions to support US security and foreign policy objectives.
Learn about OFAC: What it does, how its sanctions work, OFAC search or check, and how to follow regulations for AML, compliance,
OSFI is an independent federal agency set up to check financial institutions' finances.
Continuous monitoring is to take ensure that their business relationships are consistent in order to keep their information about their customers up-to-date.
What is the OCC? Explore its role in regulating U.S. banks, enforcing compliance, and supporting AML controls.
OCR is the process of converting an image of a text into a machine-readable text format. You may utilize OCR to transform the image into a text document, with the contents saved as text data.
Discover what Open-Source Intelligence (OSINT) is and how it's used to gather publicly available data for security, compliance, and investigative purposes.
Learn what the UK’s OFSI does, how it enforces financial sanctions, and why it's essential for global compliance and risk management in financial services.
Discover what “offshore” means in finance and business. Learn how offshore banking, companies, and investments work, along with their legal and tax implications.
With the revision made by the European Commission in 2015, the payment services directive II replaced payment services directive I.
Learn what a Politically Exposed Person (PEP) is, why they matter in AML compliance, and how to detect PEPs with advanced screening solutions.
The law aims to prevent money laundering and terrorist financing through institutions and confiscate the proceeds from these activities.
The USA Patriot Act's main purpose is to deter and punish terrorist acts in the United States and around the world.
Learn what a Ponzi scheme is, how it works, and the red flags to watch for. Protect yourself from financial fraud with this essential guide.
Examples of acceptable documents may include utility bills, bank statements, and government-issued documents.
Prepaid cards are valued storage devices used to pay for products and services using current card payment networks.
pKYC, including its mechanisms for ongoing compliance, its pivotal role in combating financial crime, and its benefits for both financial institutions and customers.
Phishing is a deceptive practice where attackers trick individuals into revealing personal information, leading to identity theft and financial loss.
Discover the importance of payment screening and how advanced solutions can enhance compliance, accuracy, and efficiency in your financial transactions.
Learn what PEP screening is, why it matters for AML compliance, and how businesses can detect politically exposed persons (PEPs) to reduce financial crime risk.
The Qatar Financial Center Regulatory Authority was established in 2005 as an independent regulator in Doha.
RBI is the central bank of India. The aim is to regulate financial institutions to ensure economic stability and growth in India.
Risk-Based Approach, RBA, is one of the most widely used statements in anti-money laundering (AML) and compliance.
RCA's or Relatives and Close Associates are meaning, the people who have a close connection or accompany with the PEPs.
Founded in 1934, The Reserve Bank of New Zealand (RBNZ) is the country's central bank.
Ransomware attacks aim for money and notify victims of the vulnerability and recovery steps.
Romance scams involve fraudsters who create fake profiles to manipulate individuals into sending money or personal information, often using emotional manipulation and fabricated stories of hardship.
Safeguard real estate fraud with essential tips, red flags to watch for, and the latest fraud detection technology.
Explore reverse money laundering, its challenges for financial institutions, and how advanced technologies and vigilant monitoring can help combat this financial crime.
What is regulation? Learn the definition, types, purpose, and examples of government, financial, and legal regulations that shape compliance and policy.
Risk assessment plays a key role in AML compliance. Identify and mitigate financial crime risks with an effective risk-based approach.
North Korea maintains its economy for a long time as it carries the heavy burden of international sanctions. The article examines sanctions from major jurisdictions on the country.
overview of the impacts of sanctions on Saudi Arabia's economic, social, and political landscapes
Many countries and organizations imposed sanctions on the Venezuelan government during the crisis in the country.
Sanctions against Iran target its economy, military, and nuclear activities. Learn the scope, impact, and key players behind these international measures.
A Suspicious Activity Report (SAR) is a document filed to track suspicious activities and to inform regulatory bodies about them by related institutions.
OFAC places individuals and organizations on a list called Specially Designated Nationals And Blocked Persons (SDN) for national security.
SAMLA is money laundering and terrorist financing regulations in the united kingdom.
Special Interest Entities and Special Interest Persons put companies at greater risk of money laundering due to the high risks they have.
There are some sanctions for preventing and preventing human rights violations.
Sectoral Risk Assessment refers to a process that enables companies to assess the risks associated with a specific sector of their business activities. In particular, it helps companies identify and manage the risks of money laundering and terrorist financing.
Serious Fraud Office is a specialist prosecuting authority dealing with the highest level of severe or sophisticated fraud, bribery, and corruption.
Discover the importance of Swift and BIC codes in international banking, how to find them, and their role in ensuring secure and efficient cross-border transactions.
Discover the importance of Source of Funds (SOF) and Source of Wealth (SOW) in finance. Learn how they impact transactions and ensure financial security.
Simplified Due Diligence (SDD) simplifies and enhances risk assessment in business transactions, streamlining decision-making and minimizing potential risks.
The Sixth AML Directive (6AMLD) and its crucial role in preventing money laundering, ensuring AML compliance, and implementing stringent measures for financial crime prevention in the European Union.
Learn about skimming fraud, its definition, and effective prevention methods to protect yourself and your business from this common financial scam.
The recent art of manipulation which dissuade people from their important information and increase concerns of businesses: Social Engineering.
Discover the importance of sanctions lists for compliance and learn how to stay compliant and mitigate risks effectively.
Discover what smurfing means in money laundering, how it works, and why criminals use it to avoid detection. Learn the red flags and how to prevent it.
What are sanctions? Learn how financial sanctions, trade restrictions, international sanctions, and OFAC/EU/UN sanctions lists impact global compliance in 2025.
Sanctions screening ensures compliance with OFAC, UN, EU, and other global lists—protect your business from inadvertent violations.
What is SEPBLAC? Discover the role of Spain’s Financial Intelligence Unit in combating money laundering and terrorist financing.
Trade-Based Money Laundering is one of the most commonly used methods to launder money. It takes advantage of trade systems complexity, mostly international contexts.
Learn the types of transaction monitoring in AML, how it works, and key steps in the detection, alert, and reporting process.
Transaction Laundering is a form of electronic money laundering that allows illegal merchants to obscure their transactions by processing sales through an approved vendor's payment credentials.
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.
The Department of Justice provides crime prevention by federal leadership in home control, seeking fair penalty for those guilty of illegal behavior.
The UK’s Serious and Organized Crime Strategy aims to significantly reduce the number of serious and organized crime that undermines Britain's interests.
The Bureau of Industry and Security (BIS) is a US Department of Commerce agency dealing with national security and high technology issues.
Different types of tax fraud, their severe consequences, and effective strategies for prevention and reporting to ensure compliance and avoid penalties.
UN sanctions are imposed to maintain peacekeeping between nations. There are four different UN sanction types that are diplomatic, economic, sport and environmental sanctions.
What is Ultimate Beneficial Ownership (UBO)? Learn how UBOs impact AML compliance and why identifying them is crucial for financial transparency.
The USA adopted the Securities Law SEC in 1933 when depression was the most intense after the stock market crash of 1929.
UWOs were brought into the UK legal system in January 2018 to complement the UK's criminal regime as a government response to individuals whose source of wealth is unclear
In 1997, the United Nations Office on Drugs and Crime (UNODC) was established by uniting the UN Drug Control Programme with the Centre for International Crime Prevention.
The Consolidated Scan List (CSL) lists parties the United States Government has imposed restrictions on certain exports.
When a company goes on sale, potential buyers should be shown an in-depth report on the company's financial status, called vendor due diligence.
The purpose of vessel screening is to detect and avoid establishing a business relationship with sanctioned vessels.
Explore what a Virtual Asset Service Provider (VASP) is, how it works, global regulations, compliance duties, and why VASPs are key to the crypto ecosystem.
Watchlists are databases including checks against suspected terrorists, money launderers, fraudsters or PEPs, global watchlists.
The Wolfsberg Group aims to develop guidance for the management of financial crime risks related to AML, CTF, and KYC policies.
Learn what wire fraud is, how it works, and how to protect yourself from this common financial crime involving electronic communications.
What is a wire transfer and how does it compare to ACH or SWIFT? Learn everything you need to know about fees, speed, and security in 2025.
The Financial Intelligence Centre is the Financial Intelligence Unit (FIU) of the Republic of Zambia, aiming to protect countries' financial ındustry.