What is Anti Money Laundering?
Anti Money Laundering A set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income, as defined by FATF and national authorities.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Anti Money Laundering” Used in Practice?
Banks must implement robust anti money laundering controls in line with FATF recommendations and local laws.
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Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is Anti Money Laundering?
A set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income, as defined by FATF and national authorities.
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