Cryptocurrency terminology – What is AML (anti-money laundering)?
Giovanni Translator
Translator English to Portuguese | Translator Spanish to Portuguese | Finance | Business | Technology | Religion | Localization | Proofreader | MTPE | Translation | Brazil | SINTRA | Abrates | Global | ATA | APTRAD
Cryptocurrency terminology
What is AML (anti-money laundering)?
AML is a set of measures, laws and/or regulations designed to prohibit the practice of > money laundering.
Efforts to combat money laundering and terrorism include KYC requirements, Suspicious Activity Reports, and currency transaction reports, all of which require financial institutions to investigate and report any customers or transactions that could be furthering a criminal enterprise.
Likewise, AML is a set of international laws enacted to curtail criminal organizations of individuals laundering money through cryptocurrencies into real-world cash.
Examples of use:
Finma also oversees businesses compliance with AML and KYC regulations.
SEPA transfers will be temporarily unavailable due to changes in the standards of KYC and AML requirements.