Anti Money Laundering

Anti money laundering (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or reportmoney laundering activities. Anti-money laundering guidelines came into prominence globally after the September 11, 2001 attacks.

Money Laundering is the process by which criminals attempt to hide and disguise the true

origin and ownership of the proceeds of their criminal activities, thereby avoiding

prosecution, conviction and confiscation of the criminal funds. The term „Money

Laundering‟ is also used when the funds are used for terrorist financing, though the origin

of the funds may be legitimate.