Anti-Money Laundering, the body of law and controls aimed at preventing the integration of illicit funds into the financial system.
AML frameworks typically require regulated entities to perform customer due diligence (CDD), enhanced due diligence (EDD) for higher-risk relationships, ongoing monitoring, suspicious transaction reporting (STRs), and record-keeping. The EU AML package (AMLR, AMLD6, AMLA) consolidates and strengthens these obligations. In Türkiye, MASAK is the Financial Crimes Investigation Board responsible for AML supervision.
FATF-aligned obligation requiring VASPs to share originator and beneficiary information for crypto-asset transfers.
Financial Action Task Force, the inter-governmental body setting global anti-money-laundering and counter-terrorist-financing standards.
Know Your Customer, the customer identification and verification process underpinning AML compliance.