AML (Anti-Money Laundering)
Anti-Money Laundering (AML) refers to a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. Financial institutions are required to monitor customer transactions, report suspicious activities, and comply with AML regulations to detect and prevent money laundering activities. AML frameworks typically include Customer Due Diligence (CDD), transaction monitoring, and Suspicious Activity Reports (SARs).