Anti-Money Laundering (AML)

Anti-money laundering describes laws, controls, and monitoring intended to prevent financial services from being used to disguise or move proceeds of crime.

An AML program commonly combines customer identification, risk assessment, transaction monitoring, recordkeeping, sanctions controls, and escalation of suspicious activity. A platform may therefore request documents, ask about transaction purpose or source of funds, delay a transfer, or restrict an account while reviewing unusual activity. AML review is risk based and continues after onboarding rather than ending when identity verification is completed.