Anti-Money Laundering (AML)

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Anti-money-laundering refers to a set of procedures, laws, and regulations designed to stop the practice of generating income through illegal actions. Though anti-money-laundering laws cover a relatively limited number of transactions and criminal behaviors, their implications are far-reaching. For example, AML regulations require institutions issuing a credit or allowing customers to open accounts to complete due-diligence procedures to ensure they are not aiding in money-laundering activities.