Procedure of anti money laundering? What is money laundering? What is anti money laundering What is CDD What is pep?

Question

Accepted Answer

Money laundering is the process of making illegally obtained money appear legal by hiding its true source.

Money laundering involves three stages: placement, layering, and integration.
Anti money laundering (AML) refers to laws and regulations designed to prevent money laundering.
Customer Due Diligence (CDD) is the process of verifying the identity of clients to prevent money laundering.
Politically Exposed Persons (PEP) are individuals who are entrusted with prominent public functions.
PEP status requires enhanced due diligence to prevent corruption and money laundering.

Accepted Answer

There are three major steps in money laundering [placement, layering, and integration]...Money laundering is a financial crime in which the source of illegally acquired money or goods is hidden from law enforcement and financial regulators by generating the appearance of legitimacy for the illicit gains.Customer Due Diligence. Politically Exposed Person.

Procedure of anti money laundering? What is money laundering? What is anti money laundering What is CDD What is pep?

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