what is AML and Kyc?

Question

Accepted Answer

AML stands for Anti-Money Laundering and KYC stands for Know Your Customer.

AML is a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.
KYC is a process of verifying the identity of customers and assessing their potential risks of illegal intentions.
AML and KYC are important in financial institutions to prevent money laundering and terrorist financing.
Examples of AML and KYC measures include customer due diligence, transaction monitoring, and suspicious activity reporting.

Accepted Answer

Anti money laundering and know your customer

Accepted Answer

Anti-money laundering (AML) is the general term for the laws, rules, and processes that prevent money laundering. Customer due diligence is applied to screening and validating prospective clients under Know Your Client (KYC) standards.

Accepted Answer

Aml is anti money laundering and kyc is know your customer

Accepted Answer

Anty money londering and know your customer AML illigal transaction Kyc Customer Verification

what is AML and Kyc?

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