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Monday, March 27, 2023

Exploring the Universe of AML Certifications

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Ashok Rao
Ashok Rao
Ashok Rao is an Anti Money Laundering Specialist. He is an authority on the subject of financial crimes and money laundering. He is a qualified Certified Anti Money Laundering Professional from Regtechtimes Academy.

There are numerous AML Certifications in the world. It is not an easy task to identify the best aml certification in the world. The success of certification depends on the utility of the same for the students. Hence, I spoke to a couple of professionals who are certified as AML professionals.

What is Money Laundering?

Money Laundering is about taking the proceeds of illegal or unlawful activity and attempting to disguise sources and ownership of the dirty money obtained from the crimes like tax evasion, drug trafficking, racketeering, fraud, etc.

There are three steps to the process, generally: placement, or depositing the proceeds of crime into a bank account; layering, where the financial system is used to move the funds around to disguise the origin of the money; and then integration, where the money is sent to the bank accounts of ultimate beneficiary through a legitimate source.

Why is AML Certification Necessary?

The Financial Action Task Force (FATF)......

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