Any customer to a financial institution has to be aware of the AML policy of the bank. Hence, this is potentially a key area for questions in interviews and discussions.
Anti-Money Laundering or AML Process is an important banking procedure that enables banks to be alert for money laundering methodologies and to be able to track and monitor potential laundering accounts and relationships Best anti money laundering course.
‘Know Your Customer’ (KYC) is the guiding principle behind Anti-Money Laundering (AML) measures. In other words, KYC-AML are main building blocks for the compliance in any financial institution.
This course will introduce you to money laundering which means transforming the proceeds of crime and corruption into ostensibly “legitimate” assets. It is primarily committed in order to conceal the origins of illicitly obtained money from law enforcement agencies and financial institutions. Money laundering can be done through the following steps: placement, layering and integration.