Anti Money Laundry

Hi Amit,

Anti-Money laundry according to banking laws and regulation requires the analysis of million transactions a day. This is a very complicated process which requires both technology and expertise in this area.

Thanks,
Jill

Hi Amit,

Welcome to MortgageFit Forums.

Anti money laundering is mainly used in the legal and finance industries to describe the legal control that requires financial institutions and other regulated entities to prevent money laundering activities.

For example a bank must perform its duties by having proof of a customers identity so that the source, destination and use does not involve money laundering.

Thanks,
Caron

What is Basel convention on money laundry?