Written by Modulr | Jul 24, 2025 11:00:00 PM
Anti-Money Laundering (AML) refers to the regulatory framework and compliance processes designed to prevent the movement of illicit funds through financial systems. To mitigate financial crime risks, financial institutions must implement stringent KYC (Know Your Customer) checks, transaction monitoring and suspicious activity reporting. Regulators, including the Financial Conduct Authority (FCA) in the UK, mandate AML policies to ensure transparency and accountability.