It’s a term mainly used in the financial and legal industries to describe the legal controls that prevent, detect and report money laundering activities.
Technology has become a critical part of AML policies because it has made it easier for institutions to comply with regulations. By using compliance platforms, companies are now able to easily research their clients and ensure they’re not doing business with criminals – preventing and deterring money laundering, terrorist financing and other financial crime, such as fraud.
Yoti’s gives institutions a cheaper, faster and simpler way of carrying out know your customer (KYC) and AML checks.
For more information please go to our developer page: https://www.yoti.com/developers/documentation/#aml-integration
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