AML Compliance

Anti Money Laundering (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. AML guidelines came into prominence globally after the September 11, 2001 attacks and the subsequent enactment of the US Patriot Act.

Today, most financial institutions globally, and many non-financial institutions, are required to identify and report transactions of a suspicious nature to the financial intelligence unit in the respective country. Channels of financing are susceptible to money laundering. At the same time funds may be directed to investments, institutions or businesses which appear to be genuine upfront but actually indulge in money laundering practices. As part of our due-diligence practice, we could be consulted to establish the authenticity of trusts, charitable institutions, funding institutions and business individuals and firms established or operating in India. We also lend our expertise in devising methods to detect money laundering in transactions and designing AML compliance systems.

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