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Anti Money Laundering (AML) refers to a set of laws, regulations, and procedures aimed at preventing the practice of generating income through illegal activities. The goal of AML is to detect and report suspicious activities that might indicate money laundering and to ensure that financial institutions comply with these regulations.

AML initiatives typically involve rigorous customer identification processes, monitoring for unusual transactions, and reporting any suspicious activity to relevant authorities. Financial institutions are required to implement AML programs that include staff training, compliance monitoring, and procedures for handling illicit funds.

Successful AML efforts help protect the financial system from exploitation by criminals, contributes to the integrity of the market, and reinforces public confidence in financial institutions.