AML/CFT: Strengthening Financial Defences Against Illicit Activity
AML/CFT stands for Anti-Money Laundering and Countering the Financing of Terrorism. It encompasses both regulatory frameworks—like the U.S.’s Bank Secrecy Act and the EU’s AML regulations—and global standards laid out by institutions such as the Financial Action Task Force (FATF). These measures are designed to prevent criminals and terrorist groups from abusing financial systems. Through…