AML
From MgmtWiki
Contents
Full Title or Meme
Anti-Money Laundering Rules as established first in the US and then in international banking.
Context
Banks handle people's money with more or less discretion.
Taxonomy
- AML/CFT = anti-money laundering and countering the financing of terrorism
Financial Institutions
The following institutions are recognized by the US Financial Crimes Enforcement Network (FinCEN) as needing to comply:
- Casinos
- Depository Institutions (Banks)
- Insurance Industry (property, health, casualty)
- Money Services Businesses (Pay Day Loans)
- Mortgage Co/Broker (real-estate)
- Precious Metals/Jewelry Industry (bars, coins, bling)
- Securities and Futures (seems like blockchain has been added in here - think ICO = Initial Coin Offering)
Problems
Follow the money and you will find the crooks.