How to stop Money Laundering?

UAE
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How to stop Money Laundering?

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Measures to stop money laundering include the following:

  • Assessing the specific money laundering risks an entity faces
  • Formulating and adopting an anti-money laundering (AML) policy and procedures based on the risks assessed
  • Conducting thorough customer due diligence, including the KYC process
  • Training staff on the entity’s AML policy and required regulatory compliance
  • Reporting suspicious activities to the relevant regulatory authority

Check out this article to learn more about methods to counter ML/TF: