Anti-Money Laundering steps must be taken by legitimate businesses.

Question

Quizplus · Accepted Answer

Legitimate businesses must follow Anti-Money Laundering (AML) regulations and put in place measures to prevent their services from being used for illegal activities like money laundering. This is a legal requirement meant to prevent criminal activities such as terrorism financing, drug trafficking, and other serious crimes. Failing to comply with AML regulations can result in fines, legal action, and damage to a company's reputation.

Anti-Money Laundering Steps Must Be Taken by Legitimate Businesses