There are many guidelines, measures, and specifications created by numerous organizations and associations to assist in the anti-money laundering (AML) arena. Many are geared to the overall AML regime of a particular country. Each has its own unique mission and purpose.
You might wonder, “Why is it important to understand international standards in AML?” That’s a fair question. The fair answer is that money laundering is a global concern. Organized criminal enterprises are transnational and do not recognize borders. In fact, they use international borders as a viable method to fly below the AML radar. While the U.S. dollar is still the world’s economic reserve ...