Anti-Money Laundering (AML)

Anti-Money Laundering (AML) refers to a system of laws, rules, and protocols intended to stop the unauthorized conversion of illegally obtained monies into legal assets. It is a framework created to identify and prevent money laundering and other financial crimes, such as financing terrorism.

AML measures are frequently used by financial institutions and cryptocurrency exchanges to monitor transactions, confirm customer identities, and report suspicious activity to regulatory bodies. For instance, the European Commission’s AMLD5 targets money laundering by regulating financial transactions, stemming from the broader AML rules focused on preventing illicit financial activities.

More Definitions

Securities And Exchange Commission (SEC)

The SEC is a US regulatory agency tasked with overseeing and enforcing securities laws. It plays a pivotal role in regulating financial markets, including cryptocurrencies and blockchain-related activities.

Wash Trading

A trader or corporation participates in wash trading, a dishonest activity in financial markets, including cryptocurrency exchanges, where they buy and sell the same commodity to inflate transaction volume and price movements.

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