Title: What is Anti-Money Laundering (AML)? | ComplyAdvantage
Headings: What is
Anti-Money Laundering (AML)
and why is it necessary?

What is Anti-Money Laundering (AML) and why is it necessary?
What is Anti-Money Laundering?
Objective of Anti-Money Laundering
Anti-Money Laundering and FATF
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AML in Banking
Financial Institutions’ Reactions to Anti-Money Laundering
Anti-Money Laundering and UNODC
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AML in Banking
Given that financial institutions play such a pivotal role in the world of financial crime, it is important that they are properly trained on how to identify and handle money laundering. Almost every bank employee receives training in anti-money laundering, and all of them are legally required to report any suspicious activity. Additionally, new anti-money laundering software increasingly used to help detect potential criminal activity that bank employees may not notice. Financial Institutions’ Reactions to Anti-Money Laundering
Although financial institutions are obliged to follow anti-money laundering regulations, this does not necessarily mean that they agree with them. Recently, many banks have become vocal about their dislike of anti-money laundering policies and their belief that these policies are both costly and ineffective. Every year in Europe and America alone, millions of dollars are used in an attempt to regulate and stop money laundering. But many are starting to believe that the anti-money laundering systems currently in place are largely ineffective and that the amount of money we spend on them is not worth their questionable accomplishments. Anti-Money Laundering and UNODC
In addition to the FATF, the United Nations Office on Drugs and Crime also proactively tries to identify and stop money laundering. This office has an informative website that provides facts and details about money laundering, as well as how it can be spotted and prevented. The UN Office on Drugs and Crime also provides software that can be used to help prevent financial crime, collect data, and perform analysis.