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Blockchain & Crypto vocabulary · Regulation, Security & Risk

AML

Meaning in blockchain & crypto, with examples

abbreviationCommon term

In blockchain & crypto, AML means: Short for anti-money laundering: the laws and controls that stop criminals from hiding the origin of illegal money by moving it through financial systems, including crypto.

In Turkish: kara para aklamayla mücadele, suç gelirlerinin aklanmasının önlenmesi

How it is used

Usually paired with KYC and CFT (countering the financing of terrorism): AML/KYC checks, AML policy, AML compliance, AML officer. Exchanges monitor transactions, screen addresses and report suspicious activity to the authorities.

Example sentences

  1. Our AML team flagged the deposit because the funds came from a sanctioned address.

  2. Every new employee completes AML training in their first week.

Common collocations

  • AML compliance
  • AML policy
  • AML checks
  • AML officer
  • AML/KYC
  • KYCShort for know your customer: the checks a regulated company carries out to confirm who its customers are, usually by collecting an ID document, a selfie and an address.
  • travel ruleA rule that requires crypto service providers to collect and pass on information about the sender and the recipient when they transfer crypto for a customer, as banks do for wire transfers.
  • crypto assetA digital asset that exists on a blockchain or a similar technology and can be stored and transferred electronically. It is the wider legal term that covers cryptocurrencies, stablecoins and other tokens.
  • MiCAShort for Markets in Crypto-Assets, the EU regulation that sets common rules for issuing crypto assets and stablecoins and for crypto service providers, including their licensing.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Regulation, Security & Risk

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