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Finance & Banking vocabulary · Regulation & Compliance

AML

Meaning in finance & banking, with examples

abbreviationCommon term

In finance & banking, AML means: Short for anti-money laundering: the laws, controls and procedures that banks use to prevent, detect and report money laundering.

In Turkish: kara paranın aklanmasıyla mücadele, suç gelirlerinin aklanmasının önlenmesi

How it is used

Said letter by letter: A-M-L. Very common in job titles and policies: AML analyst, AML policy, AML checks, AML training. Often paired with CFT (countering the financing of terrorism) as AML/CFT.

Example sentences

  1. The AML team flagged the account because of unusual cash deposits.

  2. Our AML policy is updated every year to reflect new regulations.

Common collocations

  • AML checks
  • AML policy
  • AML compliance
  • AML/CFT
  • AML analyst
  • money launderingHiding the criminal origin of money by moving it through banks, businesses or transactions so that it looks legal.
  • KYCShort for know your customer: the checks a bank makes to confirm a customer's identity, address and source of funds before and during the business relationship.
  • complianceFollowing the laws, regulations and internal rules that apply to a bank; also the name of the department that checks that this happens.
  • suspicious transaction reportA confidential report that a bank must send to the national financial intelligence unit when it suspects that a transaction is linked to money laundering or terrorist financing.

This word in other fields

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

More terms: Regulation & Compliance

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This page explains English vocabulary for learners. It is not financial advice.