Anti-Money Laundering

What is AML (Anti Money Laundering)?

Anti-Money Laundering refers to the laws, regulations and
procedures intended to prevent criminals from disguising
illegally obtained funds as legitimate income.

Steps of Anti-Money Laundering -:

 Placing -: Money laundering begins by

moving the criminals proceeds into a legitimate
source of income.

1. Creating false invoices

2. Putting money into cash-based businesses
3. Opening foreign bank accounts
4. Creating offshore companies
5. Moving small amounts of money at a time
  Layering - Once the money has been put in
place, the second stage is called Layering or
Structuring.
1. Trading in International Markets
2. Purchasing foreign money orders
3. Trading in foreign currencies
4. Purchasing and selling luxury assets.

 Integration -: At the final stage of money

laundering, the funds are integrated back into
criminal’s legitimate income.
1. Putting fake employees on the payroll
2. Paying out loans to directors of a
shell
3. Paying dividends to shareholders of
criminal controlled companies.

Source of Anti- Money Laundering -: Tax

Evasion, Drug trafficking, Arms Dealing, Human
trafficking, Poaching or animals and plant’s part
smuggling, Gambling and Betting, Hawala.

SWIFT -: Society for Worldwide Interbank Financial

Telecommunication