Glossary entry
Anti‑money laundering (AML)
Anti-Money Laundering (AML) refers to laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.
Category
Lending technology
Definition
What AML looks like in onboarding
- Identity verification and customer risk assessment
- Sanctions and watchlist screening (where applicable)
- Evidence retention for review and audit
Operational implication
Even when checks are automated, exception handling matters: flagged cases need clear queues, reasons, and governed outcomes.
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