AML and CFT Provisions in Securities Markets Certification Exam Notes
Page 1 Of 82
Go to:
Money Laundering Definition: Money laundering involves disguising the source, changing the form, or moving profits of criminal acts to make them appear legitimate.
Purpose of AML Laws: AML laws prevent criminals from hiding illegally obtained money, safeguarding the financial system's integrity.
CFT Objective: Combating the Financing of Terrorism (CFT) aims to disrupt funding for terrorist activities to ensure global financial stability.
Proliferation Financing (PF): PF refers to financing the spread of weapons of mass destruction, addressed alongside AML and CFT.
Money Laundering Process: Money laundering occurs in three stages: placement, layering, and integration.