AML laws

AML laws, or Anti-Money Laundering laws, are regulations that aim to prevent the illegal practice of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have been earned legitimately. These laws require financial and other institutions to detect, report, and prevent suspicious activities that could be linked to money laundering. Businesses, especially those in financial sectors like casinos, must comply with these laws by implementing stringent verification measures, continuous monitoring of transactions, and reporting any suspicious activities to relevant authorities. Observing AML laws helps in maintaining the integrity of financial systems and deterring illicit activities.