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Anti-Money Laundering

   Also found in: Medical, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
Anti-Money Laundering
Any law or regulation requiring an institution to perform due diligence on potential clients to ensure that it is not aiding in a money laundering scheme. If the institution does not conduct due diligence properly, it may be held legally liable for the money laundering activities. These regulations were an important part of the USA PATRIOT Act.
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24 (ANI): If Pakistan fails to upgrade its existing anti-money laundering laws before February 2010, it will have to face severe financial penalties from international organisations that includes being declared a "high-risk country.
Pak to be declared 'high-risk country' if it fails to upgrade money ... by Asian News International
The long awaited anti-money laundering bill was passed by the National Assembly, after having spent almost two years in a Special Select Committee, reports Caribbean Net News (May 4, 2009).
Anti-money laundering legislation by Caribbean Update
T he bankAEs National Anti-Money Laundering Committee, or NAMLC, decided to issue a warning to the public about the unlawful marketing of investment products as it met to review efforts to deter money laundering in the UAE.
UAE Central Bank Warns about Unlicensed Investments by Khaleej Times (Dubai, United Arab Emirates)
 
 
 
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