Anti Money Laundering (AML / CFT) Compliance Requirements

Every financial institution in the world is required to implement the AML / CFT Framework, to avoid the financial system's exploitation by criminals, criminal groups, and money launderers.

Regulators impose heavy penalties on companies and businesses that do not comply with the requirements of the AML/CFT framework and regulations. Imposition of penalties due to non-compliance with AML/CFT requirements results in financial and reputational losses.

International organization Financial Action Task Force (FATF) has issued recommendations for its member countries, the adoption of which helps ensure the implementation of strong AML / CFT measures and practices.

Due to the importance of the AML / CFT regime, the value of Compliance Professionals has increased many folds, especially of Regulatory Compliance and AML / CFT Specialists. These professionals earn handsome amounts of money by serving financial institutions such as Banks, Investment Banks, Leasing Companies, Brokerage Houses, Money Exchange Companies, Investment companies, etc. to combat money laundering risks and activities.