Regulations & Frameworks
What is the role of the European Banking Authority (EBA) in AML?
Last Updated: November 2, 2025The EBA provides technical standards and guidelines for AML/CTF compliance across the EU, focusing on consistent and effective application of...
What is the Financial Industry Regulatory Authority (FINRA)?
Last Updated: November 2, 2025FINRA is the largest Self-Regulatory Organization (SRO) in the U.S., overseeing brokerage firms. It enforces rules governing broker-dealers, including AML...
Describe the AML obligations under the UK’s Money Laundering Regulations 2017.
Last Updated: November 2, 2025The regulations mandate firms to adopt a Risk-Based Approach (RBA), implement robust CDD/EDD measures, have effective transaction monitoring, maintain detailed...
What is a Suspicious Activity Report (SAR)?
Last Updated: November 2, 2025A SAR is a confidential report filed by a financial institution with its national financial intelligence unit (e.g., FinCEN) when...
What are the EU’s AML Directives?
Last Updated: November 2, 2025These are legislative acts (e.g., 5th AMLD) aimed at harmonizing AML/CTF rules across the European Union. They mandate standards for...
What is the role of the Office of Foreign Assets Control (OFAC)?
Last Updated: November 2, 2025OFAC is the U.S. body that administers and enforces U.S. economic and trade sanctions. Its key role is maintaining the...
Explain the concept of ‘Enhanced Due Diligence’ (EDD).
Last Updated: November 2, 2025EDD is a higher level of scrutiny applied to customers or transactions classified as high risk (e.g., PEPs, high-risk geographies,...
What is the role of FinCEN in AML?
Last Updated: November 2, 2025The Financial Crimes Enforcement Network (FinCEN) is the U.S. Treasury bureau responsible for enforcing AML laws, collecting and analyzing financial...
What is the USA PATRIOT Act?
Last Updated: November 2, 2025It is a significant U.S. law enacted post-9/11 aimed at strengthening national security. It introduced key AML provisions, including stringent...
What are the FATF’s 40 Recommendations?
Last Updated: November 2, 2025They are the global standard set by the Financial Action Task Force for combating money laundering, terrorist financing, and proliferation...
