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What is AML

Fostering Innovation and Competitiveness With FinTech, RegTech, and SupTech
Anti-money laundering (or AML) rules help authorities detect and banks to report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.
Published in Chapter:
Finding Solutions to Cybersecurity Challenges in the Digital Economy
Hazik Mohamed (Stellar Consulting Group, Singapore) and Hassnian Ali (International Center for Research in Islamic Economics, Pakistan)
DOI: 10.4018/978-1-7998-4390-0.ch005
Abstract
New technological innovation has incorporated frontier technologies in transforming the way we access and use existing products and services. The economy is becoming increasingly disrupted by revolutionary enterprises using technologies such as cloud computing, extensive use of artificial intelligence and data analytics, integration of interoperable internet of things (IoT) devices and the blockchained decentralization, including advanced materials. At the same time, regulatory and legal systems need to be strengthened in order for the ecosystem be protected from cyber risks and threats to allow for the market actors to flourish. In order to enjoy the benefits brought on by digital technologies, there are regulatory issues that come with technological adoption along with financial stability implications and consumer protection, with suggestions that regulators themselves adopt advanced technologies (RegTech) to embark on the new era of market supervision and monitoring to enhance cybersecurity.
Full Text Chapter Download: US $37.50 Add to Cart
More Results
Artificial Intelligence and Blockchain-Driven Islamic Capital Markets
Anti-money laundering (or AML) rules help authorities detect and banks to report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.
Full Text Chapter Download: US $37.50 Add to Cart
Full Text Chapter Download: US $37.50 Add to Cart
Full Text Chapter Download: US $37.50 Add to Cart
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