KYC is crucial. Another aspect is monitoring transactions. Keep an eye out for any unusual or suspicious activity. Automated systems can help with this, flagging transactions that deviate from the norm. I’d also suggest staying informed about the latest regulations. Compliance is key in preventing money laundering. Familiarize yourself with the laws and regulations in your industry and location. You can also check AML foundations https://amlcertification.com/courses/aml-foundations/ course. There are a lot of valuable advices that you can take there for sure
That’s a great question! Money laundering is a serious issue, and it’s important to take steps to prevent it. One key way is to implement robust Know Your Customer (KYC) procedures. This means verifying the identity of your clients and understanding the nature of their financial activities.