Glossary A B C D E F G H I J K L M
N O P Q R S T U V W X Y Z

AML Audits

AML or Anti-Money Laundering is a regulation that governing bodies implement in order to ascertain that a company is not an accessory to money laundering. An AML Audit occurs when a company is put to the test to ensure that they have a proper Anti-Money Laundering program in place. If unsuccessful, the audit can lead to regulatory penalties, as well as a full review of business operations.

The EU implemented its Anti-Money Laundering directive in 1991, and it was most recently updated in 2018. In 2021, the EU established a new governing body to deal specifically with AML Audits called the Anti-Money Laundering Authority or AMLA.

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2020 Copyright © European Merchant Bank UAB. All rights reserved.
European Merchant Bank UAB is licensed by European Central Bank (License No. 3)
Swift BIC: EUEBLT22
Bloomberg Dealing Code: EUEB