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RegulationA
AML
Anti-Money Laundering — laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. AML compliance is mandatory for cryptocurrency exchanges, banks, and financial institutions worldwide. Failure to implement proper AML controls can result in heavy fines, loss of operating licenses, and criminal prosecution.
Example
“The exchange was fined $50 million for failing to enforce proper AML procedures and allowing suspicious transactions to go unreported.”