AML (Anti-Money Laundering) is a term that refers to the fight against illegal activities in the field of finance:
- anti-money laundering obtained by criminal means
- countering the financing of terrorism;
- and financing the creation of weapons of mass destruction.
To achieve AML goals at this stage of development of the use of digital assets, the KYC procedure is applied.
KYC (know your client) is the process of verifying and confirming the identity of the user, verifying his participation in illegal activities, as well as studying the sources of funds to exclude suspicious or criminal transactions.