AML (Anti-Money-Laundering)

An abbreviation standing for Anti – Money – Laundering, which represents a set of rules and regulations that are used to stop criminals from converting illegally obtained crypto coins into real fiat currency. It also prevents criminals from laundering their illegal incomes through crypto platforms, and then converting their coins into cash. Platforms look to prevent this laundering by administering background checks and verifications of its customers, as well as surveilling their platforms better.