Recently, ALM has appeared frequently in the press and in business areas. JAP decided to bring this
topic closer to our readers.

AML is an abbreviation of the phrase Anti-Money Laundering, which refers to all activities
undertaken by organizations providing financial services (banks, credit intermediaries, accounting
offices) aimed at eliminating the phenomenon of money laundering.

AML (Anti-Money Laundering) may also mean a separate part of a corporation, for example, the Anti-
Money Laundering Department, in which processes are carried out to eliminate such criminal
practices.

What does the AML department do – scope of duties

The main goal of AML (Anti-Money Laundering) departments is to protect the financial system from
being used for evil and criminal purposes (e.g. terrorist financing or authentication of proceeds from
criminal activity).

AML activities are often the basis for initiating proceedings, the result of which is to stop criminal
units dealing, for example, with trafficking in human beings. It is very often the invisible and
underestimated activity of financial institutions.

Financial firms are required to inform the government when they discover suspicious transactions for
large amounts. These companies also assess whether the client is from the risk area and are obliged
to monitor such client.

JAP hopes that there are fewer and fewer such situations in Poland.

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