Course Content
What Is Anti-Money Laundering (AML)?
AML regulations attempt to stop the illegal laundering of illicit funds. Individual governments and multinational organizations like the FATF legislate against money laundering activities. Money laundering takes “dirty” money and turns it into clean money. This can be done by disguising the origins of the funds, mixing them with legitimate transactions, or investing them into legal assets. Crypto is an attractive way to launder money due to its privacy, difficulty in retrieving funds, and underdeveloped legislation. Large-scale seizures of crypto show criminals regularly use it to launder huge sums. Binance and many other crypto exchanges track suspicious behavior as part of their AML compliance and report it to law enforcement.
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What Is Anti-Money Laundering (AML)?
About Lesson

Binance has proactively implemented numerous AML measures to help tackle money laundering, including expanding its AML detection and analytics capabilities. These efforts fall under its AML compliance program. Binance also works closely with international agencies in helping bring large cybercriminal organizations to justice.

For example, Binance played a role in providing evidence that led to the arrest of multiple members of the Cl0p ransomware group. Binance flagged suspicious transactions and criminal activity that were then investigated. Authorities used the research in cooperation with international agencies to identify money launderers from ransomware attacks, including the Petya attack.

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