Key Functions of AMLC in Combating Financial Crime
The Anti-Money laundering Council (AMLC) is very instrumental in ensuring that the financial system does not fall into the hands of illegal activities like money laundering, terrorist financing, and other financial malpractices. Being the foremost government institution that promotes and enforces AML laws, the council makes sure that individuals and organizations act in accordance with some stringent regulations meant to keep the illegal money out of the economy. Being familiar with the major roles of AMLC can assist business, financial institutions and even the average citizen in understanding its importance in the transparency and integrity within the financial sphere.