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Who needs an anti-money laundering compliance manual and what is it used for?

An antimoney laundering (AML) compliance manual is a document that outlines the policies and procedures an organization has in place to prevent, detect, and report money laundering activities. AML compliance manuals are used by organizations that are required to comply with AML laws and regulations, which are designed to prevent the misuse of the financial system for illicit purposes, such as drug trafficking, terrorism, and fraud.

AML compliance manuals are typically used by financial institutions, such as banks, credit unions, and money service businesses, as well as non-financial businesses and professions that are considered to be at high risk for money laundering, such as casinos, real estate companies, and law firms. These organizations may be required by law to implement an AML compliance program and maintain an AML compliance manual as part of their regulatory obligations.

In addition to being used to comply with AML laws and regulations, an AML compliance manual can also be used by an organization to demonstrate its commitment to compliance and to protect its reputation by demonstrating that it takes its obligations to prevent money laundering seriously.

This page was last updated on January 2, 2023.