AML
Published 30 October 2026, 20:39
AML refers to the anti-money-laundering rules under which banks check large or unusual transactions. So when you transfer money to buy a home, you may be asked to show where the funds come from: a sale contract, bank statements, proof of income and other evidence. In practice, this means the bank may put a transaction on hold until the documents have been checked.
Where you come across it. At the bank when making a large transfer, receiving money from abroad, paying for a home.
It is not the same as KYC: AML is about checking transactions and where the money comes from, while KYC is about the customer's identity.