How to make AML and CTF effective?
An effective anti-money laundering/counter financing of terrorism framework must address the main risk issues: it must prevent, detect and punish illegal funds entering the financial system and the funding of terrorist individuals, organizations and/or activities. Also, AML and CFT strategies converge; they aim at attacking the criminal or terrorist organization through its financial activities, and use the financial trail to identify the various components of the criminal or terrorist network. This mandates that organizations put in place mechanisms to read all financial transactions, and to detect suspicious financial transfers.
- What if my account is blocked?
- I need to verify my source of funds
- Why is my business information being requested again?
- Why is Revolut asking me to provide information about the nature of my business activity?
- Why is Revolut asking for an operating address, if I have provided a registered address?
- Why is Revolut asking me to provide information about my shareholders?