AML refers to Anti-Money Laundering, a set of procedures, laws, et regulations designed to prevent, detect, et report money laundering activities. Money laundering is the process of concealing the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses.

In the context of Kang Fintech Solutions, adopting APIs that comply with AML regulations allows financial institutions to:

  • Monitor transactions for suspicious activity.

  • Ensure compliance with COBAC’s AML standards, safeguarding the integrity of the financial system.

  • Prevent financial institutions from inadvertently being involved in money laundering.

Importance for Clients:

  • Reduces the risk of being fined or penalized for non-compliance.

  • Enhances sécurité et trust with customers et stakeholders.

  • Helps institutions stay aligned with local et international AML regulations.