Author: Mahad Mahad

Ongoing AML monitoring is the practice of continuously examining the updated risk profiles and transactional activities of potential customers. This process plays a crucial role in identifying and rectifying the intensity of various financial crimes. The need to implement these screening checks has significantly risen since approximately 330% of all the financial data was compromised between 2019 and 2023. An effective ongoing AML screening check requires businesses to assess the updated and verified datasets during customer due diligence (CDD) operations. Due to these checks, financial and non-financial institutions are able to identify high-risk customers, which ensures the rectification of money…

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