Anti-Money Laundering (AML) refers to a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Payment processors like Stripe are legally required to monitor transactions for suspicious activity to comply with AML regulations.

FAQs:

  • How does AML affect my business?
    You may be asked to provide more information about your business model or specific large transactions if they trigger AML monitoring systems.
  • Is AML the same as KYC?
    KYC (Know Your Customer) is a part of AML. KYC is identifying who the customer is; AML is the broader framework of preventing financial crime.
  • Can my account be frozen for AML reasons?
    Yes, if activity appears highly suspicious or violates sanctions lists, funds can be held pending an investigation.

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