| Anti-Money Laundering (AML) refers to the contemporary web of laws, regulations, and procedures aimed at uncovering illicit funds disguised as legitimate income. Money laundering is the process of making illicit funds appear legal, while terrorist financing is the process of collecting funds for terrorist activities. The source of the funds is the main difference between the two processes. Both money laundering and terrorist financing can harm the financial system and the economy of a country. Combating the Financing of Terrorism (CFT) is a set of government laws, regulations, and other practices that are intended to restrict access to funding and financial services for those whom the government designates as terrorists. Counter-proliferation financing refers to measures to combat proliferation by analyzing and preventing related financial transactions. It is aimed at preventing non-state actors from taking part in proliferation-related activities. |
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