The companies covered by the Anti Money Laundering Act are responsible for preventing financing of terrorism. Terrorism financing is described in the act as collecting, providing or receiving assets in order for them to be used, or with the knowledge that they are intended to be used, to finance terrorist activities or a terror network. The money can come from legitimate sources, for example from business profits and charitable organizations (donations), or from illegal activities including trafficking in weapons, drugs or people, or kidnapping.
The companies covered by the AML Act are responsible for preventing financing of terrorism
Updated over a week ago