Editing Ai Aml (section)

== <span style="color: #FFFFFF;">Remembering</span> ==
* '''Money laundering''' — The process of making illegally obtained funds appear legitimate; three stages: placement, layering, integration.
* '''Placement''' — Introducing illicit cash into the financial system (e.g., structured deposits to avoid reporting thresholds).
* '''Layering''' — Obscuring the money trail through complex transactions (wire transfers, shell companies, cryptocurrency).
* '''Integration''' — Reintroducing laundered funds as apparently legitimate (real estate, luxury goods, investments).
* '''Know Your Customer (KYC)''' — The process of verifying customer identity and assessing their risk profile.
* '''Customer Due Diligence (CDD)''' — Ongoing monitoring of customer transactions and behavior for AML compliance.
* '''Enhanced Due Diligence (EDD)''' — Additional scrutiny for high-risk customers (PEPs, high-risk geographies).
* '''Politically Exposed Person (PEP)''' — Government officials or their associates at elevated risk of bribery and corruption.
* '''Suspicious Activity Report (SAR)''' — A report filed with FinCEN when suspicious financial activity is detected.
* '''Transaction monitoring''' — Automated analysis of financial transactions to detect suspicious patterns.
* '''Structuring (smurfing)''' — Breaking large transactions into smaller ones to avoid reporting thresholds ($10K CTR in US).
* '''FinCEN''' — US Financial Crimes Enforcement Network; receives SARs and provides AML guidance.
* '''FATF''' — Financial Action Task Force; international AML standard-setting body.
* '''Beneficial ownership''' — The natural person(s) who ultimately own or control a legal entity; key for AML transparency.
* '''Network analysis (AML)''' — Mapping transaction and ownership networks to detect shell company chains and money flows.
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