How do you deal with money laundering?
To effectively deal with the threat of money laundering, DNFBPs need to assess their risk exposure to money laundering, formulate and adopt internal AML policies, procedures and controls, conduct customer due diligence including KYC, monitor and report suspicious transactions, conduct independent audits and train employees about their AML policy and compliance mechanisms.
Check out this article to learn more about establishing an effective AML/CFT framework: Guide To establishing an Effective AML/CFT Framework - AMLUAE