AML/CFT Definition.
Anti-money laundering and countering the financing of terrorism: customer due diligence (KYC/KYB), transaction monitoring, suspicious activity reports to Tracfin (France’s financial intelligence unit), asset freezes, and sanctions screening. The EU AML package adopted in 2024 creates a single, directly applicable regulation and a new authority, AMLA, in Frankfurt (ramping up from 2025 to 2028, with direct supervision of the riskiest firms). Payment institutions are among the most closely inspected entities supervised by France’s banking supervisor (ACPR).
See also
Where this term appears
GuideThe role of banksGuideMerchant, acquirer, PSPGuidePayment regulationGuideAgents, distributors, and banking-as-a-service: who is liable for whatGuidePayments in the Netherlands and BelgiumGuidePayments in FranceGuidePayments in AustraliaGuidePayments in ChinaGuidePayments in the United Arab EmiratesGuideA global history of paymentsGuideAnti-money laundering in paymentsGuideMarketplaces and collecting payments on behalf of third parties