Money laundering is associated with drug traffickers and terrorism. Criminals often use financial institutions to disguise the criminal origin of money and other assets obtained through crime. They use employees in the financial sector to help them evade the law by “washing their dirty money and assets clean”. Money laundering is defined as “an act to disguise the nature, origin or location of the proceeds of a crime”. Criminals often launder the proceeds of their crime through financial institutions or banking systems so that it appears as if the money was legitimately acquired . Hence Money laundering is a threat to the good functioning of a financial system.

 

When a criminal activity generates substantial Profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved. Criminals do this by disguising the sources, changing the form, moving the funds to a place where they are less likely to attract attention. The fight against money laundering and terrorist financing is a priority for Al Amal Express General Trading LLC (trading name Amal Express). We maintain a sound regulatory environment and ample resources have been earmarked for ensuring responsible corporate governance. We have inculcated the local AML laws and regulations and world's best AML practices into our AML policies and procedures, which have been rigorously, implemented at all our locations.