Anti-money laundering (AML)

Anti-money laundering, or AML, is the body of laws, regulations and controls that regulated businesses must follow to stop criminal money being moved and disguised through the financial system.

How it works

• It’s a framework, not a single check: identity verification like KYC and KYB are the front door, screening and monitoring run behind it.
• Businesses screen customers against sanctions and watchlists, monitor transactions for suspicious patterns, and report what looks wrong.
• Tracing money to its beneficial owners is a core AML obligation — you can’t police money you can’t attribute.

The obligations scale with risk: higher-risk customers and flows get closer, ongoing scrutiny.

Why it matters

AML failures carry real consequences — fines, lost licences, and reputational damage — so for any business that holds or moves money, it isn’t optional. For a marketplace onboarding sellers at speed, the challenge is meeting the obligations without turning onboarding into a wall. Weak controls invite both criminals and regulators; heavy-handed ones cost you honest sellers.

How Fynex does it

Fynex is an FCA-authorised e-money institution, so AML controls — screening, verification, monitoring — are built into the platform and run inside your onboarding flow via KYC and KYB. See seller onboarding.