As the digital landscape is evolving day by day, the risk of fraudulent activity is also increasing. Just like people are able to find the world of information with just a single click, it also became easy for fraudsters to hack that information and conduct something unethical. According to recent statistics, the average percentage of data breaches has risen up to 15% and this poses a serious threat to every business organization. However, financial crimes are subject to prevention with effective anti-money laundering software solutions. These installations are the perfect step for detecting money laundering issues. But before you take a step, it will be easier to know about the subject in detail.

What Is Money Laundering?
Cash obtained illegally can never enter the mainstream economy as it is not white money. Anyone who desires to entail the same as a clean one and if caught by the authorities will be immediately badged as a criminal. Money laundering is thus a criminal practice where fraudsters target the accounts of financial institutions. They track all that information, spam it and obtain the cash unethically.

What Is Anti-Money Laundering?
Anti-money laundering is a reciprocating process that combats money laundering to a significant extent. The process embodies systematic regulation of laws and procedures to prevent criminal activities and protect financial institutions from loss of data and information. These practices are specially designed to enable detection, tracking and reporting of suspicious activities and ensure a safe working module for financial institutions.

3 money laundering red flag indicators
Unusual transaction patterns: Money laundering can be indicated by fast-paced transactions, increased frequency or value, structuring schemes, and inconsistent transactions.

Cash-intensive activities: Cash is the major facilitator of money laundering, and cash-related businesses are prime targets for money launderers. Businesses with a high volume of cash transactions or with no apparent justification for cash transactions may contribute to money laundering schemes.

Third-party relationships: Transactions conducted in the name of third-party ownership is quite common. If the business notices any such transaction, it is important to be alert and look for a reliable solution.

If you are running a financial institution, find an anti-money laundering solution that offers end-to-end money laundering detection, watchlist screening, AML detection, and KYC.

For more information please visit at ; https://www.eastnets.com/eastnets-connect-comply-for-insurance