cryptohunter
Active member
- PPF Points
- 2,738
EMI institutions must have strong procedures in place to combat money laundering and terrorist financing. These measures are necessary to ensure that their services are not misused for illegal activities. As part of these procedures, EMI institutions are required to perform customer due diligence checks, which involve verifying the customer's identity and assessing the risk associated with conducting business with them. It is crucial for EMI institutions to prioritize anti-money laundering (AML) and counter-terrorist financing (CTF) efforts in order to maintain a secure financial environment.
