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It's all about AML (Anti-Money Laundering)

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  Today we are going to talk about anti-money laundering and the importance of AML. Money laundering has become a global problem that not only threatens security but also compromises the stability, transparency, and efficiency of financial systems, thus undermining economic prosperity. The process of anti-money laundering is a set of policies, procedures, and technologies that prevent money laundering. The major steps in money laundering are placement, layering, and integration. Various controls are put in place to monitor suspicious activity that could be involved in money laundering. Control is aided by anti-money laundering measures. ·          Criminalization to prevent money laundering, many governments, financial institutions, and businesses impose controls ·          Know your customers ·          Record management and software filtering ·          holding period ·          New technology During AML regulation, banks are required to collect customer information, mo
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NPA prediction in banking sector: implications

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  NPA stands for Non Performing Assets. As it sounds, it covers the assets which do not earn any return. It’s commonly heard in banking terms. NPA in banks are usually loans that do not earn any income to the lender. They are not earning and also have other negative implications. The lender cannot carry it on the books, writing it as the bad debt will make it even worse. So, usually companies hold these assets with an intent that situation will change later, or the company will try to sell it to another company. As predicted, NPAs are highly problematic for financial institutions like banks because they depend on interest payments for their income. Prolonged phases of lockdowns have resulted in many banks facing issues related to NPAs. Consequently, NPA prediction becomes an essential part of their day to day banking process.   Every nation, in fact, the whole world requires a strong banking sector to ensure a flourishing economy. Banking sector growing downwards can have a negati
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