Chapter I

AML Foundations

Understand why AML exists, how the risk-based approach works and the concepts that underpin every control that follows.

01Why AML ExistsPurpose, economic logic, evolution and limits of AML/CFT controls.02Foundational Learning PathSequence from core terms to case review, evidence judgement and MLRO oversight.03AML/KYC Misconceptions & Control ErrorsChecklist thinking, false certainty, identity errors and unsupported risk conclusions.04Core AML ConceptsRisk-based approach, CDD, UBO, PEP, sanctions, STR/SAR and recordkeeping.