Compliance

Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT)
Money laundering and the financing of terrorism are financial crimes with economic effects. Money laundering requires an underlying, primary, profit-making crime (such as corruption, drug trafficking, market manipulation, fraud, tax evasion), along with the intent to conceal the proceeds of the crime or to further the criminal enterprise.

These activities generate financial flows that involve the diversion of resources away from economically- and socially-productive uses—and these diversions can have negative impacts on the financial sector and external stability. They also have a corrosive, corrupting effect on society and the economic system as a whole. Because of the negative consequences of these forms of financial abuses on our economies and financial systems,  

UnionBlock is very active in the AML/CFT  controls to mitigate the adverse effects of criminal economic activity and promote integrity and stability in financial markets.