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.

AML/CTF Program

Union Block LLC (“UnionBlock”), is a licensed Money Service Business registered with FinCEN in the United States, and is required to comply with many financial services laws and regulations. UnionBlock maintains an Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Program subject to annual testing and aligned with Bank Secrecy Act requirements including Know Your Customer (KYC), Customer Identification Program (CIP), Surveillance, Training, and Sanctions Screening. Further, UnionBlock has designated a Compliance Officer responsible for maintaining day-to-day oversight of the AML and Sanctions Compliance Programs.

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