What is the law on anti-money laundering?

In Delaware, the law regarding anti-money laundering is primarily contained in the Delaware Code. The purpose of the anti-money laundering law is to help law enforcement and financial institutions detect and prevent the movement of illegal funds and to prevent businesses and individuals from engaging in fraudulent activities. Under Delaware law, financial institutions are required to monitor and report any suspicious activities they observe in customer accounts. This includes activities such as large transfers of funds, frequent transfers of funds in and out of the account, and any other unusual or suspicious activities. The Delaware Code also requires financial institutions to develop and maintain a written anti-money laundering program. This program must include procedures designed to detect and prevent suspicious activities. Financial institutions must also regularly monitor accounts for suspicious activities and must report any suspected money laundering activity to the proper authorities. The Delaware Code also requires financial institutions to provide training to their employees about identifying and reporting suspicious activities. Additionally, financial institutions must provide customer identification and verification information to law enforcement when requested. Overall, Delaware has a comprehensive set of laws in place to help prevent money laundering. These laws are designed to protect citizens and businesses from illegal activities, while also providing financial institutions with the tools they need to detect and prevent suspicious activity.

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What is the law on anti-money laundering?

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