https://www.leewayhertz.com/blockchain-in-aml/
The public blockchain can supervise, validate, and record each transaction’s complete history. The public ledger’s readers and crypto miners get immediate notification of transactions as they occur. If all the transaction phases, including destination wallet, departure wallet, currency type and amount, are anyhow left unverified, the transaction will be immediately blocked. Blockchain also enables money laundering risk analysis and reporting mechanisms. It allows overall system analysis rather than monitoring just entry and exit points.
A blockchain-based AML platform can be designed and developed to simplify the AML/KYC process for both financial institutes and customers.
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