Anti-Money-Laundering Policy (AML)

An Anti-Money Laundering (AML) Policy includes regulations and measures designed to prevent money laundering and the financing of terrorism. These policies aim to stop illegal funds from entering the legal financial system.

Many online payment providers, including Soulclick, require their clients to undergo a Know Your Customer (KYC) process and implement an AML policy. This ensures that nonprofits offering online payments take steps to prevent money laundering and report suspicious transactions. A common rule in a nonprofit’s AML policy is that anonymous donations above several thousand Swiss francs are not accepted, or that address information is validated during the checkout process.