Typology (AML Typology)
Overview
An AML typology is a documented pattern or method used by criminals to launder money or finance terrorism. Typologies describe the techniques, behaviors, and red flags associated with specific financial crimes, such as trade-based money laundering, smurfing, or shell company schemes. They are developed through analysis of historical cases, regulatory guidance, and intelligence sharing among financial institutions and law enforcement.Regulators and organizations like the Financial Action Task Force (FATF) publish typologies to help institutions recognize emerging threats and adapt their controls. Banks, fintechs, and payment processors use typologies to design transaction monitoring scenarios, train compliance teams, and update risk assessments By understanding how criminals operate, institutions can detect suspicious activity earlier and file more accurate suspicious activity reports (SARs). Typologies evolve continuously as criminals develop new techniques, requiring institutions to maintain updated detection frameworks.
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