Business Relationship The term “business relationship” is one of the most commonly misunderstood terms in Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) regulations. In the realm of regulatory compliance, the term “business relationship” holds significant importance across various sectors. “Business relationship” is defined as “any relationship which is directly connected with the commercial or professional activities of obliged entities and expected to have an element of duration”. This concept extends beyond the financial sector to include a variety of professions that require specific licensing or approval. Obliged entities are those that engage in commercial or professional activities requiring licensure or approval due to inherent … Continue reading Business RelationshipRead More →