An AML investigation is a process conducted by financial institutions to track down cases of suspected illicit activities like money laundering and terrorist financing. It involves analysing any information that might help identify suspicious patterns and potential sources of illicit funds: financial transactions, customer behavior, and other relevant data.

If the investigation concludes that the activity is suspicious, the institution submits Suspicious Activity Reports (SARs)/Suspicious Transaction Reports (STRs) or other required reports to regulatory authorities.