Due to the usage of black money into the financial ecosystem of the economy via operating through banking systems, money laundering poses a significant financial danger to all nations and is a critical worry for them all. The UNO, BCBS, FATF, and other organisations have published numerous guidelines and suggestions to all governments throughout the world to combat money laundering and terrorism financing activities with regard to both domestic and international operations. The book provides illustrations of all pertinent concerns that have arisen since the book's publication, as well as any later developments and suggested resolutions. The book covers the KYC AML guidelines in two parts and fully handles all four of them. The first section covers every facet of money laundering (ML), its threats to the economy and challenges in combating the same and the 2nd part provides Know Your Customers (KYC) measures and various regulatory prescriptions which will be helpful for the Banks / FIs to have in place a robust framework for ensuring conclusive compliances in all segments.