Anti-money laundering
In short: Measures intended to prevent, detect and respond to money laundering.
Measures intended to prevent, detect and respond to money laundering. Identity verification is one component, not a synonym for the whole framework. The framework can involve customer information, transaction review and recordkeeping under applicable rules. A general definition does not establish the obligations of every provider in every jurisdiction. Read the relevant service policy and distinguish its claims from a legal conclusion about your circumstances.