Anti-money laundering rules exist to stop criminal money being passed off as clean money. Banks, exchanges and professional traders all apply them, which is why you are sometimes asked where funds came from or why a transfer looks the way it does.
These questions are not accusations; they are how legitimate businesses keep their bank accounts open. The habits on your side are simple: pay from an account in your own name, keep amounts and patterns explainable, and keep your receipts. Transfers that tell a clear story move fast. Third-party payments and unexplained splits are exactly what freezes accounts - often your own.
๐ฌ Have you ever been asked about the source of your funds? How did it go?
Binance Academy covers this in more depth: https://www.binance.com/en/academy/glossary/anti-money-laundering
Next lesson: Counterparty risk: the person on the other side
Trading crypto from Dubai since 2019.