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When it comes to Anti-Money Laundering (AML) crypto compliance, what are the best practices that financial institutions and crypto businesses should follow? Firstly, establishing a robust Know Your Customer (KYC) process is crucial to verify the identity and legitimacy of users. Implementing risk-based monitoring systems to detect suspicious transactions is also essential. Additionally, maintaining strict record-keeping and reporting procedures is vital for compliance. What are some other best practices, such as using advanced analytics and artificial intelligence tools, to further enhance AML crypto compliance? Furthermore, how should these practices be adapted to the constantly evolving crypto landscape?
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