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Salamu alaykum wa rahmat Allah wa barakatu. I have a specific question about a growing field of work, it is called KYC and it is about infestigating money laundering mostly and to fight criminal money laundering and negate risks. It is mostly found within banks but in reality it has been forced upon the banks to set up KYC departements. They only cost the bank money and the analysts working as KYC analysts mostly spend their time trying to investigate if a person or company is laundering money illegaly. It is more like being a detective and it has been ordered by governments who want to know better what people launder illegal money and to fight financial criminality. I hope someone can really give a clear explenation why this would be halal or haram and not just a very general, it is for banks so it is haram but maybe look into the field a bit. I am not searching only for an answer its halal either I want a bit of peace of mind regarding this and I really want to earn halal money.
So main points why I hope it might be halal:
It is a required department by the goverment working as checks and balances and to stop criminality and people abusing their accounts to launder criminal money.
It costs the bank money and doesnt gain the bank any money to have these departments
We mostly close accounts and dont really open accounts and dont directly have to do with interest, sometimes we work for companies that are not the bank itself but hires out analysts to banks but also has money sources from lots of other more hallal companies so our source of funds is not necessarily banks only.
Barrak Allahu feek if a student of knowledge or a scholar can look into this for me.
Kind regards,
Mohamed
I