Which of the following best describes an AML policy?

An AML policy, or Anti-Money Laundering policy, is fundamentally a framework designed to combat money laundering activities. This framework encompasses a set of laws, regulations, and procedures that financial institutions and other relevant organizations are required to implement to detect and prevent financial crimes. By establishing clear guidelines and practices, an AML policy helps organizations identify suspicious activities, monitor transactions, and report any potential cases of money laundering to appropriate authorities. This structure not only protects the integrity of the financial system but also ensures compliance with legal requirements set by regulatory bodies.

In contrast, the other answers focus on concepts that do not pertain to the prevention of financial crime. A tax compliance strategy deals with adhering to tax laws and regulations and is unrelated to money laundering. A customer loyalty program is designed to encourage repeat business and is focused on marketing rather than financial security. Similarly, a marketing research tool is used to gather data about consumers' preferences and behaviors, which is irrelevant in the context of AML. Thus, the defining characteristics of an AML policy as a framework make it the most appropriate choice among the options presented.