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Anti Money Laundering (AML) Compliances
Enforcement of the Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations in the UAE is taken very seriously, and non-compliance can result in significant penalties and reputational damage.
Our team of experts has extensive knowledge of both local AML/CFT regulations and international best practices, as well as a proven track record of successfully helping clients navigate these complex compliance requirements. Our services for compliance to AML/CFT compliances includes:
Implementation of robust AML/CFT policies and procedures
Agreed Upon Procedures
Employee Training
Outsourced Compliance Officer
Regulatory Remediation
Dealers in Precious Metal & Stones Report (DPMSR)
AML/CFT Software Advisory and Setup
GoAML Registration
AML Compliances Services
As part of AML Services, we perform
AML Risk Assessment
- Conduct Comprehensive risk assessments to identify potential money laundering and terrorist financing threats.
- Develop risk- based strategies and controls to effectively mitigate identified risks.
AML Policies and procedures
- Design and implement tailored AML policies and procedures specific to your business.
- Ensure compliance with UAE Central Bank regulations and other relevant guidelines.
Customer Due Diligence
- Perform thorough due diligence on clients, including detailed KYC processes.
- Continuously monitor and update client information to ensure ongoing compliance.
AML Audits and Reviews
- Conduct independent audits to assess the effectiveness of your existing AML controls.
- Provide actionable recommendations for improvement and enhancements to ensure robust compliance.
Transaction Monitoring
- Implement advanced transaction monitoring systems to detect suspicious activities in real-time.
- Analyze transactions to identify and report unusual patterns and behaviours.
Regulatory Reporting
- Assist with the preparation and submission of suspicious Activity Reports to regulatory authorities.
- Ensure timely and accurate reporting to comply with all regulatory requirements.
Ongoing Compliance Support
- Provide continuous support to maintain and enhance your AML compliance framework.
- Regularly review and update AML policies and procedures as regulations evolve.
Sanction Screening
- Implement robust sanctions screening processes to ensure compliance with international sanctions lists.
- Regularly update and monitor sanctions lists to prevent dealings with sanctioned entities.
Anti-Money Laundering (AML) Compliance in UAE
What is Anti-Money Laundering (AML)? Anti-Money Laundering (AML) refers to the regulations, laws, and procedures implemented to prevent criminals from…
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