Protect your business from financial crimes and regulatory penalties.
Overview
Comprehensive Anti-Money Laundering (AML) and Combatting Financing of Terrorism (CFT) compliance services. We assist with registration, policy formulation, risk assessment, and ongoing compliance to ensure your business adheres to UAE regulatory standards.
What We Offer
Key Benefits
- Full compliance with UAE AML laws
- Reduced risk of heavy fines
- Enhanced business reputation
- Robust risk management framework
- Audit readiness
Our Process
Initial AML Risk Assessment
goAML Registration support
Drafting of AML Policies & Controls
Implementation and Staff Training
Ongoing Monitoring and Reporting
Why This is Important
The UAE has tightened its AML/CFT regulations, requiring strict compliance from Designated Non-Financial Businesses and Professions (DNFBPs) such as real estate agents, dealers in precious metals, auditors, and corporate service providers. Non-compliance can lead to severe penalties, including fines starting from AED 50,000, license suspension, and criminal prosecution. A robust AML framework not only protects your business from legal risks but also safeguards it against being exploited for financial crimes.
How We Can Help You Better
Comprehensive AML/CFT risk assessment
Tailored AML policy and procedure manuals
Registration with goAML portal
Screening setup for customers and suppliers
Advisory on reporting suspicious transactions
Representation during AML inspections
Annual independent AML audits
Certified AML training for your team
Frequently Asked Questions
Q1.Who needs to register for goAML?
All Designated Non-Financial Businesses and Professions (DNFBPs)—including real estate brokers, auditors, dealers in precious metals/stones, and corporate service providers—must register for goAML and comply with AML regulations.
Q2.What are the penalties for non-compliance?
Penalties are severe and can range from AED 50,000 to AED 5 million for specific violations. Repeated legislative breaches can lead to license revocation and criminal proceedings against management.
Q3.Do I need a dedicated Compliance Officer?
Yes, regulations typically require the appointment of a qualified Compliance Officer responsible for the day-to-day management of the AML/CFT compliance program and reporting to authorities.
Q4.How often should I conduct an AML audit?
An independent AML audit should be conducted annually to test the effectiveness of your compliance program, policies, and controls. The report may need to be submitted to your regulator.
Q5.What is a Risk-Based Approach (RBA)?
RBA means identifying and assessing the money laundering risks your business faces and taking appropriate measures to mitigate them. High-risk customers or transactions require Enhanced Due Diligence (EDD).
Ready to Get Started?
Contact us today to discuss how we can help your business.
Schedule Consultation