AML / CFT Compliance Advisory

Introduction

AML / CFT Compliance Advisory

The UAE has implemented strict AML/CFT regulations to combat money laundering and terrorism financing, underscoring the nation’s commitment to financial integrity. These regulations require all financial institutions—including banks, insurance companies, and other entities—to establish effective AML/CFT policies. Following are the key components of a strong compliance framework:

Robust Internal Controls and Policies:

Developing and maintaining internal processes to prevent money laundering.

Suspicious Activity Reporting:

Developing and maintaining internal processes to prevent money laundering.

Record Keeping:

Developing and maintaining internal processes to prevent money laundering.

KYC and Customer Due Diligence:

Developing and maintaining internal processes to prevent money laundering.

Risk-Based Approach:

Developing and maintaining internal processes to prevent money laundering.

We provide and develop a comprehensive and practical suite of regulatory compliance advisory services, documentation, including manuals, policies, and procedures, tailored to meet the specific needs of your business.

Inadequate and ineffective compliance documentation and policies can expose your business to significant risk. With the support of our UAE Compliance Advisory team, you will stay up to date with regulatory requirements and meet the demands of your business. We can also help you demonstrate ongoing staff awareness of these compliance documents.

Assisting with relevant registrations (GoAML, EOCN etc.)
Entity level AML/CFT risk of assessment for your business
Entity level AML/CFT risk of assessment for your business
Developing a complete AML/ CFT compliance framework (AML/CFT manual, polices, controls and monitoring procedures and implementation guidelines etc.)

Introduction

Entity level AML/CFT risk of assessment for your business

Type of customers and activities you have
Countries or geographic areas you operate in
Products, services and activities you perform
Development of new products and services in your business
Development of new products and services in your business
Countries or geographic areas you operate in
Complexity and volume of your transactions
Use of new or developing technologies

Our team can create a customized AML and CTF risk assessment based on your business risks and exposure, activity, complexity and other factors affecting your daily operations.

A typical business is required to perform an annual risk assessment of there business based on following recommended criteria:

Developing a complete AML/ CFT compliance framework (AML/CFT manual, polices, controls and monitoring procedures and implementation guidelines etc.)

Navigating compliance with sanctions and regulations against money laundering and terrorist financing is a significant challenge for the regulated community. Businesses must prove their systems, procedures, and internal controls are robust enough to prevent illegal activities. Regulators globally enforce Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations to varying degrees, requiring businesses to have policies and procedures tailored to local standards.ons.

Our team can create a customized AML and CTF manual, detailing your procedures and other arrangements to comply with local regulatory requirements in your daily operations.

Our manuals come with supporting procedures tailored to your business’s size, nature, and scope. This includes:

Key Benefits of Engaging Professional AML Services

Utilizing professional AML/CFT compliance services provides businesses with a strategic advantage in navigating complex regulatory landscapes. The key benefits include: