Regulatory Compliance

How ECOVIS JRB Safeguards Your Business from Regulatory Risk

At ECOVIS JRB, we provide a full suite of compliance solutions that protect your business from reputational, legal, and financial exposure. Our regulatory experts work closely with finance, legal, and operations teams to ensure robust frameworks, proactive reporting, and end-to-end documentation.

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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.

Risk-Based Approach:

Identifying and managing risks associated with money laundering and terrorism financing.

KYC and Customer Due Diligence:

Ensuring accurate and thorough identification and verification of customers.

Suspicious Activity Reporting:

Proactively reporting unusual transactions to authorities.

Record Keeping:

Maintaining detailed records to support compliance activities.

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.

We assist organizations in maintaining compliance in a practical and efficient manner

Entity level AML/CFT risk of assessment for your business

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

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.

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.

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:

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.

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:

Customized Solutions

Professional services craft AML/CFT strategies uniquely tailored to the specific needs of each business, enhancing the effectiveness of compliance efforts.

Seamless Implementation

From strategy formulation to execution, these services ensure compliance measures are seamlessly integrated into the business framework.

Cost-Effective Approach

By delivering high-quality compliance solutions at competitive rates, professional services offer exceptional value without compromising on effectiveness.

Regulatory Expertise

Professional services offer profound insights into the latest AML/CFT regulations and industry best practices, ensuring businesses remain compliant and well-informed.

Proven Track Record

With extensive experience across multiple sectors, these services provide a wealth of knowledge and a history of successful compliance outcomes.

Expert Guidance

Access to seasoned consultants offers businesses tailored advice and dedicated support, making the compliance process more efficient and manageable.

FAQS

Frequently Asked Questions

Why is AML/CFT compliance crucial in the UAE?

AML/CFT compliance is vital in the UAE as it protects the financial system from being used for illegal activities, such as money laundering and financing terrorism. Non-compliance can result in substantial fines, legal consequences, and significant damage to reputation.

Who is required to comply with AML/CFT regulations in the UAE?

How frequently should businesses conduct AML/CFT training?

How can businesses safeguard themselves against money laundering and terrorist financing?

What are the consequences of non-compliance with AML regulations in the UAE?

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Outsourced Compliance Officer & MLRO Services for Regulated Entities:

Experienced Compliance Officers & Money Laundering Reporting Officers (MLRO)

We specialise in providing outsourced Compliance Officers and MLROs to the DFSA and FSRA-regulated firms in the UAE.

Firms regulated by, or seeking authorisation from, the DFSA or FSRA must appoint a Compliance Officer (FO) and a Compliance & Money Laundering Reporting Officer (MLRO) registered with the respective authority. These roles must be filled by individuals possessing the necessary qualifications, experience, and seniority level.

While it is mandatory for most regulated firms operating within the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) to have these roles, it is not always cost-effective to maintain them as full-time positions. We offer outsourced services to ensure compliance with all regulatory and reporting requirements.

The regulator permits businesses to outsource the roles of Compliance Officer and MLRO, depending on their scale and complexity. Many firms in the DIFC and ADGM chose to outsource these functions. This approach provides flexibility and necessary expertise without the financial burden of a full-time resource, given the size and complexity of their business operations.

Our team of outsourced Compliance Officers and MLROs possess the skills and experience to be effective and constructive for your organization. Our consultants will integrate seamlessly with your team, ensuring your firm complies with all relevant regulatory requirements.

Key Considerations while assessing your outsourcing needs:

Do you have a qualified individual to assume the role of Compliance Officer/MLRO?
Does your compliance function possess specific regional knowledge and expertise
Do you need a full-time resource for this role?
Do you have in-house compliance function that is sufficiently independent from the business operations?
What are the roles and responsibilities of an outsources compliance & MLRO function?

Outsourced Finance Officer (FO) Services for Regulated Entities:

Firms regulated by, or seeking authorisation from, the DFSA or FSRA must appoint a Compliance Officer (FO) registered with the respective authority. These roles must be filled by individuals possessing the necessary qualifications, experience, and seniority level.

The regulator permits businesses to outsource the roles of Finance Officers depending on their scale and complexity. Many firms in the DIFC and ADGM chose to outsource these functions. This approach provides flexibility and necessary expertise without the financial burden of a full-time resource, given the size and complexity of their business operations.

Our team of DFSA and FSRA approved Finance Officers possess the skills and experience to be effective and constructive for your organization.

Our finance officer will integrate seamlessly with your team, ensuring your firm complies with all relevant regulatory requirements.

The usual role and responsibilities of a finance office include following:

Review your accounting processes and systems to ensure compliance with applicable rules and regulations.
Prepare and deliver month-end financial reports (balance sheet, P&L, and cash flow) to management and the board.
Control and monitor your capital and liquidity resources.
Prepare and submit quarterly and yearly prudential reports.
Act as your regulatory point of contact for financial matters.
Liaise and coordinate with internal and external auditors regarding mandatory year-end audit reports.
Prepare and maintain updated budgets and scenario stress tests.
Assist with developing accounting and finance policies and manuals.
Support the Risk Officer in preparing risk management reports.
Assist in preparing IRAP and ICAAP reports.
Attend board meetings and other relevant meetings where impactful measures to capital and liquidity resources are discussed.
Provide financial advisory support to the Senior Management Team.

Outsourced Risk Officer for Regulated Entities:

Firms regulated by the DFSA and FSRA require a Risk Officer with relevant experience to oversee the Enterprise-wide Risk Management framework and ensure compliance with the relevant regulations.

While it is a requirement for certain type of firms operating within the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) to have these roles, it is not always cost-effective to maintain them as full-time positions. We offer outsourced services to ensure compliance with all regulatory and reporting requirements.

Tasks performed by the Risk Officer:

Advising the Board and senior management on risk management and assisting in risk assessment.
Supporting the compliance function in regulatory/compliance risk management, including building second-level controls ("bottom-up" controls) and creating risk awareness.
Establishing internal risk policies and structures for business units.
Being responsible for the operational risk management function within the firm.

Why hire an Outsourced Risk Officer? Outsourcing the Risk Officer role allows your company to concentrate on core business activities without worrying about regulatory requirements and obligations. This approach is also more cost-effective and efficient. At JRB, we have developed strong relationships with many clients who trust us as their preferred choice for outsourced Risk Officer services.

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In an environment of increasing regulatory scrutiny, our AML (Anti-Money Laundering) and CFT (Counter Financing of Terrorism) compliance audits help businesses stay ahead of risk. At ECOVIS JRB, we assess your internal frameworks, reporting procedures, and due diligence practices to ensure alignment with UAE regulatory requirements. Whether you’re a DNFBP, financial entity, or a growing business navigating compliance obligations, we provide clear, actionable insights to strengthen your controls and protect your reputation.

Services Offered

AML/CFT internal audits and file reviews
Compliance gap analysis and remediation plan
Review of CDD/KYC files, STR procedures, and risk classification
Preparation for regulatory inspections (MOE, FIU, Free Zone audits)
Final audit reports and board-level compliance summaries

Key Considerations

All DNFBPs must undergo AML audits or file readiness checks annually.
Many Free Zones (like DMCC, DIFC) now request third-party compliance reports.
Strong audit readiness protects licenses, investor trust, and banking relationships.
Internal reviews improve awareness and fix non-conformities early.

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Ready to elevate your business with expert financial and advisory services? Contact us today to discover how ECOVIS JRB can support your journey towards success.

Regulatory Compliance

How ECOVIS JRB Safeguards Your Business from Regulatory Risk

Robust Internal Controls and Policies:

Risk-Based Approach:

KYC and Customer Due Diligence:

Suspicious Activity Reporting:

Record Keeping:

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.)

Customized Solutions

Seamless Implementation

Cost-Effective Approach

Regulatory Expertise

Proven Track Record

Expert Guidance

FAQS

Frequently Asked Questions

Outsourced Compliance Officer & MLRO Services for Regulated Entities:

Outsourced Finance Officer (FO) Services for Regulated Entities:

Outsourced Risk Officer for Regulated Entities:

Services Offered

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