AML Inspection Assistance Services Albab Tax Consultancy
The Albab Tax consultancy becomes part of the B2B Inspection Assistance Services
When providing high-quality AML assistance services to businesses who deal with controlled business environments within the UAE, our service will guarantee that your organization is completely ready to be checked by the Ministry of Economy or any other regulatory agency and you can never be out of line and serve penalties.
We know how Designated Non-Financial Business and Professions (DNFBPs) are struggling in the context of the AML /CFT framework in the UAE. The nature of our service is developed to support these needs with professional assistance in every phase of breakfast, during, and after any formal AML inspection.
Full AML check and pre inspection review
We also run a complete internal compliance review prior to any inspection. This process assists in identifying the areas of your AML framework that require improvements and also allows you to adopt your operations in the way AML regulating agencies envisage in the UAE. In the course of this service, we:
- Test your policies and risk identification of the AML/ CFT
- Do customer due diligence (CDD) and enhanced due diligence (EDD) reviews
- Check your goAML registration and submission view
- Scan the internal reporting channels of suspicious activity
- Determine the employee preparedness on inspection interviews
We strive to equip your business well so that you do not feel challenged when you are given an inspection and have to wait before you can resume your operations.
Support in Carrying out Industry-specific Inspections of DNFBPs
Not all businesses comply with AML requirements. This is why Albab Tax Consultancy provides sectoral AML inspection support to:
- Brokers and Real estate companies
- Dealers of precious metals and stone
- Corporate service providers
- Auditors, consultants and accountants
Every industry is accompanied by individual AML risks and our team will adjust the support to your operational profile. We harmonize your documentation, processes and reporting mechanism in keeping your documentation with the expectations of regulators in your industry.
Reporting Readiness Documentation Alignment
The majority of the AML inspections entail the process of a comprehensive scrutiny of your books. We are sure that all necessary documents are:
- Properly structured and in agreement with the existing laws
- Well-edited so that it can easily be given to the inspectors
- Evidence that can be used to support this includes verification of clients and records of anti-money laundering training of staff
- Connected to your ultimate risk inspection and internal audit processes
Our professionals help to bring your systems to meet compliance with documentation requirements according to the UAE AML/CFT law and UAE Cabinet Decision No. (10) of 2019.
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In-field and Online Support With Examination
Businesses are frequently failing to know how to respond to the request of regulator during the inspections. Albab Tax Consultancy offers professional advice all through the inspection to bring in transparency, accuracy, and collaboration. The following are ways in which we help your team:
- Compliance to queries made by the inspectors
- Resolving activities regarding technical requirements and reporting obligations
- Justifications with the interviews of major compliance personnel
- Reading feedback of regulators on the fly
Your workforce is assured, knowledgeable, and secure with our day of inspection service.
Post Inspection Follow Up And Corrective Action Planning
In case of findings after an inspection, our team assists you in responding to the findings as soon as possible and in an efficient manner. We:
- Examine any concern by a regulator
- Amend or optimize your AML procedures and policies
- Draw and present formal scheme of repairing circumstances
- Install new internal control as necessary
- Write reports attesting to the fact that your compliance resolution is concurred
We provide your company with assistance in responding to the results of inspections with reasonable amounts of time and professionalism necessary to the fulfilling procedure of regulatory deadlines.
The Advantages Of Our AML Inspection Support Service
You have strategic advantage in selecting Albab Tax Consultancy. We help:
- Avoid legal Repercussions or financial charges
- Preserve your license renewal and license registration status
- Become more transparent in your operations
- Establish relationship with the regulators and business companionship
- Secure long-term AML Compliance with least disturbance
We have proactive, quick, and real-world-adjusted services adapted to the challenges that the businesses in the regulated field of the UAE have to confront.
Buy Your AML Inspection Support Today
Inspections may come any time, however, being prepared means being safe. You will fear no more because your compliance program is ready to pass inspection with AML Inspection Assistance Services provided by Albab Tax Consultancy and your team is supported fully and your documentation will be according to standards of authorities in the UAE.
Contact Albab Tax Consultancy today and book your AML compliance check to ensure you are on top of the regulatory demands.
