AML Compliance Services Dubai
Make Sure Financial Integrity with Professional AML Compliance Solutions in the UAE
The legal aspects of Anti-Money Laundering (AML) compliance are only a partial picture of the situation in the continuously changing financial and regulatory landscape of the UAE. All businesses in different industries such as banking, real estate, trade in precious metals and in consultancy activities are supposed to be in compliance with UAE Federal Decree-Law No. (20) of 2018 and Cabinet Decision No. (10) of 2019 on AML and Combat of the Financing of Terrorism (CFT).
We provide all-inclusive UAE AML-compliance services at Albab Tax that are meant to safeguard your business, promote the best international standards, and guarantee regulatory compliance.
The AML Compliance Services Offered by Us include, amongst others:
AML Registration
We also help to build effective CDD and EDD procedures, as well as guarantee there will be no problem with the onboarding process to comply with the high standards of KYC (Know Your Customer) and UBO (Ultimate Beneficial Ownership).
AML Risk Assessment
We test the risks of AML through thorough risk assessment by our experts, which involves considering the risks associated with clients, products, geographical and transaction. This establishes the basis of your compliance strategy.
AML/CFT Audit
Through internal AML audit, we identify the areas of weakness in your compliance system and prescribe the necessary remedial steps to avoid legal and reputation risks.
AML Inspection Assistance
Our group advises you on recognition and reporting of suspicious activities to the Financial Intelligence Unit (FIU) in the United Arab Emirates (UAE) to evade penalties and encourage compliance.
AML Training Advisory
Individually inspired teaching on employees and senior management to enable them to familiarize themselves with the red flags, duty to report, and daily compliance practices.
Want a compliance professional in house but can not afford the full time price? Our AML Compliance Officer services divide into retainer and project to cover the long-term regulatory requirements.
Policy Procedure on AML
We assist you to develop customised internal AML policies, procedures and control systems, which are in line with the regulations in the UAE and international best-practice requirements including the FATF (Financial Action Task Force).
What makes us special?
Local UAE Expertise
Extensive knowledge in respect of the regulatory requirements in the UAE and operational environments.
Secure and Legit
Advanced confidentiality and adherence to national and international compliance requirements to AML laws.
Customized Services
Customized services to medium-sized companies, big organizations and finance institutions.
Who Requires AML compliance in the UAE?
In the UAE, the following sectors have to undertake AML/CFT measures:
- Real estate Brokers
- Precious Metals and Stones Dealers
- Accountants Auditors
- Trust and Company Service providers
- Legal Consultants & Law Firms
- Virtual Asset Providers and Cryptocurrency Providers
- Insurance Companies and Money Banks
A refusal to follow the rules could lead to harsh sanctions through large fines and the suspension of the license. It is important to have effective implementation of AML on time and well.
Precedent Current Regulatory demands
If you are starting a new business or you have to enhance your current compliance system, we offer AML compliance services so that you can comply with regulatory requirements of the UAE in time and in effective ways.
Contact us now and book a consultation to embark on a journey towards full AML compliance in the UAE.
