Customized AML Training And Advisory Services to UAE-based Businesses Albab Tax Consultancy

In such a financial environment where compliance has been a legal requirement, it becomes necessary to equip your team with knowledge according to perfection and continuous aid. Albab Tax Consultancy provides end-to-end AML Training & Advisory Solution that helps your business be equipped with the knowledge to conduct business in the full compliance of the UAE Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) laws.

Our special program allows regulated organizations to comply with the required training and get familiar with risk profiles, develop efficient AML frameworks, and be prepared to pass the checks conducted by the Ministry of Economy and other regulators.

Incriminating Knowledge Which Creates Faithfulness

According to the UAE AML laws, staff training is obligatory. It does more than hitting all the check boxes, though, and makes sure that your firm takes a proactive approach to financial crime prevention. Our empowering training enables teams in every business function to make accurate identification, assess, and reporting of suspicious activity.

In our training we counter:

• The AML/CFT legislation and the legislation in the sector
  
  
• Implementation of risk-based approach
  
  
• Customer due diligence (CDD) and Enhanced due diligence (EDD)
  
  
• Suspicious Transaction Reporting (STR) and goAML application
  
  
• Jobs under AML laws in the UAE
  
  
• The internal procedures of record-keeping
  
  

Your team members will have tailor made sessions regarding their roles and responsibilities so that compliance is incorporated as a key business activity and not as a form of burden.

Help to High-Risk and Regulated Industries

Regulators in the UAE are paying close attention to businesses that fall in the category of Designated Non-Financial Businesses and Professions (DNFBPs). These include:

• Developers and agents in real estate
  
  
• Precious metal and jewels dealers
  
  
• Accountants and lawyers
  
  
• Trust and firm service providers
  
  

Our AML advisory services to DNFBPs prevent compliance failure by tailoring relevant recommendations that can be implemented into your business practice, as well as upholding appropriate records and preparations.

Building AML Compliance Systems Development and Enhancement

An effective compliance program needs more than a paper-based policy. At Albab Tax Consultancy, you get practical advice in drafting and keeping up-to-date the requisite documentation, procedures and control systems that can withstand visits of authorities.

In our advisory role we have the following:

• Developing of internal AML/CFT policy
  
  
• Model generation of risks usages
  
  
• AML structure of reporting and escalation procedures
  
  
• Set up and support of internal controls setup and compliance team
  
  

Among the existing practices, a review is obtained based on the Cabinet Decision No. (10) of 2019

All our solutions are geared to fit your business model and operation capability so that, in the long run, they are sustainable.

Real and Interactive Instruction Merchandising

Our training services are practical, applicable and implementable. Face-to-face or virtual, your group gets the value of professional-guided studying with the inclusion of:

• UAE enforcement in real life
  
  
• Submission of goAML step-by step guides
  
  
• Risk analysis scenarios aimed at industries
  
  
• Red flag and suspicious activity exercises
  
  

Our programs differ with other generic webinars or outdated courses that might never induce any actionable knowledge that can be directly gleaned by your team.

Ongoing Supervision outside the Building

In Albab Tax Consultancy, we do not just offer one time training sessions. Our advisory service is available on an ongoing basis so your compliance systems change with the changing regulations. As service provisions to us in the long term we propose:

• Pre-planned refreshers courses depending on new AML laws
  
  
• Reports on Ministry of Economy trend of inspections
  
  
• Gap analysis and AML health checks
  
  
• Support in internal AML compliance audit
  
  
• High risk case reporting or handling, on-call advice on such cases
  
  

This is an ongoing relationship that makes your business remain inspectable and ready at any given times.

The Reason Why Compliance Training Must Not Be Delayed

Postponing AML training, or working without professional advisory services, may result in:

• Administrative or regulatory penalties
  
  
• Trade license suspension or banishment
  
  
• Loss of reputation and the faith of the customers
  
  
• Its increased exposure to fraud or financial crime Higher exposure to fraud or financial crime Higher exposure to fraud or financial crime
  
  

What we do is not only to help us fulfill our legal duties, but we improve a compliant, trustworthy organization ready to face the future.

Make the First Step to Professional AML Training & Guidance

Compliance is not an option anymore. As regulators continue to visit greater numbers of DNFBPs and financial service providers, there is no time like the present to meet this requirement.

Albab Tax Consultancy assists companies in the UAE make sense of the AML regulations – in utmost certainty, clarity, and support. You may have a framework in place, or you may be starting out with your first AML policy, either way our training and advisory services are the support you need to continually stay within the law.

Enroll in the AML-related training with the company today and start grooming your more solid and secure business.