Anti-Money Laundering Compliance Services in UAE
Stay ahead of AML regulations with our comprehensive suite of AML services in UAE. We ensure your business complies with the AML regulatory framework to avoid any penalties.
- AML Compliance
- goAML Registration
- AML Policy Creation
- Annual AML/CFT
- AML Compliance Framework
- AML Risk Assessment
- AML Inspection Support
- AML Sanctions Screening
AML Compliance Solutions
AML/CFT Compliance & Regulatory Services
To assist FIs and DNFBPs with AML/CFT compliance, we offer a wide range of AML compliance solutions. Our consulting services are tailored to your specific requirements to help every unique case in the best possible manner.
AML: goAML registration
Every regulated entity must register in the goAML system to comply with the UAE's AML regulations. Businesses must submit suspicious transactions in the goAML portal to inform the Financial Intelligence Unit (FIU). Our AML consultants assist you with goAML registration and guide you through the entire process to avoid any errors.
AML policy creation
Regulated financial institutes (RFIs) and DNFBPs must develop policies and procedures aligned with local and international standards. Our AML consultancy services involve helping you develop and implement robust AML policies. We help you establish a strong foundation for your AML compliance framework.
Annual AML audit
Yearly AML audits keep you informed and prepared for possible AML non-compliance issues. Our expert AML auditors conduct a comprehensive annual AML audit to ensure your AML regulatory framework works effectively. This thorough review identifies gaps, provides recommendations, and ensures your compliance practices remain up-to-date.
Design AML compliance framework
Financial institutes and DNFBPs are required to create and implement a strong AML regulatory framework. Our experienced AML consultants assist you with developing a tailored AML compliance framework with efficient procedures and controls. We ensure the framework addresses your unique business requirements, risks, suspicious transactions, reporting, and regulatory obligations.
AML: risk assessment questionnaire assistance
Risk assessment questionnaires can be daunting and complex for FIs and DNFBPs. Risk assessment involves reviewing transactions and financial records and even conducting KYC/due diligence on customers. Our experienced AML consultants guide you through the process to ensure accurate and appropriate responses for effective risk management.
AML inspection support
Relevant authorities conduct AML inspections to prevent ML/CFT in a company. As an FI or DFNBP, you must prepare for regulatory inspections. Our AML experts conduct thorough on-site inspections and provide you with a detailed report. We also offer actionable recommendations to strengthen your AML defence.
AML sanctions screening
All regulated businesses must register in the FIU's automatic reporting system to receive the sanctions list. To safeguard your business from dealing with sanctioned entities or individuals, you must carefully review every profile. As the top AML compliance firm in Dubai, our sanctions screening process analyses global lists to identify partial or complete match-sanctioned entities.
AML In-house compliance department setup
Businesses must create a customised AML regulatory framework based on their specific requirements and establish an in-house AML compliance department. As the best AML regulatory services company in Dubai, we help you set up a department catering to your unique needs. We also provide assistance with staffing, training and implementing best practices.
AML training
We offer AML training conducted by our AML experts to keep your teams updated and informed. AML training is a crucial part of AML compliance for every organisation to ensure that there are no scenarios in which staff members do not comply. We conduct interactive workshops with real-life scenarios to equip them with the necessary skills for effective compliance management.
AML regulatory reporting
All FIs and DNFBPs must report any suspicious activity or transaction to the goAML portal. DNFBPs are also required to submit TFS-related reports to the system. We help you stay up-to-date with regulatory reporting requirements. Our AML consultants assist you with timely and accurate reporting, minimising non-compliance risk.
Why Do You Need AML Compliance Services in UAE?
Every financial institution or DNFBP needs to be AML-compliant. Due to the complexity of the laws and regulations surrounding AML/CFT, they require a reputable company or consultant who provides AML compliance solutions. Here are some reasons why you need an AML consultant in the UAE.
Eliminate Non-Compliance Risks
Find and Rectify Operational Risks
Avoid Public Humiliation
Reduce Chances of AML Notifications
Why Hire Us
Expert Consultants
TAR CSP has a team of industry-leading AML professionals to assist you with AML compliance and other challenges. Our extensive expertise in AML consulting services enables us to offer perfect solutions to your AML issues.
Tailored Solutions
We offer solutions uniquely tailored to address your specific needs. Different businesses and industries face different challenges, and we are here to ensure you remain AML-compliant regardless of your business's nature.
Quality Assurance
Our expert AML consultants are deeply committed to providing the best services. We go the extra mile to maintain the highest standards of compliance and ethical practices in your AML compliance regulatory framework.
Constant Support
AML/CFT laws and regulations are complex, and as sanctions lists are updated regularly, they are difficult to keep up with. As the best AML compliance service provider in the UAE, we offer continuous support and guidance to keep you AML compliant and avoid any fines.
Track Record
We have a proven track record of successfully assisting businesses in crafting and implementing their AML policies, procedures, and controls. Our expert AML professionals have ensured that businesses comply with AML regulations and avoid getting penalised.
Challenges
Challenges to Stay Informed &
Updated
- The anti-money laundering and combating the financing of terrorism laws, guidelines, and regulations are complex, and it's hard to stay updated and informed all the time.
- Also, interpreting the AML/CFT regulatory expectations accurately is more complex and challenging than it seems.
- Additionally, having subsidiaries in more than one country increases the complexity, as you have to deal with the different AML compliance expectations of multiple nations.
Challenges in KYC/EDD
Implementation
- Know Your Customer (KYC) and Enhanced Due Diligence (EDD) become tough as the number of customers increases.
- Poor KYC/EDD standards may allow fraudsters to find loopholes and hide their true identity.
- Incompetent verification processes and finance tracking result in an inability to find a customer's correct income source or identity.
How we help with AML UAE?
Risk Assessments
We Conduct complete risk assessments to identify potential vulnerabilities.
