Adverse media screening is an inevitable requirement of AML/CFT compliance process for businesses coming under the purview of AML/CFT regulations in the UAE.
However, implementing the adverse media screening measures requires considering various practical aspects. Successful implementation of the adverse media screening process is only possible when the business has considered the risk-based approach, on the basis of which the AML/CFT compliance policies, procedures, systems, and controls are devised.
The AML/CFT compliance policies, procedures, systems, and controls need to contain well-drawn-out procedures for conducting adverse media screening that work along with other aspects of customer due diligence requirements and enable businesses to derive maximum benefits.
Check out RapidAML’s video on Integrating Adverse Media Screening into AML/CFT Compliance Framework, which will enable and equip businesses with basic know-how about implementing an adverse media screening process.
