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Fair is foul, and foul is fair unless your risk scores separate high and low-risk customers.

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The rules of high society for those who fail to observe them risk financial disgrace.

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A proper education in ML/FT risks, lest one unwittingly aid a money launderer’s grand deception.

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One must always know who they’re dealing with, lest they unknowingly dance with ML/FT risks.

AML/CFT Health Check

A third eye that not only pinpoints irregularities but also prescribes the right remedy.

In-House AML Compliance Department Setup

Assembling a trusted inner circle, only the most astute shall guard your reputation from ML/FT crimes.

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AML/CTF Amendment Act 2024 and the Tranche 2 Timeline: From Reform to Enforcement

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ML/FT Risk Management: The Watchful Eyes of Second Line of Defence
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KYC vs KYB: Everything You Need to Know in under 5 Minutes!
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The Essential Elements of an AML-CFT Policy

The Designated Non-Financial Businesses and Professions (DNFBPs) and Virtual Assets Service Providers (VASPs) operating in the UAE are required to ensure compliance with the UAE federal laws designed to combat Money Laundering, Financing Terrorism, and Proliferation Financing (ML/FT and PF). For this reason, they need to have in place an adequate and effective AML Compliance framework. This AML framework includes crafting Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) policies, procedures, systems, and controls.

When crafting AML/CFT policies, DNFBPs and VASPs need to know the essential elements that not only cover compliance requirements but also safeguard their businesses.

The essential elements of policy that DNFBPs and VASPs must be aware of include:

ML/FT risk identification and assessment
Customer acceptance and exit policy
Group oversight
SAR/STR reporting
Confidentiality and prohibition against tipping off
Staff screening and training
Governance
Record-keeping
Sanctions compliance program

DNFBPs and VASPs must be aware of these essential elements when implementing their AML/CFT policies so that they are in compliance with regulatory requirements and also effectively combat financial crimes, including ML/FT and PF.

By watching this video, you will learn about the essential elements of an AML/CFT policy required for implementing an effective structure that helps businesses strengthen their defences against financial crimes.