As a member of the Financial Actions Task Force (FATF), the UAE is committed to combating money laundering and terrorist financing and detecting and deterring them.The Federal Decree Law No. 20 (2018) and compliance with the UAE Anti- Money Laundering (AML) Law applies to:
Businesses that fail to arrange the AML compliance by the deadline will face fines ranging from Dh50,000 to up to Dh1 million. Based on the provisions of the law and according to the assessment of the Supreme Committee for Combating Money Laundering, and Financing of Terrorism and Illegal Organizations the fines can be raised up to Dh5 million.
With our Outsourced Anti-Money Laundering Reporting Officer (MLRO)/Compliance Officer services our qualified and experienced experts keep your business in compliance through :
Step 1: Performing and Entity Risk Assessment(ERA) and impact assessment of GoAML on your business using a risk based approach
Step 2 :GoAML implementation, which covers the following:
Step 3 : GoAML Reporting:
At Fundforth, we let you decide the monthly/yearly fees based on your volume of transactions.
*Terms & Conditions apply: After considering a standard fee.