AML UAE has launched Anti-Money Laundering Compliance services in UAE to help Financial Institutions and Designated Non-Financial Businesses and Professions adhere to the legal requirements.
Latest Fintech Insights:Â Flushing Bank Announces Partnership with NYDIG to Offer Bitcoin Services
“We are extremely pleased to announce the launch of AML compliance services in UAE,” said Pathik Shah – CEO of AML UAE. “We are firmly focussed on enhancing our services and providing our clients flexible, expert solutions. We also remain dedicated to strengthening our collaborative relationships with our existing partners and intermediaries in the UAE.”
The new AML Consulting Services include the preparation of AML/CFT Policy and procedures as per the guidelines of the ministry. The AML consultants from AML UAE also assists businesses in setting up their in-house AML compliance department. AML UAE consultants also provide training in anti-money laundering compliance, including KYC, Screening, Risk Profiling, STR Filing, DPMSR report filing, PNMR and FFR filings. A periodical health check of the functioning of the AML department is necessary. AML UAE provides AML compliance gap analysis services, including reviewing existing AML policies and procedures and the implementation thereof.
Browse The Complete News About Fintech :Â Bankers NFT Drop Rated a Must-Have for Metaverse Collectors by Crypto.co
“The jewellers in UAE have placed AML compliance on a high priority, and to strengthen the practical application of measures to combat money laundering and financing of terrorism, we have conducted various webinars on AML compliance,” said Bhupesh Mehta – Vice President, AML UAE.
AML UAE is specialized in providing AML compliance services to Dealers in Precious Metals and Stones (DPMS), auditors, accountants, lawyers, notaries, company and trust service providers, and real estate agents.
“Our AML consultants are committed to supporting DNFBPs in UAE in achieving the desired standards in AML compliance by providing high-level training with a practical approach to customer due diligence and risk assessment,” said Pathik Shah.
As one of the most vibrant financial markets in the world, UAE is the home of thousands of expatriates, and millions of inbound and outbound transactions are handled by the banks and financial institutions of the country. The Central Bank of UAE and the Financial Intelligence Unit (FIU) have put in stringent controls to counter money laundering and terrorism financing. AML UAE is committed to supporting the Government in combating the bad actors and protecting the economy from financial crimes like money laundering.
Read More About Fintech News : XREX Acquires Money Services Business License from Canada’s FINTRAC
[To share your insights with us, please write to sghosh@martechseries.com]
