- info@arabianwingzuae.com
- +971566621785
- Mon - Sat 9:00 AM - 6:00 PM
FTA announces Corporate Tax Registration Deadline – 90 days from Date of Incorporation/MOA. AED 10k penalty for late registration.
AML Policies & Procedures
Arabian Wingz helps UAE firms in designing effective AML/CFT compliance frameworks
AML/CFT Policy, Controls, and Procedures Documentation
What is an AML/CFT Policies and Procedures manual?
An AML/CFT Policies and Procedures manual is a very important document that highlights the measures taken by a business to detect, monitor, and stop financial crimes. It highlights internal controls, reporting channels, and roles approved by senior management, and make sure that the UAE regulatory requirements are fully met. Having the document that reflects the current laws is a way of protecting the organization from legal breaches, financial losses, and damage to its reputation. This document is extremely important for business integrity and the practice of transparency over a long period.
Arabian Wingz offers end-to-end AML/CFT documentation services for UAE entities and guarantees that your compliance framework is both comprehensive and practical. We help in the design and updating of the policy structures that adhere to UAE regulations, and even their implementation. Our services will not only minimize your exposure to financial crime but also increase the level of trust that you have with regulators and your clients.
Our End-to-End AML Policy Drafting Services in the UAE
At Arbain Wingz, we develop efficient AML/CFT frameworks that support the expansion of your company while adhering to UAE regulatory standards. Here is a comprehensive overview of what we offer:
Risk Identification
In order to identify any potential exposure to money laundering activities, our consultants examine your financial operations with complete accuracy. We help you take proactive steps in advance to reduce risks by identifying high-risk areas in your processes, especially where financial flows take place.
Assessment of Existing AML Policies
After the risk identification, our professionals assess your existing CFT and AML controls. This step helps to evaluate your business’s efficacy and adherence to stringent UAE legal requirements. Thus, our informative insights help you update your current framework to make it more transparent, secure, and adaptable.
Gap Analysis
The comprehensive analysis of identified risks and current AML controls is connected by our gap analysis. We share our informational findings with prominent compliance stakeholders to promote better decision-making and practical implementation while highlighting the weaknesses and areas for improvement.
Creation of Appropriate AML/CFT Frameworks
Our experts create a customized AML program that is designed with alignment to your business. To strengthen your defenses and guarantee long-term compliance across all operations, we help you make the most of compliance controls, reporting protocols, and risk monitoring tools.
Refreshing the AML/CFT Manual
Businesses should make sure that their AML/CFT manual is up to date and applicable to their operations as part of maintaining compliance standards. Our professional experts help with reviewing and updating the manual at least once a year, depending on the size and complexity of the organization. The following elements need to be carefully considered during this refresh process:
- Emerging risks found through internal reviews, audits, or updated risk assessments, along with corresponding control improvements
- New guidelines and regulatory updates issued by UAE authorities or international bodies.
- Major operational or business changes that might require improving current AML/CFT procedures.
Comprehensive AML/CFT Laws Governing Businesses in the UAE
With complete adherence to the global AML/CFT best practices, the UAE has laid down strong legal measures to protect its comprehensive financial system. Here is a breakdown of some key governing regulations related to AML policy and procedures:
Federal Law No. 20 of 2018 on Anti-Money Laundering
This primary law defines the national framework for combating money laundering and terrorism financing. It:
- Criminalizes ML and Terrorist Financing (TF) activities and defines related obligations.
- Imposes obligations on Financial Institutions and DNFBPs: Customer Due Diligence (CDD) and Suspicious Transaction Reports (STRs) to the Financial Intelligence Unit (FIU)
- Grants supervisory authorities’ powers to enforce compliance
- Supports international cooperation on AML/CFT
- Specifies penalties for non-compliance and reporting failures.
Cabinet Decision No. 10 of 2019
Serving as the law’s implementing regulation, this decision enhances the operational aspects of compliance.
- Establishes a Risk-Based Approach (RBA) for risk identification and control.
- Introduces EDD requirements for high-risk clients and ongoing transaction monitoring.
- Requires a 5-year record retention period
- Mandates the appointment of a compliance officer to supervise AML/CFT measures.
- Strengthens regulatory expectations for record-keeping and reporting accuracy.
Risk Identification. Risk Control. Compliant
Complete AML/CFT services that reduce financial threats and push your organization toward compliance-led progress.
AML Compliance for DNFBPs (Real Estate, Precious Metals, CSPs, Legal & Accounting Firms)
The Ministry of Economy requires DNFBPs in the UAE to implement organized AML/CFT systems to identify and reduce financial crime risks. Companies compliance frameworks will be regulatory aligned if they add the following key features:
- A formal AML/CFT Policy Manual
- Extensive MLRO Reporting Mechanisms
- Regular Enterprise-Wide Risk Assessments (EWRAs)
- Gap Analysis Reports dealing with control deficiencies
- Independent AML Reviews or Audits
- Annual Compliance Strategy and Monitoring Plan
Failure to comply with these requirements may result in legal and financial penalties. Arabian Wingz offers end-to-end AML support for DNFBPs and helps businesses to be compliant while at the same time promoting a culture of transparency and integrity.
Why Choose Arabian Wingz For AML Compliance in the UAE?
We carry out regular evaluations of your AML/CFT systems and guide you through the transitions of business growth, new market penetration, or strategic changes. Therefore, this helps you to ensure the utmost compliance with UAE AML laws.
1
Our consultants consist of compliance experts, financial regulators, and legal advisors who mix technical know-how with industry experience and help you effectively reduce AML risks.
2
Having an in-depth knowledge of UAE AML laws as well as FATF guidelines, we are able to come up with programs that not only fulfill all the legal requirements but also simplify business operations efficiently.
3
We design personalized manuals and process guidelines for KYC, CDD, and EDD to support you in the efficient management of customer verification while at the same time having strong controls in place.
4
By adopting globally recognized AML frameworks, we not only help you reduce your risk exposure but also make sure that your compliance practices are long-lasting.
5
Our services cover more areas of compliance, which helps your business to create a comprehensive governance structure of 360° for your company.
6
Simplify Business. Maximize Potential.
Explore tailored solutions across 20+ services with expert guidance.
Enquire Now for Complete Business Support!
- Office No. 205, Al Kazim Building , Al Garhoud, Dubai, United Arab Emirates
- +971042297725
- +971 566621785
- info@arabianwingzuae.com
