Anti Money Laundering
Review your business’s operations to guarantee alignment with UAE AML legislation and identify any compliance weaknesses.
Get Support From Experts
Anti-Money Laundering Consulting Services in UAE
Arabian Wingz provides a wide range of services related to Anti-Money Laundering (AML) compliance. Our team of experts brings extensive knowledge and experience to offer valuable support in every aspect of AML compliance. We have professionals from various fields, including AML specialists, financial analysts, compliance experts, economists, law enforcement officials, data scientists, and technology experts. They work together to make sure that we deliver high-quality consulting services throughout your entire AML compliance journey.
Our services focus on helping clients in the UAE follow the right AML policies, procedures, and risk management strategies. With our expertise in compliance, KYC (Know Your Customer) requirements, and risk management, we guide you in achieving better AML compliance.
How Arabian Wingz Ensures AML Compliance for Your Business?
Arabian Wingz helps your business to stay compliant with Anti-Money Laundering (AML) rules by incorporating local knowledge and global best practices. We offer support that keeps you ahead of changing regulations.
Customized Solutions
We provide services that are specifically designed to meet your business needs.
Expert Team
Our team includes professionals with a lot of experience in AML compliance across different industries.
Up-to-date Knowledge
We keep track of changes in AML laws to make sure that you are always informed and following the rules.
Full Support
We assist with everything from creating policies to training your employees on AML compliance.
Anti Money Laundering Regulations in the United Arab Emirates
The Anti-Money Laundering (AML) regulations in the United Arab Emirates (UAE) include several key laws and guidelines:
- Federal Law No. 20 of 2018: This law prevents money laundering, terrorism financing, and support for illegal organizations.
- Cabinet Decision No. (10) of 2019: This provides rules to help implement the law from 2018, specifically for preventing money laundering and terrorism financing.
- AML Guidelines for Certain Businesses: There are specific rules for non-financial businesses to follow to prevent money laundering and terrorism financing.
- AML/CFT Training programs
- Risk Assessment Matrix
- Evaluation of the Compliance Officer's reporting structure
- Review the training calendar to ensure all staff complete training as per the schedule
- Examination of STRs submitted to the Regulatory Authority
- Registration on the Go AML Portal
How can AML Risk Assessment Help Your Business
An AML Risk Assessment can be valuable for your business in the following ways:
- AML/CFT Framework, which includes policies and procedures
- KYC Forms along with Internal reporting documents
- Monthly/Periodic AML Compliance Review Reports
Our Comprehensive Services
Here is a comprehensive range of our AML Services:
AML Framework
Our AML Framework offers effective tools and strategies to detect and prevent illegal financial activities. It includes features like advanced monitoring, smart alert systems, customizable risk assessments, seamless integration, compliance with regulations, and comprehensive due diligence. With our proven expertise and worldwide reach, we help you strengthen your organization’s defense against financial crime and maintain financial integrity with confidence.
Independent AML Audit
Today, fighting money laundering and terrorist financing is more important than ever. Regulatory bodies around the world are leveling up their efforts to handle financial crime and are pushing financial institutions to improve their Anti-Money Laundering (AML) strategies. We offer an unbiased approach, with tailored solutions, providing comprehensive coverage, regulatory compliance, and increased efficiency.
Transaction Monitoring
Effective transaction monitoring is a vital defense against risks like money laundering, fraud, and terrorist financing. Our advanced Transaction Monitoring solution allows your organization to detect and address these threats, and guarantee compliance with regulatory standards to protect your reputation. With benefits like real-time detection, a customizable rules engine, and automated alerting, our solution provides the tools needed to protect your business from financial crime.
KYC Compliance
Nowadays, complying with Know Your Customer (KYC) regulations is crucial for building trust, reducing risk, and maintaining a strong reputation. At Arabian Wingz, we recognize how vital KYC compliance is to protect both your business and your customers. Our comprehensive KYC solutions provide the tools and expertise necessary to simplify customer onboarding, improve due diligence, and stay ahead of regulatory changes.
Penalties
- Federal Decree-Law No. (20) of 2018 deals with money laundering, terrorism financing, and funding illegal organizations, and its updates.
- Cabinet Resolution No. (10) of 2019 concerns the executive regulations of the decree-law and the related resolutions issued for its implementation.
If a business does not follow the rules set by the authorities or fails to provide the requested information to check if it’s following the law, it can face penalties. These penalties may include a fine ranging from at least 50,000 dirhams to up to 5 million dirhams. Other possible penalties include being banned from operating in the industry or having business activities or licenses suspended, limited, or canceled.
Benefits of Partnering with Arabian Wingz for AML Compliance Services
Here are some of the key benefits of partnering with Arabian Wingz for AML compliance services:
- Comprehensive AML/CFT Compliance Solutions: We understand that Anti-Money Laundering (AML) regulations are constantly changing, and our AML consulting services are designed to help clients stay up-to-date and compliant with the latest rules efficiently and effectively.
- Expert Network of AML Professionals: We have a strong network of experienced AML experts, compliance specialists, and regulators to help you quickly respond to new AML risks.
- Rapid Detection of Financial Crime Risks: Our team is skilled at spotting suspicious activities, customers, and suppliers. This helps us detect potential money laundering and terrorism financing risks quickly and allows for prompt action to reduce these threats.
- Proactive Compliance Monitoring: Our AML consultants continuously track updates to AML and CFT regulations, interpret government expectations, and make sure that our clients receive relevant, up-to-date services. This keeps you ahead of competitors in terms of compliance and protects your business.
- Peace of Mind: With Arabian Wingz managing your AML compliance, you can be confident that experienced professionals are handling the complexities for you and giving you peace of mind.
- Access to Industry Thought Leaders: By working with Arabian Wingz, you get access to expert AML advisors and industry leaders who bring global best practices to your compliance efforts, and guarantee you stay ahead of regulatory expectations.
- Tailored AML Solutions for All Business Sizes: Even if you are just starting your AML compliance journey or facing more complex regulatory issues, we provide customized AML consulting services that fit your business's specific needs, no matter your industry or size.
- Specialized AML Expertise Across Business Verticals: Our team of compliance professionals, business analysts, and risk management experts offers tailored services to help you manage the challenges that come with AML/CFT laws.
