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Are you ready with AML Compliance Framework?

Are you required and registered on GoAML system?

If yes, there are defined compliances that are mandatory for Designated Non-financial business and professions (DNFBPs) entities registered on the GoAML. These include the following:

  • Development and adherence to defined AML Policy and procedures
  • Implementation of Know your Customer (KYC) and enhanced due diligence process
  • AML training to the employees on conducting the KYC due diligence and customer risk assessment.
  • AML regulatory compliance for reporting guidance on suspicious activity and transaction reporting.

Read our previous post for details on who are DNFBP and why register on goAML?

The Ministry of Economy has been active in ensuring that the entities are adopting the compliance measures detailed in the legislations. Non-compliance would attract huge penalty.

How can MCA help you with AML Compliance?

MCA can assist in development of the AML Compliance Control Framework which ensures adherence to the AML and CFT compliance expected from DNFBP entities. Our expert team can assist you in gap analysis, AML policy development, effective KYC processes and tracking and reporting of suspicious activity.

Contact Details

Telephone (Dubai UAE): +971 4 3319501
Working Hours: 9AM – 6PM, Sunday to Thursday