Business set up in the UAE holds great appeal. Undoubtedly, the UAE offers a plethora of lucrative opportunities for businesses, startups, and corporations. Emirates in UAE boasts an excellent business environment, granting access to global markets and fostering economic prosperity. As the 15th-largest global economic center, it serves as a pivotal hub for international trade.…
Task Force Confirmed. After spending two years on the global financial ‘grey list,’ the UAE has officially been taken off by the Financial Action Task Force (FATF). This significant development reflects the nation’s strong commitment to combating money laundering and counter-terrorism financing, and throughout the monitoring period. This accomplishment highlights the UAE’s dedication to maintaining…
Conducting an anti-money laundering (AML) audit is a crucial procedure for financial institutions to verify adherence to regulations and thwart money laundering and terrorist financing. When executed successfully, this audit plays a pivotal role in enabling an organization to recognize and address risks, bolster internal controls, and elevate the standards of customer due diligence practices.…
Terrorist Financing Terrorist financing is the covert provision of funds to individuals, groups, or organizations engaged in acts of terrorism directly or indirectly. This illicit financial activity is a critical component of the broader strategy employed by terrorists to carry out attacks, recruit members, and sustain their operations. Funds may be acquired through various means,…
AML (Anti-Money Laundering) and CFT (Counter Financing of Terrorism) are two pillars that form the foundation of a robust system that aims to safeguard financial institutions and economies from illicit activities. One crucial aspect of this defense mechanism is the AML/CFT Risk Assessment – an intricate process that unveils potential vulnerabilities and fortifies the walls…
Anti Money Laundering Services in Abu Dhabi, AML Services in Abu Dhabi and Dubai Ever wondered how Abu Dhabi, the capital city of UAE and the bustling city of growth and opportunities, keeps its financial system safe? Well, a big part of the answer lies in compliance with anti-money laundering regulations in the UAE. In…
Anti Money Laundering Consulting Services – The only animal that pays to live on this planet is the human. I mean, come on! To survive on the blue earth, we all need to be green. But to fully enjoy life and dive deep into the lavish pool, we need much water— specifically, money! We know…
The global financial and economic system, as well as society at large, are threatened by the crimes of money laundering and financing terrorism. To combat money laundering, financing of terrorism and other national security risks, anti money laundering legislation was passed. As per Article (15) of the AML Law No (20): “The Financial Institutions (FIs) and…
