AML Policy Development Services UAE

Yes, businesses subject to UAE AML/CFT regulations are expected to maintain appropriate AML policies, procedures, controls, risk assessment processes, customer due diligence procedures, reporting mechanisms and record keeping practices.

AML policies are required by regulated businesses and DNFBPs such as real estate brokers, dealers in precious metals and stones, corporate service providers, accounting firms, audit firms, legal consultants, financial institutions and other businesses covered under UAE AML/CFT rules.

An AML policy should include governance responsibilities, risk-based approach, customer due diligence, enhanced due diligence, UBO identification, sanctions screening, transaction monitoring, suspicious activity reporting, record keeping, staff training and independent review procedures.

AML policies should be reviewed regularly and updated whenever there are changes in UAE AML regulations, business activities, customer risk profile, ownership structure, internal controls or regulatory guidance.

Yes, DigitAffairs can review your existing AML policies and procedures, identify gaps, assess alignment with UAE AML/CFT requirements and provide recommendations or updated documentation where required.

Yes, AML policies should be customized according to your business activity, sector, customer profile, transaction risk, jurisdiction exposure and regulatory obligations. A real estate broker, accounting firm, DPMS business or VASP may each require different AML controls.