AML/CFT Compliance Guidance Services in the UAE
Federal Decree No. (20) of 2018 is a fundamental pillar of the UAE’s AML/CFT efforts. This Decree stipulated the establishment of:
As implemented by Cabinet Decision No. (10) of 2019, Federal Decree No. (20) of 2018 has raised the effectiveness of the AML/CFT legal and institutional framework of the nation, in line with FATF requirements and recommendations.
The reporting and compliance under this Regulation have gained momentum with the introduction of the new GoAML Platform and strict guidelines from the Regulator.
It is mandatory for the following specified businesses to comply with the Regulations.
AML/CFT Compliance Services
Emirates Chartered Accountants Group[ECAG] - AML/CFT Compliance and Certification Services Dubai, UAE.
Call for Consultation
Ragesh Mattummal | Partner
Mob: +971 50 3578031
Failure to keep up with the changing requirements can lead to penalties and legal consequences.
An effective framework should be developed based on the guidelines provided by the regulator in compliance to the Federal Law 20 of 2018 and Federal Law 26 of 2021 amending certain provisions of Federal law 20, Cabinet Decision No. 10 of 2019, Cabinet Decision No. 58 of 2020, Cabinet Decision No. 74 of 2020 and the various guidelines, circulars, notices, and standards issued from time to time.
The pillars that help to build an effective AML/CFT Compliance Program can be categorized as under:
The team of experts at Emirates Chartered Accountants Group can assist in developing, implementing, and enhancing compliance regimes across sectors, viz:, Designated Non-Financial Businesses and Professions (DNFBP), Banking, Insurance, Exchange Houses, etc.
The awareness program will cover topics on the local regulatory standards, International standards & Industry best practices. A non-exhaustive list of topics that will be covered is mentioned below:
To ensure clients progress financially and socially.
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