Anti-Money Laundering (AML) Services in the UAE
The United Arab Emirates (UAE) takes financial transparency and crime prevention seriously. Given the rise of regulatory requirements and severe penalties for non-compliance, businesses need to meet anti-money laundering (AML) obligations.
At HHS Lawyers, we provide professional AML UAE services to keep your organization compliant with the latest anti-money laundering laws and regulations. Our certified anti-money laundering specialists assist businesses in effectively mitigating risks, avoiding penalties, and staying on the right side of the law. We provide AML UAE services for various entities such as financial institutions, real estate agents, gold traders, accountants, or any Designated Non-Financial Business or Profession (DNFBPs).
What Is AML Compliance in the UAE?
Anti-money laundering (AML) relates to processes and regulations that are designed to prevent the use of the financial system for laundering proceeds of crime. AML compliance is obligatory in the UAE for all of the following business sectors:
1. Financial institutions
2. Designated Non-Financial Businesses and Professions (DNFBPs): Regulated by the Ministry of Economy, these include:
- Real estate agents and brokers
- Dealers in precious metals and stones
- Lawyers, notaries, and other legal professionals
- Accountants and auditors
- Trust and corporate service providers
3. Virtual Asset Service Providers (VASPs)
Anti-Money Laundering Laws and Regulations
The UAE established a legal and supervisory structure conforming to international standards set by the Financial Action Task Force (FATF). The key anti-money laundering laws and regulations include:
- Federal Decree-Law No. (20) of 2018 on Anti-Money Laundering and Combatting the Financing of Terrorism (AML-CFT)
- Cabinet Decision No. (10) of 2019 concerning the Executive Regulation of AML-CFT Law
- CBUAE Guidelines on AML/CFT for financial institutions and DNFBPs
- The goAML system, operated by the UAE Financial Intelligence Unit (FIU), which all reporting entities must register with file Suspicious Transaction Reports (STRs).
Why AML Compliance Is Mandatory in the UAE
The Federal Decree-Law No. (20) Of 2018 on Anti-Money Laundering and Cabinet Decision No. (10) of 2019 require UAE businesses to establish strong anti-money laundering policies and procedures. The Central Bank of the UAE (CBUAE) together with the UAE Financial Intelligence Unit (FIU) carries out the enforcement of these regulations.
The failure to comply with anti-money laundering laws and regulations leads to:
- A warning notice.
- An administrative fine not less than (50,000) fifty thousand AED and not exceeding (5,000,000) five million AED per violation.
- The violator shall be prevented from working in the sector relevant to the violation.
- Suspending the managers, board members, members of the executive or supervisory management whose responsibility for the violation is proven.
- Suspension or restriction of practicing the activity or profession.
- Cancellation of the license.
Businesses require such a preventive framework that includes effective AML checking procedures, supporting documentation systems, structured training, and reporting mechanisms.
At HHS Lawyers, our anti-money laundering specialist can provide complete assistance while ensuring full compliance with AML regulations for your organization.
Our AML UAE Legal Services
We offer complete AML compliance and legal services for the protection of your business, fulfilling the local requirements, such as avoiding penalties, and so on.
1: Setting up the AML Compliance Program
We assist in maintaining AML policy and procedures that match the specifications for UAE.
Requirements include:
- An AML risk assessment
- Client due diligence (CDD) and enhanced due diligence (EDD)
- On-going monitoring procedures
- Record keeping systems
2: AML Documentation & Regulatory Support
Our team assists businesses (those operating in high-risk sectors or classified as DNFBPs) in preparing AML documentation which is required by regulatory bodies for license renewal or business setup purposes, including:
- Understanding compliance requirements
- Preparing internal policies and reports
- Liaising with regulators during inspections or audits
3: AML Training & Awareness
Our certified anti-money laundering specialists provide AML training for your staff so they understand their responsibilities under UAE laws. This helps businesses develop internal awareness and readiness to report suspicious transactions.
- The basics of money laundering
- Legal requirements for the UAE
- Use of goAML portal for reporting
- Internal reporting channels.
This training is important to create awareness in accomplishing your obligation under the CBUAE AML guidance.
4: AML Risk Assessments
Our team evaluates your business operations to detect money laundering vulnerabilities then creates a risk mitigation strategy which follows UAE regulatory guidelines.
5: Regulatory Filing and Reporting
Our team provides support for AML verification and Suspicious Transaction Reports (STRs) and GoAML platform filings maintained by the FIU while ensuring timely accurate submissions.
6: AML Audit & Health Check
We perform internal AML audits and health checks to determine your compliance level and inspection readiness for regulatory authorities.
Why Choose HHS Lawyers for AML Compliance in UAE?
- Qualified Experts: Work with certified or qualified anti-money laundering specialists.
- Updated with Laws: We stay aligned with all current anti-money-laundering legislation in the UAE.
- Client Centric: We provide solutions that are customized to your business type and risk profile.
- Complete Support: From documentation to training, we cover every detail of AML compliance.
- Cheap & Timely: Professional service is delivered on time and within budget.
Take Action Now
HHS lawyers are your trusted anti-money laundering specialist in the UAE and provide expert legal support to you. Contact our AML team today for more information.
Who Needs AML Services in the UAE?
Under the UAE laws, the AML regulations would apply to a wide range of businesses, including:
- Banks and financial institutions
- Companies in real estate
- Dealers in precious metals or stones
- Law firms and accounting firms
- Auditors and consultants
- Virtual asset service providers
Such businesses should keep all required documentation regarding anti-money laundering, conduct KYC, and report suspicious activities.
Anti-Money Laundering (AML) Documents Required
Businesses shall maintain record of:
- Customer identification documents (passport, visa, Emirates ID)
- Ownership structure and beneficial ownership details
- Risk assessment reports
- STR submission records
- AML training logs
We help organize and maintain all anti-money laundering documents as required for regulatory inspections and audits.
Certified AML Specialists at Your Service
The AML team at our firm consists of legal experts and regulatory consultants who hold certifications such as Certified Anti Money Laundering Specialist (CAMS). The team ensures your systems fulfill both the written requirements and the true intent of UAE anti-money laundering legislation.
Start Your AML Compliance Process Right Now
Don’t wait for a regulatory inspection or fine. Take a proactive step by working with the expert team at HHS Lawyers. Our team provides AML framework development services to startups and SMEs and large firms operating throughout the UAE.
Contact Us Today
To speak with an AML UAE legal advisor call us. HHS Lawyers provides professional AML obligation support to help you achieve complete peace of mind.
Frequently Asked Questions (FAQs) About AML UAE
Q1: What is AML in UAE?
AML (Anti Money Laundering) in the UAE, refers to all legal frameworks and practices aimed to prevent illegal financial and commercial transactions, activities of laundering money. It is governed under Federal Decree-Law No. (20) of 2018, and enforced by CBUAE, FIU, etc.
Q2: Do I need an anti-money laundering certificate in the UAE?
Yes, many regulated entities must obtain anti-money laundering certificates or clearance for legal operations. We help you prepare and apply for this certification.
Q3: What businesses are required to comply with AML laws?
AML regulations would apply to a wide range of businesses, including:
- Banks and financial institutions
- Companies in real estate
- Dealers in precious metals or stones
- Law firms and accounting firms
- Auditors and consultants
- Virtual asset service providers are the industries regulated under the anti-money laundering laws.
We assist all such sectors in fulfilling their compliance duties.
Q4: What does GoAML mean?
goAML is the official reporting platform in the UAE. The reporting entities which include financial institutions and designated non-financial businesses and professions (DNFBPs) use goAML to submit Suspicious Transaction Reports (STRs) and other AML-related filings directly to the FIU.
Q5: What are the consequences of non-compliance with AML regulations in the UAE?
Companies that fail to comply with Anti-Money Laundering (AML) regulations in the UAE can face severe legal, financial, and reputational consequences, including administrative and criminal penalties.
Q6: What documents are needed concerning anti-money laundering in UAE?
A business is required to obtain and maintain the customer KYC data, risk assessments, suspicious transaction reports (STRs), and training records on AML. We will help you compile and manage these records to ensure compliance with UAE anti-money laundering regulations.
