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).
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:
3. Virtual Asset Service Providers (VASPs)
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:
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:
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.
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.
We assist in maintaining AML policy and procedures that match the specifications for UAE.
Requirements include:
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:
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.
This training is important to create awareness in accomplishing your obligation under the CBUAE AML guidance.
Our team evaluates your business operations to detect money laundering vulnerabilities then creates a risk mitigation strategy which follows UAE regulatory guidelines.
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.
We perform internal AML audits and health checks to determine your compliance level and inspection readiness for regulatory authorities.
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.
Under the UAE laws, the AML regulations would apply to a wide range of businesses, including:
Such businesses should keep all required documentation regarding anti-money laundering, conduct KYC, and report suspicious activities.
Businesses shall maintain record of:
We help organize and maintain all anti-money laundering documents as required for regulatory inspections and audits.
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.
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.
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.
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.
Yes, many regulated entities must obtain anti-money laundering certificates or clearance for legal operations. We help you prepare and apply for this certification.
AML regulations would apply to a wide range of businesses, including:
We assist all such sectors in fulfilling their compliance duties.
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.
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.
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.