Anti‑Money Laundering (AML) Compliance
Protect your business and uphold the integrity of the UAE’s financial system with Honafaa’s expert Anti-Money Laundering (AML) Compliance services. We provide tailored solutions to navigate the complexities of AML regulations, ensuring robust compliance and minimizing your risk exposure.
Service Overview
Anti-Money Laundering (AML) compliance is critical for businesses in the UAE to prevent financial crimes, maintain the integrity of the financial system, and adhere to regulatory obligations. Honafaa offers comprehensive AML compliance services to help businesses establish and maintain robust frameworks, protecting them from legal repercussions and reputational damage. Our services are designed to address the specific requirements of UAE Federal Law No. 20 of 2018 and its implementing regulations.
- What It Is: A comprehensive service that designs, implements, and maintains your AML/CFT policies, transaction monitoring, and Suspicious Activity Report (SAR) filing processes.
- Why It’s Required: Under CBUAE’s AML/CFT Rulebook and FATF Recommendations, every licensed entity must detect, prevent, and report money‑laundering risks or face severe penalties.
- Who It’s For: Banks, fintech’s, trading companies, real‑estate firms, free‑zone entities, and any commercial business subject to UAE AML regulations.
What’s Included
Our AML Compliance Solutions Cover:-
- AML Policy Development – Drafting your bespoke AML/CFT manual aligned with CBUAE and FATF standards.
- goAML Registration & Reporting – End‑to‑end goAML system setup and SAR/STR submissions to UAE Financial Intelligence Unit.
- Risk Assessment & Transaction Monitoring – Design of risk‑based KYC/CDD programs and real‑time monitoring controls.
- Staff Training & Awareness – Certified workshops on AML/CFT obligations, red‑flag detection, and internal controls.
- Independent Compliance Audits – Periodic reviews of your AML framework and remediation roadmaps.
- Independent Compliance Audits – Periodic reviews of your AML framework and remediation roadmaps.
Required Documents
Please prepare and upload the following
Documents Required for AML Compliance
Trade License copy (Mainland/Free Zone/Offshore)
Memorandum & Articles of Association (MOA)
Shareholder and Board member passport & Emirates ID copies
Existing AML/CFT policy (if any)
Organizational chart with UBO details
Sample transaction reports or bank statements (last 3–6 months)
Proof of Business Address
UAE Regulations/Compliance
AML Compliance in the UAE
AML compliance in the UAE is governed by Federal Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism, and its associated regulations. These laws mandate that financial institutions and Designated Non-Financial Businesses and Professions (DNFBPs) implement robust AML programs, conduct due diligence, report suspicious transactions, and maintain detailed records. Honafaa’s services are designed to ensure full compliance with these regulations, including those outlined by the Financial Intelligence Unit (FIU) and other relevant authorities.
Why Choosing us?
Why Businesses Trust Honaffa for AML Compliance?
By choosing our AML compliance services, you align your business with a partner dedicated to safeguarding your operations against financial crimes and ensuring adherence to UAE regulations.
If you need further assistance or have specific requirements, feel free to let us know, Just Click Here.
Process (Step‑by‑Step)
How It Works?
Simple steps, full support — from start to finish and beyond,
24/7 Free Consultation
Our experts will guide you through the requirements, pricing, and timeline for your case.
We Handle Everything
We collect your documents, fill out all required forms, and submit them to the right authorities.
Approval & Verification
We follow up with UAE ministries and departments to get your approvals finalized.
Receive Your Docs
You receive your cleared, stamped, or attested documents via delivery or in person.
Frequently Asked Questions
FAQ
Clear answers to the most common questions we receive.
Anti‑Money Laundering (AML) Compliance
All financial institutions and Designated Non-Financial Businesses and Professions (DNFBPs) operating in the UAE must adhere to AML regulations. DNFBPs include real estate agents, dealers in precious metals and stones, auditors, accountants, and corporate service providers.
goAML is an integrated platform developed by the UAE Financial Intelligence Unit (FIU) for reporting suspicious transactions and activities. Registration is mandatory for all reporting entities to ensure compliance with AML laws and facilitate the monitoring and prevention of money laundering activities.
The registration process involves two main steps: 1. **Services Access Control Manager (SACM) Registration**: Register the Compliance Officer or Money Laundering Reporting Officer (MLRO) on the SACM portal. 2. **goAML Portal Registration**: Register the entity on the goAML portal using the credentials obtained from the SACM registration. Both steps require submission of relevant documents, including trade licenses and identification documents.
Non-compliance can result in administrative fines ranging from AED 50,000 to AED 5,000,000, depending on the severity of the violation. Repeated or severe breaches may lead to higher penalties and potential legal action.
STRs should be filed promptly upon detecting any suspicious activity or transaction that may be related to money laundering or terrorist financing. There is no specific frequency; reporting should be as needed based on the occurrence of such activities.
Yes, it is mandatory for relevant employees to undergo AML training to ensure they understand the regulations, can identify suspicious activities, and know the procedures for reporting them. Regular training helps maintain compliance and reduces the risk of violations.
The Compliance Officer or MLRO is responsible for overseeing the AML compliance program within the organization. Their duties include ensuring proper implementation of AML policies, conducting risk assessments, monitoring transactions, and reporting suspicious activities to the FIU.
This FAQ section is designed to provide clear and concise information to users seeking details about AML compliance in the UAE. For further assistance or specific inquiries, don’t hesitate to get in touch with our compliance team, or leave a question, and we will answer shortly
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