Defending your financial reputation

Anti Money Laundering Registration

 

AML refers to laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Even though anti-money laundering laws cover a limited range of transactions and criminal behavior, their implications are vast.

The minister of justice issued ministerial orders in November 2020 to establish money laundering courts in Sharjah, Ajman, Umm Al Quwain and Fujairah within the framework of the federal judiciary.

Each court will have major, minor and appeals circuits for hearing these types of crimes.

AML Registration

All businesses must register with the Financial Intelligence Unit (go AML) and also enroll themselves on the Committee for Commodities Subject to Import and Export Control system (Automatic Reporting System for Sanctions List).

Documents required for registration

  • Authorization letter
  • Copy of passport
  • Resident Visa and Emirates ID
  • Copy of trade license
  • Once the registration is complete, the business must take other AML and CFT measures as required by degree law.

How AM Audit can help in AML Registration?

Our team of experts can assist you with AML compliance and register for AML before the due date.

We understand the risks our clients face and offer a range of services to help them respond, including:

  • Risk assessments
  • Preparation of policies and procedures
  • Training and awareness
  • Know Your Customer (KYC) checks
  • Transaction reviews and investigations
  • Independent testing
  • Technology consulting

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