Anti-Money Laundering (AML) in the UAE refers to a set of laws, regulations, and procedures designed to prevent the generation of income through illegal means. These measures require businesses to monitor transactions, report suspicious activities, and maintain transparent records to combat financial crimes effectively.

AML compliance is mandatory for all financial institutions and Designated Non-Financial Businesses and Professions (DNFBPs) in the UAE. This includes real estate brokers, dealers in precious metals and stones, law firms, accountants, and auditors. These entities must implement AML policies, conduct customer due diligence, and report any suspicious transactions.

Non-compliance with UAE AML regulations can result in severe penalties, including fines ranging from AED 50,000 to AED 5 million. In serious cases, businesses may face suspension of operations, license revocation, or even criminal prosecution leading to imprisonment.

Abdulla Al Mulla Auditing & Accounting (AM Audit) offers comprehensive AML compliance services tailored to your business needs. Our team of experts can help you:

• Develop and implement effective AML policies and procedures.

• Conduct risk assessments and customer due diligence. 

• Train staff on AML regulations and compliance. 

• Prepare and submit reports to the FIU via the goAML platform.

Partnering with AM Audit ensures your business remains compliant with UAE AML laws, safeguarding your operations and reputation.