In the UAE, AML audit services ensure that businesses remain fully compliant with evolving regulations and avoid severe penalties. In 2024, businesses in the UAE were fined over AED 339 million for AML breaches—a clear signal that robust compliance is non-negotiable
A proper AML audit involves a deep review of your KYC (Know Your Customer) and CDD (Customer Due Diligence) processes, internal controls, suspicious activity reporting mechanisms, and record-keeping practices. The audit must confirm that your AML framework aligns with FATF recommendations, UAE Central Bank guidelines, and other regulatory mandate.
Key components include:
Verifying that CDD/KYC procedures are applied effectively—especially for high-risk clients and PEPs (Politically Exposed Persons).
Ensuring accurate and timely Suspicious Transaction Reporting (STR) through the goAML portal.
Assessing whether your AML policies, training, and risk management processes are implemented consistently and updated regularly.
Given the UAE's delisting from the FATF’s "grey list" in early 2024, maintaining a proactive AML compliance culture is essential not just for regulatory status but for preserving trust with global partner.
Performing an AML audit helps uncover gaps before regulators do. It strengthens your defenses against money laundering—protecting your license, reputation, and bottom line.
