AML UAE provides the following AML consultancy services in the UAE:

AML Policy Template for the VASP in UAE

AML policies, controls, and procedures documentation

Establishing an in-house AML Compliance Department

AML training

Selection of AML software

Annual evaluation report AML / CFT Risk Assessment

AML / CFT Health Check

Managed KYC & CDD Services and Regulatory reporting

Business Risk Assessment

AML / CFT policies, controls, and procedures documentation

Establishment of internal AML Compliance Department

AML Training

Selection of AML software

Annual evaluation report AML / CFT Risk Assessment

AML / CFT Health Check-up

Managed KYC & CDD Services and Regulatory reporting

Business Risk Assessment

Fill out the form to download AML Policy Template for the VASP in the UAE.

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Download Free AML Policy Template for Virtual Asset Service Providers

With the ever-increasing popularity of virtual assets and the element of anonymity, the virtual assets segment is prone to a high risk of being exploited by money launderers. Accordingly, the Virtual Asset Service Providers (VASP) are extremely vulnerable to money laundering activities and terrorism financing. The UAE Government has amended the original Federal Decree Law No. (20) of 2018 On Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations, vide Federal Decree-Law No. (26) of 2021, to make the AML/CFT regulations applicable to the VASPs as well.

To mitigate AML/CFT risks, VASPs in the UAE need adequate procedures and controls to safeguard their business from money laundering and terrorist financing risks. VASP should have comprehensive AML/CFT policies in place, commensurate to the nature and size of its business, to assist them in the identification of the risk, assess its impact and deploy the necessary measures to mitigate the risk.

Please note that Article 16.1 (d) of the Federal Decree Law No. (20) of 2018 requires the designated organization to develop internal policies, controls, and procedures to mitigate the identified ML/FT.

AML policies, controls, and procedures must be approved by senior management of the organization and applied harmoniously to all the branches, subsidiaries, and affiliates of the VASP. While documenting the internal policies and procedures, VASP should consider the FATF (Financial Actions Task Force) recommendations and the specific guidelines for Virtual Assets and VASP.

The AML policies, controls, and procedures adopted by the VASP should be relevant and capable enough to manage and mitigate the ML/FT risks to which the VASPs are exposed. These policies should be proportionate to the risks involved.

AML UAE provides a free AML Policy Manual to help you comply with the AML/CFT regulations applicable in the UAE.

Fill out the details in the form to download AML Policy Template for your VASP business.

Industries we serve

Virtual Asset Service Providers

Dealers in precious metals and stones (DPMS)

Auditors and accountants

Lawyers, notaries
and other legal professionals and practitioners

Real estate agents and brokers

Company and Trust service providers

Banks

Financial
companies

Insurance providers

Testimonials

The best part about AML UAE is their tailor-made approach to solving client’s AML/CFT-related issues based on their industry vertical, size, and business model. Their advisory and consultancy services for AML related processes and procedures helped us achieve a higher level of compliance with AML and CFT. They helped us with a range of AML services, including training, creation of AML compliance department, and preparing the frameworks. We are impressed with their services and would surely recommend them to others.

Real estate company, Manager

We hired AML UAE to help us with the training of our employees and senior management on risk profiling, identification of suspicious transactions, and other topics related to AML. We are happy with our decision to hire them since their AML expertise benefited us in multiple ways. Firstly, their training was customized to our business vertical of gems and jewellery. Secondly, their team of trainers consisted of AML specialists, financial analysts, policymakers, and strategists who made the sessions more insightful considering the complexities of AML and CFT. Thanks to them.

Gems and jewellery company, Director