Businesses in the UAE are required to maintain robust and risk-based AML/CFT and CPF policies and controls.  

Our in-house AML Expert, Dipali Vora, broached upon the subject of  

• FATF Basics, such as what FATF is and its primary objectives 
  • What are FATF Grey  List and Blacklist 
  • Reasons for Grey List Updates 
• FATF Grey List Update and its Impact on Compliance Obligations​ 
• Action Items for FIs, DNFBPs and VASPs consequent to changes in the FATF Grey List in the context of the following AML, CFT and CPF Control Measures such as: 
  • Enterprise-Wide Risk Assessment (EWRA)  
  • AML/CFT/CPF Policies and Procedures 
  • Customer Due Diligence (CDD) Measures Concerning Customers or Suppliers Associated with FATF Greylisted Jurisdictions 
  • Recalibrating Configuration of AML Software Solutions 
• Challenges and Best Practices when integrating Grey List changes into the AML/CFT Program along with Practical Implementation RoadMap. 

Additionally, the webinar was packed with real-time scenario-based quizzes, engaging the audience.  

Watch the webinar recording on YouTube now and broaden your horizon regarding the essential role of FATF in combatting ML, FT, and PF risks on a global level while developing an insight into how the changes in the Grey List have a ripple effect on a business’s AML compliance obligations.  

The Re-KYC process is required to be carried out by Regulated Entities in UAE to update the KYC information of their existing customers periodically, developed on the fundamentals of the risk-based approach. Customer due diligence is a statutory obligation under Article 19(1)(b) of Federal Decree-Law No. 10 of 2025, with the detailed measures set out in Articles 6 to 15 of Cabinet Resolution No. 134 of 2025. Ongoing monitoring of the business relationship and its transactions is required under Article 19(1)(b) of Federal Decree-Law No. 10 of 2025 and Article 14 of Cabinet Resolution No. 134 of 2025.

Our in-house AML Expert, Dipali Vora, through our latest webinar, drew out the regulatory requirements, processes, best practices, challenges and measures to combat such challenges through the use of technology while conducting a Re-KYC process for a Regulated Entity. We have published the recording of the live webinar on YouTube so that audiences who missed attending the live event can benefit by referring to this recording, which contains insights into:

• Understanding triggers for initiating the Re-KYC process
• Understanding factors, developed with a risk-based approach while determining the periodicity for conducting Re-KYC of customers posing varying degrees of risk to a Regulated Entity
• The document collection requirements for Re-KYC and means to validate the same
• Understanding the Re-KYC best practices when dealing with high-risk customers
• Understanding the scope of automation while conducting Re-KYC through an AML Software Solution
• Getting a glimpse of the future of Re-KYC by implementing Perpetual KYC Software

Additionally, the webinar was integrated with live scenario-based quizzes, helping audiences gauge their knowledge about Re-KYC implementation.

Watch the webinar recording on YouTube now and enhance your understanding of the importance and role of Re-KYC in mitigating the ML, FT, and PF risks that arise after establishing business relationships with any customer.

Enhanced Due Diligence (EDD) process is a strategic tool which protects businesses regulated under the anti-money laundering (AML), combating the financing of terrorism (CFT) and combating proliferation financing (CPF) laws in the UAE, from money laundering (ML), terrorism financing (TF) and proliferation financing (PF) threats posed by high-risk customers. Enhanced due diligence for higher-risk customers and relationships is required by Article 5(c) of Cabinet Resolution No. 134 of 2025, under the core obligation in Article 19(1)(b) of Federal Decree-Law No. 10 of 2025. Politically exposed persons must be subject to the enhanced measures in Article 16 of Cabinet Resolution No. 134 of 2025, including senior-management approval and establishing the source of funds and wealth.

Recently, our in-house AML expert, Dipali Vora, explained the intricacies of EDD as a critical component of the AML/CFT/CPF compliance framework. Watch the recording of the webinar to gain valuable insights into: 

• AML/CFT/CFT compliance requirements in the UAE 
• Customer Due Diligence process as a significant component of AML/CFT/CPF compliance 
• Name Screening, Customer Risk Assessment and choosing the right type of due diligence based on customer risk profile 
• What, when and how of EDD, providing a complete roadmap, including benefits and best practices for effective EDD implementation 
• Importance of the Know Your Customer (KYC) process and its nexus with EDD 
• High-Risk customer onboarding cycle for a better understanding of how to efficiently manage high-risk customers such as Politically Exposed Persons (PEP), customers from high-risk jurisdictions, etc. 

In addition, the webinar is integrated with live quizzes to solidify your understanding of the EDD process.   

Don’t miss this opportunity to strengthen your understanding of EDD and its important role in ensuring robust AML/CFT/CPF compliance in the UAE. Watch the webinar today and enhance your business’s ability to navigate the EDD process successfully! 

Confused about what the process of Customer Risk Assessment (CRA) and Enhanced Due Diligence (EDD) entail? Look no further!

Strengthen your business’s defences against Money Laundering (ML), Financing Terrorist (FT), and Proliferation Financing (PF) risks posed by prospective customers and existing low-risk customers whose risk rating may shift to high-risk due to any fluctuation in their customer profile by taking appropriate ML/FT and PF risk mitigation measures.

Through this Webinar, our Anti-Money Laundering expert Dipali Vora has explained the nitty-gritties of the Customer Risk Assessment (CRA) and Enhanced Due Diligence (EDD) requirements under the Anti-Money Laundering/ Combating the Financing of Terrorism (AML/CFT) laws in the UAE.

Watch this Webinar and gain insights into:

• The meaning and importance of the CRA as an essential element of the Customer Due Diligence (CDD) process.
• Carrying out and implementing the CRA exercise through Customer Risk Profiling and deciding on the corresponding measures to be taken
• Red flags to look out for while conducting CRA
• Best Practices for conducting CRA
• When and how to conduct Enhanced Due Diligence (EDD) on High-Risk customers

Enhanced due diligence for higher-risk customers and relationships is required by Article 5(c) of Cabinet Resolution No. 134 of 2025, under the core obligation in Article 19(1)(b) of Federal Decree-Law No. 10 of 2025. The risk-based approach and the enterprise-wide risk assessment are required under Article 19(1)(a) of Federal Decree-Law No. 10 of 2025 and Article 5 of Cabinet Resolution No. 134 of 2025.

So, don’t let ML/FT and PF risks hold you back! Watch the webinar recording now and empower your business through effective AML/CFT compliance.

Want to explore the screening requirements in the UAE?

Want your business to stay safe in today’s challenging business environment and compliant with Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT) regulations, and Targeted Financial Sanctions (TFS) Compliance?

Then, you should watch our recent webinar video on YouTube!

The webinar endeavoured to dive deep into the concepts such as:

• How to screen the customers?
• When to screen the customers?
• What is Targeted Financial Sanctions (TFS)?
• What are sanction screening requirements in UAE?
• How to manage the TFS risk?
• What is PEP (Politically Exposed Person) Screening?
• What is Adverse and Social Media Screening?

The webinar also addressed the critical role played by the screening process for carrying out Sanctions Screening, Adverse Media Checks, and PEPs (Politically Exposed Persons) Screening to safeguard against the ML/FT and PF risks.

Check out the recorded session of the webinar, in case you missed the live session or you simply want to revisit any concept that grabbed your interest, using the on YouTube link given below.

Identity verification is a crucial aspect of the Customer Due Diligence Process to ensure the authenticity of the identity presented. Identity Verification is the process of confirming the prospect’s claimed identity by cross-referencing the given information with official government-issued documents such as an Emirates ID in the UAE.

Various methods of identity verification:

• Document verification
• Biometric verification
• Credit Bureau-Based Authentication
• Database Identification Methods
• Knowledge-Based Authentication
• Online Verification
• Two-Factor Authentication (2FA)
• Device Verification

The regulated entities must identify the suspicions related to money laundering or terrorism financing and report the same to FIU. It is very important to determine when the report is to be filed on the goAML Portal.

A Suspicious Activity Report (SAR) is to be filed when the regulated entities have reasonable grounds to believe any activity or transaction of the customer is related to any financial crime or money laundering/terrorist activities.

It is very important to understand the source of funds and the source of wealth of a customer to bring transparency to the transactions, as businesses deal with high-risk customers regularly, posing an increased risk of financial crimes. It is important to determine the financial position of the customer to identify the origin of the customer’s funds and get information about the possible connection with financial crime or any other criminal activities.

When the means of funds and wealth, as disclosed by the customer, do not align with the customer’s declared wealth, it indicates suspicious activity. It helps you identify whether the transaction proposed is aligned with the customer’s source of funds and wealth.