Money laundering is a global concern, with an estimated 2-5% of global GDP being laundered every year. This video will help you understand the three stages of money laundering, viz., placement, layering, and integration:

1. Three stages of money laundering
2. Placement
3. Layering
4. Integration

This video will help you understand the importance of an AML/CFT program and how your policies and procedures should be defined to ensure reporting all suspicious activities and transactions to the UAE FIU.

• Identification of suspicious activities and suspicious transactions
• Procedures around Internal Suspicious Transactions Reoprt (STR) and Internal Suspicious Activity Report (SAR)
• Preliminary investigation by the compliance officer
• Decision to submit SAR or STR with the goAML portal
• Supporting Documents around SAR or STR
• Submission of SAR or STR on the goAML portal

This video highlights the important procedure around filing a Fund Freeze Report with the goAML portal. A fund Freeze Report must be filed with the FIU goAML portal when a regulated entity finds a match with the UNSC or UAE local list. It also highlights the importance of sanctions screening.

• What is a Fund Freeze Report
• When to file a Fund Freeze Report
• Sanctions Screening
• What to do when you find a confirmed match with the sanctions list
• Timeline for filing Fund Freeze Report

This video highlights the importance of knowing red flags around suspicious activities and suspicious transactions. It will help you distinguish between suspicious activities and suspicious transactions. Further, it provides information about the regulatory reporting requirement in the form of a Suspicious Transaction Report. It will help you understand when you are supposed to file STR with the goAML portal maintained by the UAE, FIU.

• What is STR
• Who is obligated to submit STR with goAML portal maintained by the FIU, UAE
• The distinction between a Suspicious Activity and a Suspicious Transaction (SAR vs STR)
• Red flags indicating a suspicious transaction
• STR submission

This video will help you understand the elements of an effective AML policy and procedures. Regarding AML/CFT policy and procedures, it is important to get it approved by top management. The video touches upon the important aspects around risk identification, risk-based approach, customer onboarding, identification and reporting of suspicious transactions, other reporting requirements, record keeping, governance, and targeted financial sanctions (TFS).

This video will help you understand the basic concepts around sanctions screening, what it is, what sanctions list to include as per UAE AML requirements, how to conduct sanctions screening, and more:

• What is sanctions screening
• UAE Local List and UNSC List
• When to conduct sanctions check
• The requirements around the EOCN mailing list subscription
• Sanctions screening process
• What to while dealing with sanctioned individuals and entities
• Partial Name Match and Fund Freeze Report Submission with the FIU goAML portal

This video focuses on the Know Your Customer (KYC) requirements under the UAE AML Regulations. It helps you understand various concepts and requirements around customer identification and customer verification. The video highlights various important aspects of KYC:

• What is Know Your Customer (KYC)
• KYC requirements for individual customers
• KYC requirements for corporates
• Why maintain a standardized KYC form

The ultimate responsibility to comply with UAE AML regulations remains with the top management, but the AML Compliance Officer is responsible for implementing the AML/CFT program in the company, imparting training to the staff, submitting regulatory reports, and overseeing the compliance function. This video will help you understand the role of the AML Compliance Officer in the entity.

• Key responsibilities of the AML Compliance Officer
• AML/CFT program development and its implementation
• Regular updates to the AML/CFT policies and procedures
• AML training program
• Suspicious Transactions Report (STR) and other regulatory reporting
• AML/CFT Record Keeping

This video will help you understand the key concepts surrounding the AML Business Risk Assessment (BRA), which is also known as the Enterprise-Wide Risk Assessment, Firm-Wide Risk Assessment, Entity-Wide Risk Assessment, or simply ML/TF Risk Assessment.

• The need for AML Business Risk Assessment (BRA)
• Risk-Based Approach
• Risk appetite
• Risk Factors to consider while performing EWRA
• The concept of gross risk and how to arrive at it
• Evaluation of controls and their effectiveness
• The concept of net risk or residual risk and how to arrive at it

This video will help you grasp the essential concepts around:

• Who the politically exposed person is, the Definition of PEP
• Who is covered within the definition of PEP, including the person himself and his associates
• What action you should take once you know someone is a PEP or associated with a PEP
• How to deal with domestic PEPs, foreign PEPs, and heads of international organizations.
• Why PEPs are treated as high-risk customers
• What are the deciding factors to conclude that a PEP carries high-risk
• How to manage ML/TF risks around PEPs
• What are the requirements for carrying out Enhanced Due Diligence (EDD) when working with Politically Exposed Persons
• Ongoing monitoring of transactions with PEPs