From Risk to Resilience: The Role of AML/CFT Compliance Officer
In UAE, AML/CFT Compliance Officer is usually tasked with the role to safeguard the Regulated Entity and to ensure reporting Regulatory Authorities.
Our AML Expert Dipali Vora has come up with a brief video that majorly covers the queries around the role of AML/CFT Compliance Officer, where she elaborates upon the following responsibilities of AML/CFT Compliance Officer comprising of tasks such as:
- Aligning organisation’s AML/CFT measures to meet UAE’s regulatory requirements
- Identifying through reviewing customer profiles, any suspicious transactions, activities, or red-flags linked to ML/TF
- Reporting of such suspicious activities and transactions to the UAE’s Financial Intelligence Unit – or FIU by filing various reports such as
- Funds Freeze Report (FFR)
- Partial Name Match Report (PNMR)
- High-Risk Country Report (HRC)
- Dealers in Precious Metals and Stones Report (DPMSR)
- Real Estate Activity Report (REAR)
- Ensuring that employees are trained to recognize and respond to financial crime risks
- Reporting to the Senior Management of the organization and
- Collaboration with the UAE Supervisory Authority
AML UAE’s latest video discusses all the nitty-gritty around AML/CFT Compliance Officer’s Responsibilities, guiding the Regulated Entity from Risk to Resilience!
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