Perfecting goAML Reporting for a Real Estate Agent: Meeting Deadlines Without Fail

Perfecting goAML Reporting for a Real Estate Agent: Meeting Deadlines Without Fail

AML UAE helped prepare and submit regulatory reports on the goAML platform for a business entity operating in the real estate sector in Dubai, UAE.

The client has a settled business as a real estate agent in the UAE, and with an increased customer base, the risk associated with customers and transactions escalated, increasing the volume of transactions that required reporting. All goAML reporting requirements were handled internally by the client itself, which often led to inaccurate filing and missing reporting deadlines.

Customer Goals:

Our client aimed to adhere to goAML reporting while consistently meeting deadlines. Their primary goal was to adopt an effective and simplified reporting process that focuses on timely reporting and minimising the risk of non-compliance.


As a real estate agent with an increasing volume of transactions, the client encountered numerous challenges in goAML reporting, including understanding complex reporting requirements, managing large data volumes efficiently, and navigating strict regulatory deadlines.

Perfecting goAML Reporting for a Real Estate Agent Meeting Deadlines Without Fail

Legal Background:

The real estate agent was governed by:

The AML/CFT framework in the UAE provides a list of Designated Non-Financial Businesses and Professions (DNFBPs), which includes real estate brokers and agents within its definition. It is mandatory for all entities working in the DNFBP sector to comply with the regulatory framework governing AML compliance in the UAE.

For this purpose and to combat ML/FT crimes, they need to implement robust measures that include prompt filing of regulatory reports as provided under the UAE’s AML/CFT regulatory framework.

Therefore, the client recognised the urgent need to adopt an effective reporting process that focuses on timely regulatory reporting and minimises the risk of non-compliance penalties.

Solution Provided by AML UAE Team:

AML UAE worked with the client and provided a comprehensive approach that encompassed data analysis, risk assessment, and deadline management.

The overall approach was to understand the company’s existing AML/CFT policies and procedures and then optimise them to ensure efficiency and cost-effectiveness. End-to-end process flowcharts for customer onboarding, ongoing monitoring, sanctions compliance, SAR/STR reporting and REAR reporting were drawn, and the new procedures were implemented to leave no room for confusion or delays.

From its vast experience in aiding regulatory reporting for clients, AML UAE provided tailored solutions to the client, enabling them to achieve goAML reporting perfection consistently.

Utilising advanced technology, industry expertise, and personalised support, we assisted the client in fulfilling their reporting obligations accurately and efficiently.

We helped meet AML Regulatory Reporting requirements by facilitating the following solutions for the client:

  • We conducted a thorough assessment of the client’s current processes and systems to identify any gaps in meeting goAML reporting requirements.
  • We helped the client implement automated systems for data collection, analysis, rule-based reporting triggers, and reporting that significantly streamlined the goAML compliance process.
  • We assisted in preparing, reviewing, and submitting the Semi-Annual Report by the Compliance Officer.
  • We aided in preparing and submitting the Suspicious Activity Report/Suspicious Transaction Report on the goAML portal.
  • We also helped prepare and submit additional regulatory reports such as the Real Estate Activity Report, High-Risk Country Report, Funds Freeze Report, and Partial Name Match Report.

End Result:

Through collaboration with the AML UAE Team, our client attained unparalleled accuracy and efficiency in reporting on the goAML portal.

The client experienced a significant improvement in operational efficiency. Previously, reviewing transactions and goAML reporting took an average of 5 days to complete, but they were now accomplished within one day, resulting in an 80% increase in process efficiency.

They successfully navigated regulatory complexities, met reporting deadlines without fail, and mitigated the risk of non-compliance penalties.

The guidance provided by AML UAE resulted in the timely submission of regulatory reporting and enhanced AML compliance capabilities, reinforcing their reputation as compliant professionals in the real estate industry.

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