AML/CFT Guidelines and Events

Guidelines for Designated Non-Financial Businesses and Professions (DNFBPs)

The Guidelines are an important tool for DNFBPs to comply with the UAE’s AML/CFT laws and regulations. By implementing the requirements set out in the Guidelines, DNFBPs can help to protect the integrity of UAE’s financial systems.

Supplemental Guidance for Auditors

This guidance offers specific insights and best practices on how auditors can assess and evaluate AML/CFT measures within organizations, including conducting risk assessments, examining internal controls, verifying customer due diligence processes, and identifying suspicious transactions. It helps auditors understand their responsibilities in ensuring compliance with AML/CFT regulations and assists them in providing accurate and reliable reports on an organization’s adherence to these measures.

Supplemental Guidance for Dealers in Precious Metals and Stones

This guidance provides updates on regulatory requirements, insights into how these risks are changing, and useful tools for auditors to evaluate the adequacy and effectiveness of AML/CFT controls and procedures. It highlights the necessity for auditors to perform extensive risk assessments, verify strict adherence to relevant rules and regulations, and comprehend the distinctive features and warning signs connected with these illegal actions.

Supplemental Guidance for the Real Estate Sector

This guidance aims to improve the real estate industry’s capacity to identify and prevent illegal financial activity, guaranteeing compliance with AML/CFT laws and enhancing the sector’s overall integrity. It provides helpful guidance on how to carry out due diligence on customers and transactions, put in place efficient Know Your Customer (KYC) procedures, identify suspicious activity, and report it to the appropriate authorities.

Supplemental Guidance for Trust & Company Service Providers

The objective of this guideline is to give Trust & Company Service Providers the information they need to manage AML/CFT risks, comply with laws, and contribute to the overall integrity of the financial system.  It offers advice on how to thoroughly screen clients, comprehend beneficial ownership arrangements, put in place rigorous risk assessment methods, and identify and report suspicious activities.

Guidelines for Financial Institutions

These Guidelines aim to provide guidance and support to supervised financial institutions (FIs) in the UAE to help them understand and fulfill their statutory obligations related to AML/CFT and financing of illegal organizations. Developed jointly by the UAE Supervisory Authorities, these Guidelines outline the minimum expectations for FIs to consider when identifying, assessing, and mitigating ML, FT, and illegal financing risks. It is important to note that these Guidelines do not limit additional guidance or feedback that may be issued by the Supervisory Authorities for the supervised institutions within their jurisdictions.

To learn more, access the PDF by clicking the link

UAE Risk Assessment Outreach Program

This programme helps Designated Non-Financial Businesses and Professions (DNFBPs) have a better understanding of the ML/TF dangers facing the nation and the industries that are most at risk. By sharing this knowledge, the Outreach Programme equips businesses to improve their anti-money laundering and counter-terrorism funding policies and procedures.