GoAML Compliance Services
Combating Financial Crime with Robust Reporting
The UAE utilizes the 'goAML' system to prevent money laundering and terrorism financing. Compliance is mandatory for Designated Non-Financial Businesses and Professions (DNFBPs) such as Real Estate Agents, Dealers in Precious Metals, Auditors, and Corporate Service Providers. We assist you in registering on the portal, setting up your compliance framework, and filing necessary reports to avoid hefty fines.
Why this matters
Failing to register for goAML or not reporting suspicious transactions (STRs) can result in fines starting from AED 50,000. Our service ensures that your AML policy is sound, your staff is trained, and your reporting is timely and accurate.
Service Features
Everything included in this package
GoAML Portal Registration
Development of AML/CFT Policy & Procedures
Appointment of AML Compliance Officer
Filing Suspicious Transaction Reports (STRs)
Filing Suspicious Activity Reports (SARs)
Annual AML Risk Assessment Report
Staff Training on AML Red Flags
Mock AML Inspections
How We Deliver Results
Registration
Completing the pre-registration and full registration on the Ministry of Economy and goAML portals.
Policy Creation
Drafting a customized AML policy manual tailored to your industry.
Risk Profiling
Conducting an Enterprise-Wide Risk Assessment (EWRA).
Reporting
Assisting the Compliance Officer in identifying and filing STRs/SARs.
Frequently Asked Questions
Who needs to register for goAML?
All DNFBPs (Real Estate, Gold Dealers, Auditors, Corporate Service Providers) and Financial Institutions.
What is an STR?
A Suspicious Transaction Report, which must be filed if you have reasonable grounds to suspect money laundering.
What happens if I don't comply?
Penalties for non-compliance are severe, ranging from heavy fines to suspension of your trade license.