ADGM AML Compliance Services
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ADGM AML Compliance Services
Elevate Accounting & Auditing – Your Trusted Partner for ADGM AML Compliance
Navigating the complexities of Anti-Money Laundering (AML) regulations in the Abu Dhabi Global Market (ADGM) can be challenging. At Elevate Accounting & Auditing, we offer comprehensive AML compliance services tailored to the specific needs of businesses operating within ADGM’s financial ecosystem. Our expert team ensures that your business adheres to the stringent regulations set forth by the Financial Services Regulatory Authority (FSRA) and Federal AML laws, helping you mitigate the risks of financial crimes and protecting the integrity of your business.
Why ADGM AML Compliance Matters ?
The ADGM’s AML Rulebook is designed to combat money laundering and terrorism financing by imposing strict compliance requirements on financial and non-financial entities operating within the free zone. Adhering to these regulations is crucial to maintaining the reputation and operational stability of your business while avoiding penalties and regulatory action.
At Elevate Accounting & Auditing, we provide expert guidance to help you meet these requirements efficiently and effectively.
Our ADGM AML Compliance Services
AML Business Risk Assessment
Every ADGM-regulated entity must assess the money laundering and terrorism financing (ML/FT) risks associated with its business operations. We conduct comprehensive AML Business Risk Assessments for your business, considering factors such as
- Customers
- Products, services, and transactions
- Geographic risk
- Distribution channels
- Technological risks
Customer Risk Assessment & Due Diligence
A key element of AML compliance is assessing the ML/FT risk posed by customers. We ensure that your business conducts thorough Customer Risk Assessments by examining factors such as:
- Ownership and control structure
- Business nature and purpose of the relationship
- Nationality, residence, and incorporation details
AML Policies, Procedures, and Controls
We help you establish and maintain AML policies, procedures, and controls that are fully compliant with ADGM’s regulations and federal laws. These policies are designed to mitigate financial crime risks and provide you with an ongoing, proactive approach to managing AML risks across all levels of your organization.
Appointment of Money Laundering Reporting Officer (MLRO)
As part of ADGM’s compliance requirements, businesses must appoint an MLRO to oversee the AML program. Our team assists you in the appointment of an MLRO, ensuring they meet the necessary criteria, including residency requirements.
AML Training & Awareness
FSRA mandates that employees handling AML compliance undergo regular training to stay up to date with evolving regulations. We provide tailored AML training programs that are specific to your business operations, ensuring all relevant staff understand the compliance requirements and their role in preventing money laundering and terrorism financing.
Reporting Suspicious Activities (SAR/STR)
Our experts guide you in setting up effective suspicious activity detection systems and ensure that all staff know how to report activities promptly to the Financial Intelligence Unit (FIU) via the goAML portal.
AML Record Keeping
Maintaining thorough and accurate records is essential for demonstrating AML compliance. We ensure that your business retains the necessary AML-related documents for a minimum of six years, as required by ADGM regulations. These records include:
AML Annual Return
ADGM entities are required to submit an AML Annual Return by the end of April each year, detailing your company’s AML compliance activities for the previous year. We provide assistance in completing and submitting this return on time, ensuring that your business meets all FSRA requirements.
Why Choose Elevate Accounting & Auditing for Your ADGM AML Compliance Needs?
Expertise in ADGM Regulations
Our team is well-versed in the ADGM AML Rulebook, as well as Federal AML laws, ensuring you receive accurate, up-to-date guidance
Tailored Solutions
We understand that every business is unique. We offer personalized solutions based on your company’s risk profile and industry requirements.
Risk-Based Approach
We help you adopt a risk-based approach to AML compliance, ensuring resources are allocated efficiently and risks are mitigated effectively.
Experienced Professionals
Our team consists of AML experts, including certified compliance officers and legal professionals, who bring years of experience in helping businesses navigate complex regulations.
Get in Touch
Elevate Accounting & Auditing is committed to helping your business stay compliant with ADGM’s AML regulations. Contact us today to learn more about how we can support you in achieving AML compliance and mitigating financial crime risks.