AML Compliance Services in UAE
Let's Talk
Free Consultation
AML COMPLIANCE SERVICES IN UAE FOR BETTER PREPARED BUSINESSES
Anti-money laundering rules in the UAE apply to a wide range of businesses, not just banks. Elevate helps Designated Non-Financial Businesses and Professions (DNFBPs) and other regulated entities put the right policies, training, and reporting in place, across Freezones, Mainland, DMCC, and ADGM, with particular experience in gold and jewellery, real estate, and other non-financial sectors.
WHY AML COMPLIANCE MATTERS
AML penalties in the UAE range from AED 50,000 to AED 5,000,000, and can include suspension of a business licence. Getting the setup right from the outset is considerably less costly than fixing it after a finding.
WHO MAY NEED AML SUPPORT?
Designated Non-Financial Businesses and Professions (DNFBPs):
- ➔Real estate brokers and agents.
- ➔Dealers in precious metals and stones.
- ➔Independent legal professionals and accountants.
- ➔Providers of corporate services and trusts.
Financial institutions, including banks, exchange houses, insurance providers, and licensed investment or securities firms, are also in scope, though Elevate's AML advisory work is focused on the DNFBP sectors listed above.
PRACTICAL COMPLIANCE AREAS
Policy & Procedure Support
We help businesses develop and review relevant AML/CFT policies, procedures, and internal controls based on their applicable requirements.
Compliance Documentation
Our team can assist with organising and reviewing relevant records and supporting documentation.
Risk Assessment Support
We provide guidance on documenting business risks and establishing an appropriate internal compliance framework.
Training & Awareness
We support AML/CFT awareness initiatives to help employees understand their responsibilities and internal procedures.
Compliance Review
Our AML compliance services can include a structured review of relevant policies, documentation, and processes to identify areas requiring attention.
Core AML/CFT duties
- ➔Appoint a Money Laundering Reporting Officer (MLRO).
- ➔Put internal AML/CFT policies, procedures, and controls in place.
- ➔Carry out customer due diligence and client screening.
- ➔Prepare periodic AML reports.
- ➔Provide AML/CFT training for staff.
INDUSTRY-SPECIFIC GUIDANCE
Certain business sectors may have additional compliance considerations. Elevate provides focused advisory support for businesses operating in areas such as:
SECTOR FOCUS: GOLD, JEWELLERY, AND REAL ESTATE
Gold, jewellery, and real estate are two of the sectors we work with most often, given the higher money-laundering risk regulators attach to both. Our Gold & Jewellers AML page and Real Estate AML page go into the sector-specific detail; in short, we help businesses in these sectors set up due diligence, record-keeping, and reporting processes that match what UAE regulators expect for their sector.
Keeping up with a changing regulatory landscape
UAE AML/CFT rules are updated regularly. We monitor changes on behalf of our clients and flag what's relevant, so compliance stays current without you having to track every regulatory update yourself.
Our AML services
- ➔goAML registration.
- ➔AML/CFT policy, procedure, and controls drafting.
- ➔AML/CFT awareness and training programmes.
- ➔AML audit reports.
- ➔Risk assessments, gap assessments, and periodic reviews.
- ➔Support during AML inspections.
HOW OUR SUPPORT WORKS
Understand
We review your business activities, existing documentation, and applicable compliance requirements.
Assess
We identify areas where your current policies, procedures, or documentation may need attention.
Advise
We provide practical recommendations based on the scope of the engagement.
Review
Where required, we can review updated documentation and provide further advisory input.
WHY CHOOSE ELEVATE?
-
UAE Experience
Our team understands the UAE business and regulatory environment and supports companies across different sectors.
-
Practical Guidance
We focus on clear recommendations that businesses can understand and incorporate into their internal processes.
-
Documentation-Focused Support
From policy documentation to compliance records, we help businesses organise the information needed for their internal framework.
-
Ongoing Advisory
Regulatory requirements can change. We can provide continued advisory support when businesses need to review or update their compliance framework.
FREQUENTLY ASKED QUESTIONS
They generally involve professional support around understanding applicable AML requirements, developing policies, maintaining documentation, conducting internal reviews, and building staff awareness.
An AML compliance framework brings together the policies, procedures, responsibilities, documentation, and internal controls a business uses to meet its applicable requirements.
Yes. Changes to business activities, operations, ownership, or applicable requirements may call for a review and update of existing policies and documentation.
AML focuses on measures addressing money laundering, while CFT relates to measures addressing the financing of terrorism. Both form part of the UAE's broader compliance framework.
Yes. We can review relevant policies, records, and documentation within the agreed scope and provide practical guidance on areas that may need attention.
Requirements can apply to businesses and professional activities designated under UAE AML regulations. The specific obligations depend on the nature and activities of the entity.
Yes. Elevate can provide AML/CFT policy support, including assistance with preparing and reviewing relevant policies, procedures, and internal controls.
Yes. We can review relevant documentation and processes within the agreed scope and highlight areas that may require further attention.
Yes. We can support AML/CFT awareness and training initiatives designed around the responsibilities relevant to your business.
The appropriate review frequency depends on the business, its activities, and applicable requirements. Businesses should also review their framework when there are relevant regulatory or operational changes.
Start With A Clearer Framework
Have questions about your AML/CFT requirements or existing documentation?
Speak with Elevate Accounting & Auditing for practical guidance on your compliance framework.
Talk To Our Advisory Team*Our Scope of Support
Elevate Accounting & Auditing provides AML/CFT advisory, policy drafting, training, and audit support to help businesses meet their own regulatory obligations under UAE law. We are not a regulator, we do not file reports to the UAE Financial Intelligence Unit on a client's behalf, and we do not act as a client's appointed Money Laundering Reporting Officer. Each client remains responsible for its own AML/CFT compliance, reporting, and record-keeping; our role is to advise, review, and support that process.