Consultancy

Learn how to navigate the world of cryptocurrencies

As per the UAE Federal Law, DNFBPs in UAE must develop effective AML/CFT policies, practices, controls, and procedures which includes KYC duties, execute transaction monitoring and report potential suspicious activity to prevent money laundering activities. Our team of specialists can assist you in this process to put in place an adequate risk and compliance program that meets UAE’s Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations Guidelines for Designated Non-Financial Businesses and Professions and also is fit for the type of business you operate and the size of your company.

Types of businesses included in DNFBP criteria according to FATF:
– Law Firms
– Tax & Accounting Firms
– Dealers in gold, other precious stones & precious metals
– Dealer in any saleable item of a price equal to or greater than USD 15,000
– Real estate Broker Dealers
– Trust and Company Service Providers. This refers to all persons or businesses that are not covered elsewhere under FATF recommendations, and which, as a business, provide any of the following services to third parties:
-acting as a formation agent of legal persons
-acting as (or arranging for another person to act as) a director or secretary of a company, a partner of a partnership, or a similar position in relation to other legal persons
-providing a registered office, business address or accommodation, correspondence or administrative address for a company, a partnership or any other legal person or arrangement;
-acting as (or arranging for another person to act as) a trustee of an express trust or performing the equivalent function for another form of legal arrangement
-acting as (or arranging for another person to act as) a nominee shareholder for another person

Our services include:
– Writing Policies
– Writing Procedures
– Enterprise Risk Matrix
– KYC & Client Onboarding Tasks
– Transaction Monitoring
– Money Laundering Reporting Officer (MLRO)
– Yearly Compliance Reports
– Assessment of existing AML Program