Risk Advisory

Anti Money Laundering Compliance

Detect. Prevent. Comply—your First Line of Defense Against Money Laundering.

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At ASC Global, we help businesses across the UAE stay compliant with evolving Anti Money Laundering (AML) and Counter-Terrorist Financing (AML CTF) regulations. As a trusted AML consultant, our team delivers end-to-end AML compliance services — from AML audit and risk assessment to policy drafting, staff training, and GoAML registration. Whether you're a DNFBP, real estate firm, or financial institution, our AML compliance UAE solutions are designed to keep you fully aligned with CBUAE and FIU-UAE requirements. Backed by 30+ years of advisory experience since 1995, ASC Global is a trusted AML compliance services consultant for businesses navigating today's regulatory landscape.

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Frequently Asked Questions

All financial institutions and DNFBPs (like real estate firms, accountants, and dealers in precious metals) are required to comply under UAE Federal Law No. 20 of 2018.

It is the online platform provided by the UAE Financial Intelligence Unit (FIU) for suspicious transaction reporting (STR/SAR). Registration is mandatory for regulated entities

Best practice recommends a yearly review, or earlier if there are significant regulatory or operational changes.

Yes. We provide on-site AML training programs customized to your industry and role level.

Annually, or after major business changes (new products, geographies).

Our Team is completely capable of providing e-learning covering all staff globally.

Federal Law No. 10 of 2025 (effective 14 October 2025) replaces the 2018 AML framework. It covers money laundering, terrorist financing, and proliferation financing. Personal liability for managers is now included. VASPs are explicitly regulated. No limitation periods apply to financial crimes.

Companies face fines up to AED 5 million per violation. Individuals face 1-14 years imprisonment. Managers have personal criminal liability. Average enforcement fine: AED 15 million. License suspension possible. Asset freezing up to 30 days by FIU.

GoAML is the FIU platform for reporting suspicious transactions. Registration is 2-stage: (1) SACM registration (5-10 days), then (2) GoAML portal registration (2-5 days). You receive a unique registration number required for all STR filings.

CDD is mandatory customer verification to prevent money laundering. Three tiers exist: Standard CDD (most customers), Simplified CDD (low-risk), Enhanced CDD (high-risk/PEPs). Documentation includes ID, address proof, source of funds, and beneficial ownership information.

Beneficial ownership identifies individuals controlling 25%+ of a company. Required steps: obtain ownership structure, identify all owners, collect IDs, verify source of funds, screen against PEP/sanctions lists. Update annually. Retain documentation 5+ years.

File STRs for suspicious activity (unusual patterns, high-risk indicators, PEP involvement, unclear source of funds). Timeline: Report to compliance officer within 24 hours; file to FIU within 3-5 business days. Identify suspicious activity within 72 hours.

EDD applies to high-risk customers: PEPs, high-risk jurisdictions, complex structures, cash-intensive businesses. Requirements: Senior management approval, deep investigation, source of wealth verification, ongoing monitoring, quarterly reviews. Proper EDD reduces regulatory audit risk.

Collect customer identification and screen against OFAC, EU, UN, FATF, and UAE FIU lists. Document results. If matched: report to compliance officer and file STR. Use automated screening tools with daily updates. Screen beneficial owners and directors too.

ESR requires businesses to conduct real operations in the UAE, not just serve as pass-through structures. Substance includes: real employees, physical offices, local expenditures, UAE decision-making, local bank accounts. Lack of substance triggers stricter AML requirements.

Required: AML policy, customer acceptance policy, CDD/KYC procedures, STR procedures, record retention policy, training program. Annual training for all employees. Role-specific training for compliance teams. Board oversight documented in minutes. Federal Law 10/2025 updates required.

VASPs (crypto providers) must register on GoAML, implement blockchain analytics, monitor transactions daily, comply with travel rule, maintain cold wallet controls, screen sanctions lists, file STRs for suspicious activity. Licensing required (VARA/SCA). Daily FIU reporting mandatory.

STR = Suspicious transactions (judgment-based, no fixed threshold, 3-5 day filing) CTR = Currency transactions AED 55,000+ (mechanical threshold, all entities report, timing varies) Both mandatory. STR non-compliance = AED 5M penalty. CTR non-compliance = AED 1M penalty.

Minimum 5 years from account closure or transaction completion. Best practice: 7-10 years (Federal Law 10/2025 has no limitation periods). Retain: CDD/KYC docs, STR files, monitoring reports, screening results, training records, board minutes, compliance policies.

Inspectors review AML policies, training records, customer files, transaction monitoring, STR records, GoAML registration, and governance. Common findings: incomplete CDD, weak monitoring, delayed STRs. Post-inspection: 30 days to remediate. Penalties: fines (AED 10K-5M), license suspension, criminal referral.

Annual compliance cost: AED 400,000–1,000,000 Non-compliance cost per incident: AED 3–12 million (fines, legal, remediation, reputational) Real data: Average AML fine = AED 15 million. ROI: Investing AED 500K to avoid AED 5M fine = 10:1 return.
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