AML Compliance Services in Dubai, UAE
Governments across the globe have been taking measures to increase the scrutiny of AML/CFT processes and controls, to fight Financial crimes. Individuals and firms are required to comply with minimum standards; failure to keep up with the changing requirements can lead to penalties and legal consequences.
In December 2020, the UAE Cabinet adopted the formation of the Executive Office of the Anti-Money Laundering and Countering the Financing of Terrorism with an aim to follow the international requirements in this sector.
GSPU works as a consultant to conduct independent assessments of Anti-money Laundering, Combating the Financing of Terrorism & Sanctions Compliance Frameworks across multiple sectors. Our team of experts can help you in developing, Implementing, and enhancing your compliance regime for not only for Exchange Houses, Banking, and Insurance sectors but also for other Designated Non-Financial Businesses and Professions.
1. Anti-Money Laundering Compliance Advisory
With the continuous changes in the regulatory framework and more stringent AML Rules and regulations, it is becoming difficult for Financial institutions and DNFPBs to implement new regulations and design complete compliance framework.
We help our customers and provide advisory services on
- AML Governance Framework,
- Assurance Reviews and Agreed Upon Procedures
- Compliance Remediation,
- Financial Crime Prevention Framework.
2. Outsourcing of Compliance Function
Our experts in the function help clients with dedicated resource service for compliance. We are specialized in helping clients for
- Extended Due Diligence for your Customers
- Outsourcing of Screening services.
- Outsourcing of Risk Profiling of your customers
- Managing as Third Party for your Go AML Registrations
3. Regulatory Compliance Documentation
One of the important aspects of designing AML Compliance program for your organization is developing documentation for the function and regulatory reporting. Our team of experts will help our clients in :
- Designing and Documentation of Entire Compliance Program
- Developing AML – CFT Policies for your organization
- Preparing SOPs and Flow Charts of each functionality aligning with Money Laundering typologies relevant to your industry
4. A Due Diligence and Transaction Monitoring Software – KYC Portal
GSPU acts as an implementation partner for the global renowned Risk, Due Diligence and Transaction Monitoring Solution by KYC Portal. We help clients in Automating and implementing their Compliance Program through our KYC Portal.
Highlights of the KYC Portal:
- Compliance Operations and Management
- Real Time Reporting Dashboard
- Risk Based Approach Module
- Centralized KYC Processing
- Digital KYC through Video Interactions
- Automated PEP and Sanctions Check
- Transaction and Case Management Modules
5. Continuous Professional Development Trainings
GSPU provides specialized and customized training programs that’s suit all levels of the organization, based on the regulatory guidance and requirements.
Our Trainings includes –
- CPD Programs – Specially designed for Compliance Officers/MLRO`s and all employees working in the compliance department. CPD Programs ensure the participant is well equipped with AML/CFT global standards and Local regulatory
- Regulatory Rules and Regulations Training – GSPU provides specialized course on Regulatory rules and regulations based on Industry sector and supervisory authority like –
- Banking and Finance
- Insurance Sector
- Real Estate Sector
- Dealers in Precious metals and Stones