Accounting & Bookkeeping Services in Dubai
The UAE has built one of the region’s most robust frameworks to combat money laundering and terrorist financing. Anchored in Federal Decree-Law No. 20 of 2018 and Cabinet Decision No. 10 of 2019, these regulations align with global FATF recommendations and apply across all Emirates and Free Zones.
The National Anti-Money Laundering and Countering Financing of Terrorism Committee (NAMLCFTC), supported by the Central Bank and other regulators, ensures effective coordination and enforcement nationwide.
Both Financial Institutions (FIs) and Designated Non-Financial Businesses and Professions (DNFBPs) must comply with AML/CFT obligations. This includes:
KYC & KYB checks
Ongoing risk monitoring
PEP/PIP screening
Strong internal compliance frameworks
Failure to comply comes at a heavy cost. In fact, UAE authorities recently imposed over AED 339 million in fines for AML violations.
Under Article 15 of the AML-CFT Law, all FIs must report suspicious activities through the GoAML portal managed by the UAE Financial Intelligence Unit (FIU).
This system ensures:
✔ Real-time suspicious activity reporting
✔ Compliance with FATF Recommendation 40
✔ Secure communication with the FIU
Banks and lenders in the UAE expect businesses to prove they have effective AML measures in place, including:
KYC (Know Your Customer): verifying client identities
KYB (Know Your Business): verifying companies and Ultimate Beneficial Owners (UBOs)
Ongoing due diligence & transaction monitoring
PEP/PIP screening for politically exposed or influential persons
Without these measures, banks may reject or even close business accounts.
Every business must appoint a Money Laundering Reporting Officer (MLRO) who is responsible for:
Designing AML/CFT policies
Receiving and reviewing internal suspicious activity reports (SARs)
Filing external STRs via GoAML
Submitting periodic reports to senior management
The MLRO plays a critical role in ensuring both regulatory compliance and management oversight.
To build a strong AML/CFT framework, businesses should follow these steps:
Risk Assessment – identify potential ML/TF risks.
KYC/KYB Procedures – verify clients, UBOs, and conduct PIP checks.
AML/CFT Policies – document internal controls and workflows.
Appoint MLRO – assign a trained officer with reporting authority.
GoAML Reporting – implement a structured STR submission process.
Ongoing Monitoring – maintain internal logs and conduct reviews.
Staff Training – educate employees on AML detection and reporting.
Independent Audit – periodically test the effectiveness of AML controls.
The UAE framework mirrors FATF’s 40 Recommendations by emphasizing:
Customer due diligence
Risk-based compliance
Beneficial ownership checks
Suspicious transaction reporting
Institutional accountability
Adding PIP screening—similar to PEP checks—enhances risk sensitivity and strengthens due diligence.
Free Zones Example – DIFC & ADGM:
Entities operating in DIFC must comply with both federal AML/CTF laws and the DFSA AML Module.
KYC AML Guide
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Central Bank of the UAE
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taxadepts
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DFSA
In ADGM, you must appoint a dedicated AML officer and comply with both UAE and ADGM rules.
claritysolutions.ae
Ministry of Economy Oversight (DNFBPs):
DNFBPs are supervised by the Ministry of Economy, which enforces compliance including goAML registration, inspections, and penalties.
DFSA
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Ministry of Education
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AML UAE
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goaml.ae
At The Capital Zone, we simplify compliance so your business can focus on growth. Our AML Compliance Setup Service includes:
✅ Tailored AML risk assessments
✅ Full KYC, KYB & PIP screening solutions
✅ Drafting AML policies & supporting MLRO functions
✅ GoAML setup & staff training on STR filing
✅ Bank account onboarding support
✅ Ongoing compliance audits & updates
Let us build a future-proof AML/CFT framework aligned with both FATF standards and UAE regulations—so you stay compliant, avoid penalties, and earn back and client trust.
All Financial Institutions (FIs) and Designated Non-Financial Businesses and Professions (DNFBPs) must comply. This includes banks, real estate firms, accountants, auditors, dealers in precious metals, lawyers, and corporate service providers.
The GoAML portal is the UAE Financial Intelligence Unit’s online system for filing Suspicious Transaction Reports (STRs). All regulated businesses must register and use it to report suspicious financial activities.
Non-compliance can lead to heavy fines, account restrictions, license suspension, or even criminal liability. Recently, authorities imposed over AED 339 million in penalties for AML violations.
An MLRO is responsible for overseeing AML compliance within a business. Their duties include developing AML policies, receiving and reviewing internal suspicious activity reports, filing STRs through GoAML, and reporting to senior management.
PEPs (Politically Exposed Persons): individuals holding prominent political positions.
PIPs (Politically Influential Persons): individuals who may not hold office but still carry significant influence.
Both require enhanced due diligence because they present higher financial crime risks.
We provide end-to-end AML compliance services, including risk assessments, KYC/KYB setup, PEP/PIP screening, MLRO support, GoAML registration, training, and ongoing audits—ensuring your business stays compliant with UAE regulations.
Contact our team of financial experts for personalized assistance and support.
