Navigating the complex landscape of Anti-Money Laundering (AML) regulations can be challenging for businesses operating in the dynamic economy of the United Arab Emirates. At Finjuris, we specialize in providing expert legal counsel and tailor-made solutions to ensure that your organization remains compliant with all relevant laws while minimizing risks associated with money laundering activities. Our team aims to align with UAE’s 12 strategic goals related to AML and CFT.
Anti-Money Laundering (AML), often known as anti-money laundering, is the process of carrying out transactions in order to transform unlawfully obtained funds into legal funds. Although your organization follows the standards, this does not imply that your partners and business associates follow the same AML compliance requirements as you. You bear the risk, especially in international commerce, that the businesses or persons with whom you do business are not in accordance with the government's anti-money laundering legislation. Due diligence investigations on your partners, suppliers, and customers are consequently critical.
Money laundering is the process of concealing the origins of illegally obtained money, typically by passing it through a complex sequence of banking transfers or commercial transactions. It allows criminals to enjoy the proceeds of their illegal activities without attracting the attention of law enforcement.
Money laundering generally occurs in three key stages:
This is the initial stage where illicit funds are introduced into the financial system. This might involve depositing cash into bank accounts, purchasing assets, or using front businesses.
The objective of layering is to obscure the origins of the money. This can be done through a series of complex transactions, such as moving funds between different accounts, using shell companies, or purchasing financial instruments.
In this final stage, the laundered money is reintegrated into the economy, appearing to come from legitimate sources. This may involve investing in legal businesses, purchasing real estate, or engaging in legal financial transactions.
Preventing money laundering is crucial for maintaining the integrity of the financial system and safeguarding society from the effects of crime. Money laundering can undermine financial institutions, distort international capital flows, and contribute to organized crime.
The UAE has established a stringent regulatory framework to combat money laundering and terrorist financing, including the Federal Decree-Law No. 20 of 2018 on Anti-Money Laundering, in line with global standards set forth by the Financial Action Task Force (FATF). Non-compliance can lead to severe penalties, financial losses, and reputational damage. Therefore, proactive measures in AML compliance are not just a legal requirement—they are essential for sustaining your business's integrity.
Federal Decree-Law No. (20) of 2018 On Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations (as amended by Federal Decree Law No. (26) of 2021),
Cabinet Decision No. (10) of 2019 Concerning the Implementing Regulation of Decree-Law No. (20) of 2018 On Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations (as amended by Cabinet Resolution No. (24) of 2022).
The Cabinet Decision No. (109) of 2023 On Regulating the Beneficial Owner Procedures
Cabinet Resolution No. (132) of 2023 Concerning the Administrative Penalties against Violators of The Provisions of the Cabinet Resolution No. (109) of 2023 Concerning the Regulation of Beneficial Owner Procedures
Cabinet Decision No. (16) of 2021 Regarding the Unified List of the Violations and Administrative Fines for the Said Violations of Measures to Combat Money Laundering and Terrorism Financing that are Subject to the Supervision of the Ministry of Justice and the Ministry of Economy,
Cabinet Resolution No. (74) of 2020 regarding the Terrorism Lists Regulation and Implementation of UN Security Council Resolutions on the Suppression and Combatting of Terrorism, Terrorist Financing, Countering the Proliferation of Weapons of Mass Destruction and its Financing, and Relevant Resolutions.
Our corporate presence along with our close associate law & legal consultancy firm in UAE, Europe, Singapore, India, USA, UK, Mauritius, Malta, Spain we ensure our clients that our services will be available to them in any corner of the world. We have something that traditional lawyers do not have. We possess knowledge related to the regulatory norms of multiple jurisdictions which makes it easier and convenient for multinational companies to work with us.
At Finjuris, we offer an extensive range of services designed to fortify your business against AML risks. Here’s how we can help:
Our experienced consultants conduct in-depth assessments of your existing AML policies and practices. We analyze your operational frameworks to identify weaknesses and ensure alignment with UAE regulations, helping your firm develop a culture of compliance.
We specialize in evaluating the unique risk profiles of our clients. By understanding the specifics of your industry, we develop tailored strategies that address potential vulnerabilities, ensuring robust defenses against financial crimes.
Our legal experts possess extensive knowledge of both local and international AML laws. We work closely with your team to create and implement comprehensive AML policies that comply with legal requirements and reflect your organization’s values.
To empower your workforce, we conduct interactive training sessions that educate employees on identifying and reporting suspicious activities. Our programs are designed to keep your team informed about the latest AML practices and regulatory changes.
The AML landscape is continually evolving, and so are the tactics employed by financial criminals. Our ongoing advisory services ensure that your compliance initiatives adapt to new regulations and emerging threats, always safeguarding your business.
With a deep understanding of UAE-specific AML regulations, our team is uniquely positioned to offer insights and solutions that suit your business’s needs.
We cater to a wide range of sectors including finance, real estate, and non-profit organizations, providing customized advice that reflects the unique characteristics of your industry.
Our approach goes beyond providing services; we strive to build lasting partnerships with our clients. Your success is our priority, and we are dedicated to supporting you on your compliance journey.
Financial institutions and businesses are under enormous pressure to comply with AML laws. Whether dealing with an immediate situation or dealing with compliance on a big scale, the company must devise a comprehensive plan to counteract the risk of non-compliance with local and international regulations.
Compliance with local and international AML regulations is not voluntary; rather, it is mandatory. Certain regulations may not directly support corporate growth, and balancing the two may be challenging. This is where we come in.
Finjuris Counsel FZ-LLC offers a wide range of services related to AML and CFT compliance. Our expertise, knowledge, and industry experience provide value to every service we provide to our clients. Our Anti-Money Laundering (AML) specialists, compliance specialists, financial analysts, technology enthusiasts, economists, regulators, strategic decision-makers, and law enforcement officials guarantee that you receive excellent AML advisory services throughout your AML journey.
We assist our clients in the UAE with the required Anti-Money Laundering services to help them attain a better level of AML compliance, using our competence in compliance, AML policies and processes, risk management, and KYC regulations. Our AML Experts are committed to making your AML compliance journey smooth, effective, and efficient. Our objective is to ensure your AML compliance so that you may focus on your goals of expanding your business potential.
The most significant advantage of working with Finjuris is having access to AML professionals that have vast expertise in AML consulting services, as well as industry thought leaders who provide value to your AML compliance with worldwide best practices in AML-related challenges.
As international lawyers in the field of white-collar crimes, our knowledge is not only limited to one jurisdiction but the entire global regulatory law, something that most AML services providers lack.
Our AML consulting services are custom made to assist clients from every business type, at any point of the AML lifecycle, and of any size in efficiently managing the risks of financial crime.
Our Anti-Money Laundering Consultants stay up to date on any changes to AML and CFT regulations and interpret the government's or regulators' expectations of our clients so that we can provide our clients with relevant AML consulting services at the right time, keeping them ahead of their competitors in terms of AML compliance.
We assist the most complicated business structures across the globe with their regulatory obligations, be it in the forex industry or the crypto industry.
In an era where financial integrity is paramount, it’s vital to have a trusted advisor by your side. Let us help you safeguard your business against AML risks and secure a successful future.
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