AML Compliance Requirements for Jewellers in the UAE
The worldwide campaign against terrorist funding and money laundering has been more intense in recent years, and regulatory agencies and governments throughout the world have been enforcing stringent regulations in a variety of industries. Under greater attention is the jewellery business in the United Arab Emirates (UAE), a prominent player in the worldwide gold and […]
The Role of Sanctions Screening in AML Compliance
Compliance with anti-money laundering (AML) regulations is more important than ever in this highly regulated financial world of today. Governments, corporations, and financial institutions are facing increasing pressure to stop financial crimes such as money laundering and financing of terrorism. As a cornerstone of every strong AML program, sanctions screening is one of the main […]
Gold Industry in the UAE: A Potential Money Laundering Avenue
In the international gold market, the United Arab Emirates (UAE) has made a name for itself. Due to its advantageous location, welcoming business climate, and strong infrastructure, the United Arab Emirates has emerged as a major hub for the trade and refining of gold. But this notoriety also has drawbacks, especially when it comes to […]
FATF Grey List and Blacklist: What You Need to Know
The Financial Action Task Force (FATF) plays a vital part in the complex realm of global finance by preventing money laundering and financing of terrorism. The FATF, acting as a global watchdog, uses several tools to fight financial crimes, but the FATF grey list and blacklist are particularly important ones. Their goal is not just […]
The Growing Importance of KYC and AML Integration
In the ever-evolving financial landscape, the integration of Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols has become increasingly significant. This importance stems from the need to combat financial crimes, ensure regulatory compliance, and foster trust in the global financial system. Below, we delve into the reasons behind the growing importance of KYC and […]