Trusted Anti-Money Laundering Review

The expert team at Bazaar Accounting & Management Advisors remains well-informed with regard to changing AML /CFT regulations in the UAE and globally.

Book Consultation

AML/CFT Review

With ever-growing Anti-Money Laundering (AML) / Counter Terrorism Financing (CFT) regulations across the world, the regulators are now emphasizing more towards having an agile and effective AML /CFT framework in place.

With our regulatory team, we perform risk-based AML /CFT Reviews to assess your AML /CFT Framework, recommend ways to ensure your AML /CFT-related controls are operating effectively by documenting the AML / CFT policies and deliver specialized sector-specific training to ensure that our clients are equipped to meet the changing compliance landscape.

0 +

Years of Collective expertise

0 +

Tailored Support, When and Where You Need It

We will conduct a thorough evaluation of your daily operations to see whether they comply with the national regulations for AML compliance review and CFT compliance each year.

Protocols for client onboarding, continuing surveillance, recordkeeping procedures, and employee training initiatives will all need to be reviewed.

We'll assess how well the current controls and rules are working and pinpoint any areas where improvements could reduce the risk of non-compliance.

It is also an opportunity to ensure all employees clearly understand their roles and responsibilities.

Interviewing front-line staff will provide insights into the real-world application of procedures.

Findings from this self-assessment will then form the basis of an action plan to strengthen your compliance framework over the coming year.

Factors to Consider in Our Review

When conducting your annual AML/CFT review, some of the key factors we will examine include:

How well do your know-your-client protocols assess money laundering and terrorist financing risks for new matters?

Do your electronic recordkeeping systems facilitate easy retrieval of identification documents and beneficial ownership information?

Are transactions being appropriately scrutinized against both internal risk ratings and external intelligence?

Are compliance training updates provided to all account representatives in a timely manner?

How can you further promote a culture where any suspicious activities are promptly escalated for investigation?

Obtaining fresh perspectives will be vital for a rigorous self-analysis. By conducting regular reviews of your compliance programs and procedures, we can ensure that you are doing your part to uphold the highest ethical standards.

Benefits of Maintaining a Robust Program

While compliance requirements involve ongoing diligence, maintaining a best-in-class AML compliance review provides significant benefits.

It reassures clients and the broader community that you are steadfastly mitigating illicit finance risks.

It also demonstrates to regulators your strong commitment to integrity, building trust in oversight of the critical work you do.

Perhaps most importantly, it keeps your practice protected by deterring those with ill intent and improving your ability to identify warning signs of malfeasance.

Most of all, observing both the letter and spirit of regulations ensures you are conducting business lawfully and ethically. For all of these reasons, our annual review process will continue enhancing this important function.

Choose BAM Advisors for Accurate AML/CFT Review

As trusted advisors in the UAE’s vital financial services industry providing expert accounting and bookkeeping services, we also recognize our role in supporting a well-regulated economy. By carefully conducting your anti-money laundering review each year, we reassure stakeholders that you are leaving no compliance stone unturned.

Our reviewers will tackle this assignment with attention and an open mind, hoping to improve your organization’s resistance to illegal exploitation in addition to meeting standards. It is an investment in your staff, your clients, and the legal systems in which you do business for the long run.