Anti-Money Laundering Compliance
Over the past two years, since the introduction of AML/CFT Law governing DNFBPs & VASPs, we have prepared Compliance Manuals, conducted training, & acted as outsourced AML Compliance Consultants for 100+ Companies in the UAE. These include prominent Gold Refineries & Precious Metals Traders, top UAE Real Estate Companies, Crypto trading desks, & Virtual Assets Exchanges.
Our Compliance team carries relevant international experience & qualification & have worked on multiple engagements involving the development of AML Policies & Procedures, KYC Remediation for UAE Tier 1 banks, Compliance Monitoring & Testing for large banks in Kuwait and Bahrain, setting up CDD Utility & Transaction Monitoring & Sanctions Review team for a multinational bank, Defining and Designing AML Framework for Designated Non-Financial Businesses & Professions (DNFBPs) in the UAE.
Our Assistance
AKW Consultants hold a specialization in serving UAE-based firms. Since 2016, Our Compliance, Risk, and Governance Consulting team have led client engagements on AML Compliance and Due Diligence, Responsible Sourcing, Supply Chain Reviews as per the OECD Guidelines, Drafting Policies, Procedures, and Business Contracts, Compliance Monitoring and Sanctions Review, Risk Management, Corporate Governance, Forensic Investigations, and providing Outsourced Compliance Services. We have been instrumental in aligning the company policies to all regulations pertaining to anti-money laundering and terror funding.
AKW’s AML Advisory team is an association of Certified Anti-Money Launder Specialists (ACAMS), the International Compliance Association (ICA), Certified Fraud Examiners (CFE), Qualified AML Compliance Consultants, Subject matter experts, and is led by Ex-Director and Global Head of Client Due Diligence for AML Compliance, HSBC Middle East.
Our AML Compliance team has worked on multiple engagements involving the development of AML Policies & Procedures, KYC Remediation for UAE Tier 1 banks, Compliance Monitoring and Testing for large banks in Kuwait and Bahrain, setting up CDD Utility and Transaction Monitoring and Sanctions Review team for a multinational bank, Defining and Designing AML Framework for DNFBPs in the UAE specializing in the Real Estate sector, Gold and Precious Metal industry and Cryptocurrency Trading Companies in the UAE.
For the past two years since the introduction of AML/CFT Law, AKW has prepared Compliance Manuals, conducted training, and acted as their outsourced ‘AML Compliance Consultants’ for 50+ Companies in the UAE. These include prominent Gold Refineries & Precious Metals Traders, top UAE Real Estate Companies, Crypto trading desks, and Virtual Assets Exchanges spread over Dubai Mainland, DMCC, IFZA, SHAMS, and ADGM.
Industries we serve
Banks
Financial Companies
Insurance Providers
Auditors & Accountants
Real Estate Agents & Brokers
Precious Metals & Stone Dealers
Companies & Trusts
Legal Professionals
Virtual Asset Businesses
Services Include
- AML/CFT Health Check
- Conduct business risk assessment (BRA)
- Develop code of conduct and standard operating procedures
- Establish AML compliance framework within the AML / CFT Policy
- Assistance in KYC / CDD compliance
- Conduct enhanced due diligence
- Setup & train the firm’s internal compliance department
- AML Software selection & customization
- Conduct compliance audits on regular intervals
- Annual AML risk assessment report & bank questionnaires
- Transaction monitoring and DNFBP reporting on FIU portal
- Act as an outsouced AML compliance consultant
- Provide KYC remediation service to banks / SMEs
- Provide support during inspections
