The United Arab Emirates (UAE) has established itself as a global hub for business and investment. To maintain this position and combat financial crime, the government has implemented two crucial regulations: Anti-Money Laundering (AML) and Economic Substance Regulations (ESR). Understanding these regulations and their reporting requirements is essential for any business operating in the UAE.
Aimed at combating money laundering and terrorist financing. Businesses are required to implement customer due diligence (CDD) measures, identify and report suspicious activity, and maintain comprehensive records.
Introduced to ensure companies operating in the UAE with specific relevant activities demonstrate they have a genuine economic presence. This involves demonstrating adequate qualified employees, physical office space, and expenditures in the UAE commensurate with the level of activity undertaken.
Reduced Risk of Penalties
FTFAB’s proactive approach helps you avoid costly penalties for non-compliance.
Enhanced Transparency
Our support strengthens your AML/CFT efforts, promoting transparency and trust.
Streamlined Processes
We take the complexity out of compliance, allowing you to focus on core business activities.
Expert Guidance
Gain peace of mind knowing you have experienced professionals by your side.
At TFAB, our team of experts possesses in-depth knowledge of AML and ESR regulations in the UAE. We offer a comprehensive range of services to support businesses of all sizes:
We evaluate your existing AML/CFT program to identify any gaps and ensure compliance with regulations.
TFAB helps you develop and implement effective AML programs, including customer due diligence procedures, suspicious activity monitoring, and record-keeping.
We guide you through the ESR registration process and assist in preparing and filing your annual Economic Substance Report. .
Our team provides training to your staff on AML and ESR regulations, best practices, and reporting procedures..
TFAB provides ongoing support to ensure your business remains compliant with evolving AML and ESR requirements.
Failing to comply with AML and ESR regulations can lead to significant consequences
Don’t wait until it’s too late. Contact TFAB today and let our team guide you towards achieving and maintaining AML and ESR compliance in the UAE. By working together, we can ensure your business operates in a transparent and secure environment.
