AML-CFT Training Services in UAE

Financial Institutions (FIs), Designated Non-Finance Companies & Professions (DNFBPs), and Virtual Assets Providers (VASPs) are required to set up an effective UAE AML training program for the staff. Since providing AML training in the UAE is a legal requirement, compliance failure may attract hefty fines.

The key objective of an AML-CFT training program is to make the employees aware of their roles and responsibilities in the AML compliance framework. It is advisable to hire the best AML training services providers in the UAE such as Jitendra Chartered Accountants (JCA) to ease the complexities of training the employees.

Objectives of AML Compliance Training in the UAE

By hiring AML training services in Dubai for the staff, businesses can achieve the following objectives:

To train employees how to identify money-laundering and financing of terrorism (ML-FT) techniques and concepts
To make the team members aware of the organization’s AML-CFT policies, systems and controls
To make the staff understand their responsibilities such as reporting any suspicious activities or transactions to the AML compliance officer of the Money Laundering Reporting Officer (MLRO).
To make create awareness among the team members on their responsibilities in the company’s efforts to fight ML-FT

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JCA’s AML Training Sessions in Dubai

JCA offers the best AML-CFT training sessions in Dubai covering:

Awareness of UAE AML Laws and regulations
ML-FT red flags relevant to the industry and sector
Various stages and methods of money laundering
Significance of Know Your Customer (KYC) and KYC requirements
Training on Ultimate Beneficial Owners (UBOs)
ML-FT risks relevant to the organization
Customer Due Diligence (CDD) training
Sessions on Politically Exposed Persons (PEP)
Identification and reporting of suspicious transactions
Global and local sanctions
Enhanced Due Diligence (EDD) requirements

Key Elements of the Best AML Training Class in Dubai

We can guide you on how to create the best AML training program in Dubai and impart it to your employees. The best AML-CFT training session in the UAE will typically include the following components:

The company’s obligations under the UAE AML Law
Key ML-FT risks the organization is exposed to and their impact
Case studies to show how the AML-FT risk was identified and mitigated in real incidents
Steps to be followed to meet the organization’s AML duties
Teach the staff about the company’s activities and sectors that are more vulnerable to ML-FT risks
Training on administrative penalties for violating the AML-CFT laws

How Does Your Staff Benefit from Our AML Compliance Training Sessions in Dubai?

JCA’s AML training services in Dubai will enable your compliance team members to:

Understand the impact of new regulatory requirements on the company
Set up and adopt a risk-based approach
Explain the regulations to other colleagues and make them understand the consequences of AML violations in the UAE
Prepare internal AML program and assessment.