The Role of AML Compliance Officer

It is the primary responsibility of an AML Compliance Officer to implement a robust AML/CFT program and ensure compliance with UAE AML rules and regulations. Other than that, the AML compliance officer’s role includes noticing and reporting in an unbiased, fair, and transparent manner any suspicious activity to the FIU, UAE.

With this comprehensive guide, we covered various aspects of the role of the AML compliance officer. These aspects align with the “Cabinet Decision No. (10) of 2019 concerning the implementing regulation of Decree-Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations.”

By going through this guide, you’ll learn about:

• Rules governing the appointment of an AML compliance officer
• Responsibilities of an AML compliance officer
• Governance issue of small organizations and its mitigation
• The compliance officer’s responsibilities to the government and duties to the employer
• Importance of hiring a compliance officer for businesses
• The role of the in-house AML compliance department and its setup

Dive into this booklet to deepen your understanding of the AML compliance officer’s pivotal roles and responsibilities in accordance with UAE law.