Before onboarding any employee, the organisation must conduct Employee Due Diligence to ensure that it does not pertain any risk to the organization. It is important to check the identity and background proof of employees before hiring them. By providing adequate training to employees, it would act as a line of defense, helps in keeping money laundering risks at bay and contribute towards making the organisation compliant with AML. This video highlights the importance of Employee Due Diligence.

This video focuses on the Enhanced Due Diligence (EDD) which is an advanced/ extended form of Customer Due Diligence, wherein additional checks are required to be done to manage the increased financial crime risks. The regulated entities (Financial Institutions, DNFBPs and Virtual Asset Service Providers) are required to undertake robust and rigorous version of CDD when it involves high risks customers. This video will help you understand what is EDD, situations when EDD is to be performed and measures to be applied. Following measures can be adopted to be performed as part of EDD.

The video provides essential insights into the coverage of the AML training program. In order to succeed in fighting financial crimes, the reporting entity must get support from the top management and the employees. The employees must know various typologies and red flags to counter money laundering and terrorist financing. In this video, we will look at the critical topics that must be included in the AML training program of the entity.

• What is ML/TF, typologies, red flags, case studies
• AML/CFT laws and regulations in the UAE
• International organisations – FATF, UNSC, MENAFATF, etc.
• Enterprise-wide Risk Assessment
• AML/CFT Policy, Procedures, and Controls
• KYC, CDD, EDD, Customer Risk Assessment
• Transaction Monitoring
• Regulatory reporting requirements
• Governance Structure
• Sanctions compliance
• Record-keeping requirements

Financial Institutions, Virtual Asset Service Providers, and Designated Non-Financial Businesses and Professions (DNFBPs) must register on the goAML portal to fulfill their regulatory reporting requirements. In this video, we will look at the process of registering on the goAML portal.

• What is goAML portal
• The objective behind UAE FIU’s goAML portal
• Entities required to register on the goAML portal
• The two-stage process of goAML Registration
• SACM Registration – First Stage of goAML Registration
• Second Stage of goAML Registration
• Documents required for goAML Registration
• Regulatory Reporting on goAML Portal

Real estate agents, brokers, lawyers, and independent legal firms must report specified transactions related to real estate to FIU in the prescribed format called Real Estate Activity Report (REAR). This video will help you understand various requirements around REAR report submission.

• REAR applicability to Real Estate Agents and Brokers
• REAR applicability to lawyers and independent legal firms
• Circumstances warranting submission of REAR on the goAML portal
• REAR applies to buying and selling of freehold property only
• Monetary threshold around REAR submission for cash and crypto transactions
• Documents to be submitted along with REAR

Money laundering is a global concern, with an estimated 2-5% of global GDP being laundered every year. This video will help you understand the three stages of money laundering, viz., placement, layering, and integration:

1. Three stages of money laundering
2. Placement
3. Layering
4. Integration

This video will help you understand the importance of an AML/CFT program and how your policies and procedures should be defined to ensure reporting all suspicious activities and transactions to the UAE FIU.

• Identification of suspicious activities and suspicious transactions
• Procedures around Internal Suspicious Transactions Reoprt (STR) and Internal Suspicious Activity Report (SAR)
• Preliminary investigation by the compliance officer
• Decision to submit SAR or STR with the goAML portal
• Supporting Documents around SAR or STR
• Submission of SAR or STR on the goAML portal

This video highlights the important procedure around filing a Fund Freeze Report with the goAML portal. A fund Freeze Report must be filed with the FIU goAML portal when a regulated entity finds a match with the UNSC or UAE local list. It also highlights the importance of sanctions screening.

• What is a Fund Freeze Report
• When to file a Fund Freeze Report
• Sanctions Screening
• What to do when you find a confirmed match with the sanctions list
• Timeline for filing Fund Freeze Report

This video highlights the importance of knowing red flags around suspicious activities and suspicious transactions. It will help you distinguish between suspicious activities and suspicious transactions. Further, it provides information about the regulatory reporting requirement in the form of a Suspicious Transaction Report. It will help you understand when you are supposed to file STR with the goAML portal maintained by the UAE, FIU.

• What is STR
• Who is obligated to submit STR with goAML portal maintained by the FIU, UAE
• The distinction between a Suspicious Activity and a Suspicious Transaction (SAR vs STR)
• Red flags indicating a suspicious transaction
• STR submission

This video will help you understand the elements of an effective AML policy and procedures. Regarding AML/CFT policy and procedures, it is important to get it approved by top management. The video touches upon the important aspects around risk identification, risk-based approach, customer onboarding, identification and reporting of suspicious transactions, other reporting requirements, record keeping, governance, and targeted financial sanctions (TFS).