XCH starts its operation in United Arab Emirates from the beginning of 2016.
Our AML Specialists and Financial Services Advisors in Dubai can assist the entities regulated by DFSA (Dubai Financial Services Authority) to implement properly the FATF 40+9 Recommendations.
Our Anti Money Laundering and Financial Services Advisors can assist you as below:
· AML Audit
· Implementation of AML Strategy according to the organisation needs and requirements
· Due Diligence Procedures in accordance with the FATF 40 +9 Recommendations
· Risk Assessment Process
· Ongoing Monitoring Process of the Clients
· Implementation of AML Software which is designed by AML Specialists.
The United Arab Emirates is one of the members of the Co-operation Council for the Arab States of the Gulf (GCC). The GCC is a member of the FATF.
UAE is also member of MENAFATF.
The objectives of Middle East and North Africa Financial Action Task Force (MENAFATF) are to:
- To adopt and implement the FATF 40 + 9 Recommendations on combating money laundering and financing of terrorism and proliferation;
- To implement the relevant UN treaties and agreements and United Nations Security Council Resolutions;
- To co-operate among each other to raise compliance with these standards within the MENA Region and to cooperate with other international and regional organizations, institutions and agencies to improve compliance worldwide;
- To work jointly to identify issues of regional nature related to money laundering and terrorist financing, and to share relevant experiences and to develop solutions for dealing with them; and
- To take measures throughout the region to effectively combat money laundering and terrorist financing in a way that does not contradict with the cultural values, constitutional frameworks and legal systems in the member countries