Anti Money Laundering

Guardians of Integrity

Neeja Corporate Services and the Decades-Long Commitment to Anti-Money Laundering (AML) Vigilance

The Ripple Effect of Anti-Money Laundering

Step into the world of financial integrity and unwavering commitment, where Neeja Corporate Services has been at the forefront of Anti-Money Laundering (AML) services for decades. In an era where financial crimes cast a shadow on economic landscapes, our legacy goes beyond services – it’s a testament to the importance we place on safeguarding the financial ecosystems of our clients.

Anti-Money Laundering isn’t just a set of regulations; it’s a critical defense against the far-reaching consequences of financial crimes. Money laundering has a profound impact, not only on individual businesses but on the stability of entire economies. At Neeja Corporate Services, we comprehend the domino effect of money laundering and the pivotal role AML plays in breaking the chains of illicit financial activities.

Preserving Financial Integrity

Beyond mere compliance, Anti Money Laundering  Dubai measures are guardians of financial integrity. They shield businesses and financial institutions from becoming unwitting accomplices in the intricate web of illicit funds. Our team at Neeja Corporate Services understands the gravity of these measures and works diligently to fortify your financial defenses.

The Importance of AML Vigilance with Neeja Corporate Services

1. Mitigating Financial Risks

Money laundering fines Penalties poses tangible financial risks to businesses. The consequences range from legal repercussions to reputational damage. Neeja Corporate Services empowers your business to mitigate these risks by implementing robust AML measures, safeguarding your financial interests.

2. Global Compliance, Local Expertise

In an interconnected world, money laundering knows no borders. Our AML services are designed with a global perspective, yet we understand the unique intricacies of the local financial landscape. This dual perspective ensures that your business is not only compliant on an international scale but also well-attuned to local regulations and help you in Gratuity Calculator Dubai.

3. Embark on a Journey of Financial Security

Your business deserves a shield against the potential threats of financial crimes . Account firms in Dubai ( Neeja Corporate Services) be your partner in this journey, ensuring that Anti-Money Laundering measures are not just a requirement but a cornerstone of your financial security.

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AML-CFT Management & Consultancy

The UAE being a member of the MENA FATF is committed to the cause of making this society free of Money laundering, illegal money, and Terrorist funding & financing. Decree-Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations is the primary law for AML in UAE. The Cabinet Decision No. 10 of 2019 concerning the Implementing Regulation of this Decree-Law makes real estate agents and brokers subject to the AML law.

In addition, since July 1st, 2022, the Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU), have announced the introduction of new reporting requirements aimed at certain real estate transactions conducted in the UAE.

All real estate agents are obliged to file a Real Estate Activity Report (REAR) to the FIU for purchase and sale transactions of freehold real estate properties in the UAE that include any of the below three methods of payment, whether for a portion or the entirety of the property value:

  1. Single or multiple Cash payment(s) equal to or above AED 55,000.

  2. Payments that include the use of a virtual asset.

  3. Payments where the fund(s) used in the transaction is derived from a virtual asset.

Along with obtaining relevant documents of the buyer, seller, and the transaction, Real estate agents and brokers shall submit REAR on the GoAML platform, capturing details of such transactions about freehold real estate.

Real estate agents and brokers are also obliged to continue their compliance with AML-CFT requirements in the UAE. Submissions of REARs do not exempt them from their existing AML-CFT obligations to submit the following types of reports via GoAML.

  1. Suspicious Transaction Report (STR)

  2. Suspicious Activity Report (SAR)

  3. Funds Freeze Report (FFR)

  4. Partial Name Match Report (PNMR)

  5. High-Risk Country Report (HRC)

  6. High-Risk Country Activity Report (HRCA)

Why Choose Neeja Corporate Services for AML Vigilance?

1. Decades of Unparalleled Expertise

Our legacy is built on years of unwavering commitment and unparalleled expertise. Neeja Corporate Services has been a trailblazer in AML services, navigating the evolving landscape of financial regulations to ensure that our clients stay ahead of potential risks.

2. A Human Approach to Compliance

Anti Money Laundering UAE isn’t just about ticking boxes; it’s about understanding the human aspect of financial transactions. Our approach is personal, going beyond algorithms to detect potential risks. We combine technology with a keen understanding of human behavior, ensuring that your business is not only compliant but also resilient.

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Contact Us Today for Financial Resilience

Ready to fortify your business against the risks of money laundering? Contact Neeja Corporate Services today, and let’s embark on a journey where AML vigilance becomes a symbol of your commitment to financial integrity and resilience.

How Neeja Corporate Services can help

1. Register your Company in GoAML

Getting yourself registered in the GoAML website is a tedious process. At Neeja, we can help with this process through our trained and efficient staff. Provide us with the required Documents, and sit back and relax while we do the rest for you.

2. Serve as your AML-CFT Compliance Agent

Neeja can serve as your AML-CFT Agent whereby a dedicated Compliance Officer will be assigned to you who will assist with all your industry specific AML-CFT requirements:

  1. Develop customized and industry specific AML-CFT Policies
  2. Analyse & Assess Risks
  3. Develop Controls & Procedures to adhere to AML-CFT Policies
  4. Set up Documentation process to abide by the record-keeping requirements of the concerned Authorities
  5. Help with KYC & CDD/EDD Services
  6. Provide AML Training which will include
  7. What is AML/CFT, how to Identify risks and Suspicious Activities/Transactions, How to do Risk Scoring, How to conduct CDD/EDD, etc
  8. Help create a Compliance culture within the organization & Advise the Board on steps to improve AML-CFT compliance
  9. Prepare and submit Regulatory reports to the concerned authorities
  10. Assist in filing of STRs/SARs and process thereafter

3. Consultation on AML-CFT Compliance Corporate Governance & Adherence

In situations where you have your own in-house AML-CFT Team, Neeja will give you the added expert advise that you might lack and for this purpose provide you the following:

  1. AML-CFT Advice & Consultation
  2. Assess in-house Training
  3. AML-CFT Health Check (Gap Analysis)
  4. Provide guidance on AML-CFT Risk Assessments & Risk Scoring
  5. Manage KYC & CDD Services & Regulatory Reporting
  6. Annual Evaluation Report highlighting AML-CFT lapses/deficiencies
  7. Audit the Internal Compliance Department and provide CAPA reports
AML-CFT Compliance
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