فحص الجزاءات في الإمارات العربية المتحدة | AML UAE

Introduction

This tutorial provides a comprehensive guide on the requirements for sanctions screening in the United Arab Emirates (UAE) under anti-money laundering regulations. Understanding and complying with sanctions is crucial for businesses to avoid legal repercussions and maintain a good standing with regulatory authorities.

Step 1: Subscribe to the Executive Office for Sanctions Monitoring

• All individuals and entities in the UAE must subscribe to the Executive Office for Countering and Preventing the Spread (EOCN).
• This subscription allows you to receive timely updates on changes to the local terrorism list and the United Nations Security Council sanctions list.

Step 2: Conduct Sanctions Screening

• Sanctions screening can be performed manually or with anti-money laundering software.
• Focus on the following key identifiers for screening:
  • Name and aliases
  • Nationality
  • Date of birth
  • Place of incorporation or registration

Step 3: Evaluate Screening Results

• There are three potential outcomes from sanctions screening:
  1. Confirmed Match: The client is listed on a sanctions list.
  2. Partial Match: Some identifiers match, but further verification is needed.
  3. No Match: No identifiers match the sanctions lists.

Step 4: Take Appropriate Actions Based on Results

• Confirmed Match:

  • Freeze the financial resources of the listed individual.
  • Prohibit any further service or financial engagement.

• New Client with Confirmed Match:

  • Reject the individual and do not onboard them.

• Partial Match:

  • Suspend all business relationships with the individual until further instruction from the Financial Intelligence Unit (FIU) is received.

Step 5: Timely Reporting to the Financial Intelligence Unit

• In cases of confirmed or partial matches, report to the FIU within five working days. Include:

  • The identity of the listed person.
  • Details of the freezing measures taken.

• Utilize the goAML portal to submit reports:

  • Freezing Funds Report (FFR) for confirmed matches.
  • Partial Name Match Report (PNMR) for partial matches.

Step 6: Document Non-Matches

• If the sanctions screening results in no matches, maintain records of the "no match" outcome.
• Continue with the due diligence process as required.

Conclusion

By following these steps, businesses in the UAE can effectively comply with sanctions regulations under anti-money laundering frameworks. Regularly update your processes to reflect changes in sanctions lists and stay informed through subscriptions to relevant authorities. For more detailed information, visit AML UAE's website or reach out via email at info@amluae.com.