About Us
Kaizen Compliance Consultancy is a strategic partner for organizations, offering tailored solutions to align their strategic objectives with day-to-day business and operational goals. Specializing in Anti-Money Laundering (AML) compliance services, Kaizen Consultancy places a specific focus on the UAE market. Our commitment lies in enhancing AML compliance in the UAE by providing comprehensive consulting services, ensuring strict adherence to regulations for combating the financing of terrorism.
With Kaizen, you can experience total peace of mind, knowing that your anti-money laundering compliance is in expert hands. We alleviate the burden of AML compliance through our consulting services, allowing you to concentrate on your core business activities. Our global services have assisted companies worldwide in reducing cycle time, increasing productivity, and enhancing the overall quality of service delivery and processes.
FAQ for AML Compliance in UAE
Money laundering is a process when the source of illegal money generated by tax evasion, corruption, criminal organisations is disguised and hidden from the authorities and is used for illicit gains. The importance of anti-money laundering cannot be overstated. It helps maintain the integrity of markets and financial institutions by preventing the kind of illegal activities that can destabilize them. It also protects businesses from being used as vehicles for money laundering, thereby safeguarding their reputation and ensuring their compliance with regulatory requirements.
GO AML is the anti money-laundering program implemented in UAE. This program aims at combating money-laudering and terrorist financing activities in UAE. Financial Institutiona and designated non financial businesses are required to comply with specific requirements to detect and report such suspicious activities.
Financial institutions such as banks, insurance companies, money service business are required to comply with the AML laws of UAE. Additionally some Designated Non-Financial Businesses and Professions like Real Estate, Dealers in precious metals and stones, and independant auditors must also comply with the AML rules and regulations.
Non compliance with the rules and regulations of the GO AML program in the UAE can have serious consequences including hefty fines, revoking licences and even criminal prosecution.
