Streamline your compliance processes with ease.
The primary purpose of goAML registration is to combat financial crimes, particularly money laundering and terrorism financing. This system enables authorities to track and analyze suspicious financial activities effectively.
The target audience for goAML comprises financial institutions, designated non-financial businesses and professions (DNFBPs), and virtual asset service providers (VASPs). This platform is designed to provide professional services to assist these entities in combating money laundering and terrorist financing.
goAML ensures the security of sensitive data through robust encryption measures and by conducting regular security updates and audits of protection system, thereby protecting against unauthorized access.
Users may encounter difficulties during the initial setup of goAML due to its complexity and time-consuming nature, often exacerbated by unclear instructions within the portal. It is crucial to seek clarity and assistance to navigate this process effectively.
goAML integrates seamlessly with existing compliance frameworks, enabling institutions to efficiently meet their regulatory obligations. This facilitates a more streamlined approach to compliance management.
goAML is an application designed to collect the financial crime-related details from the reporting entities for analysis and the statistical needs of the UAE FIU to fight against money laundering and terrorism financing.
goAML is an integrated software application developed by UNODC for use by the Financial Intelligence Units to collate information and fight against financial crime, such as money laundering and terrorist financing.
goAML registration ensures compliance with UAE Anti-Money Laundering (AML) regulations. Without registration, entities cannot file required reports, potentially leading to regulatory penalties and non-compliance issues.
Yes, goAML uses advanced encryption and regular security audits to safeguard sensitive data, ensuring its protection against unauthorized access.
All Financial Institutions, Designated Non-Financial Businesses and Professions (DNFBPs), and Virtual Asset Service Providers (VASPs) must register on the goAML portal.
DNFBPs include: Dealers in Precious Metals and Stones, Real Estate Agents and Brokers, Auditing and Accounting Firms, Lawyers, Notaries, and other legal professionals, Trust and Company Service Providers