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goAML

  • Enhancing Anti-Money Laundering Efforts with goAML

In the relentless pursuit of combatting money laundering and thwarting the financing of terrorism, the international community has harnessed the power of technology to create effective tools. Among these tools is the goAML system, a formidable initiative developed by the United Nations Office on Drugs and Crime (UNODC). This integrated system stands as a robust shield against illicit financial activities, enabling Financial Intelligence Units (FIUs) worldwide to receive, analyze, and distribute Suspicious Transaction Reports (STRs) with unparalleled speed and efficiency.

  • A Global Solution

goAML is not just an isolated solution; it’s a global movement. Financial intelligence units across the world rely on this system to strengthen their anti-money laundering (AML) and counter-terrorism financing (CTF) efforts. Among the nations at the forefront of embracing this cutting-edge system is the United Arab Emirates (UAE), proudly becoming the first Gulf country to implement goAML.

  • DNFBPs: Who Needs to Register on the goAML Portal?

Designed Non-Financial Companies and Professions (DNFBPs) play a pivotal role in ensuring the transparency and integrity of financial systems. If your company falls under the DNFBP category, registration on the goAML portal is not just a requirement; it’s a critical step in upholding AML and CTF standards. Here are some entities that fall under this category:

  1. Real Estate Firms: Brokers and real estate agents facilitating property transactions for clients.
  2. Auditing or Accounting Firms: Entities providing auditing and accounting services.
  3. Dealers of Precious Metals and Stones: Entities involved in single or multiple cash transactions exceeding AED 55,000, especially if transactions appear interconnected.
  4. Trust or Company Service Providers: Firms providing trust or corporate services.
  5. Legal Consulting Companies (Excluding Lawyers and Notary Publics): Companies offering legal consulting services.

 

  • Documents Required for Registration

To embark on your journey of registration on the goAML portal, you’ll need to ensure you have the following documents and information readily available:

  • Valid and active email address for the Nominated Person.
  • An active mobile number (UAE or international).
  • Supporting documentation for the firm and the nominated person, consolidated into a PDF file.
  • An authorization letter from the institution.
  • Information of the nominated person, who should be designated as an Admin and user in the system.
  • Valid Passport Copy.
  • Valid Residency VISA Copy.
  • Valid Emirates ID.
  • Valid commercial trade license.
  • Download and set up the ‘Google Authenticator’ application on your phone, which contains the password for the SACM protection system, changing every minute.

 

  • Our Expert Assistance

Navigating the intricacies of goAML registration and compliance can be a daunting task. Administrative fines for non-compliance can range from AED 50,000 to AED 1,000,000, making expert guidance and support essential.

Our dedicated team is here to guide you through the entire registration process. We ensure that all your documents are submitted securely and in compliance with the regulations, mitigating the risk of penalties. With our assistance, you can navigate the regulatory landscape with confidence and ensure your business remains on the right side of the law.

  • A Commitment to Transparency and Integrity

In a world where financial transparency and integrity are paramount, goAML stands as a beacon of hope in the fight against illicit financial activities. Registering on the goAML portal is not just a legal requirement; it’s a pledge to uphold the highest AML and CTF standards. Contact us today and let us help you fulfill this commitment with ease and precision. Your business deserves nothing less.