Everything you need to know about the goAML software solutions




GoAML comes under the list of buzzwords that have gained a lot of attention in recent times. It was originally developed by the United Nations, and has become an important tool in to fight against serious crimes such as money laundering, financial crimes and terrorism. GoAML is a fully integrated software that has been developed by the United Nations Office on Drugs and Crime. According to the reports of UNODC, more than 50 financial units around the world are usingthe software. 
 
What is the role of the goAML software?
 
The financial intelligence units process and analyse reports that had been made by the FUI as per the requirements of the anti-money laundering protocols. These reports had been recorded based on money laundering activities or terrorist financing. The goAML portal has been used by the UAE’s FIU to collect information and data about suspicious transactions which involve terrorism financing. 
 
Additionally, all the registered users have access to the latest information and updates regarding the targeted financial institutions. 
 
What are the documents required for goAML registration in UAE?
 
Here is a list of documents required for goAML registration: 
 
• The authorisation letter from the organisation in favour of the designated AML or CFT compliance officer 
• A valid and active e-mail address of the nominated person 
• An active mobile number 
• A copy of the resident visa, passport, and Emirates ID of the compliance officer 
• A copy of the commercial and trade license of the organisation 
• A valid commercial trade license  
 
 
Final Take!!!
 
Being a financial institution, one must ensure that the business complies with all the AML protocols and regulations. With the help of AML compliance software solutions, FIUs can easily prevent terrorist financing, money laundering, and all other financial crimes. goAML software solutions play a crucial role in preventing financial crimes. 
 

The consequences of non-compliance with the AML regulations can be severe therefore it is great to follow all the AML regulations to save yourself from the penalties and fines that have been incurred by the regulatory body for non-compliance of rules. 

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