Things you should know about UAE goAML solutions!


The introduction of goAML software solutions is considered one of the main regulatory steps in the pathway of the fight against terrorist funding and money laundering. Depending on the national risk assessment done in UAE and the implementation of AML legislation which came into force in the year 2018 in the country, all regulatory authorities of the region emphasize the importance of the goAML platform and its usage by all remittance gateway and business entities.

The goAML software is one of the integrated digital platforms that is mainly used by financial intelligence departments around the world for collecting and evaluating financial data. The system was mainly developed by the United Nations Office on Drugs and Crime for being used by the financial intelligence units for data analysis for the prevention of all criminal activities.

Benefits of goAML KYC software
All the required updates and data in relation to the list of all targeted financial sanctions are available there for you on the goAML platform. It is a VAT compliance platform which can be used by all registered users as per goAML regulations. This platform has allowed automatic notifications to all registered users through an email about all updates on the sanction list and on compulsory compliance needs in this regard.

According to the guidelines provided by the Central Bank of UAE, every reporting entity in UAE is required to send varied reports to FID by accessing the goAML platform. In addition to that the Ministry of Economy in UAE has launched several awareness programs solely to urge for the registered Designated Non-financial business and professions to register on the goAML platform.

Recently, it has been mandatory for all kinds of businesses in the UAE to file for partial name match reports and funds freeze reports along with all suspicious transaction reports and suspicious activity reports. Get the power of this tax engine software for generating those reports. It does not matter whether you have a big enterprise or an SME, for keeping track of money laundering activities, all companies should screen consumers at the time of onboarding and the entire consumer lifecycle. Moreover, the tracking of all client transactions should be done.

The most important reason to have this along with the money transfer software is to protect the business from financial fraud. Other reasons include saving the reputation of the company from getting smeared and avoiding all chances of the company stakeholders getting imprisoned. Online goAML application effectively generates reports and saves time.

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