Introduction to UAE goAML Platform
The UAE government takes action against money laundering and terrorist funding. The introduction of the goAML platform plays a big role in this mission. Authorities in the UAE launched the platform after a national risk assessment. In 2018, new laws about Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) came into force. Mubarak Al Ketbi (MAK) Auditing always supports organizations with compliance.
What Is the goAML Platform?
The goAML system is a digital tool. Financial Intelligence Departments (FID) in many countries use it. The United Nations Office on Drugs and Crime (UNODC) made the system. The main purpose is to help financial intelligence units collect and review financial data. The platform helps fight crimes by checking suspicious activity.
Why Is goAML Platform Important?
The goAML platform provides important information to registered users. You can see the latest news about targeted financial sanctions on the system. The platform sends automatic emails to users when there’s an update. It also alerts users when new compliance steps are needed. Businesses get real-time notifications to help them follow the law.
Who Must Register on the goAML Platform?
All companies in the UAE that report to the Central Bank must use goAML. These companies must send reports to FID. The Ministry of Economy (MoE) in the UAE urges Designated Non-Financial Businesses and Professions (DNFBPs) to register. MoE runs programs to increase awareness about registration. Mubarak Al Ketbi (MAK) Auditing always guides businesses on registration steps.
Is There a Deadline for Registration?
The UAE government set a deadline for goAML registration. Many organizations needed more time during the pandemic. The last date was extended to April 30, 2021. Companies must finish their registration before the deadline. If you delay, you might not meet the AML reporting rules. The Ministry of Economy also said they would do field checks. These checks make sure companies follow every rule about goAML.
How Can You Register on goAML?
You need to use the Central Bank of UAE’s network to access the registration portal. The FID provides the portal for new registrations. After registering, the platform gives you a unique ID. You use this ID to log in and submit your information. The portal lets you choose to register as a company or as an individual. You must pick the right option for your business.
For more details, you can read the Central Bank of UAE’s goAML Registration Guide (PDF).
What Reports Do You Submit in goAML?
Registered users must send several reports through goAML. The most common reports include:
- Suspicious Transaction Reports (STRs): Companies send these when they see a suspicious transaction.
- Suspicious Activity Reports (SARs): Companies file these when they find unusual activities.
- Additional Information File (AIF): This is needed if authorities request more data.
- Enhanced Customer Due Diligence (ECDD): Submit this report when you do extra checks on a customer.
The main goal is to help FID track and investigate suspicious actions. The company’s managers must make sure all staff know about AML and CFT duties.
Checklist for goAML Compliance
Companies in the UAE must:
- Register on goAML before the deadline.
- Submit all required reports, such as STRs and SARs.
- Train employees about AML and CFT duties.
- Check updates from the platform and follow new rules.
- Keep records of reports and compliance actions.
Common Mistakes to Avoid
Companies often:
- Forget to update their details in the system.
- Miss new rules or fail to act on email notifications.
- File late reports and risk penalties.
- Neglect staff training on AML/CFT.
How Mubarak Al Ketbi (MAK) Auditing Can Help
Mubarak Al Ketbi (MAK) Auditing offers support for goAML compliance in the UAE. Our team helps you gather and prepare documents. We guide you step by step during the registration. We teach your staff about AML and CFT. We help you create a strong compliance record. We stay updated with new rules and inform you right away. If you want to cover all your bases, don’t let the grass grow under your feet—get in touch with Mubarak Al Ketbi (MAK) Auditing for the best compliance help!
- For more information, visit our office: Saraya Avenue Building – Office M-06, Block/A, Al Garhoud – Dubai – United Arab Emirates
- Contact/WhatsApp: +971 50 276 2132
