The ultimate responsibility to comply with UAE AML regulations remains with the top management, but the AML Compliance Officer is responsible for implementing the AML/CFT program in the company, imparting training to the staff, submitting regulatory reports, and overseeing the compliance function. This video will help you understand the role of the AML Compliance Officer in the entity.
- Key responsibilities of the AML Compliance Officer
- AML/CFT program development and its implementation
- Regular updates to the AML/CFT policies and procedures
- AML training program
- Suspicious Transactions Report (STR) and other regulatory reporting
- AML/CFT Record Keeping
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