What are the duties of an AML compliance officer in the UAE?
Under the Executive Regulations, the AML compliance officer of a regulated entity has a defined set of duties. These include monitoring transactions related to financial crime; reviewing records and receiving, examining and assessing suspicious transaction data; and deciding, in full confidentiality, whether to notify the Financial Intelligence Unit or to retain the matter with reasons recorded.
The officer must also review the entity’s internal AML/CFT systems and procedures, assess their consistency with the law and the entity’s level of compliance, propose improvements, and prepare periodic reports submitted directly to senior management, with a copy to the supervisory authority on request. Further duties include developing and documenting ongoing training programmes for staff, and cooperating with the supervisory authority and the Unit by providing requested data and access to records. The role demands independence and sufficient resources to be effective.
Legal Reference (UAE):
· Cabinet Resolution No. 134 of 2025, Article 22 - sets out the core duties of the compliance officer.
For more details, consult the full text of the Executive Regulations or seek guidance from your AML compliance officer.