What must a business-wide AML risk assessment cover in the UAE?
A business-wide, or enterprise-wide, risk assessment is the study through which a firm identifies and understands the money laundering and financing risks across its whole operation. Under UAE law it must consider all relevant risk factors, including customer risk, country and geographic risk, and product, service, transaction and delivery-channel risk, before the firm determines its overall level of risk and the mitigation measures it will apply.
The assessment must be documented, retained and updated on an ongoing basis, and made available to the authorities on request. It also feeds directly into the firm’s internal policies, controls and procedures, which senior management must approve and keep proportionate to the nature and size of the business.
Legal Reference (UAE):
· Cabinet Resolution No. 134 of 2025 (Executive Regulations), Article 5(1): firms must identify, understand, manage and assess crime risks and consider all relevant risk factors.
· Federal Decree-Law No. 10 of 2025, Article 19(1)(a): the risk assessment study must be retained and provided to the Supervisory Authority on request.
For more details, consult the full text of the Executive Regulations or seek guidance from your AML compliance officer.