AML & CFT Compliances

Protecting Your Business & Preserving Your Reputation.

At Covenant Business Solutions FZE LLC, we offer end-to-end AML (Anti-Money Laundering) and CFT (Combating Financing Terrorism) compliance services to help your business meet local and international regulatory obligations. With the UAE recently exiting the EU Grey List, maintaining AML standards is more crucial than ever for businesses operating locally or globally.

GoAML Registration & Reports Filing

All Designated Non-Financial Businesses & Professions (DNFBPs) in the UAE are required to register on the GoAML platform and submit reports of suspicious transactions.

AML & CFT Assessment & Compliance

Our team conducts a thorough risk-based AML assessment tailored to your business type, size, and geographic exposure.

We help you:

• Identify high-risk clients, transactions, and jurisdictions

• Develop and implement AML/CFT policies and procedures

• Align your internal controls with UAE Federal Law and FATF guidelines

• Maintain proper documentation to prove compliance during Audits

We assist you with:

• GoAML account creation and approval

• STR (Suspicious Transaction Report) and SAR (Suspicious Activity Report) filing with the FIU

• Ongoing support for system use and reporting obligations

• Ensuring full compliance with UAE’s FIU (Financial Intelligence Unit) requirements

AML KYC & Due Diligence

Implementing Know Your Customer (KYC) procedures is mandatory for every regulated business.

ESR & UBO Compliances

While not limited to AML, Economic Substance Regulations (ESR) and Ultimate Beneficial Ownership (UBO) compliance are closely aligned with financial transparency.

Awareness and education are key pillars of a strong AML system. As part of our social responsibility, we conduct training sessions and workshops for teams at all levels.

AML Workshops & Trainings

Our services include:

• KYC forms and verification processes for clients

• Enhanced Due Diligence (EDD) for high-risk customers

• Ongoing customer monitoring mechanisms

• Sanctions list screening and PEP (Politically Exposed Persons) checks

We offer:

• ESR assessments and report filing

• UBO identification, documentation, and registry

• Audit-ready documentation support

• Latest updates on ESR/UBO Laws

Our workshops cover:

• GoAML registration and Compliance

• AML Framework in the Corporate World

• Roles of Management/Compliance Officer

• KYC & Customer Due Diligence

• Subscription to UN sanctions/UAE Local List

• Automation of the AML process

• Hefty Fines & Penalties for Non-Compliance

Expert AML & CFT Compliance Services

Covenant Business Solutions ensures compliance with UAE regulations, focusing on risk assessment, training, and policy development for various industries, including real estate and financial firms.