Undertake CDD measures towards customers

CDD or customer due diligence is the act of performing background checks and other screening on the customer to ensure that they are properly risk-assessed before being onboarded.

You can outsource this activity to our well-practiced AML/CTF team to better evaluate your current and potential customers. Taking adequate CDD measures substantially reduces AML/CTF risks.

Identify & Assess Money Laundering & Terrorist Financing (ML/TF) risks

Why choose Al-Sharid for AML/CTF services?

Having got a well-practiced team of AML/CTF specialists that have been in the profession for years and contributed to the implementation of the previous AML/CTF regulations and now Federal Decree-law No. (20) of 2018 in UAE, our team are well-versed in the profession. Embodying the professional competences of professional skepticism, integrity, and due diligence, our team can delve deep within your processes, and address the AML/CTF risks and help you mitigate them to the lowest cost-efficient point possible.

Our approach to providing customer due diligence undertaking services

We match you with the AML/CTF compliance officer that is most experienced within your industry that can understand your clientele’s activities the most and do effective background and current activity checks of your current and potential customers.

The work of such an officer also gets reviewed from time to time by another experienced AML/CTF expert which ensures that appropriate work was done.

Our team eventually provides you with helpful recommendations to help you best achieve your AML/CTF objectives.

Our team of experts has the right experience and knowledge to help your company achieve its objectives

Is my business directly supervised by the Supervisory Authority in UAE?

The businesses that are under direct supervision are financial institutions, designated non-financial businesses and professions and non-profit organizations. They are the most affected by the provisions of this law. However, all businesses in UAE play a vital role in the prevention of money-laundering and terrorism financing activities in UAE.

What are the designated non-financial businesses?

Also known as DNFB’s, are businesses that are in one of the following industries: Real Estate Precious Metals and Stones Accounting and Auditing Services Company Service Providers