{"id":925,"date":"2022-02-23T13:04:54","date_gmt":"2022-02-23T09:04:54","guid":{"rendered":"https:\/\/www.alamalexpressexchange.com\/?page_id=925"},"modified":"2025-06-19T17:23:55","modified_gmt":"2025-06-19T13:23:55","slug":"aml-ctf-policy-2","status":"publish","type":"page","link":"https:\/\/www.alamalexpressexchange.com\/ar\/aml-ctf-policy-2\/","title":{"rendered":"\u0633\u064a\u0627\u0633\u0629 \u0645\u0643\u0627\u0641\u062d\u0629 \u063a\u0633\u0644 \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0648\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0625\u0631\u0647\u0627\u0628"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"925\" class=\"elementor elementor-925\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-dba43a9 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"dba43a9\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\" data-e-bg-lazyload=\"\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-204caf1\" data-id=\"204caf1\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1b1ad2e elementor-widget elementor-widget-heading\" data-id=\"1b1ad2e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 26-03-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">AML CTF Policy <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-3699fed elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3699fed\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bfc5905\" data-id=\"bfc5905\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2b32456 elementor-widget elementor-widget-elementskit-faq\" data-id=\"2b32456\" data-element_type=\"widget\" data-widget_type=\"elementskit-faq.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"ekit-wid-con\" >\n                <div class=\"elementskit-single-faq elementor-repeater-item-5fc6a0b\">\n            <div class=\"elementskit-faq-header\">\n                <h2 class=\"elementskit-faq-title\">Introduction<\/h2>\n            <\/div>\n            <div class=\"elementskit-faq-body\">\n                <p>In the global marketplace, the attempted use of financial institutions to launder money is a significant problem that has caused great alarm in the local as well as the international community and has resulted in the passage of stricter laws and increased penalties for money laundering in UAE, Europe, United States, Australia, and many other countries. It has also spurred the formation of the Financial Action Task Force on Money Laundering, an intergovernmental body comprised of 39 members and 8 regional organizations established to coordinate the global battle against Money Laundering and Terrorist Financing.<\/p>\n            <\/div>\n        <\/div>\n                <div class=\"elementskit-single-faq elementor-repeater-item-b7cdff8\">\n            <div class=\"elementskit-faq-header\">\n                <h2 class=\"elementskit-faq-title\">The requirement to combat money laundering and terrorist financing<\/h2>\n            <\/div>\n            <div class=\"elementskit-faq-body\">\n                Money laundering and terrorist financing are global problems. Concerted attempts to prevent money laundering and terrorist financing are being made throughout the world by various governments and international organizations. These include the United Nations and the OECD Countries. The UAE\u2019s legislation and strategy is based on the regulations of the Central Bank of United Arab Emirates \u201cCBUAE\u201d and other international standards, best practices and initiatives. All financial institutions are required to play their part in preventing criminals and terrorists from using their products and services and in detecting and reporting suspicious activity(s)            <\/div>\n        <\/div>\n                <div class=\"elementskit-single-faq elementor-repeater-item-c910c84\">\n            <div class=\"elementskit-faq-header\">\n                <h2 class=\"elementskit-faq-title\">Our Compliance Team<\/h2>\n            <\/div>\n            <div class=\"elementskit-faq-body\">\n                Al Amal Express Exchange have a strong Compliance Team, the Compliance Officer is approved by the Central Bank of The UAE and the staff supporting him are CAMS Certified including our Risk Team. The Compliance Officer together with his Team are responsible for implementing the AML\/CFT Compliance framework.            <\/div>\n        <\/div>\n                <div class=\"elementskit-single-faq elementor-repeater-item-1357b4d\">\n            <div class=\"elementskit-faq-header\">\n                <h2 class=\"elementskit-faq-title\">What is \u201cknow your customer\u201d and why is it necessary?<\/h2>\n            <\/div>\n            <div class=\"elementskit-faq-body\">\n                Having sufficient KYC information and making effective use of that information underpins all other anti-money laundering procedures. It is the most effective weapon against being used to launder the proceeds of crime or for terrorist financing. It also offers protection against fraud, enabling suspicious activity to be recognized, and protects the Exchange from risks to reputation and finances.            <\/div>\n        <\/div>\n                <div class=\"elementskit-single-faq elementor-repeater-item-0b75d7a\">\n            <div class=\"elementskit-faq-header\">\n                <h2 class=\"elementskit-faq-title\">Monitoring transactions and activity<\/h2>\n            <\/div>\n            <div class=\"elementskit-faq-body\">\n                The most important safeguard against money laundering is the ability to detect suspicious transactions and activity. Once detected it is vital that further action is taken to report the suspicions and prevent recurrence of such activity.            <\/div>\n        <\/div>\n                <div class=\"elementskit-single-faq elementor-repeater-item-abcaf56\">\n            <div class=\"elementskit-faq-header\">\n                <h2 class=\"elementskit-faq-title\">Checking against sanction lists<\/h2>\n            <\/div>\n            <div class=\"elementskit-faq-body\">\n                AAEE must have regard to notices issued by UN, OFAC &amp; EU sanctions, otherwise the Exchange runs the risk of breaching international sanctions legislation to which the UAE is subject to. AAEE must also adhere to CBUAE sanctions. Likewise, the Exchange must adhere to any specific prohibition notices or any other advisories relating to the country of operation. The Central Bank of UAE regularly circulates black listed names and the financial.\n<br>\n<br>\nThe Central Bank of UAE regularly circulates black listed names and the financial institutions are required to maintain an internal black list accordingly and continuously update this list with any new circular from the CBUAE.\n<br>\n<br>\nThe Office for Foreign Asset Control (OFAC) in the USA also issues lists of individuals and entities for whom transactions or other business must not be conducted. To protect the interests of our customers and of AAEE, AAEE also checks all transactions against the OFAC lists. Further details of the applicability of OFAC sanctions can be found in AAEE\u2019s separate policy document \u2013 Sanctions Policy and Procedures.\n<br>\n<br>\nChecking against the sanctions lists is particularly important in guarding against terrorist financing activity. It is a criminal offense to provide services, or to undertake transactions or activity, for any person or organization whose name appears on a sanctions list. Any customer that appears on the sanctions lists must be reported to the FIU.            <\/div>\n        <\/div>\n                <div class=\"elementskit-single-faq elementor-repeater-item-b9fedc3\">\n            <div class=\"elementskit-faq-header\">\n                <h2 class=\"elementskit-faq-title\">The duty to report suspicions<\/h2>\n            <\/div>\n            <div class=\"elementskit-faq-body\">\n                There are criminal penalties for failure to report a potentially suspicious transaction to the MLRO without a reasonable excuse. Furthermore, such a failure could lead to disciplinary action by AAEE and the CBUAE. It is then the responsibility of the MLRO to decide whether to make a Suspicious Activity Report (SAR) or a Suspicious Transaction Report (STR).            <\/div>\n        <\/div>\n                <div class=\"elementskit-single-faq elementor-repeater-item-81a4972\">\n            <div class=\"elementskit-faq-header\">\n                <h2 class=\"elementskit-faq-title\">Awareness raising and training<\/h2>\n            <\/div>\n            <div class=\"elementskit-faq-body\">\n                <ul>\n\t<li>To make all management and staff aware of their legal obligations and what is expected from them to prevent money laundering. In addition, to advise them of the consequences for them and for the Exchange if they fall short of that expectation.<\/li>\n\t<li>To provide initial and annual update training for all appropriate personnel. This includes all personnel who set up and manage customer relationships, handle transactions, instructions and or other activity.<\/li>\n\t<li>To ensure that training is relevant and tailored to the day-to-day activities of those who are being trained.<\/li>\n\t<li>To ensure that any agents or representatives are aware of the anti-money laundering and counter-terrorist financing policies of AAEE and of its relevant procedures.<\/li>\n\t<li>Management and staff must sign a memorandum confirming they have read and understood the anti-money laundering and counter terrorist financing policies and procedures.<\/li>\n\t<li>Management and staff must sign a memorandum confirming the date and nature of their anti-money laundering training.<\/li>\n<\/ul>\n            <\/div>\n        <\/div>\n                <div class=\"elementskit-single-faq elementor-repeater-item-387b1a0\">\n            <div class=\"elementskit-faq-header\">\n                <h2 class=\"elementskit-faq-title\">Record keeping<\/h2>\n            <\/div>\n            <div class=\"elementskit-faq-body\">\n                To retain identification, transaction and activity documentation for the minimum period required by the Regulations which is 5 years from the date of transaction.\n\n            <\/div>\n        <\/div>\n                \n    <\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>AML CTF Policy Introduction In the global marketplace, the attempted use of financial institutions to launder money is a significant problem that has caused great alarm in the local as well as the international community and has resulted in the passage of stricter laws and increased penalties for money laundering in UAE, Europe, United States, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-925","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.alamalexpressexchange.com\/ar\/wp-json\/wp\/v2\/pages\/925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.alamalexpressexchange.com\/ar\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.alamalexpressexchange.com\/ar\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.alamalexpressexchange.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alamalexpressexchange.com\/ar\/wp-json\/wp\/v2\/comments?post=925"}],"version-history":[{"count":10,"href":"https:\/\/www.alamalexpressexchange.com\/ar\/wp-json\/wp\/v2\/pages\/925\/revisions"}],"predecessor-version":[{"id":2644,"href":"https:\/\/www.alamalexpressexchange.com\/ar\/wp-json\/wp\/v2\/pages\/925\/revisions\/2644"}],"wp:attachment":[{"href":"https:\/\/www.alamalexpressexchange.com\/ar\/wp-json\/wp\/v2\/media?parent=925"}],"curies":[{"name":"\u0648\u0648\u0631\u062f\u0628\u0631\u064a\u0633","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}