Past event summary
AML and CFT Important Requirements and Registration Deadlines for all UAE DNFBPs
About the event
DMCC in partnership with DLA Piper hosted a webinar to share what businesses need to do to comply with Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) controls.
UAE’s legislation developed to meet international AML/CFT standards entails important requirements that must be met by Designated Non-Financial Businesses and Professions (DNFBPs) listed below:
- Real estate agents and brokers
- Dealers of precious stones and metals
- Company and trust service providers
- Auditors, lawyers and notaries
Under the applicable legislation, all UAE businesses qualifying as DNFBPs must:
- Appoint a compliance officer
- Take appropriate client due diligence measures
- Submit suspicious transaction reports (STRs) to the authorities and;
- Register for sanctions lists
To that effect, all DNFBPs need to register on the online ‘goAML’ system no later than 31 March 2021 in order to appropriately report STRs and to avoid any administrative penalties or other punitive measures.
During our webinar experts provided an overview of the rules and requirements applicable to DNFBPs. It also explained which actions DNFBPs should take in order to mitigate AML and CFT risks and comply with the law.
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Event details
Where
Online. Upon registration, you will receive details on how to join the webinar.
When
11:00am - 12:00pm, 23 Mar 2021
Agenda
Welcome Note
DMCC
Keynote Address: The Role of the Ministry of Economy in Supervising Designated Non-financial Businesses & Profession (DNFBPs)
Safeya Hashim AlSafi
Director of the Anti-Money Laundering Department - Monitoring & Following Up Sector
Ministry of Economy
Presentation: UAE’s legislation developed to meet international AML/CFT standards
- Ton Van Doremalen
Head of Tax, Middle East
DLA Piper - Laura Shingler
Legal Director
DLA Piper
Q&A
Speakers
SAFEYA HASHIM ALSAFI
DIRECTOR OF THE ANTI-MONEY LAUNDERING DEPARTMENT - MONITORING AND FOLLOWING-UP SECTOR
MINISTRY OF ECONOMY
TON VAN DOREMALEN
HEAD OF TAX, MIDDLE EAST
DLA PIPER
Ton advises both local and international clients in relation to operating their businesses, cross-border investments and activities in a tax efficient and compliant manner.
Ton's practice encompasses advice on cross-border tax structuring and tax advice relating to M&A transactions for clients such as Gulf-based corporates, sovereign wealth funds, private equity investors, high net worth individuals and family offices.
Ton also advises corporate clients from Europe, North America and Asia on their inbound Middle East inbound transactions and investments, projects and company set-ups.
From a local business perspective, Ton is involved in providing tax advice relating to the introduction of VAT in the UAE and Saudi Arabia.
He has over 16 years of experience focusing on tax structuring involving jurisdictions such as the Netherlands, Luxembourg, the UK and the UAE.
LAURA SHINGLER
LEGAL DIRECTOR
DLA PIPER
Laura Shingler has experience in disputes and investigations, with a particular focus on sanctions, anti-bribery and corruption (ABC), anti-money laundering (AML) and corporate crime.
She acts for leading corporate and financial institutions advising them on a range of regulatory and compliance issues and assisting them with the implementation of robust compliance programmes. Laura is recommended as an “Associate to Watch” for UAE Corporate Investigations in Chambers Global 2018-2021, and Legal 500 as a “Rising Star” for Compliance and Investigations, and Financial Services Regulation.
She has undertaken 10 month secondments to the sanctions compliance team at SCB in the UAE and the sanctions, AML and ABC team at Citibank in London. Laura regularly provides training to corporate and financial institutions throughout the UAE on sanctions, AML and ABC and publishes briefings and updates for clients in respect of changes to the international sanctions regimes.
Webinar Facilitator
SAMER MERHI
SENIOR MARKETING MANAGER - EVENTS
DMCC
Samer Merhi is the Senior Marketing Manager of Events at DMCC, the world’s leading Free Zone and Government of Dubai Authority on commodities trade and enterprise.
Joining DMCC in 2012, Samer is responsible for delivering the organisation’s event programme in line with corporate marketing strategy and business objectives.
Technically knowledgeable and professionally qualified, Samer forges strategic relationships with partners around the world to deliver an ever-growing DMCC calendar of events both physical and virtual.
In a career spanning 15 years, Samer has managed some of the region’s largest and high-profile live events and conferences, as well as diplomatic meetings and industry gatherings.