The UAE’s Ministry of Economy reiterated the need for non-financial businesses in the UAE to register on goAML, an anti-money laundering platform developed by the United Nations. Businesses can register for free on both systems by visiting the Ministry of Economy’s official website. The grace period for the targeted establishments to register has been extended until March 31, 2021. The goAML system is an integrated digital platform through which financial institutions and designated non-financial businesses and professions can submit suspicious transaction reports and suspicious activity reports. The system is currently used by several financial information units globally and the UAE is the first Gulf country to implement it.
Who are Designated Non-Financial Businesses and Professions (DNFBP)?
- Brokers and Real Estate Agents
- Dealers in Precious Metals and Precious Stones
- Independent Accountants
- Providers of Corporate Services