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Audit & Compliance

AML Accountant
14 Apr 22

ANTI-MONEY LAUNDERING- BATTLEFIELD FOR ACCOUNTANTS

    Money laundering helps illicit organizations by lowering their cost of capital, giving them a competitive advantage over legitimate businesses. When a criminal activity generates substantial profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved.…
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    Auditor
    11 Apr 22

    WHAT DO AUDITORS NEED TO KNOW TO COMBAT MONEY LAUNDERING?

      Generally, businesses are most useful to money launderers as conduits for tainted funds. Since money launderers usually don’t expropriate assets, they seldom leave evidence of their activity on financial statements, making it difficult to detect their illegitimate activities during conventional audits. The methods used by money launderers in legitimising illegal…
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      ML Real Estate
      06 Apr 22

      Real Estate Red Flags/ How Do Criminals Launder Through Real Estate?

        Money laundering involves filtering income from illegal activities through legitimate transactions, disguising its source and preventing detection by the authorities. Property purchases can be an effective way to launder funds, as they tend to involve large sums of money changing hands, complex transactions and little oversight. Criminals use a wide…
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        KYC vs AML
        31 Mar 22

        ARE YOU KYC AND AML COMPLIANT?

          ARE YOU KYC AND AML COMPLIANT? The need for KYC and AML compliance has become mandatory to comply with the global and local regulations. Understanding AML vs. KYC can help you understand the difference between the two terms and implement these processes to ensure compliance. The ones who fail to…
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          Prevent Money Laundering
          23 Mar 22

          How to Prevent Money Laundering

            The UAE had implemented Anti Money Laundering/Countering the Financing of Terrorism measures as per the Financial Action Task Force (FATF) standards and is taking correct and strict measures that all businesses comply with the local as well as international guidelines for operating genuine businesses. In September 2018, UAE introduced Federal…
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            Money Laundering Reporting
            22 Mar 22

            Have you appointed your Money Laundering Reporting Officer (MLRO) ?

              Money Laundering Reporting Officer (MLRO) or Anti-Money Laundering Officer (AMLO) is a Compliance professional who oversees the firm’s anti-money laundering/countering the financing of terrorism framework. Who is a Money Laundering Reporting Officer (MLRO) In order to oversee internal anti-money laundering policies and remain compliant with important regulations, all regulated entities…
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