AML and UBO Compliance – Midwaters Accounting and Tax

The AML and UBO Compliance

Stay aligned with UAE regulations and avoid the charges with our guidance to meet UBO (Ultimate Beneficial Owner) and AML (Anti-Money Laundering) compliance requirements.

AML compliance (Anti-Money Laundering):

It’s essential in today’s regulatory environment that AML compliance isn’t optional. Our team is here to assist with risk assessments, ongoing staff training, and sanctions screening to make it sure that your business stays protected and compliant. In the UAE’s anti-money laundering obligations, we support you through structured services like Customer Due Diligence (CDD), Suspicious Transaction Reporting (STR), and internal policy setup.

Covered AML services

At Midwaters, we offer the knowledge and resources your business requires to thrive

Customer Due Diligence (CDD) / Know Your Customer (KYC)

At Midwaters, we help prevent illegal activities and ensure you comply with KYC regulations. From supporting you in verifying client identities to understanding their financial behaviour, our team builds a foundation for a strong AML framework.

Suspicious Transaction Reporting (STR)

If any transaction seems suspicious, we’ll help you find it early and make sure to file an STR with the relevant authorities. Taking quick action can help you protect the business from any risk.

Record Keeping

We assist you in having all the required documents organized, whether it’s related to compliance audit or client onboarding. We’re here to give you confidence and prepares you for regulatory checks.

Risk Assessment

Since every business faces different risks. Our team conducts a thorough risk assessment to identify potential AML vulnerabilities and let you build appropriate internal controls.

Internal Control & Compliance

Since every business faces different risks. Our team conducts a thorough risk assessment to identify potential AML vulnerabilities and let you build appropriate internal controls.

Training and Awareness

Regular training builds a more resilient and informed team. We provide AML-focused training to your staff to help them stay alert to the red flags and understand their compliance responsibilities.

Sanctions Screening

Our sanctions screening service is built to provide you with screening tools that check client names and transactions against an internal watchlist. We also help your businesses with backlisted organizations.

UBO (Ultimate Beneficiary Owner)

Our assistance is with you in identifying the Ultimate Beneficiary Owner (UBO), whether it’s complex ownership structures or help maintaining accurate records. UBO regulations help you with the transparency of your business’s ownership and control. The following services are also included:
1. Preparing the UBO register
2. Submitting mandatory UBO information to authorities
3. Updating your partners or stakeholders to meet compliance standards

Who Must Comply?

Midwaters is here to give your business a direction to operate within the boundaries of the law. All businesses that are licensed in the UAE, onshore or offshore, are legally required to fulfill the legal standards of UML and UBO laws.