GoAML Registration

The implementation of the goAML platform stands as a significant regulatory milestone in the global effort against money laundering and terrorist financing. Stemming from the national risk assessment conducted in the UAE and the enforcement of Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) legislation in 2018, regulatory authorities in the region have underscored the crucial role of the goAML platform for businesses.

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Understanding goAML

The goAML system is a unified digital platform utilized by Financial Intelligence Departments (FID) worldwide to collect and assess financial information. Developed by the United Nations Office on Drugs and Crime (UNODC), this system aids financial intelligence units in analyzing data to prevent criminal activities.

Significance of goAML Platform

Real-time updates on targeted financial sanctions are accessible to registered users.

Automatic notifications via email keep users informed about changes in sanctions lists and mandatory compliance requirements.

Mandatory Registration

As per guidelines from the Central Bank of the UAE, all reporting entities must submit various reports to the FID through the goAML platform. The Ministry of Economy (MoE) has initiated awareness programs urging Designated Non-Financial Business and Professions (DNFBPs) to register on goAML.

Registration Deadline

To accommodate the ongoing pandemic and the anticipated surge in registrations, the deadline for goAML platform registration has been extended until April 30, 2021. Timely registration is crucial for compliance with AML reporting requirements.

Registration Process

Access the Central Bank of UAE's network.

Use the FID-provided registration portal on the goAML platform.

Receive a unique ID upon registration, serving as an identity for approved users within an organization.

Choose between registering as an organization or an individual based on the applicant's nature.

For detailed registration instructions, refer to the Central Bank of UAE's guidelines

Required Reports on goAML

Major reports to be submitted via goAML include Suspicious Transaction Reports (STRs) and Suspicious Activity Reports (SARs). Additionally, organizations may submit an Additional Information File (AIF) or Enhanced Customer Due Diligence (ECDD) report on a case-by-case basis.

Consult Gulfpro Accountants for Further Assistance

We offer consultancy services to support compliance functions in organizations across the UAE. With experience serving clients in various sectors, we assist in record organization, supporting document preparation, and ensuring seamless registration on the goAML platform. Our compliance experts guide organizations in establishing AML-related governance activities aligned with applicable rules and regulations.

For further inquiries on goAML, contact us.