The Role of PEP Screening in AML Compliance
Adherence to global sanctions requirements is a fundamental component of robust Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) frameworks. According to the World Bank, corruption costs the global economy an estimated $3.6 trillion annually, while United Nations reports show that up to 5% of global GDP...
Why AML Compliance Is More Challenging for Small Businesses – and How FinchSCAN Can Help
If you think AML screening is only for big institutions, think again. Small businesses are just as vulnerable and often an easier target for financial crime. In the UAE, Small and Medium-sized Enterprises (SMEs) make up 94% of all companies, contributing significantly to the nation’s GDP...
Why Enhanced Due Diligence (EDD) is Critical and How to Choose the Right AML Solution
Designated non-financial businesses and professions (DNFBPs) in the UAE play a critical role in safeguarding the integrity of the financial ecosystem. Although they are not classified as financial institutions, they face high exposure to money laundering...
AML/CFT Compliance Requirements for Auditors and Accountants in the UAE
Auditors and accountants in the UAE play a critical role in maintaining financial transparency, but this also makes them vulnerable to money laundering (ML) and terrorism financing (TF) risks. Given the nature of their work, compliance with AML/CFT obligations...
Sanctions Screening vs. PEP Screening: What is the Difference?
In the realm of AML (Anti-Money Laundering), compliance for sanctions screening and PEP (Politically Exposed Person) screening are critical steps in the operational procedure, intended to protect financial institutions and businesses...
Webinar on The AML Compliance Challenges for DNFBPs
Designated Non-Financial Businesses and Professions (DNFBPs) are recently regulated and struggle with understanding evolving AML compliance requirements, mitigating risks and finding a cost-effective AML compliance solution for their...
FATF’s February 2025 Plenary:
Key Updates for the DNFBPs
The financial action task force (FATF) has released new updates following its February 2025 Plenary, including changes to the grey list. Here is what designated non-financial businesses and professions (DNFBPs) need to know:
Added to the Grey List: The FATF has placed Lao People’s Democratic Republic...