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 and employing a large portion of the private sector workforce.

Yet, global reports reveal that SMEs are linked to around 25% of money laundering cases, often due to weaker due diligence and compliance controls. For smaller organizations, staying compliant is no longer optional, it is critical. But limited resources and growing regulatory demands make compliance
a significant challenge.

Common AML Compliance Challenges for Small Businesses

1. Complex Solutions

Many AML solutions or platforms on the market are designed for large financial institutions. They come packed with features, many of which small businesses neither need nor have the capacity to
manage. This can lead to:

• Overwhelming interfaces
• Long implementation timelines
• Steep learning curves

2. Limited Resources

Small businesses often operate with small teams and tight budgets. Hiring AML experts or subscribing to enterprise-grade platforms can be very expensive, making AML compliance difficult to manage.

3. Constantly Changing Regulations

AML regulations evolve rapidly to address emerging risks. Smaller firms may struggle to keep pace without dedicated regulatory experts, leaving them exposed to potential fines or operational risks.

4. Reliance on Manual Processes

Without the right technology, many businesses still rely on spreadsheets and manual screening or transaction checks. This approach is prone to human error, increases false positives, and consumes valuable time that could be spent growing the business.

Why Non-Compliance Is Risky

Non-compliance is no longer just a legal concern; it is a business risk. Companies that fail to implement robust AML controls may face:

• Regulatory fines and penalties
• Account restrictions or closures
• Reputational damage
• Increased operational risk

For SMEs, even a single compliance lapse can have significant consequences.

How FinchSCAN Helps

FinchSCAN is more than just a screening tool. It is your partner in AML compliance. Designed with small to medium businesses in mind, FinchSCAN is a cloud-based, AI-powered AML screening portal
that makes AML screening easy without the burden of complex systems or high costs.

Key functionalities include:

• Name Screening against local and global sanctions, PEPs, and adverse media lists.
• Ongoing Monitoring for enhanced due diligence and continuous regulatory compliance.
• goAML Reporting to streamline local regulatory submissions.

With FinchSCAN, AML compliance becomes accessible, actionable, and cost-effective, allowing businesses to focus on growth while enhancing their compliance for regulatory demands.

Are You Facing These Challenges?

If your business is struggling to manage the complexity of AML compliance and tired of traditional tools, FinchSCAN could be the solution you have been looking for.

Email: info@finchinnovate.com
Call us: +971 56 685 6011