Outsourced AML Compliance in the UAE: What You Can Hand Over, and What You Never Can
In short: Outsourced AML compliance in the UAE is permitted only in part. Joint guidance issued by the UAE Supervisory Sub-Committee states that a firm must not outsource the role of the Compliance Officer or MLRO, nor the entire compliance function, under any circumstances. Specific tasks — enhanced due diligence, AML training, framing controls and […]
