AML software is increasingly essential in the UAE real estate sector, helping firms to automatically identify and flag suspicious property transactions as part of enhanced risk management and compliance with stringent anti-money laundering (AML) laws. Regulatory Framework Real estate brokers, developers, and agents in the UAE are designated as DNFBPs (Designated Non-Financial Businesses and Professions) and must comply with federal AML laws such as Federal Decree-Law No. 20 of 2018 and Cabinet Decision No. 10 of 2019. These require registration on platforms like goAML, submission of Real Estate Activity Reports (REAR) for high-value deals, comprehensive Customer Due Diligence (CDD), and regular screening of clients against sanctions and PEP (Politically Exposed Persons) lists. How AML Software Flags Suspicious Transactions AML software automates several compliance components: · Client screening against global and UAE-spec...
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