What can be outsourced for Money Laundering Reporting Officer (MLRO)
- An Authorised Firm is required to appoint a MLRO at Senior Manager or Director/Partner level; this individual has to be a UAE resident. The role aims to identify and report upon any possible money laundering activities the company may be exposed to:
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- Overseeing operational AML policies, procedure, systems
- and controls & training
- Point of contact within the Firm for competent UAE
- authorities and regulator and to Board of Directors
- Maintaining systems & controls insuring internal and
- external reporting in AML/CFT matters and compliance
- with local & international sanctions
- Completion of AML annual return & Central Bank biannual
- reports Preparing ICAAP
