Tax evasion and terrorist financing are global problems that endanger the peace and protection of financial institutions and systems across the world. FIUs (Financial Intelligence Units) play a critical role in the fight against financial crime all over the world. They gather and evaluate financial data supplied by groups, which are then probed for money laundering, terrorism funding, and other offenses. The Central Bank of the UAE has mandated that all financial institutions in the country report suspicious behavior immediately using its GoAML software. Thanks to the extensive assistance provided by accredited auditing companies in the UAE, registration on the GoAML platform has never been easier.
What Exactly is GoAML?
The United Nations Office on Drugs and Crime (UNODC) created the goAML online platform as an anti-money laundering and counter-terrorism financing project. This technology is used by the UAE’s Financial Intelligence Unit (FIU) to identify and report any suspicious transaction (STR). The UAE is the first GCC country to implement this system, which will assist banks and other financial institutions in identifying and combating fraudulent practices by notifying them to the UAE Central Bank.
Registering on goAML Platform as a Person
To complete the registration on the goAML platform, the registering person clicks on “Register as a Person” in the navigation bar of the website.
Registering Person
There are certain steps and information that registering persons have to enter into the portal. They are:
- Organization ID: the registering person enters the ID of the registering organization.
- Username and Password: A unique username must be selected which should not be a duplicate. This username is used for logging in to the account. The password must be 5 – 10 characters long and include alphanumeric, special characters, and an uppercase letter.
- Personal Details: this section requires the personal information of applicants. They enter their gender, name, date of birth, nationality, ID number, email address Emirates ID and more. All mentioned information must be accurate. Any mistakes may lead to the rejection of the application.
Approving Request
After creating an account, the registering person logs in to their account and sees their approval status from the User Request Management tab. The request status updates according to the procedures followed by the authorities.
Completion of Registration
Once the process of registering on the goAML platform is complete, a notification appears along with a reference number that can be used in case of any registration-related queries.
Conclusion
BS Auditing of Accounts provides the best services and professional guidance for the goAML process. The skilled team members answer all queries related to this novel initiative and assist with compliance and registration to the portal. We provide the best consultation and assistance in these matters.
Book your consultation today for the best interpretation and guidance on all legal and accounting processes. Feel free to contact us:
• Office # 0641, Tamani Arts Offices, Business Bay, P.O. Box 111390, Dubai, UAE
• +971 4 570 7357
• +971 58 108 5690
