goAML Registration simplified!
Have you completed your goAML registration application?
What is the goAML System in UAE ?
The goAML is an application developed by United Nations Office on Drugs and Crime (UNODC). It is UNODC’s tactical response to combat organized financial crimes such as money laundering and terrorism financing. The goAML portal is used by the UAE’s Financial Intelligence Unit (FIU) to collate information and intelligence on suspicious transactions involving money laundering and terrorist financing and curtail these financial crimes.
The primary purpose of the goAML system is to collect the data, manage and analyse the same and meet the document management and statistical needs of the UAE FIU.
The designated entities in the UAE access the goAML Portal with their unique registered credentials to file various reports with the UAE FIU.
Why is the goAML registration required?
As per the Federal Decree Law No. (20) of 2018 and the Cabinet Decision No. (10) of 2019, it is mandatory to have adequate processes and systems in place to enable designated entities to report suspicious transactions related to money laundering and terrorism financing.
Without registration on the goAML portal, designated entities cannot file any reports with the UAE FIU. With the goAML portal, the designated entities can help the regulatory authorities identify financial crimes and related suspicious activities.
Without registering yourself with the goAML Portal, you would not be complying with AML reporting requirements, and such non-compliance would trigger acute penalties by the UAE FIU.
Who is required to get registered with the goAML portal?
All the Financial Institutions, Designated Non-Financial Businesses and Professions (DNFBP) and Virtual Assets Service Providers (VASP) are required to register themselves on the goAML portal.
Who would be considered DNFBPs for registration on the goAML Portal and compliance with AML regulations in the UAE?
- Dealers in Precious Metals and Stones
- Real Estate Agent and Brokers
- Auditing and Accounting Firm
- Lawyers, Notaries, and other legal professionals
- Trust and Company Service providers
What are the steps to register on UAE goAML Portal?
goAML registration is a two-step process, as under:
01. Register in the protection system of the goAML portal and get a username and the secret key for accessing the Google Authenticator application.
02. Using the secret key, install the Google Authenticator app and get a unique code which is then used as the password to access the goAML portal.
What are the documents required for goAML registration?
The designated entity has to be ready with the following documents for goAML registration:
• Company’s authorization letter in favour of applicant,
• A copy of Passport, Resident Visa, and Emirates ID,
• Commercial Trade License copy.