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The United Arab Emirates (UAE) continues to strengthen its Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) frameworks. A central pillar of this effort is the goAML system, an integrated software application developed by the United Nations Office on Drugs and Crime (UNODC) and implemented by the UAE Financial Intelligence Unit (FIU).
For businesses operating within the UAE, the goAML portal is mandatory. It serves as the primary gateway for reporting suspicious activities to the authorities, ensuring the nation remains a secure global financial hub.
The goAML portal is used by the UAE FIU to collect and analyze information regarding transactions related to money laundering and other financial crimes.
Failure to register on the goAML system is considered a serious violation of federal law. Under the oversight of the Ministry of Economy and the Central Bank of the UAE, businesses that ignore this requirement risk:
Hefty Fines: Administrative penalties ranging from AED 50,000 to AED 1,000,000, and up to AED 5,000,000 for severe or repeated cases.
Operational Bans: Potential suspension or revocation of trade licenses.
Criminal Liability: Possible imprisonment for responsible officers if negligence is proven.
The UAE’s strict regulatory framework surrounding money laundering, terrorist financing, and related financial crimes means that businesses must be proactive in ensuring they comply with these regulations. Here's why GOAML registration is crucial:
Regulatory Compliance:
Businesses engaged in financial transactions must submit STRs to remain compliant with UAE’s AML laws. Failure to comply can result in hefty fines and reputational damage.
Preventing Financial Crimes:
The goal of GOAML is to combat financial crimes. By registering and reporting suspicious transactions, businesses contribute to the UAE’s efforts to detect and prevent money laundering and terrorist financing.
Avoiding Penalties:
Non-compliance with GOAML registration and reporting obligations can result in significant legal and financial penalties, including potential suspension of operations.
Streamlining Reporting:
The GOAML system simplifies the process of submitting STRs, providing businesses with a streamlined method of fulfilling their legal obligations while maintaining transparency.
The law applies to Designated Non-Financial Businesses and Professions (DNFBPs) and Financial Institutions (FIs). This includes:
Real Estate Agents and Brokers: Involved in the buying or selling of real property.
Dealers in Precious Metals and Stones: Specifically those involved in transactions equal to or exceeding AED 55,000.
Auditors and Accountants: Providing professional financial services.
Trust and Company Service Providers: Involved in company formation or administration.
Virtual Asset Service Providers (VASPs): Entities dealing with cryptocurrencies.
Note: Newly incorporated companies in the UAE must register shortly after receiving their trade license to ensure they are compliant from day one.
To avoid rejection of registration applications, ensure all documents are scanned into a single PDF file (usually under 5MB).
Valid Trade License: Issued by the relevant licensing authority in the UAE.
Compliance Officer Details: Passport copy, Resident Visa, and Emirates ID of the appointed officer.
Authorization Letter: An official letter on company letterhead appointing the Compliance Officer.
Organizational Structure: A chart showing the hierarchy (if applicable).
Before you can access the goAML system, you must register in the Service Access Control Manager (SACM). This portal, hosted by the UAE FIU, manages the security credentials for the system.
Visit the SACM portal via the UAE FIU’s eServices.
Choose the Registration Type (usually "Reporting Entity").
Enter your Supervisory Body (e.g., Ministry of Economy or Central Bank).
Submit the form to receive a username and secret key via email.
The password for the SACM protection layer is a 6-digit code generated by the Google Authenticator app.
Download the app on your mobile device.
Use the secret key received post-SACM registration to link your account.
This code changes every 30 seconds, providing Two-Factor Authentication (2FA).
With your username received post-SACM registration and your 6-digit authenticator code, you can now register with the goAML portal.
Log in to the UAE FIU’s goAML portal.
Select "Register as an Organization" for first-time entities.
Fill in the required business details and upload your consolidated PDF of documents.
Once submitted, the UAE FIU will review the application. If approved, you will receive a confirmation email.
The goAML system in UAE is a sophisticated software application developed by the United Nations Office on Drugs and Crime (UNODC) to assist the UAE Financial Intelligence Unit (FIU) in detecting and preventing financial crimes. This integrated platform is a mandatory anti-money laundering registration tool for designated entities in the UAE, including financial institutions, real estate brokers, and lawyers, who must register with the goAML system to fulfill their legal obligations. The purpose of the goAML system is to facilitate seamless goAML reporting of suspicious transaction reports (STRs) and activity reports (SARs) directly to the UAE FIU. To access the goAML portal, entities must follow a specific goAML pre-registration phase guide via the Service Access Control Manager (SACM) to secure credentials.
Completing your anti-money laundering registration requires a meticulous preparation of files, as the fiu goaml portal will reject applications with incomplete or separate attachments. All businesses in the UAE that are required to register must consolidate their paperwork into a single PDF file (typically under 5MB). The primary documents required for goAML registration include a valid commercial trade license, a formal authorization letter on company letterhead appointing the Compliance Officer, and clear copies of the officer's passport, resident visa, and Emirates ID. Since goAML is a software application that utilizes a two-stage security process, you must also have the Google Authenticator app ready on the officer's mobile device to access the goAML system.
The steps to register for goAML in the UAE are structured into a rigorous two-stage process to ensure the highest security for the system of the UAE. UAE is the first country in the region to fully implement this integrated UNODC-developed software for anti-money laundering registration. To begin, entities must register with the goAML protection layer known as SACM (Services Access Control Manager). You can register themselves on the goAML SACM portal by providing your trade license and compliance officer details to receive a unique username and a secret key. This secret key is then used to set up Google Authenticator, which provides the 2FA password required to access the goAML portal.
Once you have your credentials, you can proceed with the official fiu registration on the goAML platform. Via the goAML portal, you will select "Register as a New Organisation," upload the mandatory documents required for goAML registration, and submit your application for final approval by the UAE FIU. It is important to note that incorporated in the UAE post the 2021 goAML registration deadline, new businesses uae are required to complete this process immediately upon licensing. Failure to register on goAML or operating without registration on the goAML system uae post the given deadline is a violation of federal regulations in the UAE and would attract administrative penalties. After your registration on the UAE FIU’s portal is approved, the goAML portal offers a dashboard for your ongoing goAML reporting of suspicious transaction reports with the UAE FIU.
Registration on the goAML portal is only the beginning. To remain compliant, entities must:
File Reports: Regularly submit Suspicious Transaction Reports (STRs), Suspicious Activity Reports (SARs), and Cash Transaction Reports (CTRs).
Ongoing Monitoring: Continuously screen transactions for money laundering and terrorism financing red flags.
Update Records: Keep all AML-related documentation for at least 5 years.
Registering with the UAE FIU goAML portal is a critical legal mandate designed to protect your business and the nation’s financial integrity. goAML is an integrated software solution that serves as the backbone of the goAML system in the UAE, enabling the Financial Intelligence Unit to collect and analyze data to combat financial crimes. By completing your fiu goaml registration in UAE, you ensure that your business stays compliant with Federal Decree-Law No. 20 of 2018, avoiding severe administrative penalties that can range from AED 50,000 to AED 5 million. Beyond mere compliance, the goAML portal is an integrated platform that streamlines anti-money laundering registration, allowing you to efficiently manage goAML portal for your reporting needs, such as submitting Suspicious Transaction Reports (STRs). Ultimately, to register in goaml is to signal to international partners and regulators that your registration UAE status is built on a foundation of transparency and ethical conduct.
Deregistering from the goAML portal in UAE is a formal procedure typically required when a business ceases its activities, undergoes a complete liquidation, or is no longer classified as a DNFBP. To initiate this, you must send an official email to aml@economy.ae and CC goaml@uaefiu.gov.ae. Your request should clearly state your goAML Registration Number and entity name, and you must attach a copy of your Trade License along with a Clearance Certificate or a cancellation confirmation issued by your relevant licensing authority. Completing this process correctly is vital to ensure your anti-money laundering registration is officially closed, preventing any future compliance flags or administrative penalties for a defunct entity.
Understanding the goAML registration deadline is critical for any business operating in the Emirates, as the system in the UAE follows a strict timeline enforced by the UAE Financial Intelligence Unit (FIU). For established companies in the UAE that existed as of early 2021, the deadline prescribed by the Ministry of Economy was officially April 30, 2021. While that initial cut-off has passed, the UAE goAML portal remains open, and the Ministry of Economy & Tourism allows entities to still register with the goAML system to rectify their status. However, for newly incorporated in the UAE businesses, there is no grace period; these entities must register on the goAML portal immediately after receiving their commercial trade license. Delaying this anti-money laundering registration beyond the point of incorporation is considered a goAML portal is a violation of AML regulations in the UAE and would attract administrative penalties ranging from AED 50,000 to AED 1 million, or even higher for repeat offenders.
At Young & Right, we simplify the process of GOAML registration in the UAE. Our expert team guides businesses through every step, ensuring full compliance with UAE’s anti-money laundering (AML) laws.
Document Preparation: We help you gather all the documents required for GOAML registration, such as trade licenses and compliance officer IDs.
Registration Assistance: We assist with access to the GOAML portal and registration with the UAE FIU.
Ongoing Compliance: After registration, we ensure that your business stays compliant and meets GOAML reporting responsibilities.
Post-Registration Support: We provide continued support to keep your business aligned with the UAE FIU.
Registering for GOAML is a crucial part of complying with the UAE’s AML laws. This step-by-step guide has outlined everything you need to know about the registration process, document requirements, and compliance roles. By following these steps, your business can stay compliant with UAE regulations and help combat money laundering and other financial crimes in the region.
Ensure your business complies with UAE's AML regulations effortlessly. Let our experts guide you through every step of the GOAML registration process.
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