Government authorities at international and national levels have increased the pressure on the fight against money laundering and terrorism financing. Identification and verification of the beneficial ownership of corporate third parties (customers, suppliers, agents, consultants, etc.) are now an essential component of the Know Your Customer (KYC) onboarding and remediation processes. 

It is at the heart of the latest raft of international Anti Money Laundering (AML) and Counter-Terrorism Financing (CTF) sanctions and regulations, as well as tax compliance laws and standards, such as Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS). 

While these obligations have been widely acknowledged for regulated industries such as banks, insurances and other financial industry companies, other organizations are today directly affected by these disclosure requirements and the trend will only continue to grow in the future across sectors and industries worldwide. 

The UAE has been a pioneer in ensuring companies stay compliant to AML and UBO regulations. The UAE Ministry of Economy and the Central Bank of the UAE have authorised licensing authorities across the country to begin implementing administrative penalties and fines against any companies that fail to submit UBO information. There is now an increased pressure on not only financial and professional services but also real estate, auditing and trading sectors. 

Any institution within the scope of Anti-Money Laundering and Anti-Terrorist Financing regulations needs to disclose the UBO’s identity for any of their business transactions. As per the authorities’ guidance, companies are obliged to develop internal policies, controls, and procedures that are commensurate with the nature and size of their business to manage money laundering and terrorism financing risks. 


Antoun Massaad

Co-Founder & CEO 
Cedar Rose 

Muhammad Shafi

AML Supervision Senior Specialist
UAE Ministry of Economy

Alina Tatarenko

Head of Legal and Compliance

Tomell deSilva Ceasar

Group Head of Ethics & Compliance

Sachith Amarasekara

KPMG Lower Gulf 

Discussion Points

  • What makes Anti-Money Laundering (AML) and Ultimate Beneficiary Owners (UBO)  identification and verification essential? 
  • What are the latest regulations in the UAE to prevent and fight money laundering and terrorism financing? 
  • How can you ensure adherence to regulatory obligations, make informed decisions, prevent your business from being used to launder the proceeds of financial crime, stay compliant and avoid fines? 
  • In addition to the financial services which are the new industries that need to be compliant with AML and  UBO regulations and what are the obligations for industry participants? 
  • What makes determining the UBO structure complex and time consuming? 
  • How can new technologies support and simplify your customer and third-party screening process? 

Who would attend

 Heads of Compliance; Compliance Directors; Chief Compliance Officers; Compliance Managers; Heads of Legal; Legal Directors; Chief Legal Officers; Legal Managers; Law Firm Partners; Heads of Procurement; Procurement Managers; among others 

 To find out more about Cedar Rose call +971 4 374 5758 or visit www.cedar-rose.com