Independent AML Audits and Reviews in the UAE
Independent assurance that your AML controls work in practice.
An independent review and audit tests whether your AML procedures are suitable for your business and whether they are actually being followed. Adventant samples customer files, tests how alerts and reports are handled and sets out findings and recommended corrective actions.
Who it is for: Businesses due an independent AML review, preparing for an inspection or wanting assurance that controls work.
What is an independent AML compliance review?
It is an objective assessment, carried out by someone not involved in running your AML programme, of whether your policies and controls are suitable for your risks and are followed in practice. It typically involves testing customer files, alerts, escalations, reporting and training records, and ends with findings and a remediation plan.
The compliance challenge
Teams that run the AML programme every day are poorly placed to judge it objectively. Gaps stay hidden until a regulator or an incident finds them.
A review is most useful when it tests what happens in practice, not only what the policy says.
What the service includes
- Assessing whether your AML framework suits your activities and risks
- Sampling customer files and testing due diligence and risk ratings
- Testing how screening and monitoring alerts are reviewed, escalated and closed
- Reviewing reporting decisions and records
- Reviewing training, governance and management reporting
- Reporting findings ranked by severity
- Recommending corrective actions and following up on remediation
Scope and boundaries
- A review reflects the sample and period examined and is not a guarantee that no issues exist.
- Independence matters. Where Adventant also supports your AML programme, we agree how to keep the review objective.
- The scope and standard of review follow the requirements for your sector.
How the engagement works
- 01
Agree scope and sample
Set the areas, period and sample, weighted towards higher-risk activity.
- 02
Review documents and controls
Assess policies, risk assessments, governance and reporting arrangements.
- 03
Test files and alerts
Sample customer files and trace alerts from detection to decision.
- 04
Report findings
Set out findings by severity with clear recommended actions.
- 05
Support remediation
Help you plan and track corrective actions, and agree any follow-up review.
Who needs this service
- Businesses due a periodic independent review
- Firms preparing for a regulatory inspection or survey
- Businesses that have changed owners, systems or officers
- Teams wanting assurance that controls work in practice
Requirements depend on your supervisor and licence category. Start with the page for your regulator:
Regulatory context
Many supervisors expect an independent assessment of the effectiveness of AML controls, often through an independent audit or review function. How often, and whether it can be carried out externally, depends on your sector and supervisor.
Check what your regulator expects for the scope and frequency of independent testing.
General information, not legal advice. Check current requirements with your supervisor.
Frequently asked questions
Is an independent review required?
Many supervised businesses are expected to test their AML controls independently. The frequency and format depend on your regulator, so we confirm what applies.
What do we receive at the end?
A written report with findings by severity and recommended corrective actions, which you can use to plan remediation.
How is the sample chosen?
We agree the scope and sample with you, usually weighted towards higher-risk customers and recent activity, so the review tests what matters.
Can you help fix the findings?
Yes, we can support remediation. Where we do, we agree how to keep any later review independent.
Other services
Outsourced MLRO Service
Experienced oversight where an external appointment is permitted.
Governance Support for Your MLRO
Support for the team you already have.
Operational Outsourcing
Screening, customer risk assessment and ongoing monitoring, handled for you.
Regulatory Inspection Support
Support before, during and after regulatory scrutiny.
goAML Registration and Reporting
goAML registration, EOCN subscription, report filing and semi-annual reports.
Grievance Filing (Fine Waiver)
A clear, evidenced grievance against an AML penalty.
Enterprise-Wide Risk Assessment
Understand where your real risk sits.
AML / CFT / CPF Framework
Policies and procedures reflecting your actual work.
AML Training
A team that understands its responsibilities.
AML Software (TruDiligent)
TruDiligent, set up around your compliance process.