Company Policy

Allpa Wira Dmcc is committed to comply with all applicable laws and regulations regarding Anti-Money Laundering and Combating Terrorism Financing. We are committed to the following AML/CFT local laws and regulations as well as international laws and standards including:

• Federal Law No (4) 0f 2002 regarding criminalization of money Laundering

• Federal Law No (1) 0f 2004 on Combating Terrorism offences

• Federal Law No (9) 0f 2014, amending some of the Federal Law No (4) 0f 2002. regarding criminalization of money Laundering and Combating Terrorism financing

• Federal Law No (7) 0f 2014, on Combating Terrorism offences

• The Standards for the Regulations Regarding Licensing and Monitoring of Exchange Business (“the Standards”)

• Federal Decree-law No. (20) of 2018 ON ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM AND FINANCING OF ILLEGAL ORGANISATIONS

• Financial Action Task Force (FATF) Recommendations

• Middle East & North Africa Financial Action Task Force (MENAFATF)

• Bank Secrecy Act

• USA Patriot Act

• Office of Foreign Assets Control (OFAC) of the US Department of the Treasury

• United Nations Security Council (UNSC)

• HM Treasury – United Kingdom

We, Allpa Wira Dmcc are committed to operate the business with integrity, within the scope of law and with security. Allpa Wira Dmcc has implemented the comprehensive AML & CTF policies and procedure, robust Sanction screening and AML Monitoring system to detect, prevent and report any Money Laundering and Terrorist Financing associated risks.

The company also engaged the Compliance Risk Management Solutions, like “World-Check”, most comprehensive Sanctions and Politically Exposed Persons (PEP) database for sanctions and PEP screening, single source look up tool like “Word-Check Online” and We also use the tools provides by Executive Officw for Control WWW.ALLPAWIRA.AE INDIGO ICON FLOOR 23, OFFICE 2301 JLT – DUBAI; U.A.E and non Proliferation for Financing and Saction Evasions, which is also integrated with our in-house developed system for real-time sanctions screening.

Allpa Wira Dmcc policies against Money Laundering and Terrorism Financing ensures highest standards of due diligence in relation to “Know Your Customer (KYC) principles”. We consistently update our policies and systems to comply with the regulatory framework and appropriate guidelines issued by the regulator from time to time.

“Compliance is a path to find the Destination”

“Our mission is to ensure implementation of the most effective compliance practice within the organization”

Allpa Wira Dmcc policies against Money Laundering and Terrorism Financing are to ensure that all reasonable and practical measures are taken to identify customers.

We have a clear identity verification procedure for customers as per local and international AML/CFT regulations.

"All identity documents required will be physically checked and copy of the same will be retained whenever required. Validity of the documents will be checked before acceptance.

Customer Due Diligence (CDD) is a process of obtaining relevant details of the customer to ensure that they conducts the transactions in line with their personal profile / business activities; thus, ensuring source of fund and purpose are legitimate as well as to ensure that the transaction is in any way not related to Money Laundering and Terrorist Financing.

Enhanced Due Diligence is to take additional measures, besides usual Customer Due Diligence, to know more about a customer and to confirm that his/her transactions and funds are legitimate and free from any criminal link by obtaining relevant supporting documents.

Risk Based Approach (RBA) is one of the FATF initiatives and is followed in Allpa Wira DMCC. Due Diligence should be risk-based, depending on the location, type of business, ownership, customer base, regulatory status and AML controls of the financial institution or correspondent banking client or business.

RBA assists the financial institutions to make the best use of their limited resources to focus on matters where the money laundering risks are on the higher side. The risk-based nature of the program recognizes that not all aspects of an institution’s business present the same level of risk.

Allpa Wira Dmcc outlines procedures to help employees detect and report suspicious transactions. In the case of a suspected transaction, staff members should be vigilant and provide information to the Compliance Officer, Manager or Compliance Department for further action without jeopardizing the reputation of customers or the company.

Record-Keeping ensures that the company is able to provide basic information about its customers at the request of relevant authorities. Allpa Wira Dmcc shall immediately make available any or all of its books and records upon request by Central Bank or any other regulatory agencies.

"All the records / documents of transfers should be kept for a minimum period of 5 years from the date of transaction.

Allpa Wira Dmcc shall at all times maintain the confidentiality of information indicated in the transaction records.