🇦🇪UAE

غرامات عدم تقديم تقرير النشاط المشبوه (SAR)

3 verified sources

Definition

Mandatory SAR filing for suspicious transactions in financial institutions like Savings Institutions. Non-compliance results in penalties from FIU, with documentation retention required for 5 years.

Key Findings

  • Financial Impact: AED 20,000 - 100,000 per violation (typical AML fines); 20-40 hours per manual SAR filing
  • Frequency: Per suspicious transaction detected; ongoing for high-volume institutions
  • Root Cause: Manual identification, preparation, and submission via goAML portal; lack of automation for red flags

Why This Matters

This pain point represents a significant opportunity for B2B solutions targeting Savings Institutions.

Affected Stakeholders

Compliance Officer, MLRO, Transaction Monitoring Team

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Financial Impact

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Current Workarounds

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Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

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