Al-Romaizan Gold and Jewellery participated in the goAML system lectures, a series of training courses, enhancing awareness about money laundering. The concept of due diligence, combating suspicion, and examining customer data was covered.
Topic one: Due diligence in buying and selling operations lectures presented by the Arab Institute of Certified Accountants on goAML dealt with many aspects related to due diligence in buying and selling operations, and how to enhance integrity and transparency in these operations. Al-Romaizan Gold and Jewellery applied standards to verify the identity of customers and the source of funds used through the Lexis Nexis programme.
Topic two: Due diligence in suspicion also dealt with the issue of suspicion as an important tool for detecting money laundering. Al-Romaizan has trained its employees on how to identify the signs of suspicious activities and inform the compliance officer, who in turn communicates with the competent authorities when it is suspected of being there.
Topic three: Due diligence towards politically exposed clients: This topic focuses on the importance of following due diligence policies towards clients with political roles. Al Romaizan Gold and Jewellery has implemented a policy to deal with these customers with caution and vigilance, which requires additional procedures to verify their identity.
Topic four: Customer due diligence and examination of customer data. Al-Romaizan stresses the importance of due diligence and examination of customer data as part of its strategy to combat money laundering and terrorist financing. The business has conducted checks to ensure the validity and reliability of customer data and to identify any suspicious operations. It also updates this data regularly to ensure accuracy and up-to-date.
Participation and testimonials: Almost 240 people from the branch employees, account-ants, supervisors and administrators of Al Romaizan Gold and Jewellery participated in these lectures.
Certificates were also accredited by Dubai Knowledge Authority to employees participating in these lectures.
Supervision and responsibility: These lectures were monitored and organised by Mohammed Abdalla Al-Keeir, compliance officer and chief financial officer of Al Romaizan Gold and Jewellery.
Al-Keeir provided supervision and guidance to ensure that the content of the lectures was organised and that its objectives were achieved. By participating in goAML lectures, the company is enhancing its employees' understanding of this important issue and enhancing their abilities to identify and prevent suspicious activity.
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