AN AWARD WINNING COMPLIANCE SOLUTION FOR QATARI BUSINESSES
Industry leading KYC/AML solution that screens your customers with speed and accuracy.
Now supporting KYC & AML for businesses in Qatar
A rapidly growing and reliable AML/KYC compliance solution in the UAE that has now introduced Name Screening for effortless customer onboarding in Qatar.
Our goal is to safeguard your customers’ interests and expand your business with the world’s quickest and most precise digital identity verification solution.
QATAR CENTRAL BANK GUIDELINES ON AML PROCESS
The “Qatar Central Bank Guidelines on AML Process” outlines various provisions and requirements related to Anti-Money Laundering (AML) and Combating Terrorism Financing (CFT) for financial institutions in Qatar.
Understanding KYC requirements for DNFPBs in Qatar
DNFPBs are regulated by laws issued through the Financial Action Task Force (FATF) as well as the Qatar Central Bank (QCB). These laws exist for the protection of your business and well as the larger financial market, and many are enforced through penalties and fines. and how Eltizam Solutions can help you fulfill the requirements of the law.
Implications and penalties
In case any of these laws are not followed, it can result in major fines and penalties for a business.The following are the details on said penalties.