Services • AML Compliance Handling

AML ComplianceHandling

Registered DNFBP compliance under UAE Ministry of Economy supervision, with institutional-grade screening, monitoring, and goAML reporting protocols.

Registered DNFBP & UAE AML/CFT Framework

Registered DNFBP Compliance & UAE Ministry Supervision

HFM Gold Trading LLC operates under a comprehensive AML/CFT compliance framework aligned to the UAE Federal Decree Law No. 20 of 2018, FATF 40 Recommendations, and DMCC DPMS regulations.

Our compliance department manages the full counterparty lifecycle — from initial onboarding and KYC/KYB through ongoing transaction monitoring, sanctions screening, and mandatory regulatory reporting via goAML.

Institutional Compliance Standards

Framework

Regulatory Authority & Supervision

UAE Ministry of Economy

Primary Supervisory Authority for DNFBPs

HFM is registered as a Dealer in Precious Metals and Stones (DPMS) with the UAE Ministry of Economy, subject to annual compliance review and AML/CFT assessment.

DMCC Authority

Trade License & Operational Oversight

HFM operates under DMCC trade licensing requirements including annual renewal, physical inspection, and compliance attestation under DMCC's DPMS framework.

FATF Recommendations

International AML/CFT Standard

All HFM procedures align with the Financial Action Task Force (FATF) 40 Recommendations, with particular adherence to Recommendations 10, 12, and 16 on customer due diligence and wire transfers.

goAML Platform

Suspicious Activity Reporting

HFM files all required Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) through the UAE FIU's goAML platform in accordance with Federal Decree Law No. 20 of 2018.

Our Capabilities

What We Offer

Registered DNFBP Compliance

HFM is a registered Designated Non-Financial Business and Profession (DNFBP) under UAE Federal Decree Law No. 20 of 2018. Our compliance program is supervised by the Ministry of Economy and independently audited annually.

Institutional Screening

Every counterparty is screened against seven international sanctions databases before any commercial engagement. Ongoing monitoring is conducted quarterly, with immediate re-screening triggered by jurisdiction risk flag events.

Jurisdictional Exclusion Policy

HFM maintains a zero-tolerance policy for transactions involving FATF grey-listed jurisdictions, OFAC-sanctioned states, and countries on the EU's high-risk third-country list. Updated in real time as lists change.

Onboarding & Document Review

A structured four-layer KYC/KYB review process: entity identification, beneficial ownership mapping, source of funds verification, and purpose-of-relationship assessment. Enhanced due diligence applied to PEP-connected entities.

Risk Mitigation Framework

Each new counterparty is assigned a risk rating (Low / Medium / High) based on jurisdiction, entity type, transaction frequency, and source of material. High-risk entities require MLRO sign-off before activation.

Continuous Transaction Monitoring

All transactions are monitored against pre-defined AML typologies including structuring, pass-through activity, unusual payment routes, and geographic inconsistencies. Automated alerts reviewed within 48 hours.

Screening

Primary Sanctions Databases Screened

OFAC SDN (Office of Foreign Assets Control)

UN Security Council Consolidated List

EU Consolidated Financial Sanctions List

UK OFSI (Office of Financial Sanctions Implementation)

UAE Local Terrorist List — UAE Cabinet Decision

INTERPOL Notices (Red & Diffusion)

World-Check & Refinitiv Enhanced Due Diligence

Onboarding

Required Documentation

Corporate registration certificate (authenticated)

Memorandum and articles of association

Beneficial ownership register (all UBOs ≥10%)

Passport copies for all directors and authorized signatories

Proof of trading address (utility bill or bank statement)

Source of funds declaration and supporting evidence

Trade license and applicable regulatory approvals

Bank reference letter from a regulated financial institution

Prior trading record (if applicable)

PEP/Sanctions self-declaration form

Questions

Frequently Asked Questions

No. We exclusively purchase alluvial gold that has been smelted into dore form. Loose alluvial dust introduces unacceptable contamination and chain-of-custody risks. Sellers must engage an accredited smelter before submission.

We accept alluvial dore with a minimum gold content of 35%. Lots between 35–45% gold are subject to a supplementary deduction schedule to account for higher refining costs.

The CMD requires identification of all beneficial owners in the supply chain, a declaration that no armed group has benefited from the trade, evidence of community engagement, and endorsement by the local regulatory authority.

Yes, subject to full compliance vetting of the joint venture structure. All entities with beneficial ownership above 10% must be subject to KYC/KYB. The cooperative must hold a valid mining registration.

Settlement is based on the LBMA AM/PM gold fix on the agreed pricing date, adjusted for the assay-confirmed gold content (via fire assay), less our standard deduction schedule for refining, assay, and logistics.

Ready to Initiate ASM Onboarding?

Establish Correspondence

Private Consultation

For alluvial gold inquiries or to begin the three-stage onboarding process, coordinate directly with HFM Gold Compliance Department.

Headquarters

106, Gold Land Building, Dubai, UAE

Trading Desk

+971 4 395 0866

Correspondence

info@hfmgold.com