Complyfin is a solution provided by Dow Jones Risk & Compliance
In a proactive move to bolster transparency and security within its operations, Samana Developers, a leading UAE real estate company, has appointed Complyfin, a Dow Jones affiliated solution provider which assists businesses in managing their regulatory compliance obligations, including on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) compliance measures.
“The implementation of AML/CFT compliance measures underscores our unwavering commitment to ethical business practices and aligns with our dedication to fostering a secure and trustworthy environment for our customers in particular and stakeholders in general,” commented Imran Farooq, Chief Executive Office, Samana Developers.
Dow Jones Risk & Compliance
Complyfin is a solution provided by Dow Jones Risk & Compliance, a division of Dow Jones & Company, which is a leading provider of news, data, and analytics. Complyfin is a platform designed to assist businesses in managing their regulatory compliance obligations, particularly in areas such as Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and Know Your Customer (KYC) requirements.
Dow Jones Risk & Compliance offers a range of tools and services to help organizations navigate complex regulatory landscapes and mitigate risks associated with financial crime. Complyfin, specifically, provides capabilities such as screening for sanctioned entities, politically exposed persons (PEPs), and adverse media, as well as due diligence checks on business partners and customers.
Cash Policy compliance
This policy at Samana Developers governs the issuance of cash receipts for all unit sales. The purpose of this policy is to ensure compliance with the AML laws and regulations by limiting the amount of cash that can be accepted for each unit of property sold to customers.
Compliance Responsibility
Compliance with this policy is a shared responsibility across operational departments, with accountability distributed among several stakeholders. It is imperative that all property consultants and brokers strictly adhere to and uphold this policy in their day-to-day operations.
