ZinBlock

Anti Money Laundering (AML) Standards

Our commitment to preventing financial crime

Policy Overview

ZINBLOCK FZE maintains a comprehensive AML/CFT (Anti-Money Laundering and Combating the Financing of Terrorism) program in compliance with UAE Federal Decree-Law No. 20 of 2018, VARA regulations, and international standards including FATF recommendations.

Customer Due Diligence (CDD)

Identity Verification

All customers must provide:

• Government-issued photo ID
• Proof of residential address
• Biometric authentication
• Source of funds documentation

Enhanced Due Diligence (EDD)

Applied to high-risk customers including PEPs (Politically Exposed Persons), high-value transactions, and customers from high-risk jurisdictions.

Transaction Monitoring

We employ automated systems to monitor transactions for suspicious patterns:

Real-Time

24/7 automated monitoring

Pattern Analysis

AI-powered detection

Risk Scoring

Dynamic risk assessment

Red Flags and Suspicious Activity

We investigate transactions displaying suspicious characteristics:

Unusually large or frequent transactions inconsistent with customer profile
Transactions with no apparent economic purpose
Attempts to avoid reporting thresholds through structuring
Use of multiple accounts or identities
Reluctance to provide required documentation
Transactions involving high-risk jurisdictions

Sanctions Screening

All customers and transactions are screened against:

Global Sanctions Lists

UN, OFAC, EU, UK sanctions

PEP Databases

Politically exposed persons screening

Adverse Media

Negative news and reputational risks

Watchlists

Law enforcement and regulatory lists

Suspicious Activity Reporting (SAR)

When suspicious activity is identified, we file reports with the UAE Financial Intelligence Unit (FIU) within required timeframes. Our process includes:

  • • Investigation by trained compliance specialists
  • • Documentation of findings and supporting evidence
  • • Timely filing with authorities (within 5 business days)
  • • Prohibition of tipping off customers under investigation
  • • Ongoing monitoring of reported accounts

Record Keeping

We maintain comprehensive records for a minimum of 7 years including customer identification documents, transaction records, correspondence, and internal reports. Records are securely stored and readily accessible for regulatory inspections.

Training and Awareness

All employees receive:

Comprehensive AML/CFT training upon hiring
Annual refresher training and certification
Targeted training based on role and responsibilities
Updates on emerging threats and regulatory changes

Independent Review

Our AML program undergoes annual independent audits by qualified third parties. The Board of Directors receives regular compliance reports and oversees program effectiveness.

AML Compliance Officer:
For questions or to report suspicious activity, contact aml@zinblock.com or call +971 800 779726