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AML & Compliance

Anti-money laundering and regulatory compliance advisory for Bahrain businesses.

Framework

Bahrain AML/CFT Requirements

Regulatory Basis

Bahrain's AML framework is based on Law No. 4 of 2001 (as amended), CBB Rulebook Volume 6, and FATF Recommendations. All businesses in scope must implement risk-based compliance programs.

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Customer Due Diligence

KYC procedures, enhanced due diligence for high-risk customers, beneficial ownership identification, and ongoing monitoring.

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STR Filing

Suspicious Transaction Report filing with the Anti-Money Laundering Unit (AMLU). Procedures for identifying, escalating, and reporting suspicious activity.

Compliance Program

Design and implementation of AML compliance programs including policies, procedures, MLRO appointment, staff training, and independent audit.

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Sanctions Screening

UN, US, and EU sanctions list screening. Automated screening tool implementation and false-positive management procedures.

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Staff Training

Mandatory AML awareness training for all staff. Role-specific training for front-line, compliance, and senior management teams.

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Risk Assessment

Enterprise-wide ML/TF risk assessment. Customer, product, geography, and delivery channel risk scoring and mitigation strategies.

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