ADEEB PARKAR
Dubai
Summary
AML program/ policy/ procedure and control functions, risk mitigation Assess, identify and analyse control gaps and identify solutions. Process streamlining, Financial Crime Risk Assessment for efficient and effective AML process control. Preparing presentation and conduct AML trainings and handling remediation projects. AML/ Financial Crime Compliance experience with up to date knowledge of AML Regulations ,Sanctions, KYC/ Customer Due Diligence (CDD), EDD, Transactions Monitoring, Regulatory Compliance.
Overview
6
6
years of professional experience
1
1
Certification
Work History
Compliance Officer (DMLRO)
Fasset
02.2025 - Current
- Ensure ongoing compliance with VARA regulations, licensing conditions, and UAE Central Bank AML/CFT obligations for FASSET.
- Manage and oversee the UAE compliance framework, ensuring jurisdiction-specific regulatory adherence while supporting and advising on compliance matters in other jurisdictions.
- Act as the primary point of contact with VARA, representing the company in regulatory meetings, inspections, and consultations to address compliance status, licensing requirements, and regulatory updates.
- Develop, implement, and enhance the company’s compliance framework, integrating updated VARA, Central Bank, and cross-border regulatory rules into operational processes and systems.
- Collaborate with technology teams to improve transaction monitoring, customer onboarding, and regulatory reporting systems, ensuring alignment with evolving compliance standards.
- Oversee Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and ongoing client activity monitoring.
- Conduct compliance risk assessments and transaction monitoring, escalating high-risk matters to senior management.
- Handle and investigate alerts in Chainalysis (blockchain analytics) and Sift (fraud detection) to identify suspicious activity, sanctions risks, and abnormal transaction behavior.
- Investigate and mitigate credit card fraud cases, including card-not-present fraud, account takeover, and suspicious chargebacks. (Funds Recall Case) (FRC) and (Fraud Recall Request).
- Prepare and submit weekly and monthly reports on high-risk customers and suspicious activity trends for management review.
- Draft, update, and maintain AML manuals, compliance policies, and standard operating procedures to ensure alignment with regulatory requirements.
- Prepare and submit regulatory reports, Freeze Reports, and Suspicious Transaction Reports (STRs) via goAML to VARA, the Central Bank, and other relevant authorities within deadlines.
- Maintain accurate records of regulatory interactions, compliance audits, internal reviews, and investigation findings to ensure governance standards and inspection readiness.
- Deliver staff training on VARA requirements, AML/CFT obligations, fraud prevention measures, and best practices for handling virtual asset transactions.
KYC Specialist
Abu Dhabi Islamic Bank
03.2024 - 02.2025
- Responsible for screening clients and conducting research to combat money laundering and anti-terrorist financing.
- Conduct extensive research into the client in order to identify any risks related to money laundering or Financing of terrorism and flag them.
- Tasked with activities such as: updating client files for periodic reviews, assess the business activities and source of wealth Conduct adverse media screening to check for criminal activities or political affiliations and apply risk analysis to evaluate the integrity risk of client.
- Review and analyse customer documentation to ensure compliance with regulatory requirements.
- Maintained accurate records of all customer information and transactions. Recognize and report any suspicious transactions or activity. Keep up-to-date with regulatory requirements related to KYC and AML.
- Identify any shortcomings or holes in KYC policies and procedures and report them.
- Conduct ongoing monitoring of customer transactions for potential risks. Perform periodic reviews and updates of customer information and documentation.
- Work with internal teams to ensure compliance with KYC policies and procedures.
- Conducted review and escalation of Unusual Activity Reports (UARs) in line with CBUAE and FIU goAML requirements.
- Identified and documented unusual customer behavior and transaction patterns inconsistent with KYC profiles.
- Prepared clear narratives for UAR filings to ensure effective regulatory reporting and compliance monitoring.
- Collaborated with MLRO and Compliance teams to escalate UARs to STRs when activities progressed to suspicion.
- Ensured strict confidentiality and adherence to AML/CFT regulatory standards in all UAR submissions.
Anti-Money Laundering Officer (Regulatory Compliance & Transaction Monitoring)
AL ANSARI EXCHANGE LLC
03.2023 - 02.2024
- Developed, implemented, and monitored compliance policies and procedures to ensure organizational compliance with applicable laws and regulations.
- Conducted internal audits and assessments to analyse the organization’s compliance with core productivity in laws and regulations.
- Identified and reported potential areas of compliance vulnerability and risk. Acting as the coordinating, reporting and following-up point between Branches and Compliance Department.
- Review and address system generated AML alerts in order to identify possible ML activities and conduct end to end investigations.
- Conducting Enhanced Due Diligence (EDD) on identified High Risk Customer Accounts.
- Review of Account Opening Requests of Sanctioned and High Risk Country Nationals.
Anti-Money Laundering Officer
Dubai Islamic Bank
12.2021 - 03.2023
- Monitored account transactions to detect suspicious activity, possible money laundering, terrorist financing and unusual patterns of questionable account activity.
- Conducted risk-based searches and investigation using public domain Search ,World Check search, internal bank KYC systems while maintaining a high level of expertise with respect to Anti-Money Laundering rules & regulations.
- Performed timely verification of these alerts to check the authenticity of transactions with proof of documents by raising RFI to Business / Relationship Managers.
- Researched and Reported compromised accounts to determine risk and evaluate responses based on sorted data on excel through BO reports and various other internal database.
- Responsible for reporting an STR on FIU’s Go AML if suspect customer/account activity meets the criteria and qualifies for reporting.
- Liaise with internal teams to gather, comprehend, and provide required evidence in preparation for successful STR / SAR reporting, Internal Blacklisting and exit customer relationship.
- Wrote comprehensive reports of investigative findings that are reviewed internally through SAS Anti Money Laundering system at times viewed by Internal / External auditors and Regulatory Authorities.
- Maintained knowledge of compliance issues, new updates and laws by participating in webinars, Reading E-books and related articles.
Assistant Manager AML (Transaction Monitoring)
Emirates Islamic Bank
09.2022 - 12.2022
- Managing the AML team by monitoring and ensuring an end-to-end process of alerts/ cases/ SARs within the TAT and reporting to AMLSCU in a timely manner.
- Investigating transactions from AML/sanctions perspective, in accordance with Banks AML policy, UAE Central Bank, OFAC, FATF & EU requirements and taking appropriate action within the TAT.
- Timely completion of suspicious transactions reports to Regulators and report to Senior Management/Compliance Head to carry out further investigation & necessary actions by promoting an effective AML culture of vigilance and awareness.
- Review high-risk business accounts and provide onboarding approval by ensuring necessary scrutiny using internal and external resources in accordance with the High-Risk Policy.
- Investigating potential fraud activities and immediately reporting to regulators and taking necessary preventive actions.
- Perform Enhanced Customer Due Diligence on potential customers based on CB requests and take immediate action and ensure to revert Central Bank in a timely manner.
- Review and approve live transactions in the payment screening system by performing due diligence from a sanction/regulatory perspective.
- Handles queries from UAE Central Bank, Dubai Police, and other external sources and acts immediately.
- Preparing MIS reports & other statements with a view to apprise management of the process operations and assist in the critical decision making process.
- Provide guidance and assistance to the Business's RMs/RBEs/branch staff on AML-related policies and requirements.
- Handling and resolving the day-to-day Compliance (AML) related issues in the light of the bank / Compliance policy and the UAE Central bank regulations.
- Support line manager in financial crime-related exams, audits, or historic investigations and implementation of different system delivery.
- Innovate better ways of identifying financial crime risks, typologies, intelligence, bulletins, and the creation of new reports and analyses.
Anti-Corruption/Anti-Money Laundering Officer
Malaysian Government (MACC)
09.2019 - 11.2021
- Acted as an advisory in further enhancing the Malaysian Anti-Corruption Act (2009) in regards of policies and procedures to fight financial crimes by taking inspiration from Decree Federal Law No. (20) of 2018 on Anti-money Laundering and Combating the Financing of Terrorism and Illegal Organisations.
- Developed and maintained a system of internal control to ensure accurate reporting and disclosure.
- Worked closely with Bank Negara (Central Bank of Malaysia) in amending policies and procedures in regards to Anti-Money Laundering Laws and Regulatory requirements.
- Conducted various training seminars in different government organisations in educating the importance of Regulatory Compliance and Anti-Money Laundering laws.
- Acted as the first point of contact for the Malaysian Police and Bank Negara for inquiries in regards to Financial Crimes and Prejudice Offences.
Education
MSc. - Economic Crime Management, Anti-Money Laundering and Financial Crime
HELP University
01.2021
BBI - Banking & Insurance
University Of Mumbai
01.2019
Skills
- Regulatory Compliance
- Risk Mitigation
- Risk Management
- Due Diligence
- Anti-Money Laundering
- Investigation
- Psychology
- Mitigation
- SAS (Software)
- Security Policies
References
Reference available upon request
Certification
Advanced Training in AML and CFT Laws (CPD) (Crowe Institute) (2023)
LANGUAGES
Malay
Arabic
Hindi
English
Timeline
Compliance Officer (DMLRO)
Fasset
02.2025 - Current
KYC Specialist
Abu Dhabi Islamic Bank
03.2024 - 02.2025
Anti-Money Laundering Officer (Regulatory Compliance & Transaction Monitoring)
AL ANSARI EXCHANGE LLC
03.2023 - 02.2024
Assistant Manager AML (Transaction Monitoring)
Emirates Islamic Bank
09.2022 - 12.2022
Anti-Money Laundering Officer
Dubai Islamic Bank
12.2021 - 03.2023
Anti-Corruption/Anti-Money Laundering Officer
Malaysian Government (MACC)
09.2019 - 11.2021
BBI - Banking & Insurance
University Of Mumbai
MSc. - Economic Crime Management, Anti-Money Laundering and Financial Crime
HELP University