Lily Eid
Compliance Specialist,
Dubai, UAE
T. +971 4 528 5555
E. lily.eid@bsabh.com
Lily serves as the firm's Money Laundering Reporting Officer (MLRO)
Overseeing daily operations to ensure BSA LAW's compliance with AML policies and controls. She acts as the primary contact for notifications from employees, takes appropriate action, files Suspicious Activity Reports, and liaises with U.A.E. authorities and the DFSA. Moreover, she promptly responds to information requests and addresses relevant findings and maintains a comprehensive money laundering training program and awareness initiatives.
Lily is a detail-oriented internal auditor and MLRO with over ten years of experience, specializing in solving complex problems. Operating from BSA's DIFC office, she provides Money Laundering Support Officer services and assists senior management in developing comprehensive AML and compliance policies. She conducts periodic technical reviews, offering improvement recommendations to senior management and board members.
Lily has contributed to setting corporate and country-level risk appetite limits and risk tolerance levels by advising on compliance risks and integrating compliance risk management into overall risk and corporate governance frameworks. She establishes effective compliance risk metrics and assesses the implementation status of related policies.
Her role also includes identifying the firm's legal and regulatory compliance requirements, implementing related policies, and ensuring compliance with applicable laws.
Prior to joining BSA, Lily held various positions with banks and auditors.
Areas of expertise
services
- Regulatory & Compliance
Education & qualifications
- Master of Business Administration – Major in Audit and Accounting, The Lebanese University, December 2015
- Certified Global Sanctions Specialist (CGSS) - 2024
- Certified Anti-Money Laundering Specialist (CAMS) - 2021
- Certified Fraud Examiner (CFE) – 2019
Latest Insights
The UAE's Removal from FATF Grey List: A Victory of Public-Private Partnership and Promising Economic Prospects
The United Arab Emirates (UAE) achieved a significant milestone on February 23, 2024, as it was removed from the Financial Action Task Force's (FATF) "Jurisdictions under Increased Monitoring" list, commonly...
Overview of the DNFBP AML Requirements in the UAE with a specific focus on real estate brokers
Designated Non-Financial Business or ProfessionIn the context of the United Arab Emirates (UAE), the term "DNFBP" refers to Designated Non-Financial Business or Profession. DNFBPs are businesses or professions that are...
Anti-Money Laundering and Compliance: The Latest Regulations
Throughout 2022, the United Arab Emirates (UAE) has reaffirmed its ongoing commitment and efforts to strengthen its regulatory framework in relation to anti-money laundering (AML) and counter terrorist financing (CFT)....
New CBUAE guidance for licensed financial institutions
Over the past two years, the UAE Central Bank (“CBUAE”) has been actively working on issuing updated circulars to address the growing concerns and challenges relating to money laundering, financing...
CrowdStrike Incident Prompts Overview of UAE Cybersecurity Legislation
A routine software update by cybersecurity giant CrowdStrike recently triggered...
Data Protection in the UAE: Why are the Executive Regulations so essential?
The UAE legislator was among the first in the region...
Curbing monopolistic practices under the UAE’s New Competition Law
Recently the UAE Federal Government promulgated Federal Decree Law No....
A general introduction to Space Law in Saudi Arabia
You can download the PDF version here.I INTRODUCTION Saudi Arabia is...
Revealed: Tax strategies for high-net-worth individuals in the UAE
The UAE strategic location with access to international markets and...
Lifting the Burden on Debtors: Dubai Courts Facilitate the Ease of Settling Debt
When a judgment is handed down ordering a debtor to...
Tax Strategies for Expats in the UAE
The United Arab Emirates (“UAE”) has long enjoyed a reputation...