Technically you can, but at the end of the day, screening not only serves a legal purpose, it also screens your potential business partners against these lists, and ensures that any red flags that may land you in hot waters with regulation bodies later on are identified from the very onset of a formal relationship. 

Should you continue to do (unwittingly or not) business and financial transactions with potentially risky parties that you omitted to screen and vet, be prepared to:

• Pay fines above AED 1 million 
• Face jail time for failing to report risky entities to authorities in UAE
• Face suspension of your business activities in UAE
• Have your license revoked
• Endure a lasting damage to your business’ reputation and integrity.

In addition to the above, being labelled as a non-compliant business could lead you to face repercussions beyond the UAE borders too. Financial institutions and global regulatory bodies abroad can restrict or sever ties with your business if you fail to conform to AML standards, dooming your business to an irreversible fate of extinction locally and overseas.