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UAE introduces guidelines to combat anti-money laundering
Out-Law News | 22 Apr 2021 | 10:49 am | 1 min. read
The United Arab Emirates (UAE) has issued new guidelines on anti-money laundering (AML) and combatting the financing of terrorism (CFT) to raise awareness of the importance of adhering to financial crime legislation.
The National Anti Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC) adopted the guidelines for financial institutions, designated non-financial businesses and professions earlier in April.
The guidelines are set to be published on the NAMLCFTC and other regulatory bodies’ websites, to increase knowledge of the rules and ensure action by licensed entities.