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The National Committee for Combating Money Laundering and Financing of Terrorism and Illegal Organisations (NAMLCFTC) approved six-risk assessment reports in addition to guidelines for financial institutions, designated non-financial businesses and professions at its third meeting of the year.
The reports relate to terrorism financing, trade-based money laundering, misuse of legal persons, non-profit organisations, lawyers and the gold sector.
They will help align the legislative and operational frameworks and priorities with the current risks and enhance understanding of risks and to boost cooperation among the competent authorities, the Central Bank of the UAE said in a statement.
The NAMLCFTC also adopted anti-money laundering and countering the financing of terrorism (AML/CFT) guidelines for financial institutions, designated non-financial businesses and professions. The guidelines aim to raise awareness of the importance of adhering to legislation related to financ
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