Category: Anti Money Laundering

  • FATF UAE Mutual Evaluation and NAMLCFT Committee

    In April 2020, the international Financial Action Task Force (FATF) issued a Mutual Evaluation Report (MER) on the UAE’s AML/CFT measures. The assessment was conducted in 2019. The MER analyzed the UAE’s compliance with FATF 40 recommendations. It also analyzed the effectiveness of the UAE’s AML/CFT system. Thereby, providing recommendations on strengthening the system. The […]

  • Dealers in Precious Metals and Stones

    Dealers in Precious Metals and Stones in UAE

  • UAE Decree Federal Law and Executive Regulation

    Federal Decree No. (20) of 2018 is a fundamental pillar of the UAE’s AML/CFT efforts. This Decree stipulated the establishment of:  a committee dedicated to AML/CFT objectives, under the chairmanship of the Governor of the CBUAE; and an independent Financial Information Unit (FIU) to receive and investigate all reports submitted by financial institutions and other […]

  • AML CFT Supervision by the CBUAE

    The CBUAE established a dedicated department in August 2020 to handle all Anti-Money Laundering and Combatting the Financing of Terrorism matters (AML/CFT), which the Banking Supervision Department handled previously.  The Anti-Money Laundering and Combatting the Financing of Terrorism Supervision Department (AMLD) serves three key objectives:  examining Licensed Financial Institutions (LFIs);  ensuring adherence to the UAE’s […]