The United Arab Emirates (UAE) contributes to global anti money laundering efforts and combating financing of terrorism (AML/CFT), and strives to fully implement the standards set by the International Financial Action Task Force (FATF).
Money laundering is defined as any financial or banking transaction aimed at concealing or changing the identity of illegally obtained funds by passing them through the financial and banking system in order to make them appear as originating from legitimate sources, and then re-pumping and investing them in a legal manner contrary to their real nature.
LEGISLATION, RULES AND REGULATIONS
Federal Decree by Law No. (20) of 2018 on Anti Money Laundering and Combating the Financing of Terrorism and Illegal Organizations
Cabinet Decision No. (10) of 2019 Concerning the implementing regulation of decree law no. (20) of 2018 on anti- money laundering and combating the financing of terrorism and illegal organizations
Cabinet Decision No. (58) of 2020 Regulating the Beneficial Owner Procedures
Cabinet Resolution No 53 of 2021 Concerning the Administration Penalties
Cabinet Resolution No (74) of 2020 regarding the Terrorism Lists Regulation and Implementation of UN Security Council Resolutions on the Suppression and Combatting of Terrorism, Terrorist Financing, Countering the Proliferation of Weapons of Mass Destruction and its Financing, and Relevant Resolutions
Guidance available for the Designated Non-Financial Businesses and Professions (Auditors, Dealers in Precious Metals and Stones, Real Estate, Trust and Company Service Providers) on Ministry of Economy portal
Please send any questions you may have with regard to Registration on GoAML system on the following email : email@example.com