by Danissa Guotana | Aug 8, 2023 | AML
The UAE’s Executive Office of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) has held a workshop with the World Bank to boost its framework against financial crimes, The event this week was the second workshop of the...
by Danissa Guotana | Aug 2, 2023 | AML
The Dubai Financial Services Authority (DFSA) on Tuesday said it imposed a fine of $3.02 million Dh11.1 million) on the bank Mirabaud (Middle East) Limited for having inadequate anti-money laundering (AML) systems and controls between June 2018 and October 2021. The...
by Danissa Guotana | Jul 31, 2023 | AML
The UAE is to establish federal prosecution offices dedicated to money laundering and other economic crimes. The directive – which was proposed by the Attorney General – was approved by the Federal Judicial Council, chaired by Minister of Justice, Abdullah...
by Danissa Guotana | Jul 28, 2023 | AML
We’ve improved the capacity, skills, and effectiveness of law enforcement authorities in the UAE to detect and investigate money laundering cases, the founding Director General of the Executive Office for Anti-Money Laundering and Counter Terrorism Financing, told...
by Danissa Guotana | Jun 20, 2023 | AML, Business
The UAE Central Bank has issued new guidance on anti-money laundering and combating the financing of terrorism (AML/CFT) for licensed financial institutions (LFIs) with a focus on the risks of dealing with virtual assets. It applies to LFIs such as banks,...
by Danissa Guotana | Jun 1, 2023 | AML, Business
In the first quarter of 2023, the Ministry of Economy imposed fines worth Dh65.9 million on 137 companies operating in the UAE’s designated non-financial business or professions (DNFBP) sector, following an inspection of 840 companies for failing to comply with...
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