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Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Guidelines in the United Arab Emirates (UAE)

The UAE has implemented comprehensive guidelines and regulations to prevent money laundering and combat terrorist financing. The following document outlines key points related to AML/CFT in the UAE.

Record Keeping

It is essential for licensed entities to maintain accurate records and documents related to Suspicious Transaction Reports (STRs) and analysis performed. This includes:

  • Suspicious transaction indicator alert records, logs, procedures, recommendations, and decision records
  • Customer due diligence and business relationship monitoring records, documents, and information obtained
  • STRs (internal and external), logs, statistics, and related analysis, recommendations, and decision records

Submission Process

Entities can contact the SCA AMLTF Section for GoAML-related enquiries. For technical support, entities should contact the Technical Team at the FIU.

Thematic Review

In 2022, the National Committee for Combating Money Laundering and the Financing of Terrorism and Illegal Organizations conducted a thematic review on suspicious activity and transaction reporting.

Awareness and Guidance

The SCA provides various guidance documents to help entities comply with AML/CFT regulations. These include:

  • Instructions for the 2023 Annual Return - AML/CFT Risk Assessment
  • Terrorist & Proliferation Financing Red Flags Guidance
  • Industry Alert on “Rising use of virtual currencies by criminals to launder their illegal profit”
  • Interpretative Note on Assessing Jurisdictional Risk and the Consequential Application of AML/CFT Obligations

High-Risk Countries

The SCA maintains a list of high-risk countries, which can be accessed by clicking here.

Related Links

Entities can access various related websites for more information on AML/CFT regulations. These include:

  • MENAFATF
  • Basel AML Index
  • United Nations
  • UAE Central Bank
  • Financial Action Task Force (FATF)
  • National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organizations Committee - NAMLCFTC