UAE Introduces the New Anti-Money Laundering Law
The new Anti-Money Laundering law (“New AML Law”) enacted as Federal Decree – Law 20 of 2018 took effect on October 2018. It introduces important changes to the AML rules and regulations in the UAE. The decree, which is in line with the requirements and recommendations of Financial Action Task Force, ensures compliance with international standards and lays the foundation for anti-money laundering and countering the financing of terrorism.
For further reading on the New Anti-Money Laundering Law in the UAE, click here.
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Partner & Head – Regulatory & Compliance Services