United Arab Emirates: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

September 19, 2008

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United Arab Emirates: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2008) accessed September 19, 2024

Summary

This paper highlights the detailed assessment report on antimoney laundering (AML) and combating the financing of terrorism in the United Arab Emirates (UAE). The AML law needs to be amended to expand the range of predicate offences and to provide greater powers for the financial intelligence unit. The authorities have taken positive initiatives to address the issue of Hawala dealers, and have introduced a voluntary system of registration and reporting. The central bank intends progressively to formalize its oversight regime for this sector.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Customs unions, International trade, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing

Keywords: AML law, Anti-money laundering and combating the financing of terrorism (AML/CFT), Beneficial owner, CFT law, Court order, CR, Customs unions, Global, ISCR, Judicial proceeding, Legal support in revenue administration, Money laundering, Penal code, South Asia, Terrorism financing

Publication Details

Pages:

243
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/305
Stock No:

1AREEA2008001
ISBN:

9781451801217
ISSN:

1934-7685

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