The announcement comes as regional financial centres face mounting pressure to demonstrate their commitment to combating illicit financial flows
terrorist financing
Latest in terrorist financing
FATF
Why coming off the FATF grey list means stronger trade for the UAE
The removal opens doors to new opportunities and increased investor confidence
anti money laundering
Relief for UAE businesses as FATF grey list exit smooths trade flows, boosts foreign investment outlook
Experts from across industries hail the move as a major boost for the UAE’s financial reputation and economic prospects for the region
anti-money laundering
UAE grey list removal is a testament to the nation’s continued resolve to combat financial crime
The next step in the UAE’s continuous efforts will come later this year when the new National Strategy and Plan for 2024-27 is launched
Abu Dhabi
UAE exits FATF grey list: Dubai real estate to ‘benefit most’, say experts
The UAE’s removal from the FATF’s financial crime watchlist is expected to spur economic growth, particularly in the Dubai real estate sector, attracting increased foreign direct investment and institutional funds, according to experts
anti-money laundering
UAE shuts 50 companies in Q3 2023 for failure to register for anti-money laundering
The FIU examines these transactions and activities to detect and prevent financial crimes that could undermine the UAE’s regulatory efforts
Abu Dhabi
ADGM publishes risk assessment report on money laundering and terrorist financing
The report enhances ADGM’s granular understanding and detailed knowledge of risks specific to each Legal Person and Arrangement type
anti-money laundering
UAE delegation heads to US to discuss anti-money laundering efforts
Among the topics discussed in the meeting include efforts to mitigate risks associated with virtual assets, illegal wildlife trafficking, and refining the UAE’s proliferation financing risk assessment
Abu Dhabi
UAE Deputy Prime Minister reviews progress on anti-money laundering, countering terrorism financing efforts
The UAE is closely coordinating with its international partners to identify, disrupt, and punish criminals and illicit financial networks
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anti-money laundering
Regulatory framework to address money laundering risks across virtual assets to be issued soon: SCA
The Securities and Commodities Authority is the sole authority in the UAE mainland – with the exception of the financial free zones, ADGM and DIFC – for licencing, supervising, and overseeing the virtual assets activities and services issued for investment purposes
Counter Terrorism
UAE places one individual, five organisations linked to financing Houthi militia on terrorism list
Decision comes as part of UAE’s efforts to disrupt networks associated with the financing of terrorism and its associated activities
Financial transparency in business
New UAE ultimate beneficial owner law looks to crack down on money laundering
New regulations ensure financial transparency around business ownership to better combat money laundering and terrorist financing
Dubai
Mashreq Bank reaches $40m settlement with New York authorities
Mashreq Bank says it is committing ‘substantial’ resources to enhancing its New York branch