#Anti-Money Laundering

UAE unveils AML, CFT national strategy 2024-27 Image courtesy WAM

UAE approves new AML, CFT national strategy for 2024-27

The strategy, formulated around 11 strategic goals, introduces legislative and regulatory reforms to combat money laundering and terrorism financing

Inaugural 24 Fintech - mozn

Mozn: Pioneering AI solutions in fintech, fraud prevention, and compliance

Mozn is making waves in the global fintech landscape with its cutting-edge platform, FOCAL as the company showcases its latest innovations at the 24 Fintech event in Riyadh

UAE suspends 32 gold refineries for AML/CTF lapses

UAE temporarily suspends 32 gold refineries for AML/CTF lapses

The ministry of finance said its inspections of the refineries uncovered 256 violations, eight for each refinery

DIFC’s five-year innovation strategy for financial services

UAE’s great grey list escape: A ‘gradual thaw rather than instant spring’

The grey-list exit will increase the international community’s confidence in the country’s financial services sector

UAE exits FATF’s ‘grey list’ amid reforms

An exit from the grey list marks a swift turnaround for the UAE, which was initially added to the list of jurisdictions under increased monitoring in March 2022

Mirabaud

DFSA fines bank Mirabaud $3m for anti-money laundering controls failings

The penalty includes disgorgement of $975,000, reflecting the economic benefit Mirabaud gained from its violations in the form of fees and commissions

Central-Bank passes new AML guidelines for PEP

CBUAE issues anti-money laundering guidelines related to ‘politically exposed persons’

These guidelines follow CBUAE’s recently introduced AML/ CFT guidance for licensed financial institutions on risks related to payments

CBUAE issues AML guidelines

Central Bank of UAE issues new guidelines on anti-money laundering

The new guidelines state that licensed financial institutions should have compliance programmes in place to mitigate payment-related risks

UAE Central Bank

UAE Central Bank issues new guidance on transaction monitoring and sanctions screening

The guidance came into effect on Monday, September 13, with licensed financial institutions being given a month to demonstrate compliance

Dubai court money laundering

New court in Dubai to fight money laundering cases

It has been set up within the Court of First Instance and Court of Appeal

Dubai’s DFSA appoints F. Christopher Calabia as new chief

He will succeed Bryan Stirewalt with effect from October 1, 2021

UAE Central Bank fines individual Dhs600,000 under anti-money laundering law

The fine was imposed because the individual had no authorisation to undertake a function that required prior approval from the Central Bank

Exchange house in UAE fined Dhs504,000 by Central Bank

The exchange house reportedly has a weak anti-money laundering and combating financing of terrorism compliance framework

UAE Central Bank imposes fines worth Dhs45.75m on 11 banks

The financial sanctions were imposed on January 24, 2021