Compliance

KYC Best Practices: AML in the UAE

Introduction: Money laundering is the process of disguising illegally obtained money as legal money. This is usually done by moving funds through a series of transactions, mostly involving foreign banks, in order to conceal the true origin of the money. Anti-money laundering (AML) refers to a set of laws, regulations,…
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Why should you pay attention to AML compliance in UAE

Oversight of the UAE’s national risk assessment process is provided by the National Committee to Combat Money Laundering and Financing of Terrorism and Illegal Organizations (NAMLCFTC). In accordance with its obligations under the Financial Action Task Force Standards, the UAE identifies and assesses money laundering and terrorist financing risks. The…
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