What is Anti-Money Laundering in the UAE?
With the aim to combat the crimes of money laundering, terrorism financing and proliferation financing, the UAE government has enacted anti-money laundering (AML) laws. The principal AML law in UAE is the Federal Decree-Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations. Cabinet Decision No. (10) of 2019 Concerning the Implementing Regulation of Decree-Law No. (20) of 2018 provides AML compliance requirements for certain entities such as financial institutions, dealers in precious metals and stones, real estate agents, etc.
For a deeper understanding, check out our Guide to AML Laws in UAE in 2024 here: