There are certain compliance formalities a UAE business will need to complete annually to comply with Anti-Money Laundering (AML) & Counter Terrorist Financing (CFT) processes. Depending on the nature of your business and the registered business activities goAML registration may apply.
WHAT ARE THE AML LAW & REGULATIONS?
Money laundering and terrorism financing are illegal activities that generate illicit money disguised as legal money worldwide. Therefore, countries have introduced anti-money laundering laws and anti-money laundering policy to fight money laundering.
Federal Decree No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations is the key regulation of the UAE’s AML/CFT efforts. Cabinet Decision No. (10) of 2019 is the implementing regulation of the Federal Decree No. 20 of 2018.