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Regulatory intelligence: UAE lawyers express surprise at FATF findings, say compliance will take time but intent is good

Source : Thomson Reuters

Charles Laubach

Lawyers have expressed surprise at the severe findings of a report by the Financial Action Task Force (FATF) highlighting deficiencies
in the United Arab Emirates anti-money laundering framework. In 2018, the UAE rolled out new anti-money laundering/countering the
financing of terrorism (AML/CFT) legislation, and last year took steps to tighten up regulations in the financial free zones. This followed
FATF visits in 2008 and 2014.


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