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Learn More on how the UAE Strengthens Anti-Money Laundering Law: Key Developments and Amendments
00:00 – Introduction
00:39 – Key Developments in Anti-Money Laundering Legislation
01:00 – Establishment of the Supreme Committee
01:13 – Formation of the National Committee
01:48 – Creation of the Supreme Committee
03:08 – Establishment of the General Secretariat
04:37 – Conclusion
Key Developments in Anti-Money Laundering Legislation
Federal Decree-Law No. 20/2018 initially established the AML regime of the UAE. Still, the difficulty and nature of financial crime required the need for further enhancement in the form of Federal Decree-Law No. 26/2021. Furthermore, the most recent amendment, Federal Decree-Law No. 7/2024, introduces the essential changes that will benefit in combating financial crimes effectively.
The new amendment of Article 11 discusses the National Committee for Combating Money Laundering crimes. According to this article, the governor will be in charge of this committee that will coordinate AML activities across the country. The cabinet formation was proposed by the Minister of Finance. The UAE’s AML regulations have been established through coordinated efforts.
For more details: https://www.professionallawyer.me/legal-articles/criminal-law/uae-strengthens-anti-money-laundering-framework-key-updates-and-amendments
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