AML/CFT Compliance

AML/CFT Compliance

Money laundering has grown more widespread over the past few decades. Both financial institutions and governments are constantly looking for new ways to fight money laundering, and several anti-money laundering policy UAE have been put in place to help this effort to the maximum.

Anti-Money Laundering (AML UAE) laws entered the global arena soon after the Financial Action Task Force was created. An anti-money laundering program consists of rules and procedures that financial institutions adhere in order to prevent and detect activities related to money laundering or terrorist financing. The goal of anti-money laundering measures is to discourage criminals from introducing their illicit funds into the financial system. Money laundering is employed by criminals to conceal the actual source of funds obtained through illegal activities. AML refers to all policies and pieces of legislation that force financial institutions to monitor their clients to prevent money laundering. AML UAE laws require that financial institutions report any financial crime they detect to relevant regulators. CFT compliance, or Combating the Financing of Terrorism Compliance, refers to the set of banking policies and standards used by financial institutions to adhere to the requirements of international anti-money laundering policy UAE. When implemented effectively, AML/CFT controls help alleviate the negative impacts of criminal economic activities and foster integrity and stability in financial markets.


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AML/CFT Compliance in Dubai