UAE Prepares for FATF Visit & Inspection

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Abu Dhabi Global Market has tightened its regulatory framework for combating money laundering, terrorist financing and the financing of unlawful organisations, as part of the United Arab Emirates’ preparation for its assessment by the global Financial Action Task Force (FATF) in July or August this year.

The amendments follow the recent revisions made by the Dubai Financial Services Authority last year in October 2018, and the UAE’s Federal Law No. 20 of 2018, implemented in January 2019.