By Alisha Houlihan for AMLi
The United Arab Emirates’ Central Bank has issued a new set of guidelines on anti-money laundering, aimed at assisting licensed financial institutions (LFIs) in tackling money laundering and terrorist financing.
In a statement, the Central Bank affirmed that LFIs would be obliged to develop internal policies, controls and procedures to mitigate AML/CFT risks, and would be required to demonstrate compliance with all requirements within one month.
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