The Central Bank of the United Arab Emirates published new anti-money laundering and counterterrorist financing guidance for regulated institutions related to virtual assets and virtual asset service providers.
The United Arab Emirates’ state-run news agency issued a summary of the latest outcome of the latest Middle East and North Africa Financial Task Force’s evaluation of the country’s anti-money laundering and counterterrorist financing regime.
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The United Arab Emirates Ministry of Economy imposed AED 22.6 million in fines on 29 companies in the designated non-financial businesses and professions sector for anti-money laundering and counterterrorist financing failures.
The Central Bank of the United Arab Emirates imposed AED1,800,000 on an unnamed finance company for violations of federal anti-money laundering and counterterrorist financing laws.
Technical | Effectiveness |
---|---|
Compliant : 13 | High : 0 |
Largely Compliant : 23 | Substantial : 1 |
Partially Compliant : 4 | Moderate : 6 |
Non-Compliant : 0 | Low : 4 |
The United Arab Emirates' technical compliance was re-rated in a Jan. 28, 2022 follow-up report.
Rank : 37/141 |
Score : 5.89/10 |
Rank : 21/180 |
Score : 71/100 |
Rank : 10/133 |
Score : 78/100 |