UAE – Ministry of Economy organizes money-laundering workshops
Wednesday, 03 17 2021, Category: Economy, Country: U.A.E
The Ministry of Economy, in cooperation with the Financial Information Unit, organized two workshops for the enterprises of the business sector and specific non-financial professions, attended by more than 1000 companies of activities classified within the sector, including agents and real estate brokers, dealers of precious metals and gemstones, auditors, and companies’ service providers. To make these facilities aware of the concept of money laundering and terrorist financing.
The two workshops focused on introducing the target companies to the steps to register in the goAML system, and the requirements to be implemented by appointing a compliance officer and reporting to the FIU about suspicious financial transactions through the system and how to identify those transactions.
The Ministry announced that it will present a number of additional workshops in this file in the coming days and weeks, explaining that the main goal of these workshops is to educate the targeted private sector companies about the dangers of money laundering and combating the financing of terrorism, and to raise their level of awareness of the importance of keeping pace with the government’s efforts in the file of combating money laundering and enhancing compliance with the provisions of And the requirements of Federal Decree-Law No. 20 of 2018 regarding countering money laundering, combating the financing of terrorism and financing illegal organizations, its implementing regulations and related decisions, and carrying out the role and responsibilities required of them in this regard.