CBUAE issues new AML/CFT guidance for licensed financial institutions
The Central Bank of the UAE (CBUAE) has issued updated guidance on anti-money laundering and combatting the financing of terrorism (AML/CFT) compliance for all licensed financial institutions. This applies to banks, investment firms, money services businesses, and other regulated entities operating in the UAE.
The analysis — automated & source-checked
- Applies to
- Financial services · UAE
- What to do
- Review the CBUAE guidance and update your AML/CFT policies, procedures, staff training, and transaction monitoring systems to comply. Consult the full guidance on the CBUAE website for implementation timelines and specific requirements.
Source
“The Central Bank of the UAE (CBUAE) has issued updated guidance on anti-money laundering and combatting the financing of terrorism (AML/CFT) compliance for all licensed financial institutions. Licensed institutions must review the guidance immediately and align their policies, procedures, and controls to meet the new standards.”
— Central Bank of UAE, 31 May 2023
Source: Central Bank of UAE — official 31 May 2023 Read the original ↗ More from Central Bank of UAE →
Quick answers
What do I need to do?
Review the CBUAE guidance and update your AML/CFT policies, procedures, staff training, and transaction monitoring systems to comply. Consult the full guidance on the CBUAE website for implementation timelines and specific requirements.
Who issued this?
Central Bank of UAE (UAE).
When was it announced?
31 May 2023.
Where can I read the original?
Read the original at Central Bank of UAE: https://www.centralbank.ae/en/news-and-publications/news-and-insights/press-release/cbuae-issues-new-guidance-for-licensed-financial-institutions-on-anti-money-laundering-and-combatting-the-financing-of-terrorism/
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