CBUAE issues guidances for its licensed financial institutions on anti-money laundering and combatting the financing of terrorism

The Central Bank of the UAE has issued two new Guidances on anti-money laundering and combatting the financing of terrorism (AML/CFT) for its licensed financial institutions (LFIs) on suspicious transaction reporting and legal persons/arrangements. The Guidances will assist the understanding and mitigation of risks as well as the effective performance…