Risk-Based AML/CFT Approach in the UAE: Key Elements

Risk-based vs. rule-based approach A risk-based decision-making approach is proactive and does not rely on a checkbox. A rule-based approach, on the other hand, is based on using a set of predefined rules to determine the best course of action. A rule-based approach is not adaptable to changing circumstances, whereas a […]

KYC Best Practices: AML in the UAE

Introduction: Money laundering is the process of disguising illegally obtained money as legal money. This is usually done by moving funds through a series of transactions, mostly involving foreign banks, in order to conceal the true origin of the money. Anti-money laundering (AML) refers to a set of laws, regulations, and […]

How AML Regulations Work for VASPs or Crypto Companies in UAE

  Virtual Assets are booming in leaps and bounds, thanks to their growing acceptance, attractiveness, and the growing prominence of Blockchain technology in various fields. Virtual assets directly impact the financial sector and the economy in general. Intermediaries are becoming increasingly necessary as Virtual Assets move forward, providing support and facilitating […]