Money Laundering

Federal Decree-Law No. (20) of 2018 Concerning Countering Money Laundering Crimes and Combating the Financing of Terrorism and the Financing of Illegal Organizations This Federal Decree-Law constitutes a fundamental pillar in combating money laundering and terrorist financing crimes and enhancing the effectiveness of the legal and institutional framework in the UAE. 

Under the provisions of this law, any person who intentionally transferred or transferred proceeds with the intent of concealing or disguising their illegal source, or who acquired, possessed or used the proceeds upon receipt, or helped the perpetrator of the predicate crime to evade punishment, shall be deemed to have committed a money laundering crime. 

This Decree-Law approved the establishment of the National Committee for Combating Money Laundering and Combating the Financing of Terrorism and the Financing of Illegal Organizations headed by the Governor of the Central Bank of the United Arab Emirates. By law and its executive regulations.