Page 402 - MOE ENGLISH PR REPORT - AUGUST 2024

8/16/24, 1:44 PM Ministry of Economy Enhances Implementation of UAE’s Anti-Money laundering Regulations
(FIU) of suspicious transactions where necessary, and the failure to verify
customers' databases and transactions against names on terrorism lists.
Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, stated:
“The UAE reaffirms its commitment to developing a comprehensive legislative
and regulatory system for anti-money laundering and achieving the highest
levels of compliance with the due diligence regulations for the responsible
sourcing of gold.”

He added: “The Ministry continues to strive to strengthen its supervisory role
across various DNFBP sectors in the country, which include the operations of
the precious metals and gemstones industry and their trade, the activities of real
estate agents, company service providers, and auditors.

We are intensifying inspection campaigns to ensure the highest levels of
compliance with the UAE’s AML/CFT law.”
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