Anti-Money Laundering (AML)
In an effort to monitor the illegal funds, Federal Law No 20 of 2018 was introduced in the United Arab Emirates on Anti-Money Laundering for combating the financing of terrorism and financing of illegal organizations.
Anti Money Laundering (AML) is the execution of transactions to eventually convert illegally obtained money into legal money. AML legislation is becoming increasingly strict for financial service providers. They must be prevented from financing money laundering and / or terrorism.