The UAE takes its role in protecting the integrity of the global financial system extremely seriously. This means actively administering and enforcing economic and trade sanctions. The UAE has the essential components of a sanctions compliance program in place, including engaging with the private sector to further promote understanding of, and compliance with, sanctions requirements.
The UAE government does not seek to comment on specific, or ongoing investigations. However, where the integrity of the UAE’s compliance commitments is called into question, or the UAE is wrongfully perceived to ignore apparent violations, we have a duty to respond.
The UAE confirms that a thorough and comprehensive investigation is fully underway into the three named entities. This includes using recent legislative changes (Cabinet Resolution no 58), designed to improve corporate transparency through a framework for reporting and registering beneficial ownership.
The scale and complexity of financial crime has increased. So too has the UAE’s awareness and understanding of it. That is why the UAE is committed to taking action. This is reflected in the high-level policy and political commitment to establish and operate a sophisticated financial crime compliance system.
This includes a shared objective across all UAE entities to prevent, detect, and deter illicit activity in the financial system. As part of this, we are improving the way we are sharing information across our financial sector and with law enforcement and government.
Related News
Abdullah bin Zayed, Egyptian Foreign Minister discuss relations, regional developments
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, discussed during a telephone call with Dr. Badr Abdelatty, Minister of Foreign Affairs, International Cooperation,
View Details
UAE Strongly Condemns Hostile Drone Attacks by Iran on Bahrain
The United Arab Emirates has condemned in the strongest terms the hostile drone attacks by Iran that targeted the Kingdom of Bahrain.
View Details
Abdullah bin Zayed, Nawaf Salam discuss bilateral ties, developments in Lebanon
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, discussed the close fraternal relations between the UAE and Lebanon and ways to further strengthen them in support of their mutual interests during a telephone call with Dr. Nawaf Salam, Prime Minister of the Republic of Lebanon.
View Details
UAE Welcomes Trilateral Framework Agreement Facilitated and Supported by U.S.
The United Arab Emirates has welcomed the announcement by Lebanon and Israel regarding reaching a trilateral framework agreement, facilitated and supported by the United States, and commended the diplomatic efforts by U.S. President Donald Trump, and His Excellency Marco Rubio, U.S. Secretary of State, in facilitating this agreement.
View Details