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 congratulates Nigerian FM, discusses bilateral cooperation
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, congratulated Bianca Odumegwu-Ojukwu on her appointment as Minister of Foreign Affairs of the friendly Federal Republic of Nigeria.
View Details
His Excellency Saeed Al Hajeri Meets with Serbia’s Minister of Domestic and Foreign Trade to Discuss Strengthening Economic Relations
His Excellency Saeed Al Hajeri, Minister of State, met with Her Excellency Jagoda Lazarević, Minister of Domestic and Foreign Trade of the Republic of Serbia, on the sidelines of her participation in the “Make it in the Emirates” exhibition in Abu Dhabi.
View Details
Abdullah bin Zayed holds phone calls with several officials, foreign ministers to discuss repercussions of Iranian terrorist attacks on UAE
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, discussed during phone calls with a number of officials and foreign ministers of brotherly countries.
View Details
UAE Condemns Hostile Iranian Statements
The United Arab Emirates has condemned in the strongest terms the statement issued by the Iranian Ministry of Foreign Affairs, reaffirming its categorical rejection of any allegations or threats targeting its sovereignty, national security, or independent decision-making.
View Details