I am writing this to alert all Real Estate Brokers & Agents, Corporate Services Providers, Independent Accountants & Auditors, Lawyers, Gold and Precious Metal Traders. The UAE is fully committed to combating money laundering and terrorism financing and detecting and deterring them. The Government has put in place institutional framework to address financial crime.
You need to do the following to comply with the Federal Decree-law No. (20) of 2018 On Anti-Money Laundering And Combating The Financing Of Terrorism And Financing Of Illegal Organizations.
All the above carries a cost, however this is for the greater good of the safety of communities and protecting integrity of the financial system.
Failure to comply with the above law and regulations issued thereunder will result in serious consequences including the imprisonment.