Anti-money launderingIn Arabic: مكافحة غسل الأموال

Definition

The framework of rules and measures that aims to prevent and detect the concealment of the illicit origin of funds. It places obligations on financial institutions and designated professions, such as due diligence and reporting suspicious transactions. UAE federal legislation uses the expression مواجهة غسل الأموال (combating money laundering).

How it varies across the GCC

UAE federal law uses مواجهة غسل الأموال.

The rules that apply to a specific matter depend on the state, any free zone involved and the current text of the law, so check the official source before relying on them.