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 offers condolences by phone to Kuwait’s Interior, Foreign Ministers over martyrs of duty
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs.
View Details
Abdullah bin Zayed holds phone calls with several foreign ministers, officials to discuss regional developments, repercussions of unprovoked Iranian missile attacks on UAE, brotherly nations
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, held a series of phone calls with a number of foreign ministers and officials to discuss the latest regional developments and the repercussions of the unprovoked Iranian missile attacks on the UAE and several countries in the region.
View Details
UAE Condemns Unprovoked Attempt to Target Türkiye with Iranian Ballistic Missile
The United Arab Emirates has strongly condemned the unprovoked attempt to target the Republic of Türkiye with an Iranian ballistic missile for the second time in less than a week. The North Atlantic Treaty Organization (NATO) air defense systems successfully intercepted and destroyed the missile after it entered Turkish airspace.
View Details
Statement by the Ministry of Foreign Affairs
The United Arab Emirates affirms that it is in a state of defense in response to the brutal and unprovoked Iranian aggression, which included the launch of more than 1,400 ballistic missiles and drones targeting infrastructure and civilian sites,
View Details