Clifford Chance
New AML Regime for the DIFC
23 October 2012
The Dubai Financial Services Authority ("DFSA") has released Consultation Paper No. 86 regarding proposed changes to the DFSA's Anti-Money Laundering and Ancillary Service Provider Regime (the "Consultation").
The DFSA is proposing to replace its current Anti-Money Laundering Module ("AML") with a new AML module updated in line with the revised Financial Action Task Force ("FATF") principles.
The proposals come at a time when the UAE federal authorities are also reviewing and updating the UAE laws and regulations pertaining to money laundering and terrorist financing.
The Consultation is open for comment until 16 December 2012.
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New AML Regime for the DIFC
