Skip to main content

Clifford Chance

Clifford Chance
Briefings

Briefings

Proposed new AML regime for the DIFC

24 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.

Download PDF