Lawyers’ Guide on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations

The Ministry of Justice UAE has issued and published the Lawyer’s guide on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations. The guide is aimed at ensuring adherence to the Federal Decree Law no. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations, its Implementing Regulation issued by Cabinet Resolution no. (10) of 2019, and its Executive Resolutions.

It also aims to protect lawyers from the use of their law firms in Money Laundering and Terrorism Financing crimes. It identifies the core duties and obligations of lawyers in accordance with the Federal Decree Law no. (20) of 2018 and its Implementing Regulations and Executive Resolutions.

It illustrates the reporting modalities and the mechanism for reporting suspicious transactions or suspicious activity. It aims to promote and protect the credibility and integrity of the financial system of the State. It explains the methods for identification, assessment, and mitigation of Money Laundering and Terrorism Financing risks.