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AML, Financial Crime, Sanctions

US Deputy Treasury Sec. warns UAE financial sector to be vigilant in combating Russian sanctions evasion

By Elizabeth Hearst for AMLi

The US Deputy Treasury Secretary has warned the United Arab Emirates’ financial sector to be vigilant in tackling Russian sanctions evasion following the implementation of tough economic sanctions on Moscow.

On a recent state visit to the UAE, Deputy Treasury Secretary Wally Adeyemo said the UAE faced the “threat of illicit financial flows”, and cautioned the need for “vigilance and proactive action” in tackling potential sanctions evasion.

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