Anti-Financial Crime & Financial Crime Compliance
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AML, Financial Crime, UAE

UAE central bank issues AML/CTF guidance for dealing with virtual assets

By Lisa Barrington

The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidance for financial institutions when dealing with virtual assets, such as cryptocurrencies and non-fungible tokens, it said on Wednesday.

The new guidance discusses the risks arising from dealing with virtual assets and virtual asset service providers, including on due diligence for licensed financial institutions when dealing with these customers and counterparties, the statement said.

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