Who does AML apply to?
In UAE, the following entities are subject to the anti-money laundering (AML) laws and regulations:
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Financial Institutions
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Insurance Companies
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Virtual Asset Services Providers (VASPs)
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Designated Non-Financial Businesses and Professions (DNFBPs) including:
- Dealers in Precious Metals and Stones
- Real Estate Agents and Brokers
- Trust and Corporate Service Providers
- Auditors and Independent Accountants
- Lawyers, Notaries and Other Legal Professionals"
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