Regulatory Framework

UAE Federal AML, CTF and CPF Legislation

UAE Federal AML, CTF, and CPF legislation places obligations on all Relevant Persons in the DIFC to prevent, detect, and report money laundering, terrorism financing, and proliferation financing activities while ensuring compliance with sanctions.

The principal UAE Federal AML/CTF/CPF legislation includes:

• Federal Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations.
• Cabinet Decision No. 10 of 2019 on Implementing Regulations for Federal Law No. 20 of 2018.
• Cabinet Decision No. 74 of 2020 on the UAE List of Terrorists and Implementation of UN Security Council Resolutions on Preventing and Countering Terrorism and Non-Proliferation of Weapons of Mass Destruction.
• Federal Law No. 7 of 2014 on Combating Terrorism Offences.
• Regulation No. 24/2019 on cross-border transportation of currency, negotiable instruments, and precious metals/stones.
• Federal Law No. 5 of 2012 on Cyber Crimes (amended).
• Federal Law No. 3 of 1987 (Penal Code).
• Federal Penal Procedures Law No. 35/1992 (as amended).
• Central Bank Decision No. 164/19 on AML, CTF, and illicit organisation procedures.
• Guidelines from Financial Institutions on AML and CTF as issued by the UAE Central Bank (2019).
• Ministerial Decision No. 278/2019 establishing the Department of Combating Money Laundering and the Financing of Terrorism.
• Ministerial Decision No. 533/2019 on combating money laundering and financing terrorism procedures.
• Ministerial Decision No. 539/2019 on Committee management for seized, frozen, or confiscated assets.

This framework establishes ASMEC’s foundation for implementing a robust and transparent AML/CTF and CPF regulatory regime consistent with international standards.