Digital currency, or cryptocurrency, is an alternative payment method developed with encryption methods. Encryption technology enables cryptocurrencies to act as both a currency and a virtual accounting system. The use and...more
In simple words, a cheque is an order to a bank to pay a particular sum of money from the account of the issuer of the cheque, written on a specifically printed form. The issuer of the cheque is called the drawer, while the...more
2/20/2025
/ Banks ,
Consumer Financial Products ,
Criminal Penalties ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
Forgery ,
Fraud ,
Insufficient Funds ,
Regulatory Requirements ,
United Arab Emirates (UAE)
The advent and rise of cryptocurrency have been a disruptor to the traditional currency system. Even outside the virtual aspect of the currency, the concept is novel due to its accessibility and the level of anonymity...more
2/17/2025
/ AML/CFT ,
Anti-Money Laundering ,
Central Bank Digital Currency (CBDCs) ,
Compliance ,
Cryptocurrency ,
Financial Crimes ,
Financial Regulatory Reform ,
Financial Services Industry ,
Money Laundering ,
Regulatory Requirements ,
Virtual Currency
The Emirate of Dubai has recently passed new amendments to the existing “Dubai Law No. 4/2018 on the Establishment of the Financial Audit Authority” (“LAW”). As per the new amendments, financial fraud and misconduct in...more
1/27/2025
/ Anti-Money Laundering ,
Asset Freeze ,
Audits ,
Corporate Governance ,
Dubai ,
Enforcement Actions ,
Financial Crimes ,
Fraud ,
Government Entities ,
Misappropriation ,
Penalties ,
Public Funds ,
Regulatory Reform ,
Regulatory Requirements ,
Travel Ban ,
United Arab Emirates (UAE)
In a significant regulatory development, the UAE has established the General Commercial Gaming Regulatory Authority (GCGRA). The GCGRA’s creation signals a shift in the legal landscape of commercial gaming in the region,...more
Travelling to the UAE requires awareness of specific customs rules and regulations regarding cash, jewellery, and alcohol to ensure a smooth travel experience. These regulations are designed to ensure compliance with local...more
The UAE has reinforced its commitment to combating financial crime with significant updates to its anti-money laundering (AML) legislation. Federal Decree-Law No. 20/2018, which originally established the framework for...more
In recent years, the UAE has taken significant steps to enhance transparency and combat financial crimes within its business landscape. Central to these efforts is the identification and regulation of Ultimate Beneficial...more
Introduction -
The UAE has a comprehensive legal framework governing labour relations and financial crimes. Employers in the UAE have clear guidelines for terminating workers without notice in the case of serious offences,...more
The UAE has demonstrated a strong commitment to combating money laundering, terrorist financing and the financing of unlawful organizations. This commitment is reinforced by Federal Decree-Law No. 20/2018 and its amendments,...more