News & Analysis as of

Financial Crimes United Arab Emirates (UAE)

Awatif Mohammad Shoqi Advocates & Legal...

Cheque Bounce in 2025

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

Awatif Mohammad Shoqi Advocates & Legal...

Fresh Amendments to Law On Financial Audit Authority: Offending Employees Now Face Travel Ban and Asset Seizure

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

Awatif Mohammad Shoqi Advocates & Legal...

The Establishment of the General Commercial Gaming Regulatory Authority (GCGRA): A Transformation of the Gaming Industry in the...

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

Awatif Mohammad Shoqi Advocates & Legal...

Regulations and Restrictions on Carrying Cash, Jewellery, and Alcohol While Traveling in the UAE

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

Awatif Mohammad Shoqi Advocates & Legal...

UAE Strengthens Anti-Money Laundering Framework: Key Updates and Amendments

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

BCLP

Confronting and Mitigating Against Corruption

BCLP on

Construction is a $1.7 trillion industry worldwide, contributing between 5 and 7 percent of GDP in most countries. However, it is also an industry that is highly vulnerable to corruption due to its inherent characteristics....more

Awatif Mohammad Shoqi Advocates & Legal...

Understanding the Ultimate Beneficial Owner in UAE Businesses: Insights from Cabinet Decisions No. 109/2023 and No. 132/2023

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

Hogan Lovells

UAE removed from the FATF's grey list

Hogan Lovells on

The Financial Action Task Force ("FATF") has announced that the UAE has been removed from its 'grey list' following substantial improvement in the stringency of its anti-money laundering ("AML") and combating the financing of...more

Awatif Mohammad Shoqi Advocates & Legal...

UAE Law and Employee Misuse of Company Funds: What You Need to Know

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

Awatif Mohammad Shoqi Advocates & Legal...

UAE’s Commitment to Anti-Money Laundering Compliance: Regulatory Impacts on the UAE’s Financial Sector

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

American Conference Institute (ACI)

[Event] 2nd Forum on Digital Assets Compliance: AML, Sanctions and Regulatory Oversight - October 17th - 18th, New York, NY

With so many new, emerging risks coming to the forefront, ACI is excited to announce our Digital Assets Compliance: AML, Sanctions and Regulatory Oversight. Unlike other conferences, this highly anticipated event stands apart...more

Ius Laboris

Employee whistleblowing in the UAE

Ius Laboris on

While the area is still developing, some whistleblower protections are already on the books in the UAE. ...more

Latham & Watkins LLP

UAE Central Bank Issues Guidance on Anti-Money Laundering Risks in the Payment Sector

Latham & Watkins LLP on

The guidance is part of the rapidly evolving rules on anti-money laundering and aims to promote UAE as a jurisdiction compliant with best practices. On August 1, 2022, the UAE Central Bank (CBUAE) issued the Guidance for...more

McDermott Will & Schulte

New Whistleblowing Regime Introduced by the Dubai Financial Services Authority

On 7 April 2022, changes to DIFC Regulatory Law 2004 and the DFSA Rulebook came into force, to implement proposals concerning a whistleblowing regime that were consulted on by the DFSA in 2021. The Regime applies to all...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for October 2021

Morrison & Foerster LLP on

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and case developments from the past month,...more

Vinson & Elkins LLP

UAE further strengthens its AML protections with creation of specialist AML court

Vinson & Elkins LLP on

The United Arab Emirates (the “UAE”) has announced a new division of its court system established specifically to hear cases relating to money laundering and financial crime. This new Court, an integral element of the UAE’s...more

McDermott Will & Schulte

Dubai Announces Creation of Specialist Court to Hear Financial Crime Cases

The Government of Dubai Media Office announced the establishment of a specialist court to hear cases relating to money laundering and financial crime. This is one of several steps taken over the last few years to tackle...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - January 2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including DOJ guidance on the use of corporate monitors in criminal...more

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