DIFC amends anti-money laundering law in bid to fight financial crime

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October 4 2018

Anti-money laundering laws in Dubai International Financial Centre (DIFC) will see changes implemented on October 29 in order to enhance the free zone’s ability to fight financial crime.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai, made the changes to regulate the Dubai Financial Services Authority’s anti-money laundering rules.

They include strengthening provisions on DIFC’s non-financial businesses to strike them off the register in the event of non-compliance.