UAE steps up AML/CFT monitoring
New “smart” system forms latest cog in effort to stem illegal money transfers
Regulators in the United Arab Emirates have launched a new “smart” anti-money laundering and counter-terrorist financing system.
According to a statement from the nation’s central bank, the system – named Fawri Tick – will integrate and aggregate AML/CFT cases across regulatory authorities. It has been developed by the Federal Authority for Nuclear Regulation (FANR).
One of the primary aims of the system is to cut the amount of time it takes for authorities to act. “The smart platform allows
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