DFSA | THE INDEPENDENT REGULATOR OF FINANCIAL SERVICES

STANDARD-SETTERS / INTERNATIONAL ORGANISTAIONS FOLLOWED

The Financial Action Task Force (FATF)

The Financial Action Task Force (FATF) is an inter-governmental body, which promotes effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing (ML/TF) and other related threats to the integrity of the international financial system. The FATF has developed a series of Recommendations that are recognised as the international standard for combating of money laundering and the financing of terrorism and proliferation of weapons of mass destruction. The FATF monitors the progress of its members in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally. For more information, please refer to the FATF Website

The FATF also identifies jurisdictions that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system. The identified jurisdictions are set out in two FATF public documents that are issued three times a year: 

  • FATF Public Statement (call for action); and 
  • Improving Global AML/CFT Compliance: On-going Process (other monitored jurisdictions). 

Click here to view the FATF public statements and click here to view the latest DFSA announcements. Previous DFSA announcements can be found here.

The UAE is a member of the Gulf Cooperation Council (GCC).  As a full Member of the FATF, the GCC is committed to implementing the anti-money laundering (AML) and counter-terrorist financing (CFT) measures agreed to by the FATF Members - in particular, the FATF Recommendations. The UAE is also a member of MENAFATF. The FATF-style regional body for countries in the MENA region and as such the UAE seeks to identify region-specific issues concerning money laundering and terrorist financing, as well as to share experiences.  

FATF Guidance 

The FATF has developed guidance and best practices to assist jurisdictions in their implementation of the FATF Recommendations. The DFSA encourages all Relevant Persons to regularly check the FATF website and ensure that they consider all issued guidance, as a matter of good practice. Click here to view the FATF Guidance.

SEO Letters

SEO

SEO Letters

Thematic Reviews and DFSA Reports

2018 AML Report

The DFSA’s Financial Crime Prevention Programme

DNFBP Sectoral Review

Financial Crime Review of Accounting, Audit and Insolvency Firms

2018 AML Report

2015 DFSA Annual Anti-Money Laundering Return Report

2018 AML Report

Trade Finance Report 2016

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