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𝗨𝗔𝗘 𝗦𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝗲𝗻𝘀 𝗔𝗻𝘁𝗶-𝗠𝗼𝗻𝗲𝘆 𝗟𝗮𝘂𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝗘𝗳𝗳𝗼𝗿𝘁𝘀 The UAE government just approved a new national anti-money laundering strategy to crack down on financial crime through 2027. As a major global business hub, the UAE understands it must continue strengthening safeguards to maintain trust. Their risk-based approach shows they're serious about fostering long-term economic prosperity through vigilance. 𝗞𝗲𝘆 𝗽𝗼𝗶𝗻𝘁𝘀: - Comprehensive sector risk reviews to prioritize oversight - 11 goals like optimizing resources and international cooperation - A focus on emerging threats like cryptocurrency - Technology-enabled supervision balanced with proportional controls While increased due diligence is expected, most daily operations shouldn't change drastically. Outsourcing compliance assists efficiency too. The penalties for non-compliance are there as an incentive, but addressing issues proactively receives positive consideration. Overall, it's a smartly balanced initiative. My take? Responsible businesses view compliance not as a burden, but good governance that protects reputation while mitigating real threats. #𝗨𝗔𝗘 #𝗔𝗠𝗟 #𝗔𝗻𝘁𝗶𝗠𝗼𝗻𝗲𝘆𝗟𝗮𝘂𝗻𝗱𝗲𝗿𝗶𝗻𝗴 #𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 #𝗙𝗶𝗻𝗮𝗻𝗰𝗲 #𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 #𝗘𝗰𝗼𝗻𝗼𝗺𝘆 #𝗛𝗼𝗿𝗶𝘇𝗼𝗻𝗕𝗶𝘇𝗖𝗼

🇦🇪 The UAE Releases Risk Assessment on Proliferation Financing: This is How & Why It Matters for the Crypto Market in Dubai The UAE has just dropped its National Risk Assessment on Proliferation Financing (PF), approved by the National Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations Committee (NAMLCFTC).🎯 Why this matters for Crypto in Dubai: 🌐 Leading the Charge: The UAE continues to set global benchmarks, strengthening its compliance with FATF standards (Rec.1 & Immediate Outcome 11). This isn’t just about preventing the financing of WMDs— it’s about securing the future of finance. 💡 What It Means for Financial Institutions, DNFBPs & VASPs: • Risk Awareness: New clarity on proliferation financing vulnerabilities. • Stronger Compliance: Crypto exchanges (VASPs) must integrate these risks into their operations. • Heightened Controls: It’s time to up your AML & CFT game. 📊 How Does This Impact Crypto in Dubai? 1️⃣ Tighter Regulations: More scrutiny on crypto exchanges means enhanced monitoring. 2️⃣ Elevated AML/KYC Standards: Businesses need to tighten KYC and due diligence protocols. 3️⃣ Operational Overhaul: VASPs must invest in next-level compliance tech. 4️⃣ Global Hub Status: By leading in compliance, Dubai secures its place as a top, regulated crypto hub, bringing in institutional investors. 📈 Short-term cost, Long-term gain: Compliance efforts may spike, but the payoff? Trust, growth, and a future-proofed financial ecosystem. This is a HUGE leap forward in positioning Dubai as the go-to destination for secure, regulated crypto ventures. 🚨With the recent National Risk Assessment on Proliferation Financing, it’s more crucial than ever to ensure your firm is compliant and prepared. ✅Need Expert Guidance on UAE’s New Proliferation Financing Regulations? Cryptos Consultancy is here to assist you navigate the complexities of the evolving virtual assets regulatory compliance landscape. 👉 Access the UAE Proliferation Financing National Risk Assessment here: https://lnkd.in/gtEUZTJ9 #CryptoCompliance #DubaiInnovation #ProliferationFinancing #AML #CFT #Blockchain #VASPs #UAELeadership

The Fifth Abu Dhabi Justice Partners Forum delves into virtual currency regulations, targeting money laundering and terrorist financing. Discussions cover the risks associated with virtual currencies, regulatory measures, legal obligations, and the importance of identifying suspicious transactions while upholding client privacy and ethical reporting standards. #AbuDhabi #Justice #VirtualCurrency #MoneyLaundering #TerroristFinancing #crypto #cryptocurrency #gcc #menaregion https://lnkd.in/gkeniSq6

We’re excited to announce our participation in the Countering Proliferation Financing Summit, taking place this week in Dubai, hosted by the UAE’s Executive Office for Control & Non-Proliferation (EOCN). This summit convenes global experts and thought leaders to tackle pressing issues in combating proliferation financing (PF), sanctions evasion, and emerging risks in the financial sector. Key topics include FATF standards, effective detection of red flags, and addressing new challenges such as cryptocurrency vulnerabilities. At Tradekins, we are committed to fostering compliance, innovation, and collaboration. We look forward to engaging with leaders in the field and contributing to the dialogue on creating a safer, more resilient financial landscape. Stay tuned for updates! #Proliferation #Financing #CounterProliferation #Security #FATF

VALOORES: Leading the Fight Against Financial Crime with Cutting-Edge AML and Anti-Cryptocurrency Laundering Solutions At the "Annual Forum on Combating Money Laundering and the Financing of Terrorism," VALOORES showcases its advanced solutions for Anti-Money Laundering (AML) and Anti-Cryptocurrency Laundering. Our technologies empower central banks, financial institutions, and regulators to meet the evolving challenges of global financial crime, track illicit activities, and safeguard the Financial system's integrity. Through our partnership with the Union of Arab Banks (UAB), we're committed to bringing the latest AML and Anti-Cryptocurrency Laundering technologies to the region. Our solutions enable effective monitoring of FATF/CAMS assets, ensuring compliance with Worldwide Regulations. VALOORES stands out as a pioneer in the fight against cryptocurrency laundering. Our advanced, FATF-certified technologies provide comprehensive protection against the illicit use of cryptocurrencies. Join us at the Phoenicia Hotel in Beirut to discover how VALOORES sets the standard for AML and Anti-Cryptocurrency Laundering. #VALOORES #UAB #UnionofArabBanks #AML #AntiCryptocurrencyLaundering.#AntiMoneyLaundering #FinancialServices #FATF #ACAMS

UAE Central Bank Approves New Stablecoin Regulation 🇦🇪 The Central Bank of UAE has implemented comprehensive regulations for issuers, governing virtual assets and stablecoins. This regulation allows businesses and vendors in the UAE to accept cryptocurrency if they are dirham-backed stablecoins. Key Points: - Issuers must obtain a license from the UAE Central Bank, ensuring only entities meeting financial requirements can issue stablecoins. - Compliance with AML/CFT regulations and robust KYC procedures through due diligence on transactions is mandatory to mitigate illicit activities. - Mandatory regular third-party audits and inspections to ensure security and integrity. - Limitation is placed on Foreign Payment tokens as a means of payment, allowing only the purchase of specific virtual assets such as non-fungible tokens (NFT) This amendment aims to foster a secure and an innovative financial regulatory framework in the UAE, advancing the digital economy of the country. #Stablecoins #Fintech #centralbank #AMLCFT #CryptoRegulation #Compliance #DigitalFinance #UAE #VirtualAssets #ThemisTheFirm

Excited and honored to be presenting at the Asia Pacific Group on Money Laundering (APG) Conference! Hosted by the Executive Office of Anti-Money Laundering and Counter Terrorism Financing in Abu Dhabi This platform brings together global leaders and experts to address one of the most critical challenges of our time – combating money laundering and enhancing financial integrity. I will be sharing insights on combating AML in the virtual assets industry and how it connects with evolving trends in anti-money laundering (AML) strategies, regulatory frameworks, and the fight against illicit financial activities. Collaboration across borders is essential to ensure a secure financial ecosystem, and I look forward to contributing to these impactful discussions. #AML #Compliance #FinancialIntegrity #APGConference #MoneyLaundering #AsiaPacificGroup #RiskManagement #InternationalCooperation #bitcoin #crypto #blockchain #AML #fatf

Worldcoin under scrutiny in Singapore! Could money laundering and terrorism financing be involved? 🔗 Read the full story now.⬇https://shorturl.at/BuJOt #BlockTour #Crypto #Worldcoin

💸 In a significant uncovering of #financial #crime, Operation Destabilise led by the #UK’s National Crime Agency (NCA) has exposed a multibillion-dollar #Cryptocurrency #money #laundering operation spanning #London, #Moscow, and #Dubai. ❗ This sophisticated scheme involved #Russian #spies and European drug traffickers leveraging cryptocurrency to evade international sanctions, highlighting a concerning trend in the intersection of organized crime and state-sponsored activities. https://lnkd.in/e4Tqx4Xz

Will Kenya move to a medium Risk? Financial Crime FATF Plenary Outcomes Feb 2024 Despite the progress made by Kenya in implementing recommended actions as of September 2022, there remains a crucial need for substantial improvements in strengthening preventive measures, establishing a Regulatory Authority, and enhancing financial intelligence. According to a FATF report, Kenya is currently at risk of cross-border terrorism financing, and the introduction of cryptocurrency adds an additional layer of heightened risk, categorizing the country as a persistently high-risk jurisdiction. It is imperative for Kenya to address these challenges proactively to fortify its financial ecosystem and mitigate potential threats. #Kenya #FinancialIntegrity #Regulation #RiskMitigation