CBUAE updates its AML/CFT/CPF guidance for licensed FIs, strengthening risk-based controls, due diligence, and monitoring to boost compliance and combat FC more effectively

The guidance introduces enhanced expectations across key areas including customer due diligence, correspondent banking, trade-based money laundering, and proliferation financing risk management, supported by more structured training and governance frameworks. Reforms require institutions to adopt continuous, enterprise-wide risk assessment and more effective transaction monitoring, reinforcing the UAE’s broader strategy to improve AML/CFT effectiveness and align with FATF standards…