UAE launches UN-developed anti-money laundering platform

The UAE has become the first country in the Gulf to launch a new reporting platform developed by the United Nations Office on Drugs and Crime to curb organised crimes.

The UAE’s Financial Intelligence Unit launched the new anti-money laundering platform ‘goAML’ , which has been open for registration since May. This was announced by officials of UAE Central Bank in Abu Dhabi.

All financial entities and Designated Non-Financial Businesses or Professions have to register on this system by Thursday. More than 900 entities including, banks, insurance companies and money exchange centres, are required to register on the platform and 50 percent of them have already registered. The platform will help the FIU prevent money laundering, financing of terrorism and other illicit financial activities.

About UAE: 
Capital: Abu Dhabi 
Currency: UAE Dirham
President of UAE: Khalifa bin Zayed Al Nahyan