By Waleed Alhosani

ISBN-10: 1137594543

ISBN-13: 9781137594549

ISBN-10: 1137594551

ISBN-13: 9781137594556

This booklet severely analyses the position of the United Arab Emirates monetary Intelligence Unit (FIU) within the Suspicious actions reviews regime. the writer can pay specific recognition to its services and powers in facing Suspicious actions studies and proper standards imposed upon the reporting entities. within the research, the writer additionally compares the United Arab Emirates FIU version to the uk FIU model.

In addition, the e-book investigates even if the present United Arab Emirates FIU version complies with the correct foreign ideas built through the monetary motion activity strength with regards to the institution of the unit, in addition to its powers and functions.

This publication means that extra should be performed to enhance the present capabilities and powers of the United Arab Emirates FIU in a global context. in addition, the writer means that the capabilities and powers of the United FIU version either agree to the overseas requisites and beneficially expand past their directives.

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Additional info for Anti-Money Laundering: A Comparative and Critical Analysis of the UK and UAE's Financial Intelligence Units

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30 The functions of the UAE FIU are not further detailed in any articles or books, but a number of textbooks provide a general explanation of the provisions of the AML laws and regulations. Lovett and Barwick31 provide a good account of the provisions in terms of the definition of ML and the primary offences contained in the Act. 32 Lovett and Barwick further explain that the UAE Central Bank has the power to issue freezing orders over suspected funds for up to seven days.  Ghattas also states how the UAE FIU has been established as a reporting entity for the financial institutions in relation to submitting STRs, and also shares information about STRs with UAE LEAs and foreign FIUs.

Secondly, it is difficult to analyse all regulations and obligations imposed on all reporting entities since this will widen the scope of the research which could result in our losing the main theme and objectives. For these reasons, entities such as insurance companies, securities and real estate agencies are excluded. Nevertheless, the general obligations imposed on banks are almost the same as those imposed on other financial institutions. The scope of the study is therefore confined to the role and powers of the FIU in dealing with STRs/SARs on ML in the UAE and UK, the legal basis and requirements of the STRs/SARs regime in both countries and the relevant regulations imposed on banks and other financial institutions 1 Introduction 11 with a view to fulfilling STRs/SARs requirements as spelled out in UAE and UK AML laws.

2014), 185.  Kritzer (eds), The Oxford Handbook of Empirical Legal Research (Oxford University Press 2010), 926 at 936. 44 Ranjit Kumar (41) 128. See also Lisa Webley (n 43) 937. 45 The interviewer/researcher has asked relevant questions to confirm a number of important facts.  Yin (n 37) 107. 46 For the major types of interview, see Alan Bryman, Social Research Methods (Fourth Edition, Oxford University Press 2012), 212–230. 42 14 Anti-Money Laundering Four sectors have been chosen for the empirical investigation, namely (1) the UAE FIU, (2) the banking sector, (3) the public prosecution office and (4) the police.

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Anti-Money Laundering: A Comparative and Critical Analysis of the UK and UAE's Financial Intelligence Units by Waleed Alhosani


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