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Crackdown on Dirty Cars

Abu Dhabi is cracking down on unattended dirty cars on the streets. The Abu Dhabi Municipality has issued a new warning that motorcyclists will be fined Dh3,000 and their vehicles will be confiscated if they are found to have left their cars in public places for too long. Municipal officials said that after close monitoring, […]

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UAE & China Join Forces to Fight Money Laundering

The UAE Financial Intelligence Unit (FIU) has signed a Memorandum of Understanding (MoU) with the China Anti-Money Laundering Monitoring and Analysis Centre (CAMLMAC) to facilitate international cooperation on the exchange of intelligence concerning anti-money laundering and combatting the financing of terrorism. The signing of this MoU is in line with the objectives of the UAE

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UAE Firms Must Disclose Ultimate Owners by Next Month or Be Subject to Fines

Safia Al-Safi, the director of the Anti-Money Laundering Department at the UAE Ministry of Economy, in an interview with CNBC Arabia, said fines would be levied on companies that do not disclose the identity of their real owners, effective of July 1st, which is to apply companies except for government-owned corporations or publicly traded entities.

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