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UAE laws clamp down on money laundering, terrorism financing

The Emirates recently sanctioned some financial institutions in the country.
Central bank

The Central Bank of the United Arab Emirates announced today new measures to combat money laundering and financing of terrorism. 

The bank released a statement on procedures that licensed financial institutions must follow with regard to “politically exposed persons.” Such individuals are at higher risk of conducting money laundering, terrorism and financing and other illicit finances, per the Central Bank. 

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