Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 20 SEPTEMBER 2024

Tough Anti-Money Laundering Frameworks Require Public-Private Alliances

Alvarez & Marsal
Explore more from Alvarez & Marsal

In the fast-paced financial world, the battle against financial crime gets more urgent than ever. With criminals becoming increasingly sophisticated and new regulations emerging...

Saudi ArabiaGovernment, Public Sector
Robin Roy
Robin Roy
Mohamed Kamer
Mohamed Kamer

Strictest regulatory framework in tandem with private sector partnerships are the cure.

In the fast-paced financial world, the battle against financial crime gets more urgent than ever. With criminals becoming increasingly sophisticated and new regulations emerging, it's clear cutting-edge technology and robust public-private collaboration are crucial.

The UAE's recent Federal Decree-Law on Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) represents a significant step. But organizations must leverage technology and public-private partnerships (PPPs) to truly make a difference.

Are the new UAE regulations a game changer?

On August 11, 2024, the UAE introduced a transformative decree law aimed at strengthening its AML and CFT framework. The changes aim to boost coordination among entities fighting financial crimes. The decree emphasizes collaboration between the committees and relevant stakeholders, fostering support for the

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

Distribution From Estate In Saudi Arabia: A Legal Guide For Investors And Heirs

Distribution from estate in Saudi Arabia follows three mandatory stages under the Personal Status Law (Royal Decree M/73, March 2022): debts and funeral costs are settled first, then a bequest (wasiyya) of up to one-third of the net estate may be honoured, and finally the prescribed shares, known as faraid,distribute the balance among rightful heirs. No inheritance tax applies to any distribution in the Kingdom.
Saudi ArabiaGovernment, Public Sector
Batic Law Firm
Batic Law Firm
Article

Investment Incentives In Saudi Arabia: Benefits, Eligibility, And Key Programs

Most investors enter the Kingdom expecting a red carpet of tax breaks, only to realize that the real value isn’t a single blanket incentive, it’s a complex puzzle. While investment incentives in Saudi Arabia are world-class, they are not universal. The gap between a standard MISA license and a high-yield strategic entry lies in knowing which benefits are automatic and which require rigorous, program-specific applications.
Saudi ArabiaGovernment, Public Sector
Batic Law Firm
Batic Law Firm
Article

The Kingdom Of Saudi Arabia Approves New Government Tenders And Procurement Law

Saudi Arabia's Council of Ministers has approved a new Government Tenders and Procurement Law that significantly modernizes the Kingdom's public procurement framework. The law introduces substantial changes including increased delegation limits, reduced review periods, and enhanced flexibility in contract management. How will these reforms reshape government contracting and private sector participation in one of the Middle East's largest economies?
Saudi ArabiaGovernment, Public Sector
Greenberg Traurig
Greenberg Traurig
Article

Saudi’s Renewed Fight Against The Houthis: Prospects For Ceasefire Or Peace

Saudi Arabia's renewed conflict with Yemen's Houthis has disrupted Red Sea shipping, damaged oil infrastructure, and threatened the Kingdom's economic diversification plans. While a pragmatic ceasefire appears achievable in the coming months, underlying tensions and the Houthis' resilient position suggest that risks to regional stability, energy markets, and Saudi Arabia's Vision 2030 ambitions will persist regardless of any near-term pause in hostilities.
GlobalGovernment, Public Sector
Steptoe LLP
Steptoe LLP