Dealing with AML Crime Originating from Other Countries

This article discusses Federal Decree by Law No 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations in United Arab Emirates. Here we will see Dealing with AML Crime Originating from Other Countries in detail.

The competent judicial authority shall, upon request of a judicial authority of another country bound by an enforceable agreement with the UAE or by virtue of the reciprocity principle, provide judicial assistance in relation to investigation, court trials or procedures relevant to the crime and issue orders as follows:

Identify, freeze, seize or confiscate any funds, proceeds and instrumentalities generated from the crime, used or intended to be used in the crime or take any other procedures applicable under the enforceable legislations in the UAE, including, to provide records retained by financial institutions, or designated nonfinancial businesses and professions or non-profit organisations, to inspect persons and buildings, to collect witnesses’ statements, gather evidence, use investigative methods including undercover operations, intercepting communications, collecting statements and electronic data and controlled delivery.

Extradite, handover and handback persons and items relevant to the crime in a prompt manner in accordance with the legislations applicable in the UAE.

The competent authorities shall exchange information related to the Crime promptly with the foreign authorities, respond to requests made by any competent entity in the foreign countries which are bound by an applicable convention with the UAE or in accordance with the reciprocity principle.

The competent authorities shall gather information from the relevant authorities in the UAE and take the necessary action to ensure the confidentiality of the information is used only for its intended purpose stated in the request for information and in accordance with applicable legislations in the UAE.

Relevant Authorities shall give priority to requests for international cooperation related to countering money laundering and combating terrorism financing and ensure prompt handling of those requests and take efficient measures to ensure the confidentiality of the information received.

In application of the present Decree-Law, the request for international cooperation shall not be rejected based on any of the following grounds:

a) That the crime involves tax and financial affairs

b) That the crime is political or related to politics.

c) That the confidentiality provisions apply to financial institutions and designated nonfinancial businesses and professions without prejudice to the legislations applicable in the UAE.

d) That the request is connected to a crime under investigation or judicial prosecution in the UAE unless the request will impede on the investigation or prosecution.

e) Any other cases mentioned in the Implementing Regulation hereof.

The rules, controls and procedures governing international cooperation are contained in the Implementing Regulation of this Decree-Law.

Any court injunction or court decision providing for the confiscation of funds, proceeds or instrumentalities relating to money-laundering, terrorist financing or financing of illegal organisations may be recognized if issued by a court or judicial authority of another State with which the State has entered into a ratified Convention.

Supervisory authorities, FIU, Law Enforcement Authorities, financial institutions, designated nonfinancial businesses and professions, their board members, employees and legally authorized representatives are exempted from criminal, civil or administrative responsibility in relation to their providing any requested information or violating any obligation under legislative, contractual and administrative directives aimed at securing confidentiality of information unless the disclosure is made in bad faith or with the intent of causing damages to others.