The FATF is the key global body that facilitates the growth of Anti-Money Laundering regulations. It released some important standards a decade ago, namely:

  1. Specifying a list of crimes that must underpin the money laundering offence;
  2. The expansion of the customer due diligence process for financial institutions;
  3. Enhanced measures for higher risk customers and transactions, including correspondent banking and politically exposed persons;
  4. The extension of anti-money laundering measures to designated non-financial businesses and professions (casinos; real estate agents; dealers of precious metals/stones; accountants; lawyers, notaries and independent legal professions; trust and company service providers);
  5. The inclusion of key institutional measures, notably regarding international co-operation;
  6. The improvement of transparency requirements through adequate and timely information on the beneficial ownership of legal persons such as companies, or arrangements such as trusts;
  7. The extension of many anti-money laundering requirements to cover terrorist financing; and the prohibition of shell banks.
  8. Write a short and evaluative note on whether these are important and whether the UAE laws are in compliance with these standards.


  1. Your submission must be thorough; meaning, the submission reflects your understanding of the concept of comparative legal study and anti-money laundering initiatives – to be critically analyzed.
  2. Word limit is up to a minimum of 4000 words. However, the word limit is excluding the references, bibliography and title/cover pages.
  3. Use the research, referencing and writing conventions on research methodology (OSCOLA).
  4. The submission should have an introduction, main body and conclusion. Have a suitable title and sub-titles (if you feel necessary). All the aspects posed must be addressed in the essay, not as separate answers, but as a comprehensive whole.
  5. Include a cover-sheet while submitting the assignment.
  6. Ensure that your essay achieves the Course Learning Outcomes included in the table below.

Additional sources: You are required to use additional & suitable sources, cases and examples to support the arguments or reasoning that you adduce.

CLO # CLO Description
CLO 1 Outline the concept of money laundering


CLO 2 Evaluate and assess national, regional and international money laundering regimes


CLO 3 Classify the differences between the UAE anti money laundering regime and the UK and US anti money laundering regime


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