United Arab Emirates: Money Laundering

Under UAE law, investment schemes that promise fixed or unusually high returns may constitute criminal fraud and money laundering if no genuine investment activity exists behind them. This analysis examines how Federal Decree-Law No. 31 of 2021 and Federal Decree-Law No. 20 of 2018 distinguish between legitimate investment failures and sham arrangements, exploring the criminal and civil consequences for perpetrators and the recovery options available to victims.

For many SMEs in the UAE, compliance is still treated as a set of disconnected obligations. AMLs is associated with finance, and UBO disclosures are often updated only when requested by authorities or banks.

The advent and rise of cryptocurrency have been a disruptor to the traditional currency system. Even outside the virtual aspect of the currency...