UAE ups anti-money laundering scrutiny with new real estate regulations

Mark Battersby
clock • 3 min read

Three UAE government departments are to work together to enforce new reporting requirements on payments for real estate transactions including using virtual assets.  In a statement issued by the WAM news agency, the Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU) said that payments for real estate transactions in the UAE through virtual assets, sale of virtual assets, or cash amounts above AED55,000 will now be subjected to additional reporting to authorities. "The UAE is one of the first countries to implement...

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