(AML-CFT Law Articles 9.1, 15, 30; AML-CFT Decision Articles 16-18)

Under the AML/CFT legal and regulatory framework of the UAE, all FIs are obliged to promptly report to the Financial Intelligence Unit (FIU) suspicious transactions and any additional information required in relation to them, when there are suspicions, or reasonable grounds to suspect, that the proceeds are related to a crime, or to the attempt or intention to use funds or proceeds for the purpose of committing, concealing or benefitting from a crime. FIs are required to put in place and update indicators that can be used to identify possible suspicious transactions.

In order to fulfil these obligations, FIs should implement adequate internal policies, procedures and controls in relation to the identification and the immediate reporting of suspicious transactions. The following sub-sections provide additional guidance in this regard.