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goAML: UAE 1st Gulf country to launch new anti-money laundering platform

Date: 25 June 2019 Tags: International Organizations

United Arab Emirates (UAE) become the first country in the Gulf to launch goAML, a new anti-money laundering platform.  goAML has been customised to the requirements of the UAE’s Anti-Money Laundering and Counter Terrorist Financing framework.

About goAML

  • It has been developed by United Nations Office on Drugs and Crime to curb organised crimes (UNODC) for use by the UAE Central Bank’s Financial Intelligence Unit (FIU).
  • It is also available to Financial Intelligence Units (FIUs) of Member States to support their work in countering money laundering and terrorist financing.
  • It facilitates receipt, analysis, and dissemination of illicit transactions and activity to law enforcement authorities in the UAE.
  • UAE’s reporting entities including financial institutions such as banks, finance companies and exchange houses are required to register on this platform.
  • It will be also used by law enforcement agencies, and designated non-financial professions such as accountants and lawyers.