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