AML
The United Arab Emirates has strengthened its anti-money laundering measures in the real estate, precious metals, and cryptocurrency sectors in preparation for an upcoming Financial Action Task Force inspection. Authorities have imposed fines totaling AED 130 million on designated non-financial businesses and professions since 2022. New customer due diligence requirements aim to prevent compliance issues in related services.
Iniulat ng AI
The European Central Bank's Supervisory Board Chair has cautioned that some cryptocurrency companies might opt for EU nations with less stringent anti-money laundering rules. Claudia Buch emphasized the need for collaboration with the EU's new AML Authority to address these concerns.