Anti-Money Laundering: A Comparative and Critical Analysis by Waleed Alhosani

By Waleed Alhosani

This publication significantly analyses the function of the United Arab Emirates monetary Intelligence Unit (FIU) within the Suspicious actions reviews regime. the writer will pay specific recognition to its features and powers in facing Suspicious actions studies and proper necessities imposed upon the reporting entities. within the research, the writer additionally compares the United Arab Emirates FIU version to the uk FIU model.

In addition, the ebook investigates even if the present United Arab Emirates FIU version complies with the proper overseas suggestions constructed through the monetary motion job strength with regards to the institution of the unit, in addition to its powers and functions.

This booklet means that extra may be performed to enhance the present services and powers of the United Arab Emirates FIU in a global context. in addition, the writer means that the capabilities and powers of the United FIU version either conform to the overseas necessities and beneficially expand past their directives.

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Additional info for Anti-Money Laundering: A Comparative and Critical Analysis of the UK and UAE's Financial Intelligence Units

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This Report identifies to what degree a country’s legal system complies with the FATF standards. The laws, regulations and AML measures of a country are scrutinised in the MER, and how well a country is implementing the FATF standards in practice is also examined.  Shehu, ‘Promoting financial sector stability through an effective AML/CFT regime’ (2010) 13 (2) Journal of Money Laundering Control 139. 9 Ibid 142 and 143. org (accessed on 2nd November 2014). 2 Financial Intelligence Units in the UK and UAE to Date 21 has proved to be a useful tool in ensuring consistent compliance with the standards”11 and explains that: The ME process is not complete until the final report is published.

May 2013 Financial Regulation International 1. com/insights/articles/2013/june/18/deferred-prosecution-agreements-for-more-enforcement-action (accessed on 24th December 2014). 52 Ibid.  Instead, Part 1 of SOCPA 2005 clarified that SOCA has the function of criminal intelligence gathering, storing, processing, analysing and disseminating information relevant to combating serious organised crime.  Similarly, the CCA 2013 explicitly mentions that the NCA has the function of criminal intelligence gathering, storing, processing, analysing and disseminating information, which is relevant to combating organised and serious crime, Which necessarily means that the NCA now acts as the UK FIU.

43 The main reason for selecting this approach is that it is difficult, if not impossible, to employ the quantitative method, for example to formulate a survey or a questionnaire. This is because each relevant sector has a relationship with the UAE FIU that comes from a different perspective, so that one questionnaire could not ascertain the views of employees working at these various sectors. 46 41 Ranjit Kumar, Research Methodology (Third Edition, SAGE Publications Ltd. 2011), 104.  Creswell, Research Design (Fourth Edition, SAGE Publications Ltd.

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