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UAE Enhances Anti-Money Laundering and Counter-Terrorism Financing Measures
The UAE has strengthened its commitment to combating financial crime by amending its anti-money laundering and counter-terrorism financing laws. These amendments support the country's compliance with international standards and have led to the formation of a National Committee and a Supreme Committee for oversight and strategy. Recent actions include the suspension of 32 gold refineries for violations and the imposition of significant fines by regulatory authorities, highlighting the UAE's intensified efforts to fight money laundering and terrorism financing. Notably, the UAE was removed from the Financial Action Task Force’s grey list earlier this year, signifying significant progress in its financial crime prevention measures.
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