tl;dr
The FSRA has published an update on terrorist and proliferation financing red flags guidance, with specific indicators applicable to virtual assets and VASPs, reflecting the UAE's commitment to preventing financing terrorism and non-proliferation. Relevant persons, financial institutions, VASPs, and...
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The Financial Services Regulatory Authority (FSRA) has published an update on terrorist and proliferation financing red flags guidance, with specific indicators applicable to virtual assets and VASPs.
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Relevant persons, financial institutions, VASPs, and DNFBPs must refer to the updated guidance and incorporate the most up-to-date red flags indicators in their screening systems, reflecting the UAE's commitment to preventing financing terrorism and non-proliferation.
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FSRA will take appropriate action against those who contravene regulations and rules, and the Federal AML/CFT laws. These amendments and guidance come after FinCEN proposed new regulations to enhance transparency in convertible virtual currency mixing and combat terrorist financing.
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