Notifications

No new notifications

Accessibility settings

Text size

A-

A+

Reset

Theme color

Reset

Color blind mode
Night reading mode

Last updated on 4 March 2024

Total visitors 21385

Go to Open Data

Did you find this page helpful?

The UAEFIU mandate

According to Federal Decree-Law No. (20) of 2018 on combating money laundering and financing of terrorism and illegal organizations and its amendments and By-law, the Financial Intelligence Unit of the UAE shall have competence over the following:
1

Receive, study and analyse reports from Financial Institutions (FIs), Designated Non-financial Business and Professions (DNFBPs), and Virtual Asset Service Providers (VASPs) according to the models approved thereby, and save the same in its database.

2

Requesting FIs, DNFBPs VASPs and the Competent Authorities to provide it with any additional information or documents relating to the reports and information it has received and other information it deems necessary for the performance of its functions, on the date and the form specified by the UAEFIU.

3

Conduct operational and strategic analysis using the available and obtainable information and data.

4

Providing FIs, DNFPBs, and VASPs with the feedback to enhance the effectiveness of the implementation of procedures to confront money laundering, related predicate offences or terrorist financing or financing of illegal organizations and detect suspicious transactions.

5

Cooperating and coordinating with the Supervisory Authorities to ensure the compliance of FIs, DNFBPs and VASPs with the procedures for combating money laundering, related predicate offences or terrorist financing or financing of illegal organizations.

6

Disseminating the data relating to the reports, the outcomes of its analyses and any other relevant data to Law Enforcement Authorities, when there are sufficient grounds to suspect its connection to money laundering, related predicate offences or terrorist financing or financing of illegal organizations, to take required actions in that regard.

7

Providing judiciary authorities and Law Enforcement Authorities information related to money laundering, related predicate offences or terrorist financing or financing of illegal organizations, spontaneously or upon request.

8

Exchanging information with its counterparts in other countries, with respect to Suspicious Transactions Reports (STR) or any other information to which the UAEFIU has exclusive access or is the exclusive recipient, whether directly or indirectly, according to international agreements or conditional upon reciprocity. Such information shall be used only for the purposes of combatting money laundering, related predicate offences or terrorist financing or financing of illegal organizations and shall not be disclosed to third parties without the UAEFIU’s permission.

9

Establishing a database to record all available information, and to implement data privacy and data security procedures to protect this information, including measures for handling, archiving, disseminating and accessing the data, and ensuring that access to its premises, its database and its technology systems is restricted.

10

Providing courses and programs to train and develop the staff of the UAEFIU and any other authority, be it inside or outside the UAE.

11

Preparing studies, research and statistics related to money laundering, related predicate offences or terrorist financing or financing of illegal organizations, and following up on any studies, research or statistics conducted domestically or internationally in this regard.

12

Preparing annual reports about its activities that include specifically general analysis of STRs and other reports received as well as activities and trends of the Crime, and preparing a brief of this report for dissemination purposes.