If a Reporting Entity (RE) suspects a financial crime, such as money laundering or financing of terrorism, UAE law requires the entity to file a Suspicious Transaction Report (STR) to the UAE FIU.
How to file an STR
- RE identifies suspicious transactions or activities among its customers, counterparties or other stakeholders.
- RE raises an STR through the goAML system, which includes all relevant information about the suspected crime, including:
Reasons for the report.
Possible red flags related to money laundering or financing of terrorism.
- The FIU reviews and analyses the STR. They may contact REs for more information and clarification.
- When required, the FIU shares intelligence with relevant local stakeholders for their information and action.
- The FIU also connects with counterpart FIUs internationally to source further intelligence.