With reference to Clause (3) of Article 44 of Cabinet Decision No. 10 of 2019, as amended, regarding the Executive Regulations of Federal Decree-Law No. 20 of 2018 on Combating Money Laundering Crimes, Financing of Terrorism and Financing of Illegal Organizations, which stipulates the following:
“Establish the necessary procedures and controls to verify the compliance of establishments subject to its supervision with the provisions of the Decree-Law, this Decision and any other legislation related to combating crime in the State, and requesting information related to the implementation of this commitment”.
Please note that a new feature entitled “Real Estate Activity Report” (REAR) has been added to the goAML platform as the unified platform dedicated to reporting any Suspicious Transaction Reports (SAR-STR), High Risk State Reports (HRC - HRCA) or Match Reports on entities or individuals related to local terrorist lists or the Security Council Sanctions List (FFR-PNMR).
This new report is used on the goAML platform if the law firm is working on behalf of a client on any transaction involving the purchase or sale of f...