Anti-Money Laundering: A Comparative and Critical Analysis by Waleed Alhosani

By Waleed Alhosani

This e-book significantly analyses the function of the United Arab Emirates monetary Intelligence Unit (FIU) within the Suspicious actions stories regime. the writer will pay specific cognizance to its features and powers in facing Suspicious actions studies and correct specifications imposed upon the reporting entities. within the research, the writer additionally compares the United Arab Emirates FIU version to the uk FIU model.

In addition, the booklet investigates no matter if the present United Arab Emirates FIU version complies with the appropriate foreign suggestions constructed by way of the monetary motion job strength in terms of the institution of the unit, in addition to its powers and functions.

This booklet means that extra will be performed to enhance the present services and powers of the United Arab Emirates FIU in a world context. in addition, the writer means that the services and powers of the United FIU version either conform to the overseas requisites and beneficially expand past their directives.

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By Waleed Alhosani

This e-book significantly analyses the function of the United Arab Emirates monetary Intelligence Unit (FIU) within the Suspicious actions stories regime. the writer will pay specific cognizance to its features and powers in facing Suspicious actions studies and correct specifications imposed upon the reporting entities. within the research, the writer additionally compares the United Arab Emirates FIU version to the uk FIU model.

In addition, the booklet investigates no matter if the present United Arab Emirates FIU version complies with the appropriate foreign suggestions constructed by way of the monetary motion job strength in terms of the institution of the unit, in addition to its powers and functions.

This booklet means that extra will be performed to enhance the present services and powers of the United Arab Emirates FIU in a world context. in addition, the writer means that the services and powers of the United FIU version either conform to the overseas requisites and beneficially expand past their directives.

Show description

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Additional resources for Anti-Money Laundering: A Comparative and Critical Analysis of the UK and UAE's Financial Intelligence Units

Sample text

For these reasons, entities such as insurance companies, securities and real estate agencies are excluded. Nevertheless, the general obligations imposed on banks are almost the same as those imposed on other financial institutions. The scope of the study is therefore confined to the role and powers of the FIU in dealing with STRs/SARs on ML in the UAE and UK, the legal basis and requirements of the STRs/SARs regime in both countries and the relevant regulations imposed on banks and other financial institutions 1 Introduction 11 with a view to fulfilling STRs/SARs requirements as spelled out in UAE and UK AML laws.

This means that no sources available regarding: 1) statistics on sub80 Jayesh D’Souza (n 82). Robin Booth and others (n 120). 82 (N 114). 81 38 Anti-Money Laundering mitted STRs by the reporting entities annually, 2) the core and non-core functions of the UAE FIU in the STRs system and more importantly 3) the basis of submitting STRs to the UAE FIU. This is in contrast to the UK’s SAR’s regime, where a great number of sources are available, including annual reports and case law. There is no one particular model that is optimal for every time and place.

45 The interviewer/researcher has asked relevant questions to confirm a number of important facts.  Yin (n 37) 107. 46 For the major types of interview, see Alan Bryman, Social Research Methods (Fourth Edition, Oxford University Press 2012), 212–230. 42 14 Anti-Money Laundering Four sectors have been chosen for the empirical investigation, namely (1) the UAE FIU, (2) the banking sector, (3) the public prosecution office and (4) the police. The relevant period is between March and May 2012. The reason for selecting these sectors is that the UAE FIU is best placed for providing data and information about its responsibilities and annual statistics about STRs.

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