Guidance For Licensed Financial Institutions On The Risks Relating To Payments

Guidance For Licensed Financial Institutions On The Risks Relating To Payments

Guidance For Licensed Financial Institutions On The Risks Relating To Payments

The Central Bank of UAE has issued guidance for licensed financial institutions on the risks relating to payments.

It highlights ML/FT risks related to the payment sector and also ML/FT risks for LFIs providing services to payment sector participants.

It discusses the ways and means of mitigating these ML/FT risks and puts an emphasis on transaction monitoring and suspicious transaction reporting.

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