Companies must also take appropriate measures to prevent other illegal activities such as the financing of terrorism (CFT). This advisory pertains to the treatment of financial crime risks, following the global COVID-19 outbreak. It is consistent with the Financial Action Task Force (FATF) report (for the UAE) that was released in April 2020. UAE’s authorities recommended using fintech and appropriate regulatory technology (regtech) to help meet relevant KYC/AML requirements.
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