Background

The Financial Action Task Force recommends that countries should have mechanisms that assess the Money Laundering and Terrorist Financing (“ML/TF”) risks associated with legal persons and arrangements.

The UAE has in place a comprehensive National Risk Assessment (“NRA”) as well as the UAE Legal Persons and Arrangements risk assessment.

Additionally, the UAE’s Financial Intelligence Unit (“FIU”) recently published the second edition of its comprehensive report on the abuse of legal persons and arrangements.

To supplement this work, the ADGM Registration Authority has identified and assessed at a granular level, the specific ML/TF risks associated with ADGM legal persons and arrangements. The results are set out in a special report which will be published shortly.

This event will provide an overview of ADGM’s LPA risk assessment methodology and results as well as an interactive panel discussion on the abuse and risks of legal persons and arrangements featuring leading experts from government and industry.

Who should attend this event?

This event will be of interest to all UAE financial institutions and Designated Non-Financial Businesses & Professions (“DNFBPs”) as well as UAE Federal and Emirate government stakeholders, including company Registrars and anti-money laundering regulators.