Overview Jurisdiction Al Reem Expansion Authorities Initiatives ADGM Academy Arbitration Centre Overview Business areas Setting up Operating in Public registers Legal framework Regulation Awareness Collaboration Ecosystem ADGM Sustainable Media News Events Spotlight Podcasts Publications Support Make an enquiry Whistleblowing FAQs
A platform that offers limitless opportunities and paves the way for a brighter future

Abu Dhabi boasts first-class infrastructure and unparalleled global connectivity, making it a premier international destination. Its exceptional qualities make it an ideal location to live, work, and conduct business.

Read about Abu Dhabi's lifestyle
Latest initiatives ADGM Announces Incentive Initiative for Existing Al Reem Island Businesses Transitioning to ADGM ADGM Marks Its Presence on Al Reem by Hosting its First Community Event on the Island
Providing an environment that empowers the future

A financial centre that provides transparency, efficiency, and integrity, through its progressive frameworks, future focused infrastructure, all within a familiar independent legal jurisdiction – ADGM is the perfect platform for success.

Find out how to set up in ADGM
Latest news 24 French Asset Management Firms With $1.6 Trillion AUM Convene for Second UAE – France Investor Meetup ADGM's Financial Regulator fines Sarwa Digital Wealth (Capital) Limited USD 122,500 for making an Offer of Securities in ADGM without Approved Prospectus
Preserve our economies and environment for future generations

ADGM, the centre for a transparent and thriving sustainable finance ecosystem.

More about our Sustainability vision
Highlights ADGM, the Region's Leading Climate Finance Hub, Announces its Role as Principal Partner at COP28 ADGM Implements its Sustainable Finance Regulatory Framework
Stay up-to-date with our wide range of available resources

Our community of business professionals, entrepreneurs, and investors can depend on ADGM to provide timely news and reliable insights.

Read our latest news articles
Upcoming events FSRA Supervision Outreach Session ADGM's 4th Annual FATCA and CRS Awareness Session LINK Networking Series
We are here to help

At ADGM, we offer various support options, including contact details, FAQs, enquiry forms, and a whistleblowing form.

View available support options
Some of our FAQ topics
  • Getting started
  • Foundations regime
  • Resolution for incorporation
  • Existing auditors
  • New auditors
  • ACCESSADGM
  • Announcement

    service

    ADGM Launches Inaugural Money Laundering and Terrorist Financing Risk Assessment Report

    ADGM RA 31/05/2023
    ADGM

    Abu Dhabi Global Market (ADGM), the international financial centre of the capital city of the United Arab Emirates, is pleased to announce the launch of its inaugural Money Laundering and Terrorist Financing (ML/TF) Risk Assessment of ADGM Legal Persons and Arrangements Report (LPA Report). This announcement reaffirms ADGM's commitment to combating financial crime and underscores its dedication to maintaining an effective Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) system within its jurisdiction.

    ADGM's comprehensive legal framework encompasses 16 distinct Legal Person and Arrangement (LPA) types. Recognising the significance of understanding the specific ML/TF risks associated with each LPA type, ADGM has conducted a rigorous assessment exercise, resulting in the development of a highly detailed risk assessment model.

    The in-house scientific model and methodology devised by ADGM incorporates best practices derived from the Financial Action Task Force (FATF) recommendations and benchmarking against other key international bodies and jurisdictions such as the European Commission, the United Kingdom, Luxembourg, and Ireland. This model employs a systematic approach that evaluates threats, inherent vulnerabilities, the probability of exploitation, and the effectiveness of mitigating measures for each LPA type.

    The ADGM LPA risk assessment findings are designed to supplement and support the UAE's national Legal Persons and Arrangements risk assessment (UAE LPAs). This collaborative effort strengthens the overall AML/CFT framework and ensures a granular understanding of the ML/TF risks associated with ADGM LPAs. Stakeholders, including Financial Institutions (FIs) and Designated Non-Financial Businesses and Professions (DNFBPs), can utilise these insights to enhance their risk assessments when engaging with ADGM entities.

    "We are steadfast in our commitment to combat financial crime and uphold the highest standards of integrity," stated H.E. Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development and ADGM. "The launch of this Money Laundering and Terrorist Financing (ML/TF) Risk Assessment of ADGM Legal Persons and Arrangements Report represents a significant stride forward in fortifying our AML/CFT framework and aligning with the UAE's national risk assessment endeavours. This assessment not only enhances our granular understanding and detailed knowledge of risks specific to each ADGM Legal Person and Arrangement type but also fosters stronger collaboration with regulated entities, regulatory bodies and law enforcement agencies."

    The insights gained from this assessment will empower ADGM, especially registry staff, to conduct more effective risk assessments of registration applications and to monitor the compliance of existing firms. This will also safeguard the continued integrity of ADGM's financial ecosystem through enhanced policies, procedures, and controls to manage ML/TF within its jurisdiction. Furthermore, this assessment will be reviewed and updated periodically with the aim of using the findings as a basis to strengthen knowledge and insights on ML/TF risks and ADGM LPA vulnerabilities.

    ADGM's commitment to addressing ML and TF risks aligns with its role as a responsible International Financial Centre and reinforces its dedication to align with international standards and the international financial community.

    A detailed walkthrough of the LPA Report, including the risk assessment methodology and findings, as well as a panel discussion featuring leading experts from UAE government and industry is scheduled for Thursday 8 June at ADGM and entitled, ‘Understanding the Abuse and Risks of Legal Persons and Arrangements’. Registration to attend can be made here.

    To view the LPA Report, please click here.