Hvitvasking av penger eller Hawala i UAE, lover og straff

How are Hawala and Money Laundering defined under UAE Laws?

According to the UAE’s legal and regulatory framework, Hawala and Money Laundering are defined as follows:

Hawala: The UAE Central Bank defines Hawala as an informal money transfer system that operates outside of conventional banking channels. It involves the transfer of funds from one location to another through service providers known as “hawaladars” without any physical movement of currency.

Money Laundering: Money Laundering is a criminal offense under UAE Federal Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism. It is defined as the process of concealing or disguising the true nature, source, location, disposition, movement, or ownership of funds or assets derived from illegal activities.

Vanlige eksempler inkluderer: structuring/smurfing, shell companies, real estate transactions, trade-based laundering, casino operations, cryptocurrency transactions, bulk cash smuggling, and misusing Hawala networks.

The UAE takes a strong stance against these activities, and the legal consequences for individuals or entities involved in Hawala or Money Laundering can be severe. It is crucial to comply with the UAE’s anti-money laundering regulations and conduct financial transactions through legitimate and authorized channels.

When is Hawala Legal or Illegal in the UAE?

Hawala, the informal money transfer system, is not inherently illegal in the UAE. However, it is an unregulated and informal channel, which can potentially be exploited for illicit activities, including money laundering and financing of terrorism. The legality of Hawala transactions in the UAE depends on the source of funds and the intended purpose.

If Hawala is used to transfer funds derived from legal sources and for legitimate purposes, it may be considered legal. However, if it is utilized to transfer funds obtained through illegal means or for unlawful activities, such as money laundering, terrorism financing, or tax evasion, it becomes illegal under UAE laws. Authorities closely monitor Hawala networks to ensure compliance with anti-money laundering and counter-terrorism financing regulations.

It’s important to note that while Hawala itself is not illegal, the UAE has strict regulations in place to combat the misuse of informal money transfer systems for illicit purposes. Individuals and businesses are advised to exercise caution and conduct financial transactions through licensed and regulated channels to avoid potential legal consequences.

Types of Money Laundering cases in the UAE

The UAE has witnessed various types of money laundering cases involving individuals and entities engaged in illicit activities. Here are some common types of money laundering cases observed in the UAE:

1. Real Estate-Related Money Laundering: This involves the purchase and sale of properties using funds derived from illegal sources, such as drug trafficking, fraud, or corruption.
2. Trade-Based Money Laundering: This type of laundering involves the misrepresentation of the price, quantity, or quality of goods in import/export transactions to move illicit funds across borders.
3. Bulk Cash Smuggling: This involves the physical transportation of large amounts of cash across borders, often concealed in vehicles, luggage, or other means, to evade reporting requirements and disguise the source of funds.
4. Shell Company-based Money Laundering: In this type of case, individuals or organizations establish fake or shell companies to disguise the true ownership and source of funds, and provide a legitimate-appearing cover for illicit transactions.
5. Misuse of Informal Value Transfer Systems (IVTS) like Hawala: Certain cases involve the exploitation of informal money transfer systems like Hawala to move illicit funds globally, taking advantage of the lack of a traditional financial trail.
6. Cryptocurrency-based Money Laundering: With the increasing use of cryptocurrencies, some cases involve the use of digital assets to conceal the movement and origin of illegal funds, exploiting the anonymity and decentralized nature of these transactions.
7. Laundering through Casinos and Gaming Establishments: In some instances, casinos and gaming establishments have been used to exchange large amounts of cash for chips or other monetary instruments, effectively disguising the source of the funds.

It’s worth noting that money laundering schemes can be complex and evolve over time, often involving a combination of different methods and channels. Effective anti-money laundering measures, robust regulatory frameworks, and international cooperation are crucial in combating these criminal activities in the UAE.

What is the Anti Money Laundering Law in UAE?

The Anti-Money Laundering Law in the UAE is governed by Federal Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism. This comprehensive law defines and criminalizes money laundering activities, outlines strict measures to combat terrorism financing, and establishes a robust regulatory framework.

The key aspects of the Anti-Money Laundering Law in the UAE include:

1. Definition of Money Laundering: Clearly defines money laundering as concealing or disguising funds derived from illegal activities.
2. Rapporteringsforpliktelser: Requires financial institutions and businesses to implement AML/CFT measures, including customer due diligence, transaction monitoring, and reporting suspicious activities.
3. Straffer og sanksjoner: Imposes severe penalties, including fines and imprisonment, for non-compliance.
4. Kompetente autoriteter: Mandates the establishment of authorities like the Financial Intelligence Unit (FIU) to oversee AML/CFT efforts.
5. International Cooperation: Facilitates cooperation and information sharing with other countries in the fight against money laundering and terrorism financing.

What are the Maximum Penalties for Money Laundering Convictions in the UAE?

The UAE’s Anti-Money Laundering Law imposes severe penalties for individuals and entities convicted of money laundering offenses. The maximum penalties for money laundering convictions in the UAE are as follows:

1. Fengsling:
   • For individuals: Up to 10 years in prison.
   • For managers or representatives of legal entities: Up to 15 years in prison.
2. Bøter:
   • For individuals: A fine not exceeding AED 5 million (approximately $1.36 million).
   • For legal entities: A fine not exceeding AED 50 million (approximately $13.6 million).

In addition to these penalties, the convicted individuals or entities may also face:

• Confiscation of funds, properties, or instrumentalities related to the money laundering offense.
• Dissolution or temporary or permanent closure of the legal entity involved in the offense.
• Publication of the court’s judgment in two local daily newspapers at the expense of the convicted party.

It’s important to note that these penalties represent the maximum punishments prescribed by the law. The actual sentence may vary depending on the specific circumstances of the case, the severity of the offense, and other mitigating or aggravating factors.

The UAE takes a strict stance against money laundering activities, and these severe penalties reflect the country’s commitment to deterring and combating financial crimes within its jurisdiction.

Are there any Special Provisions for Money Laundering linked to Organized Crime or Terrorism Financing?

Yes, the UAE’s Anti-Money Laundering Law includes special provisions for money laundering offenses linked to organized crime or terrorism financing:

1. Harsher Penalties for Organized Crime: If a money laundering offense is committed within the framework of an organized criminal group, the maximum imprisonment penalty shall be increased by a specified proportion.
2. Criminalizing Terrorism Financing: The law criminalizes the financing of terrorism and terrorist organizations. Any person who willfully collects, transfers, or provides funds or property with the intention of using them for terrorist activities can face lengthy imprisonment and substantial fines.
3. Internasjonalt samarbeid: The law facilitates international cooperation and information sharing with other countries and jurisdictions in combating money laundering, organized crime, and terrorism financing. This includes provisions for extradition and mutual legal assistance.
4. Targeted Financial Sanctions: The UAE has implemented targeted financial sanctions against individuals and entities designated by the United Nations Security Council or other relevant international organizations as being involved in terrorism financing or associated with terrorist organizations.

These special provisions underscore the UAE’s commitment to combating the financing of terrorism and organized crime, which pose significant threats to national and global security. The severe penalties and enhanced international cooperation measures aim to disrupt and dismantle these illegal activities and their financial networks.

Key AML Compliance Requirements for Businesses in UAE

The UAE’s Anti-Money Laundering Law imposes several compliance requirements on businesses operating within the country. Here are the key AML compliance requirements for businesses in the UAE:

1. Registrering: Mandatory registration with goAML portal for FIs and DNFBPs.
2. AML Compliance Officer: Appoint a dedicated officer to oversee AML program.
3. AML Program: Establish comprehensive policies and procedures for KYC, transaction monitoring, risk management, and reporting.
4. Risikobasert tilnærming: Tailor AML program to business size, nature, and inherent risks.
5. Kundediliggjøring (CDD): Conduct thorough KYC checks, including identity verification and beneficial ownership identification.
6. Enhanced Due Diligence (EDD): Apply additional measures for higher-risk customers like PEPs.
7. Transaksjonsovervåking: Monitor transactions for suspicious activities.
8. Rapportering av mistenkelig aktivitet: Report suspicious transactions to Financial Intelligence Unit (FIU).
9. Registrering: Maintain customer and transaction records for at least 5 years.
10. Ansattes opplæring: Provide regular AML/CFT training to employees.
11. Uavhengig revisjon: Conduct regular audits of AML/CFT program.
12. Samarbeid med myndigheter: Cooperate with authorities and provide required information.

Failure to comply with these requirements can result in severe penalties, including fines, imprisonment, and potential revocation of licenses or business closure. Businesses operating in the UAE must prioritize AML compliance to mitigate risks and maintain the integrity of the financial system.

Hva er røde flagg i AML?

Røde flagg refererer til uvanlige indikatorer som signaliserer potensielt ulovlig aktivitet som krever videre etterforskning. Vanlige AML røde flagg er relatert til:

Mistenkelig kundeadferd

• Hemmelighold om identitet eller manglende vilje til å gi informasjon
• Motvilje mot å gi detaljer om virksomhetens art og formål
• Hyppige og uforklarlige endringer i identifiserende informasjon
• Mistenkelige forsøk på å unngå rapporteringskrav

Høyrisikotransaksjoner

• Betydelige kontantbetalinger uten tydelig opprinnelse til midler
• Transaksjoner med enheter i høyrisiko jurisdiksjoner
• Komplekse avtalestrukturer maskerer reell eierskap
• Unormal størrelse eller frekvens for kundeprofil

Uvanlige omstendigheter

• Transaksjoner som mangler rimelig forklaring/økonomisk begrunnelse
• Uoverensstemmelser med kundens vanlige aktiviteter
• Ukjent med detaljer om transaksjoner gjort på ens vegne

Røde flagg i UAEs kontekst

UAE ansikter spesifikke risiko for hvitvasking av penger fra høy kontantsirkulasjon, gullhandel, eiendomstransaksjoner osv. Noen viktige røde flagg inkluderer:

Kontanttransaksjoner

• Innskudd, utveksling eller uttak over AED 55,000 XNUMX
• Flere transaksjoner under terskelen for å unngå rapportering
• Kjøp av kontantinstrumenter som reisesjekker uten reiseplaner
• Mistenkt involvering i forfalskning i UAE

Handelsfinans

• Kunder som viser minimal bekymring for betalinger, provisjoner, handelsdokumenter osv.
• Falsk rapportering av varedetaljer og forsendelsesruter
• Betydelige avvik i import/eksport mengder eller verdier

eiendom

• Salg i kontanter, spesielt via bankoverføringer fra utenlandske banker
• Transaksjoner med juridiske enheter hvis eierskap ikke kan bekreftes
• Kjøpspriser som ikke stemmer overens med verdivurderingsrapporter
• Samtidige kjøp og salg mellom relaterte enheter

Gull/smykker

• Hyppige kontantkjøp av varer med høy verdi for antatt videresalg
• Motvilje mot å fremlegge bevis på opprinnelsen til midlene
• Kjøp/salg uten fortjenestemarginer til tross for forhandlerstatus

selskapet formasjon

• Person fra høyrisikoland som ønsker å raskt etablere lokalt selskap
• Forvirring eller motvilje til å diskutere detaljer om planlagte aktiviteter
• Forespørsler om å bidra til å skjule eierstrukturer

Handlinger som svar på røde flagg

Bedrifter bør iverksette rimelige tiltak når de oppdager potensielle AML-røde flagg:

Enhanced Due Diligence (EDD)

Innhent ytterligere informasjon om kunden, kilden til midler, aktivitetens art osv. Ytterligere ID-bevis kan kreves til tross for førstegangs aksept.

Gjennomgang av Compliance Officer

Selskapets AML compliance officer bør vurdere situasjonens rimelighet og bestemme passende handlinger.

Rapporter om mistenkelige transaksjoner (STR)

Hvis aktivitet virker mistenkelig til tross for EDD, send inn en STR til FIU innen 30 dager. STR-er er påkrevd uavhengig av transaksjonsverdi hvis hvitvasking av penger er bevisst eller rimelig mistenkt. Straff gjelder for manglende rapportering.

Risikobaserte handlinger

Tiltak som forbedret overvåking, begrensning av aktivitet eller å avslutte forhold kan vurderes avhengig av spesifikke tilfeller. Det er imidlertid lovlig forbudt å tipse emner angående innlevering av STR-er.

Viktigheten av kontinuerlig overvåking

Med nye hvitvaskings- og terrorfinansieringsteknikker er kontinuerlig transaksjonsovervåking og årvåkenhet avgjørende.

Trinn som:

• Gjennomgå nye tjenester/produkter for sårbarheter
• Oppdatering av kunderisikoklassifiseringer
• Periodisk evaluering av overvåkingssystemer for mistenkelig aktivitet
• Analysere transaksjoner mot kundeprofiler
• Sammenligning av aktiviteter med peer- eller bransjegrunnlag
• Automatisert overvåking av sanksjonslister og PEP-er

aktiver proaktiv identifikasjon av røde flagg før problemene formerer seg.

konklusjonen

Det er viktig å forstå indikatorer på potensiell ulovlig aktivitet AML-samsvar i UAE. Røde flagg relatert til uvanlig kundeadferd, mistenkelige transaksjonsmønstre, transaksjonsstørrelser som ikke stemmer overens med inntektsnivåer og andre tegn som er oppført her, bør berettige ytterligere undersøkelser.

Mens spesifikke saker bestemmer de riktige handlingene, kan det å avvise bekymringer ha alvorlige konsekvenser. Foruten økonomiske og omdømmemessige konsekvenser, pålegger UAEs strenge AML-forskrifter sivilt og strafferettslig ansvar for manglende overholdelse.

Derfor er det viktig for virksomheter å implementere tilstrekkelige kontroller og sikre at personalet er opplært til å gjenkjenne og reagere på riktig måte på Red Flag Indicators i AML.