The U.A.E. criminal law
Past version: effective from 21/10/2015 - 14/04/2019
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14. Under section 7(6) of the Financial Services and Markets Regulations 2015 (the "FSMR"), the Regulator has jurisdiction for the regulation of AML in the ADGM. The AML Rulebook sets out the requirements imposed by the Regulator under section 7(6) of the FSMR. The U.A.E. criminal law applies in the ADGM and, therefore, Persons in the ADGM must be aware of their obligations in respect of the criminal law as well as these Rules. Relevant U.A.E. criminal laws include Federal Law No. 4 of 2002 regarding the Criminalisation of Money Laundering, Federal Law No. 1 of 2004 regarding Combating Terrorism Offences, Federal Law No. 7 of 2014, and the Penal Code of the United Arab Emirates. The Rules in the AML Rulebook should not be relied upon to interpret or determine the application of the criminal laws of the U.A.E.
15. Under Article 3 of Federal Law No. 4 of 2002, a Relevant Person may be criminally liable for the offence of money laundering if such an activity is intentionally committed in its name or for its account. Relevant Persons are also reminded that:
a. the failure to report suspicions of money laundering;
b. "tipping off"; and
c. assisting in the commission of money laundering,
may each constitute a criminal offence that is punishable under the laws of the U.A.E.