The United Arab Emirates (UAE) has become the first country in the Gulf to launch a new anti-money laundering platform called 'goAML' (Anti-Money Laundering).
a. Qatar
b. United Arab Emirates (UAE)
c. Saudi Arabia
d. Jordan
- It is a one-stop solution, launched by UAE to crack down on organized financial crimes.
About goAML:
- It is the new anti-money laundering platform launched by UAE's Financial Intelligence Unit (FIU) and is developed by the United Nations Office on Drugs and Crime (UNODC) to curb organized crimes.
- It is a fully integrated software solution developed for use by UAE's FIU.
- It is being considered as one of the UNODC's strategic responses to financial crime, such as money laundering and terrorist financing.
- It can be used for data collection, document management and analysis and will be used by financial institutions (like banks, finance companies) and law enforcement agencies such as police and designated non-financial businesses professions (lawyers, accountants).
- goAML will facilitate the receipt, analysis and dissemination of suspicious transactions and activity reports.
One must know:
- As per the officials of UAE's Central Bank (in Abu Dhabi) 'goAML' has been open for registration since May and all financial entities and Designated Non-Financial Businesses or Professions have to register on this new reporting platform system by 27th June 2019.
- This new system ensures that the UAE financial system remains effective in the fight against money laundering and terrorist financing.
Question:
Q. Which country has become the first country in the Gulf to launch a new anti-money laundering platform called 'goAML' (Anti-Money Laundering)?a. Qatar
b. United Arab Emirates (UAE)
c. Saudi Arabia
d. Jordan
