Anti-Money Laundering
A Comparative and Critical Analysis of the UK and UAE's Financial Intelligence Units

Authors: Waleed Alhosani



This book critically analyses the role of the United Arab Emirates Financial Intelligence Unit (FIU) in the Suspicious Activities Reports regime. The author pays particular attention to its functions and powers in dealing with Suspicious Activities Reports and relevant requirements imposed upon the reporting entities. In the analysis, the author also compares the United Arab Emirates FIU model to the United Kingdom FIU model.

In addition, the book investigates whether the current United Arab Emirates FIU model complies with the relevant international recommendations developed by the Financial Action Task Force in relation to the establishment of the unit, as well as its powers and functions.

This book suggests that more can be done to improve the current functions and powers of the United Arab Emirates FIU in an international context. Furthermore, the author suggests that the functions and powers of the United FIU model both comply with the international requirements and beneficially extend beyond their directives.

Table of contents (10 chapters)

Front Matter
Pages i-xix

Introduction
Pages 1-16

Financial Intelligence Units in the UK and UAE to Date
Pages 17-38

Banking Confidentiality Versus Disclosure
Pages 39-64

The Nature of the FIU from the Perspective of International Standards
Pages 65-115

The Emergence of the UAE FIU in Counteracting ML
Pages 117-169

Empirical Investigation in Relation to the AMLSCU
Pages 171-204

The UK’s AML Legislation and System
Pages 205-241

The UK’s SARs Regime on ML
Pages 243-279

The Role of the SOCA, Now the NCA, in the SARs Regime
Pages 281-321

Recommendations and Conclusion
Pages 323-367

Back Matter
Pages 369-402

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