UAE’s Real Estate Market Bolsters AML Compliance to Safeguard Integrity and Investor Confidence


Date: Dubai, UAE, June 11, 2024

In response to recent global challenges regarding the integrity of real estate transactions, the UAE’s real estate sector has fortified its commitment to upholding stringent Anti-Money Laundering (AML) compliance standards. With commendation from the FATF for its regulatory enhancements, the UAE emerges as a beacon of transparency and security in property investments.


A recent report by the Organized Crime and Corruption Reporting Project spotlighted concerns regarding alleged criminals, sanctioned individuals, and corrupt political figures owning property in the UAE. Addressing these concerns, UAE officials reaffirmed their dedication to safeguarding the global financial system’s integrity and reiterated collaborative efforts with international partners to combat illicit finance.


Mr. Haider Qureshi, Managing Director of Amity Mortgages, expressed his views on the matter, stating, “In light of evolving global challenges, Amity Mortgages stands firm in our commitment to upholding rigorous AML standards. We recognize the pivotal role of transparency and due diligence in preserving the integrity of the real estate market.”


Aligned with international best practices, developers in Dubai have implemented enhanced due diligence measures to scrutinize customer identities and proof of funds meticulously. These measures, including the utilization of specialized AML compliance systems meeting FATF standards, underscore the industry’s dedication to mitigating risks associated with illicit activities.


Furthermore, internal risk management policies, such as restrictions on bulk purchases and rigorous payment processing through compliant financial institutions, further fortify the sector’s resilience against financial risks.


Contrary to assertions of the UAE’s real estate sector serving as a haven for illicit activities, officials and developers emphasize the robust regulatory oversight and effective AML/CFT systems in place. These measures underscore the market’s commitment to maintaining its reputation as a secure and reputable investment destination.


In conclusion, the UAE’s real estate market continues to thrive under a strict regulatory framework, ensuring transparency and legitimacy in property transactions. With unwavering dedication to upholding AML compliance

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