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Welcome to NAMLCFTC Website

The UAE National Anti Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC) is the primary body for policy making and issuing regulations to combat money laundering and terrorism financing in the UAE.

NAMLCFTC Structure

24

years of dedication

8

sub-committees

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The UAE National Anti Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC) is the primary body for policy making and issuing regulations to combat money laundering and terrorism financing in the UAE.

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According to Federal Decree-law No. (20) of 2018 On anti money laundering and combatting the financing of terrorism and financing of illegal organisations and its amendments, the National Committee for Anti Money Laundering and Combatting the Financing of Terrorism and Financing of Illegal Organizations (NAMLCFTC) has competence over the following activities - Preparing and developing a national strategy to combat crime and proposing related regulations, policies, and procedures in co-ordination with the competent authorities, and monitoring their implementation.

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     Money laundering refers to the following acts:

 

  1. Any person with knowledge that funds held are the proceeds of a felony or a misdemeanour, and who wilfully commits any of the following acts, shall be considered a perpetrator of the crime of money laundering:
    • Transferring or moving proceeds or conducting any transaction with the aim of concealing or disguising their illegal source.
    • Concealing or disguising the true nature, source or location of the proceeds as well as the method involving their disposition, movement, ownership of or rights with respect to said proceeds.
    • Acquiring, possessing or using proceeds upon receipt.
    • Assisting the perpetrator of the predicate offence to escape punishment.
  1. The crime of money laundering is considered as an independent crime. The punishment