The government through its interventions by requiring companies to disclose their significant owners, alongside other regulations helps reveal the true beneficiaries behind corporate entities, making it difficult for individuals or entities to hide their involvement in potentially corrupt activities. They further discourage the creation of shell companies used for money laundering or concealing corrupt practices, since the ultimate beneficial owners must be disclosed.
Effects of FinCEN convertible virtual currency mixing seen first in UAE cryptopolitan.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cryptopolitan.com Daily Mail and Mail on Sunday newspapers.
UAE: NAMLCFTC issues guidance on combating use of unlicenced virtual asset service providers zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
WITH the country’s one-year reprieve from the Financial Action Task Force (FATF) almost over, Malacañang has ordered all concerned agencies to complete the country’s pending anti-money laundering commitments under the International Cooperation Review Group (ICRG) Action Plan by next month. In his Memorandum Circular (MC) No. 37 dated October 18, 2023, Executive Secretary Lucas P.