Money Laundering Bulletin Publishes Akin Gump Article on New UAE Requirements Under Updated Targeted Financial Sanctions Guidance
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Akin Gump international trade partner Mac Fadlallah, counsel Lauren Talerman and associate Mazen Baddar have authored the Money Laundering Bulletin article “UAE – target sanctions, new guidance.” The article, adapted from an Akin Gump client alert, discusses updated guidance from the United Arab Emirates on the steps that must be taken to comply with its targeted financial sanctions regime.
The authors detail what those subject to the regime must do to ensure compliance and what the ramifications might be for failure to comply, noting that it could lead to imprisonment or a fine. In addition, there could be certain administrative actions, they write, including having one’s trade license cancelled or being banned from working in the sector related to one’s violation.
To read the original client alert on which the article is based, please click here.
