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Cash flow and operational resilience
After challenging times, we have the fantastic opportunity to experience the world coming together to celebrate Expo 2020 here in the UAE. Together with our global network of over 58,000 passionate professionals, Grant Thornton UAE, shares the UAE’s commitment in providing businesses and individuals alike with opportunities and support to create a better tomorrow.
In this paper we explore Trade-Based Money Laundering in further detail focused in particular on the December 2020 FATF publication “Trade-Based Money Laundering, Trends and Developments”* and provide guidance to Financial Institutions and other entities on how to assess, mitigate, identify and report the financial crime threats arising from the global trade system.
The UAE’s recent changes to its commercial law allowing 100% ownership to non-UAE nationals for mainland businesses, is a testament to the country’s commitment to encourage foreign funding and economic diversification.