Plesgharr
Regarding Criminalization of Money Laundering
We, Zayed Bin Sultan A1-Naltyan, President of the United Arab Emirates,
Having Perused:
The Constitution and,
Federal Law No (1) of 1972 , regarding jurisdictions of the Ministries and powers of the Ministers, and amending laws thereof, and,
Union Law N0 (10) of 1980 , regarding the Central Bank, the Monetary System and
Organization of Banking and amending laws thereof, and,
The Penal Code promulgated by Union Law No (3) of198'7, and,
The Penal Code Procedures promulgated by Federal law No (35) of 1992, and,
Federal Law No (14) of 1995 regarding Fighting Narcotics and Psychotropic
Substances, and,
Federal Decree No (55) of l 990, regarding Approval to Join the 1988 United Nations
Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, and, In accordance with presentations by the Minister of Finance and Industry, approval of the Cabinet, approval of the National Federal Council and ratification of the Supreme
Union Council,
Promulgate the following Law:
Chapter One
Definition of Money Laundering
Article (2)
1— Where a person intentionally commits or assists in commission of any of the following acts in respect of Property derived from any of the offences stated in
Clause (2) of this Article, such person shall be considered a perpetrator of the
Money Laundering offence:
a. The conversion , transfer or deposit of Proceeds, with intent to conceal or disguise the illicit origin of such Proceeds.
b. The concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of Proceeds.
c. The acquisition, possession or use of such Proceeds.
2- For the purposes of this law, Property shall mean those derived from the following offences:
a. Narcotics and psychotropic substances.
b. Kidnapping, piracy and terrorism.
c. Offences committed in violation of the environmental laws.
d. Illicit