ABU DHABI- The Ministry of Economy held a training workshop on the real beneficiary and the obligations contained in Cabinet Resolution No. 58 for 2020 on the Regulation of the Procedures of the Real Beneficiary.
The workshop was hosted for members of law enforcement in coordination with the Executive Office to Counter Money Laundering and Terrorist Financing.
This workshop is part of a series of scheduled workshops aimed at raising awareness of the requirements of the real beneficiary, which will enhance the UAE's efforts to combat money laundering, terrorism, and illegal organizations and meet the requirements of international bodies.
The workshop provided a detailed explanation of the resolution with practical cases. It also discussed the scope and validity of the resolution while addressing licensing, registration, and identification of the real beneficiary.
The workshop also covered transparency, data privacy, and the role of the Ministry of Economy concerning domestic and international cooperation, sanctions, and grievances.
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