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2 Mitigating Risks

Effective from 15/8/2021

The sections below elaborate on how LFIs can apply specific preventive measures to identify, manage, and mitigate the risks associated with hawala providers customers. These are not exhaustive and LFIs should consult the legal and regulatory framework in force in the UAE for the measures to be taken. The controls mentioned below should be at the minimum integrated into the LFI's larger AML/CFT compliance program, and supported with appropriate governance and training.