UAE President Shaikh Khalifa bin Zayed Al Nahyan issued a federal decree to curb money laundering and counter terror financing, according to Khaleej Times.
The law defines a perpetrator of a money-laundering offence as any person who is aware that the money was derived from a felony or misdemeanour, and intentionally commits one of the following acts: transferring or transporting proceeds of crime with intent to conceal or disguise the illicit origin thereof, and/or the concealment or disguise of the true nature, origin, location, way of disposition, movement or rights related to any proceeds or the ownership thereof, and/or the acquisition, possession or use of such proceeds.
The law stipulates that money laundering is independent of the crime and that the punishment of the person who has committed an offence shall not protect him or her from being penalised for money laundering.