UAE Sanctions and Risk Assessment Quiz

What is the main purpose of sanctions?

• To promote tourism

• To restrict activities that support illegal or harmful behavior

• To increase trade between countries

• To support money laundering

Which authority in the UAE is responsible for maintaining the local sanctions list?

• UAE Ministry of Justice

• EOCN

• Central Bank of UAE

• Dubai Police

The UN sanctions list mainly targets:

• Tax evaders

• Environmental violations

• Individuals and entities linked to terrorism or proliferation

• Import/export businesses

What should a company do if a customer matches a name on the UN or UAE sanctions list?

• Continue business as usual

• Freeze the account and report immediately to the authorities

• Ask the customer to clarify

• Ignore unless it’s confirmed by another bank

Which UAE body enforces targeted financial sanctions?

• Ministry of Economy

• Central Bank of UAE

• EO AML/CFT

• All of the above

What is the penalty for breaching UAE sanctions obligations?

• Warning letter only

• Financial penalties or imprisonment

• Verbal caution

• Loss of business license only

Which international body issues global sanctions lists?

• FATF

• United Nations Security Council (UNSC)

• World Bank

• IMF

When should financial institutions check the sanctions lists?

• Once a year

• Only when opening accounts

• At onboarding and during ongoing monitoring

• Only when requested by the regulator

The UAE sanctions list is officially known as the:

• National Watch List

• Local Terrorist and Sanctions List

• Local Terrorist List and Sanctions Committee List

• Domestic AML Register

Which of the following is an example of a sanction measure?

• Freezing assets

• Providing tax benefits

• Increasing salary payments

• Granting licenses