The Impact of Banking Secrecy on Combating Money Laundering and Terrorist Financing Crimes.

This study aimed to clarify what is meant by banking secrecy and the penalty for its disclosure in the UAE legislation and it used the analytical method by analysing the texts of the state’s federal legislation to come up with the most important recommendations. This study was divided into two topics, where the first topic dealt with the nature of banking secrecy and its relationship to the crime of money laundry, while the second topic was devoted to clarify the role of banking secrecy in confronting money laundry. The study reached several results, the most important of which is that the UAE legislator did not tolerate the issue of confidentiality, as it stipulated strict penalties for those who disclose information. Moreover, the Emirati legislator balanced between the issue of confidentiality and the issue of Money laundry, in spite of the absence of a special law regarding banking secrecy. Further, the study recommended setting a specific limit for the entry of money into clients' accounts and reporting when this limit is exceeded. Furthermore, it recommended the need to specify the type of operations that must be monitored in particular, which are suspicious operations.