Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.

Start by selecting your Topic of interest below. Then choose your Regions and finally refine the exact Subjects you are seeking clarity on to view detailed analysis provided by our carefully selected internationally recognised experts.

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FinTech

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6.

Financial crime

6.1

What provisions govern money laundering and other forms of financial crime in your jurisdiction and what specific implications do these have for fintech companies?

Egypt

Soliman Hashish & Partners

Answer ... Money laundering is mainly governed by the Anti-money Laundering (AML) Law and its Executive Regulation.

The AML Law lists 15 entities that must comply with the AML Law and its Executive Regulation. These entities include all banks, branches of foreign banks in Egypt and money transfer entities.

These entities are also subject to several obligations under other laws governing their activities. Breach of these obligations may incur different penalties, including fines and/or imprisonment.

For more information about this answer please contact: Mohamed Hashish from Soliman Hashish & Partners

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Contributors

Topic

FinTech

Emily Reid

Hogan Lovells

Contributing Editor

Article Author(s)

Mohamed Hashish

Soliman Hashish & Partners

Egypt