Money laundering is one of the most serious economic crimes. It is linked to all criminal activities, generates substantial illegal profits, and has always posed a serious threat to national and international economies. Most countries employ multiple approaches to fight this crime. The UAE has implemented several laws to tackle money laundering. In this regard, the UAE issued Federal Law No. 4 of 2002 on Anti-money Laundering. This article defines the concept of money laundering and explores its economic effects in the UAE. It also identifies the approaches taken against this crime at national and international levels. It concludes with recommendations for further research.