The oil and gas conglomerate and Fifa, the world governing body, sign major sponsorship agreement
The UAE Expert Group for anti-money laundering and combating the financing of terrorism (AML/CFT) has continued to hold productive meetings with key partners to discuss AML/CFT matters.
From July to mid-September, the group met counterparts from Argentina, Brazil, China, Hong Kong (Special Administration Region, China), India, Israel, Italy, Malta, Mexico, New Zealand, Singapore, Sweden, the US and the UK. These meetings built on earlier meetings held with other key partners, including Saudi Arabia, the Gulf Cooperation Council (GCC), the European Commission (EC), and Russia.
During the latest meetings, detailed discussions took place on a range of AML/CFT reforms adopted as part of the UAE’s ongoing plans to bring about a sustainable AML/CFT framework, including in relation to topical and sectoral risk assessments, the UAE’s beneficial ownership regime, money laundering investigations and prosecutions. It also highlights the importance of equipping the public and private sectors with the tools needed to strengthen the UAE’s financial crime compliance defences and controls.
In addition, discussions highlighted the implementation of the UAE’s national action plan and the ongoing work of the higher committee overseeing the national strategy on AML/CFT, the executive office for AML/CFT, and national AML/CFT committee on coordinating the UAE’s approach to strengthening its AML/CFT framework.
Evidence of the UAE’s recent efforts was demonstrated throughout the meetings. Important milestones were highlighted, including the recent establishment and meetings held by the public-private partnership committee, which brings together 16 government agencies and private sector institutions in a dynamic coalition to sharpen the UAE’s collective focus on improving the investigation and prosecution of financial crimes through intelligence sharing and analysis.
International cooperation also remained high on the agenda during the meetings. Ongoing examples of cooperation with international partners were relayed by the UAE’s Ministry of Justice, Ministry of Foreign Affairs and International Cooperation, the Financial Intelligence Unit, the Ministry of Interior, supervisory authorities, and law enforcement agencies.
Most importantly, the meetings offered an important opportunity to learn from the UAE’s partners in adopting AML/CFT best practices in line with the global and regional threats posed by illicit finance.
“It is a privilege to explain the significant progress being made to our international partners, with whom we are committed to working closely as we look to safeguard the integrity of the international financial system,” Amna Fikri, director of the Economic and Trade Affairs Department at MoFAIC, said.
“By doing so, we will continue to accelerate our abilities in detecting, investigating, and understanding money laundering and terrorist financing risks as we advance our financial crime compliance frameworks in the UAE and ensure their long-term resilience and sustainability,” he added. — Wam
The oil and gas conglomerate and Fifa, the world governing body, sign major sponsorship agreement
Toomaj Salehi risks being hanged after the conviction on the Shariah charge of "corruption on Earth" by a Revolutionary Court
Aid groups warn any invasion would add to already-catastrophic conditions for Gaza's 2.4 million people
The American they will face Australia and Serbia on July 15 and July 17 as part of their preparation for the Paris Olympic Games
The leaders emphasise that the deal to release the hostages would bring an immediate and prolonged ceasefire in Gaza
Dubai-based Sumit Augustine has had a philosophical approach towards spending
The regional upswing also defies oil production cutbacks
It's a treatise that would determine the course of your life, not just academically, but as a person too