iPhone | iPad
Android
Huawei
The supermarket chain will expand its footprint in the UAE and Saudi Arabia through due to growing demand of retail products
KT APPDOWNLOAD
UAE becomes first Arab country to get observer status at Asia-Pacific Group on Money Laundering
The country will share its knowledge on anti-financial crime tactics and strategies at the upcoming plenary of the group which will be held in Canada
A delegation from the UAE is participating with observer status in the plenary of the Asia/Pacific Group on Money Laundering (APG), a Financial Action Task Force-Style regional body (FSRB), taking place this week in Vancouver, Canada. The UAE is the first Arab country to be granted observer status at the APG.
Ahmed Ali Al Sayegh, Minister of State to the UAE Cabinet, welcomed the decision of the Asia/Pacific Group on Money Laundering Plenary to grant observer status to the UAE.
"The UAE has placed international cooperation at the heart of its strategy and plans for countering money laundering and the financing of terrorism. Observer status at FSRB events is granted to countries that demonstrate an active and collaborative approach to fighting financial crime, which the UAE has displayed through its participation in MENAFATF and other multilateral organisations," he said.
The UAE delegation to the plenary is led by Hamid Al Zaabi, Director-General of the Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AML/CTF), and includes representatives from the UAE Financial Intelligence Unit (FIU) and other governmental authorities.
Al Zaabi remarked that the UAE delegation continues to advance its understanding of cross-border risks and exchange information on typologies and emerging threats. He said, "The Asia/Pacific Group on Money Laundering is the largest FSRB globally and provides a truly unique forum for cross-border cooperation and information exchange."
"The UAE has invested considerably in its AML/CFT system in recent years, and we will be sharing knowledge and best practices with our partners from over 40 countries. We will also be listening and learning and looking to bring back new insights that can ensure we are at the cutting edge of anti-financial crime strategies and tactics. I look forward to a busy and productive plenary."
Founded in 1997 and part of the global network of similar Financial Action Task Force-Style Regional Bodies (FSRBs), the Asia/Pacific Group on Money Laundering is the largest in terms of membership numbers and geographical size.
In addition to observer countries such as the UAE, the Asia/Pacific Group on Money Laundering plenary is also attended by key international organisations such as the International Monetary Fund, World Bank, OECD, United Nations Office on Drugs and Crime, the UN's Counter Terrorism Executive Directorate, the Asian Development Bank, Commonwealth Secretariat, Interpol, and the Egmont Group of Financial Intelligence Units.
ALSO READ:
More news from UAE
Wilson noted that the late Sheikh Khalifa and President Sheikh Mohamed have done several projects globally, which aren’t known yet
These vulnerabilities 'could allow an attacker to remotely execute malicious code on a victim's machine in the context of the logged-in user'
Some are using public transport, while car rentals have reported a 30 percent increase
This comes after all major private raffle draw operators paused their operations since the beginning of this year
Minister of Energy and Infrastructure also pointed to the rock berm project, which serves as a solution to future-proofing roads
Property owners in Dubai South and its vicinity have begun to raise prices - by up to 25 per cent
Members of the royal family, top officials, and a crowd of mourners performed funeral prayers on Thursday afternoon