The bulletin sheds light on the recent initiatives launched in the country to update the framework for combating money laundering and terrorist financing and to correct the identified deficiencies in the local financial compliance system.
This issue has a special focus on measures adopted and progress made in areas such as international cooperation, local coordination, law enforcement initiatives, as well as public-private partnerships.
This newsletter comes as a joint initiative between the Ministry of Foreign Affairs and International Cooperation and the Executive Office for Combating Money Laundering and Terrorist Financing, in both Arabic and English and can be accessed online.
On this occasion, Director General of the Executive Office for Combating Money Laundering and Terrorism Financing Hamid Al Zaabi said: “We have developed this newsletter to educate, announce and share the clear steps the UAE is taking to confront the complex and ever-evolving threat of financial crime.”
He added, “There is still a lot of work to be done, but the progress we have made so far is encouraging,” according to the Emirates News Agency (WAM).
Al Zaabi continued, “In 2022 we look forward to achieving a clear goal of accelerating our capabilities to detect, investigate and understand money laundering and terrorist financing while developing compliance frameworks for financial crimes in the UAE and around the world.”