SARA ALZAABI (ABU DHABI)
The General Secretariat of the National Anti-Money Laundering and Combating the Financing of Terrorism and Proliferation Financing Committee launched the third cycle of the National Risk Assessment (NRA) on Monday, during a media briefing held on the sidelines of the 15th United Nations Congress on Crime Prevention and Criminal Justice.
The new cycle marked the latest phase in the UAE’s efforts to strengthen the protection of its financial system and address existing and emerging risks.
It built on the previous national risk assessments conducted in 2018 and 2024.
The assessment aimed to develop an updated national understanding of money laundering, terrorist financing and proliferation financing risks.
This is through using data and evidence gathered with the participation of relevant authorities and the private sector.
It covered more than 20 sectors and 22 predicate offences, with its findings intended to help identify national priorities, guide policymaking, support future decision-making as well as direct resources towards areas of greatest risk.
Its scope included financial institutions, legal arrangements, non-profit organisations, terrorist financing, proliferation financing and targeted financial sanctions.
Officials also highlighted the importance of cooperation between government entities and other partners.
Emerging technologies were also a key focus, with officials highlighting the use of artificial intelligence to analyse data and identify areas of risk more precisely, helping authorities direct their efforts and resources where they were most needed.
Speaking at the briefing were Talal Mohammed Al Tunaiji, Director of the Executive Office for Control and Non-Proliferation, Brigadier General Abdulaziz Abdullah Al Ahmad, Director General of the Federal Criminal Police, Chairman of the Money Laundering Threat Assessment Team, Dr Ebrahim Hamdan AlAlkeem, Director of National Risk & Policies Department at General Secretariat of the National Anti-Money laundering and Combatting Financing of Terrorism and Proliferation Financing Committee, and Fawzia Al Ali, Head of National Risk Section at General Secretariat of the National Anti-Money Laundering and Combatting Financing of Terrorism and Proliferation Financing Committee.
In an interview with Aletihad, Dr AlAlkeem said the third assessment would place greater emphasis on emerging threats and technologies.
“Our focus today in our third NRA is on trending technology, especially when it comes to AI and performing such financial crime,” Dr AlAlkeem said.
The assessment involves more than 84 entities and will draw on cooperation across participating organisations to evaluate risks and respond to evolving financial crime threats, he said.
He added that international collaboration would also play a role in the assessment.
“We want to be ahead of the game, and there is collaboration with the international bodies in terms of collecting intelligence, sharing experience and helping us in building the use cases for this assessment,” he said.