Today's Edition
Dubai (ALETIHAD)
The United Arab Emirates has taken a robust step forward in its fight against financial crimes through a newly inked Memorandum of Understanding (MOU) between the UAE Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AMLCTF) and Dubai Police. This strategic alliance, formalized at the third World Police Summit held at the World Trade Centre in Dubai, aims to significantly strengthen the nation's investigative and combat capabilities against such illicit activities.
Signed by HE Hamid AlZaabi, Director General of the EO AMLCTF, and His Excellency Expert Major General Khalil Ibrahim Al Mansouri, Assistant Commander-in-Chief for Criminal Investigation Affairs at Dubai Police, the MOU reflects a deep-seated commitment to collaborative efforts in eradicating money laundering and related financial crimes.
HE Hamid AlZaabi stressed that the agreement will significantly bolster the UAE's capabilities for investigating and combatting financial crimes, stating: "Police forces serve as an indispensable pillar in the battle against financial crimes, spearheading investigations into suspected illicit activities and collaborating closely with prosecutors to secure convictions. In recent years, law enforcement agencies have made several high-profile arrests pertaining to financial crimes, reflecting the substantial efforts to foster a secure national economy. The activities set out in this MOU will bolster these capabilities, sending a clear signal to criminals that their illicit actions have no place within the UAE's borders".
H.E. Expert Major General Khalil Ibrahim Al Mansouri, said: "The joint efforts under the wise leadership's directives have achieved remarkable success, recently elevating the United Arab Emirates off the FATF (Financial Action Task Force) grey list. Today, through our collaborative efforts, we continue to develop tools and enablers that achieve the strategic objectives between the parties and contribute to establishing effective mechanisms to confront financial crimes decisively."
This MOU paves the way for enhanced cooperation in information exchange, specialised studies, and the implementation of joint awareness campaigns. It also aims to initiate academic programmes, training courses, and workshops to nurture specialized skills in addressing financial crimes. Furthermore, the partnership is committed to developing strategic and technological solutions to meet the evolving challenges presented by financial criminal activities, reinforcing the UAE's stance as a formidable force against financial crimes.
