The meeting witnessed a discussion of the progress made by the concerned authorities in the UAE in addressing financial crimes and illegal cash flows, with a review of the state’s plan to strengthen national efforts in this field, by representatives of the Ministry of Foreign Affairs and International Cooperation and the Executive Office to Combat Money Laundering and Terrorist Financing.
The meeting reviewed the development of the national system to counter money laundering and terrorist financing, and the procedures implemented by the UAE in coordination with its international partners, to detect, seize and punish financial criminal networks, in compliance with the state’s primary role in protecting the global financial system, according to what the WAM agency reported.
The most prominent of these partnerships are the partnership with the United Kingdom to address illicit financial flows, and the “European Union Structural Dialogue”, with reference to capacity-building sessions and workshops with judicial authorities, which included 31 meetings, focused on the best global standards.
The meeting also reviewed the achievements of the “Emirates Group of Experts to Combat Money Laundering and Terrorism Financing”, which held 44 meetings with its counterparts from strategic partners, where the focus was on a mechanism for training and developing national expertise, to prepare qualified and distinguished competencies in the field of combating financial crimes.
The meeting also discussed the country’s measures and progress in enacting financial sanctions to combat money laundering, terrorist financing and the proliferation of nuclear weapons, as well as increasing transparency about the beneficial ownership of legal arrangements and entities.
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