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In a significant move towards bolstering the nation's capabilities in investigating financial crimes, the UAE Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AMLCTF) and Dubai Police have inked a memorandum of understanding (MOU) to strengthen collaborative efforts in combatting financial crimes.
The official signing ceremony took place on the sidelines of the third edition of the World Police Summit, held from March 5 to 7 at the World Trade Centre in Dubai.
The MoU, signed by Hamid AlZaabi, Director-General of the EO AMLCTF, and Expert Major General Khalil Ibrahim Al Mansouri, Assistant Commander-in-Chief for Criminal Investigation Affairs at Dubai Police, signifies a deep commitment to joint endeavours by both organisations in countering money laundering and financial crimes.
Hamid AlZaabi emphasised that the agreement would significantly enhance the UAE's capabilities in investigating and combating financial crimes. "Law enforcement agencies serve as a vital pillar in the fight against financial crimes, leading investigations into suspected illicit activities and working closely with prosecutors to secure convictions.
In recent years, several high-profile arrests related to financial crimes have been made by law enforcement agencies, reflecting substantial efforts to foster a secure national economy. The activities outlined in this MOU will strengthen these capabilities, sending a clear message to criminals that their illicit actions will not be tolerated within the UAE's borders,” he noted.
Khalil Ibrahim Al Mansouri said that the MoU is part of Dubai Police's collaborative efforts with relevant entities to enhance the means of combating financial crimes. "Under the wise leadership's directives, joint efforts have achieved significant success, recently leading to the United Arab Emirates being removed from the FATF (Financial Action Task Force) grey list. Today, through our collaborative efforts, we continue to develop tools and resources that align with the strategic objectives between the parties and contribute to establishing effective mechanisms to decisively confront financial crimes."
Through the MoU, the EO AMLCTF and Dubai Police reiterate their shared commitment to enhancing cooperation in exchanging information and specialised studies, conducting joint awareness campaigns and launching academic programmes, training courses and workshops to cultivate and bolster specialised competencies in the field. They will also collaborate on developing strategies and technological solutions to address the evolving challenges posed by these types of crimes.
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