Financial Crime World

Qatar’s Robust Tech-Driven Approach to Combatting Financial Crimes During FIFA World Cup 2022

Qatar, the upcoming host of the FIFA World Cup 2022, is taking a strong stance against potential financial crimes during the event. Known for its robust security measures against corruption and financial malfeasance, Qatar is leaves no stone unturned to ensure a secure and transparent economic environment.

Qatar’s Commitment to Combating Financial Crimes

  • Ranked 31st out of 180 countries globally and first in the Arab world in Transparency International’s Corruption Perceptions Index (Dr. Hashim Al Sayed, Chairman of QCPA)
  • Stringent security measures against financial crimes

Preparing for the FIFA World Cup

  • All visitors must possess a Hayya card
  • No individual allowed to carry more than QAR 50,000 (approximately USD 13,650) in cash a month before the event without prior disclosure

Collective Effort

  • Cooperation of all law enforcement agencies
  • Raising awareness
  • Implementing due diligence
  • Adopting financial and technological innovations

Additional Measures

  • Following best legislative practices
  • Setting up supervisory entities
  • Joining international anti-money laundering institutions
  • Signing international agreements

Financial Crime Prevention Conference

  • Hosted by Qatar Financial Markets Authority and Global Compliance Institute
  • Keynote speakers discussed different aspects of financial crime prevention
    • Illegal gold flows
    • Fintech in anti-money laundering (AML)
    • Governance and anti-corruption

Neighboring Australia’s Money Laundering Inquiry

  • Star Entertainment’s money laundering controls under investigation
  • Ongoing challenge of combatting financial crimes in the region

Qatar’s Reputation as a Global Leader in Financial Crime Prevention

As preparations for the World Cup continue, Qatar’s unwavering commitment to ensuring a secure economic environment remains evident.

Dr. Hashim Al Sayed, Chairman of Qatar Association of Certified Public Accountants (QCPA)

At a recent financial crime compliance conference, Dr. Hashim Al Sayed, the Chairman of QCPA, reiterated Qatar’s commitment to combating financial crimes. He highlighted Qatar’s position as a leading country in Transparency International’s Corruption Perceptions Index.