Financial Crime World

UAE Takes Robust Step Against Financial Crimes with Dubai Police Memorandum of Understanding

The United Arab Emirates has taken a significant step in combating financial crimes by signing a Memorandum of Understanding (MOU) between its Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AMLCTF) and Dubai Police. The agreement aims to strengthen the nation’s investigative and combat capabilities against illicit activities such as money laundering.

Formalizing the MOU at the World Police Summit

The signing ceremony took place during the third World Police Summit held in Dubai, where HE Hamid AlZaabi, Director General of EO AMLCTF, and His Excellency Expert Major General Khalil Ibrahim Al Mansouri, Assistant Commander-in-Chief for Criminal Investigation Affairs at Dubai Police, inked the agreement.

Strengthening Investigative Capabilities

According to HE Hamid AlZaabi, the MOU will significantly bolster the UAE’s capabilities in investigating and combating financial crimes. “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,” he said.

Recent Successes and Future Plans

The Director General also highlighted recent high-profile arrests made by law enforcement agencies, reflecting efforts to foster a secure national economy. H.E. Expert Major General Khalil Ibrahim Al Mansouri praised the joint efforts under the wise leadership’s directives, which have achieved remarkable success in elevating the UAE off the FATF grey list.

Enhanced Cooperation and Training

The MOU paves the way for enhanced cooperation in:

  • Information exchange
  • Specialized studies
  • Implementation of joint awareness campaigns
  • Academic programs, training courses, and workshops to nurture specialized skills in addressing financial crimes

Developing Strategic and Technological Solutions

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.

Key Points:

  • The MOU aims to strengthen the nation’s investigative and combat capabilities against illicit activities such as money laundering.
  • The agreement reflects a deep commitment to collaborative efforts to eradicate money laundering and related financial crimes.
  • The partnership is committed to developing strategic and technological solutions to meet the evolving challenges presented by financial criminal activities.