2023-07-29 04:40:18
Abu Dhabi: Various government departments have reviewed the measures taken so far to prevent money laundering and terrorist financing. The review workshop was conducted in collaboration with the World Bank team.
All major departments of the country participated. The steps taken so far and its achievements were presented by various departments. The aim is to completely eliminate money laundering and support for terrorism.
The workshop assessed that the National Risk Assessment System has a crucial role to play in making everyone in the public and private sectors aware of the dangers of these two transactions. Inter-departmental guidelines were drawn up to detect and prevent areas where black money and terrorist funds flow.
Director General of the Executive Office for the Prevention of Financial Crimes, Hamid Alzabi, said that the fight against such crimes should be intensified. He also said that the country will follow the guidelines of the World Bank Group in the fight against such crimes.
Representatives from the Ministries of Finance, Justice, Interior, Police, Public Prosecution, Identity, Citizenship, Customs and Port Security (ICP), UAE Central Bank, Financial Free Zones, Financial Intelligence Unit and others participated in the workshop.
The workshop examined in detail the threat of terrorist funding and money laundering in various sectors, the dangerous growth of such funding at the national level, the dangers that may occur in the banking sector and the justice sector. Further review meetings and workshops will be held.
English Summary: UAE officials discuss money laundering and terrorism financing risks with World Bank.
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