News DeskDubai, UAE – The UAE Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AMLCTF) and Dubai Police have taken a significant stride in fortifying the nation’s capabilities in investigating financial crimes. In a landmark move, the two entities have inked a Memorandum of Understanding (MOU) aimed at bolstering joint efforts in combating financial crimes. The official signing ceremony transpired on the sidelines of the esteemed third edition of the World Police Summit, convened from March 5th to 7th at the World Trade Centre in Dubai.
The MOU, formally signed by HE Hamid AlZaabi, Director General of the EO AMLCTF, and His Excellency Expert Major General Khalil Ibrahim Al Mansouri, Assistant Commander-in-Chief for Criminal Investigation Affairs at Dubai Police, signifies a deep-seated commitment to collaborative endeavors in tackling money laundering and financial crimes head-on.
HE Hamid AlZaabi, Director General of the EO AMLCTF, underscored the profound impact of this agreement on augmenting the UAE’s capabilities in investigating and combating financial crimes. He highlighted, “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. In recent years, law enforcement agencies have made several high-profile arrests pertaining to financial crimes, reflecting the substantial efforts to foster a secure national economy. The activities set out in this MOU will bolster these capabilities, sending a clear signal to criminals that their illicit actions have no place within the UAE’s borders.”
Echoing this sentiment, His Excellency Expert Major General Khalil Ibrahim Al Mansouri, Assistant Commander-in-Chief for Criminal Investigation Affairs at Dubai Police, affirmed that this agreement is part of the concerted efforts led by the Dubai Police in collaboration with relevant entities to enhance the means of combating financial crimes. He added, “The joint efforts under the wise leadership’s directives have achieved remarkable success, recently elevating the United Arab Emirates off the FATF (Financial Action Task Force) grey list. Today, through our collaborative efforts, we continue to develop tools and enablers that achieve the strategic objectives between the parties and contribute to establishing effective mechanisms to confront financial crimes decisively.”
Through the provisions outlined in this new MOU, the EO AMLCTF and the Dubai Police reaffirm their shared commitment to enhancing cooperation in various domains, including the exchange of information and specialized studies, conducting joint awareness campaigns, and launching academic programs, training courses, and workshops aimed at developing and supporting specialized competencies in the field. Moreover, they will collaborate on devising strategies and deploying technological solutions to address the dynamic challenges posed by evolving financial crimes.
This collaborative initiative marks a pivotal step forward in the UAE’s relentless pursuit of safeguarding its financial integrity and upholding the rule of law, underscoring the nation’s unwavering determination to combat financial crimes through concerted efforts and strategic partnerships.
