quora

The UAE and Malta Organise a Joint Workshop to Share AML/CFT Knowledge & Experience

n-img-uae

The UAE and Malta organised training workshops between 12-15 June to strengthen cooperation and combat AML/CFT.

AML/CFT training workshop organised by the UAE and Malta in collaboration with one another internationally cooperating from 12 to 15 June as part of the ministry’s efforts to facilitate UAE-Malta cooperation and experience exchange. The workshop was attended by representatives of the Ministry of Foreign Affairs, the National Anti-Money Laundering Committee, and the AML/CFT Executive Office, H.E. Maria Camilleri, the Ambassador of Malta to the United Arab Emirates, and Minister of Economy H.E. Abdullah bin Touq Al Marri. Further, representatives of the country’s regulatory and licensing authorities and commercial and financial free zones attended the workshop.

H.E. Bin Touq, in his opening speech, stated, “The UAE is keen to strengthen partnerships and exchange expertise and experiences with our global partners in various fields, especially economic ones, to achieve common development goals. The hosting of this workshop is an outcome of the second meeting with several officials of the Financial Services Authority and the Financial Intelligence and Counter-Terrorism Unit in Malta last April. It also reflects the shared desire of our two countries to enhance economic, commercial, and investment cooperation and implement AML/CFT best practices in line with the requirements of the Financial Action Task Force (FATF). These efforts will enhance the position of the two countries on the relevant global competitiveness indicators.”

As part of the training workshop, participants discussed the UAE’s efforts to combat money laundering crimes, the measures that have been implemented, and Malta’s anti-money laundering and anti-terrorism measures, which resulted in Malta being delisted from FATF’s enhanced supervision list. The UAE-Malta cooperation in this field should strengthen the knowledge and experience exchanged more efficiently, as well as develop a reliable system for monitoring all financial and non-financial transactions suspected of money laundering activity.

The two countries agreed that more collaborations, training, and delegation visits should be needed to improve cooperation and exchange experiences in combating financial crimes and AML/CFT. During its regular monitoring process for assessing compliance with the Federal Decree-Law. This regulation, as well as the executive regulations and related decisions, are intended to combat money laundering crimes, combat the financing of terrorism, and ensure that DNFBPs comply with International Standards issued by the FATF.

Suggested Reads:

KUWAIT’S MINISTRY OF SOCIAL AFFAIRS TO AMEND THE EXECUTIVE LAW TO FIGHT MONEY LAUNDERING AND TERRORISM

FOLLOWING AN FCA CRACKDOWN, CRYPTOCURRENCY INVESTORS TO WAIT 24 HOURS BEFORE COMPLETING THEIR TRANSACTIONS IN THE UK

ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC) NOTIFIES ESTATE AGENTS OF ANTI-MONEY LAUNDERING PROCEDURES

Related Posts

News

United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

UK Parliament Legislates New Digital Identity Verification Services Bill Taiwan and Singapore St...

United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities Read More

News

UK Parliament Legislates New Digital Identity Verification Services Bill

At the same time, trade bodies and digital identity service providers have consulted with the gov...

UK Parliament Legislates New Digital Identity Verification Services Bill Read More

News

Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

According to the recently passed amendments, overseas crypto platforms are obliged to set up loca...

Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks Read More

News

Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

For the CSPs, the law mandates that they must ensure that the arranged nominees are “fit and prop...

Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively Read More

News

Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates

In addition to these shortcomings, the watchdog discovered that the country’s banking, constructi...

Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates Read More

News

FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

These suspicious transactions amounted to more than $300 million and were conducted between 2002 ...

FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities Read More

News

Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations

Mohammad Shahid Ahmed, the Chief of Staff at NFIU, has been appointed as the Vice Chairman of the...

Nigeria, Myanmar, and  Türkiye Take Effective Steps to Meet FATF Recommendations Read More

News

Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

In addition to this, the spokesperson also stated that the company failed to comply with due dili...

Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings Read More

News

United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

UK Parliament Legislates New Digital Identity Verification Services Bill Taiwan and Singapore St...

United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities Read More

News

UK Parliament Legislates New Digital Identity Verification Services Bill

At the same time, trade bodies and digital identity service providers have consulted with the gov...

UK Parliament Legislates New Digital Identity Verification Services Bill Read More

News

Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

According to the recently passed amendments, overseas crypto platforms are obliged to set up loca...

Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks Read More

News

Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

For the CSPs, the law mandates that they must ensure that the arranged nominees are “fit and prop...

Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively Read More

News

Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates

In addition to these shortcomings, the watchdog discovered that the country’s banking, constructi...

Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates Read More

News

FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

These suspicious transactions amounted to more than $300 million and were conducted between 2002 ...

FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities Read More

News

Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations

Mohammad Shahid Ahmed, the Chief of Staff at NFIU, has been appointed as the Vice Chairman of the...

Nigeria, Myanmar, and  Türkiye Take Effective Steps to Meet FATF Recommendations Read More

News

Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

In addition to this, the spokesperson also stated that the company failed to comply with due dili...

Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings Read More

Take the next steps to better security.

Contact us

Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

Contact us

Request demo

Get free access to our platform and try our products today.

Get started