UAE Convenes Summit on Curbing Money Laundering and Terrorism Financing

Richard M. May 17, 2023 4 minute read

The UAE convened an international summit on money laundering and terrorist financing prevention in Abu Dhabi, attended by 31 countries, for 3 days. The Ministry of Justice has released a statement emphasising the country’s efforts to combat illicit activities, money laundering, and terrorism financing.

The Ministry of Justice had organised a significant authority conference to combat terrorism financing, illicit activities and money laundering. This three-day conference in Abu Dhabi was attended by representatives from 31 countries specialising in fighting terrorism financing, suspicious activities, and money laundering.

Additionally, the Ministry has contacted other UAE entities to facilitate this effort, including Abu Dhabi, Ras Al Khaimah, and Dubai authorities. These authorities include several government departments, including the Ministry of Interior, the Ministry of Foreign Affairs, the Abu Dhabi Executive Office, and the Military Judiciary.

A speech cited by Eng Abdul Rahman Muhammad Al Hammadi quoted Abdullah Sultan Al Nuaimi, the Ministry of Justice’s Acting Undersecretary, stated: “Today, money laundering and terrorist financing crimes are among the biggest challenges facing the international community, which is in need of the cooperation and solidarity of all countries of the world, without exception, to effectively address this serious crime, and to draw strategies and develop common policies and procedures necessary to combat it, both at the national and international levels.”

A central authority supported this effort by using the latest technologies and applying best practices in legislation to facilitate international cooperation, direct communication, information exchange, and coordination in investigations and trials, and using the latest technologies. As part of his presentation, Al Nuaimi highlighted the UAE’s efforts in fighting money laundering and terrorist financing crimes.

“The UAE is one of the pioneering countries in this field, and many strict legislations and laws have been issued in this context. In coordination with its partners from state institutions internally and externally, it took many necessary measures and coordinated its efforts in this context with all relevant authorities in the country, whether through the Department of International Cooperation, or the Anti-Money Laundering Department in the Ministry,” Al Nuaimi said.

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