DUBAI: In a significant step towards enhancing the nation’s capabilities in investigating financial crimes, the UAE Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AMLCTF) and Dubai Police have signed a Memorandum of Understanding (MoU) to enhance joint forces in combating financial crimes. The official signing ceremony occurred on the sidelines of the third edition of the World Police Summit, held from 5th-7th at the World Trade Centre in Dubai.
The MoU, signed by Hamid Al Zaabi, Director-General of the EO AMLCTF, and Expert Major General Khalil Ibrahim Al Mansouri, Assistant Commander-in-Chief for Criminal Investigation Affairs at Dubai Police, underscores a profound commitment to joint forces efforts by both entities in combating money laundering and financial crimes.
Hamid Al Zaabi, Director General of the EO AMLCTF, stressed that the agreement will significantly bolster the UAE’s capabilities for investigating and combatting financial crimes. He emphasised, “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”.
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 efforts made by the Dubai Police in cooperation 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 getting 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 this new MoU, the EO AMLCTF and the Dubai Police reaffirm their shared commitment to enhancing cooperation in the exchange of information and specialized studies, conducting joint awareness campaigns, and launching academic programs, training courses, and workshops to develop and support specialized competencies in the field. They will also work on developing strategies and technological solutions to address the dynamic challenges posed by these types of crimes.
Source: Emirates News Agency