Mohammed Arif Shaikh’s Post

The UAE Cabinet has issued a decision according to which The National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC) will replace the Executive Office of the Anti-Money Laundering and Countering the Financing of Terrorism. #antimoneylaundering #UAE #Finance #Finance360

ESTABLISHMENT OF THE GENERAL SECRETARIAT AS THE EXECUTIVE BODY OF THE NATIONAL ANTI-MONEY LAUNDERING AND COMBATTING FINANCING OF TERRORISM AND FINANCING OF ILLEGAL ORGANIZATIONS COMMITTEE TO ENHANCE NATIONAL ECONOMIC SECURITY In a significant strategic step to enhance the UAE’s framework for combating of financial crime, and in accordance to Federal Decress by Law no. (7) of 2024 establishing the creation of General Secretariat of the National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC), the administrative regulation has been adopted for General Secretariat as an executive body supports the work of the National Committee and the Higher Committee Overseeing the National Strategy for Anti-Money Laundering and Combating the Financing of Terrorism (Higher Committee). Read more : https://lnkd.in/ePFRSwzq

The UAE has unveiled a new National Strategy (2024-2027) to enhance its fight against money laundering and counter the financing of terrorism. The strategy focuses on strengthening regulatory frameworks, increasing transparency, improving coordination between authorities, and addressing risks related to virtual assets. The goal is to align with international standards and protect the integrity of the financial system. This proactive step underscores the UAE's commitment to safeguarding its economy and reinforcing its global financial standing. #AntiMoneyLaundering #Compliance #FinancialRegulation #UAEBusiness #AML #VirtualAssets #FinancialCrime For more details, visit: https://lnkd.in/diUX4g_m

We talk alot in Compliance about "tone from the top" and it is hugely encourging to see that AML & CTF are very firmly set as long term strategic priorities by the UAE's leadership. The UAE's new strategy sets it apart as a leader and trailblazer across the MENA region. We work at the very highest levels alongside government bodies, law enforcement and regulators around the world, as well as NGOs and the private sector to tackle illicit finance at a global, regional and country specific level. The UAE is a fantastic example of how much positive change can be achieved when the public and private sectors work together in a coordinated, whole system response. #ppp #aml #ctf #leadership #uae

The UAE has issued a Federal Decree-Law amending some provisions of the Federal Decree-Law on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations. The new Decree is part of the UAE’s efforts to enhance the regulatory and legal framework against Money Laundering and the Financing of Terrorism. Read more on our article: https://lnkd.in/dmFDAPuY For more information, please contact us at [email protected] #UAE #AMLandCFT #CFT #FinancialCrimes #AMLCompliance #MKCompliance

The UAE has issued a new Federal Decree-Law amending provisions on Anti-Money Laundering and Combating the Financing of Terrorism, reinforcing its commitment to safeguarding the financial ecosystem. This move establishes a National Committee and Supreme Oversight Committee to enhance compliance with international standards and support national strategies. #AML #FinancialCrime #UAECompliance

‏Participation of a representative from the public and private sectors during the series of awareness workshops on the national assessment of the risks of money laundering and Terrorism financing which is held in Abu Dhabi.

In 2020, the Financial Action Task Force urged the UAE to “take urgent action to effectively stop the criminal financial flows that it attracts.” Finding the UAE’s efforts unsatisfactory, FATF put the country two years later on its gray list, which means increased monitoring of measures taken by the country to mitigate money laundering and terrorist financing. But FATF removed the UAE from its gray list this year, announcing that the country had made “significant progress,” including improvements in the ability to investigate and prosecute violators. An OCCRP-led investigation, Dubai Unlocked, called that decision into question. Now, FATF says it will probe findings from the investigation as it assesses the UAE’s efforts to improve its financial sector. https://lnkd.in/gPBXJc_y #DubaiUnlocked #FATF #UAE

The United Arab Emirates Government has introduced a Federal Decree-Law to amend certain provisions of the existing Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations law. The decree aligns with the UAE's national strategy to protect its financial ecosystem by implementing advanced standards to counter crimes that negatively impact economies. Read here to know more. #UAE #UAEgovernmentinitiative #antimoneylaunderinglaws #fianancialcrimes #financialsector #economy #globalstandards #financialcompliance https://lnkd.in/eTubfJP7

The agency will be known as the General Secretariat of the National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC). The General Secretariat plays a crucial role in coordinating compliance efforts within the UAE's financial sector. By enhancing coordination among national authorities and bridging the gap between public and private sectors, the Secretariat aims to boost efficiency and align with global standards, notably those set by the Financial Action Task Force (FATF). This decision marks a strategic move towards solidifying the UAE's position in combating financial crimes. It underscores the nation's commitment to fostering a secure and cutting-edge financial landscape in line with the Economic Vision 2031. #FATF #AML #Compliance #FinancialCrime