Sharjah 24 – WAM: The UAE Anti-Money Laundering and Countering Terrorism Financing Public-Private-Partnership (AML/CFT PPP) Committee concluded its third meeting, in the presence of representatives of competent government authorities and financial, non-financial and business institutions in the UAE.
The meeting addressed several types of money laundering and terrorist financing, including the misuse of legal structures. The attendees highlighted the committee’s plan and strategy for the next three years, which were drafted after intensive consultations with partners and stakeholders from the public and private sectors, and measures for assessing the effectiveness of the partnership between the public and private sectors, in addition to various awareness and capacity building initiatives aimed at addressing financial crimes.
AML/CFT PPP is one of the sub-committees of the National Committee for Combating Money Laundering and Combating the Financing of Terrorism and the Financing of Illegal Organisations. This committee aims to provide a common platform for dialogue and shared experiences with the aim of identifying wider challenges."
Driven by the Executive Office’s core functions of national polices and risks, national cooperation and follow-up and communication and strategic partnerships and the National Strategy’s six pillars of national policies and developments, law enforcement/ financial intelligence, supervisory theme, registries, international cooperation and targeted financial sanctions, the UAE AML/CFT PPP Committee is comprised of 17 government and 21 private sector entities (FIs & DNFBPs), thereby providing a common platform in which to share AML/CFT and counter proliferation financing experience.
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