UAE and UK Strengthen Anti-Financial Crime Collaboration
Abu Dhabi, The Gulf Observer: The UAE Financial Intelligence Unit (UAEFIU) hosted a delegation from the United Kingdom’s National Crime Agency in Abu Dhabi from 15th to 18th January 2024, marking a significant milestone in the UAE-UK Partnership to Tackle Illicit Financial Flows between the two countries.
Established in September 2021, this strategic partnership, co-chaired by Ahmed Al Sayegh, UAE’s Minister of State, and the UK’s Home Secretary, focuses on enhancing collaboration between two prominent global financial centers in combating financial crime.
The recent visit of the UK delegation, including representatives from the National Crime Agency (NCA), the National Economic Crime Centre (NECC), the UK Financial Intelligence Unit (UKFIU), and NCA operational teams, underscored the commitment to shared expertise and improved joint practices in countering illicit financial flows.
During the inaugural meeting of the Combined Anti-Money Laundering Operational Team, discussions centered on operational and tactical matters related to high-value targets (International Controller Networks) with connections in both the UAE and the UK. The meeting emphasized a new approach to operational collaboration, showcasing the concrete results of the Partnership since its inception.
The visit also included discussions with select representatives from the private sector, exploring a proposal for a cross-jurisdictional Public-Private Partnership information exchange. This initiative aligns with the broader objective of fostering collaboration between governmental and private entities in addressing financial crimes.
Ali Faisal Ba’Alawi, Chief of the UAE Financial Intelligence Unit, emphasized the importance of this collective effort in confronting money laundering, combating terrorism financing, and ensuring the protection and integrity of both local and global financial systems. He stated, “The meeting sets a solid foundation for enhanced cooperation with our UK partners in all aspects of preventing financial crimes.”
Adrian Searle, Director of the UK’s National Economic Crime Centre, acknowledged the significance of international cooperation in tackling the global nature of illicit finance. He stated, “This new joint operational effort is a welcome step forward in our work with UAE counterparts,” highlighting the positive impact of such collaborations on the global fight against financial crime.
