The UAE’s anti-money laundering agency has discussed the formation of a trilateral committee with the United States and Russian Federation on exchanging information on the suspected financial flows into each other’s countries.
“Formation of a trilateral committee to exchange information on suspected illicit financial flows which may occur between UAE and US or UAE and the Russian Federation,” were discussed at the trilateral meeting with US and Russian Federation, a Press release issued by the Central Bank of the UAE said on Wednesday.
The National Anti-money Laundering Committee, or NAMLC, delegation led by Abdulrahim Mohamed Al Awadi, executive director, head of Anti-money Laundering & Suspicious Cases Unit (AMLSCU) at the Central Bank of the UAE, recently held a trilateral meeting with the representatives of the US and Russian delegations attending the 3rd plenary meeting of FATF XXIII in Rome.
At the meeting the NAMLC delegation highlighted the workshops and trainings conducted jointly with Financial Crimes Enforcement Network (FinCEN) — FIU of USA and others on AML/CFT for all stakeholders including on capacity building for the South East Asian Financial Intelligence Units (FIUs), which reflected UAE’s commitment to international cooperation on matters of global concern, the central bank release said.
“Issues relating to enhancement of cooperation and coordination between the concerned authorities in the UAE and their counterparts in the USA and Russia in the area of combating money laundering, terrorist financing and other economic and financial crimes were discussed,” the statement said adding that they also discussed the signing of MoUs for the purpose of exchange of financial information and training.
The trilateral committee also reviewed the level of cooperation between the Financial Intelligence Units in the respective countries. The officials discussed a common strategy in line with the memorandum submitted by the US and Russian authorities.
The trilateral meeting was attended by official from Dubai Police General Headquarters, General Directorate of State Security in Dubai, State Security in Abu Dhabi and Federal Customs Authority.