The UAE has launched its 2024-27 National Strategy for Anti-Money Laundering and Countering the Financing of Terrorism and Proliferation Financing (AML/CFT/CPF), following approval by the UAE Cabinet on September 2.
The strategy outlines legislative and regulatory reforms aimed at combating illegal activities and protecting society and is built around 11 strategic goals.
The document was developed by the General Secretariat of the National Committee in collaboration with key stakeholders. It also aligns with the World Bank Group’s methodology and international standards.
HH Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Foreign Affairs and Chairman of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism, said, “I would like to express my appreciation to the National Committee and its General Secretariat for their exceptional efforts in preparing and delivering the UAE’s new strategy for anti-money laundering, combating the financing of terrorism (AML/CFT) and the financing of illicit organisations.
“This initiative follows the Financial Action Task Force’s (FATF) decision to delist the UAE from its Grey List in February 2024, further underscoring the UAE’s unwavering commitment to upholding the highest international standards.”
The strategy focuses on risk-based compliance, effectiveness and sustainability.
It aims to enhance national and international coordination, improve supervision of AML/CFT obligations within the private sector, and strengthen the detection and disruption of illicit financial activities. It also emphasises optimising human and technical resources and continuously updating the legal framework.
The General Secretariat of the National Committee will oversee the implementation of the strategy. Regular progress reports will be submitted to the Higher Committee.
