The UAE is making great progress in combating money laundering

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 The UAE has significantly strengthened its framework to combat financial crimes. The action plan builds on the solid foundations and significant ongoing efforts to underscore its strong commitment to working closely with the Financial Action Task Force (FATF) to address the remaining areas of improvement through the implementation of the action plan.

This is what the Financial Action Task Force (FATF) has recognized that the UAE has made positive progress in its anti-money laundering (AML), countering the financing of terrorism (CFT), and counter proliferation financing (CPF) efforts, and to ensure the success and sustainability of those efforts, FATF announced that it has place the UAE under increased monitoring.

"The UAE takes its role in protecting the integrity of the global financial system extremely seriously and will work closely with the FATF to quickly remedy the areas of improvement identified. On this basis, the UAE will continue its ongoing efforts to identify, disrupt and punish criminals and illicit financial networks in line with FATF’s findings and the UAE’s National Action Plan, as well as through close coordination with our international partners." This is the comment of  the UAE’s Executive Office of AML and CFT, which will enhance the country's position as an attractive global business center that operates in line with international standards.

Furthermore strict and continuous measures have been taken by the UAE government and the private sector to ensure the stability and integrity of the financial system in the country.

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