The Ministry of Justice is hosting the first conference on the role of central authorities in combatting money laundering and terrorism financing.
The three-day conference is taking place at the ministry’s headquarters in Abu Dhabi, with the participation of representatives from central authorities specialising in money laundering and terrorism financing from 31 countries, as well as relevant national entities.
On behalf of Abdullah Sultan bin Awad Al Nuaimi, Minister of Justice, Abdul Rahman Mohammed Al Hammadi, Acting Under-Secretary of the Ministry of Justice, gave a speech stressing that money laundering and terrorism financing pose a serious threat to the world and require stronger cooperation among nations.
He also highlighted the need for drafting strategies and policies to combat both crimes at national and international levels, lauding central authorities in various countries for promoting international cooperation, sharing information and expertise, and supporting investigations and prosecutions.
He then affirmed the need for stronger global partnerships and more direct contact between relevant authorities in all countries, praising the UAE’s efforts to combat money laundering and terrorism financing.
A working paper was presented by Judge Abdul Rahman Murad Al Baloushi, Assistant Under-Secretary for Legal Affairs at the Ministry of Justice, who explained the role of the central authority and judiciary authorities in the UAE, as per Federal Law No.39 for 2006.
He highlighted the roles and responsibilities of the International Cooperation Department and showed a video about the “ICAS” electronic system, which digitally links all relevant authorities in the UAE responsible for international judicial cooperation, such as the ministries of interior and foreign affairs and international cooperation, the Public Prosecution and its local branches, the Judicial Department, the Financial Information Unit and the Federal Customs Authority.
Al Baloushi added that the Ministry of Justice priorities strengthening international cooperation in addressing financial crimes and organised crimes, and has contributed, in coordination with its strategic partners, to forging several international agreements covering money laundering, terrorism financing, human trafficking, drug smuggling and organised crime, as well as in various legal and judicial areas.
To combat money laundering and coordinate with other national institutions, the Ministry of Justice established a specialist department and signed 37 bilateral, 15 collective and ten regional agreements for mutual legal assistance. These joint and ongoing efforts have made the UAE a successful model and ensured that companies in various sectors follow anti-money laundering and terrorist financing rules.
News Source: Emirates News Agency