The National Committee for Combating Money Laundering, Terrorism Financing, and the Financing of Illegal Organizations held a national retreat to discuss the National Strategy for combating money laundering, terrorism financing, and the proliferation of weapons, in collaboration with Strategy and PwC.
More than 50 high-ranking officials from various federal and local entities participated in the retreat, which took place in Dubai. The discussion focused on the 2024-2027 Strategy approved by the Cabinet on September 2 of last year, clearly outlining the country’s future path in enhancing efforts against financial crimes and ensuring compliance with the standards set by the Financial Action Task Force (FATF).
This strategy serves as a crucial national policy document, demonstrating the UAE’s strong commitment to maintaining the integrity of the global financial system. It revolves around four main pillars and includes 11 national objectives that focus on enhancing oversight and enforcement, fostering local coordination, deepening international collaboration, and embedding innovation and technology within the operational framework.
These foundational elements have guided national reforms aimed at building a sustainable, long-term system. The strategy continues to act as a unified roadmap for all stakeholders, ensuring consistent and effective implementation across the country.
The retreat marked the beginning of preparations for the 2027-2030 National Strategy cycle, where participants assessed the key achievements and challenges from the current cycle and identified future priorities, translating strategic goals into practical initiatives and measurable outcomes.
The retreat included general sessions and specialized discussions that highlighted critical issues such as the financing of weapon proliferation, ransomware attacks, tax crimes and information exchange, cybersecurity, blockchain technology, gaming and casinos, and virtual assets.
Discussions also emphasized lessons learned from countries that have been positively evaluated by the FATF and the emerging risks in global financial crimes.
Mohammed Al-Khatiri, Director of National Coordination and Monitoring, stressed the importance of collective efforts to transform the strategy into tangible actions that maintain transparency and withstand international evaluation. He noted that the retreat not only served as a chance to review achievements but also to establish clear priorities for the upcoming strategic cycle, ensuring continuity, accountability, and excellence that extends beyond 2027.
The workshop resulted in three key outcomes aimed at enhancing the national framework for combating financial crimes, which included accelerating the implementation of the national action plan through more flexible strategic cycles, enhancing inter-agency cooperation, and improving data exchange mechanisms. The outcomes also included the establishment of comprehensive follow-up procedures such as reviewing FATF reports, ensuring alignment of efforts with national risk assessment results, and conducting simulation tests to measure readiness and enhance transparency and efficiency.
Additionally, the workshop featured a strategic vision session that outlined the core pillars for the upcoming National Strategy 2027-2031, reaffirming the UAE’s commitment to maintaining its global leadership in combating financial crimes and terrorism financing.