UAE National AML/CFT Strategy Retreat Focuses On Achievements And Future Priorities

The UAE's National Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC) held a retreat in Dubai. This event, organised with Strategy& and PwC, gathered over 50 senior officials from various federal and local authorities. The focus was on reviewing the UAE's National Strategy for AML/CFT/CPF for 2024–2027, which was approved by the UAE Cabinet on 2nd September 2024.

The strategy is a comprehensive plan to combat money laundering, terrorism financing, and proliferation financing. It aligns with Financial Action Task Force (FATF) standards, showcasing the UAE's commitment to maintaining the integrity of the global financial system. The strategy is built around four strategic pillars and 11 national goals, including strengthening supervision, enhancing domestic coordination, fostering international cooperation, and integrating innovation and technology.

This strategic framework guides national reforms to establish a sustainable long-term system. It acts as a unified roadmap for all relevant authorities, ensuring consistent implementation across government levels. The retreat also initiated preparations for the 2027–2030 strategy cycle. Participants assessed achievements and challenges under the current strategy while setting early priorities to translate policy objectives into measurable actions.

Held at PwC's Dubai Experience Centre, the programme included plenary discussions and breakout sessions on key issues like proliferation finance, ransomware, tax crime, cybersecurity, blockchain, gaming, casinos, and virtual assets. Sessions highlighted lessons from FATF-rated jurisdictions and explored emerging global financial crime risks.

Mohamed AlKatheeri, Director of the National Coordination and Follow-Up Department, delivered an introductory address emphasising a unified approach. He stated: "We act as one national team, united by a single purpose: delivering for the UAE. Our task is to turn strategy into action with full transparency and results that stand up to international scrutiny." His remarks underscored coordination as central to their efforts.

The workshop produced three main outcomes to bolster the UAE's anti-financial crime framework. First was a commitment to accelerate delivery of the National Action Plan through agile strategy cycles and enhanced inter-agency collaboration. Second were concrete follow-up actions like reviewing FATF submissions and resilience testing via simulation exercises.

Vision for Future Strategies

A strategic visioning session outlined foundational pillars for the UAE's 2027–2031 AML/CFT/CPF strategy. This session highlighted the nation's dedication to enhancing its global leadership in combating financial crime and terrorist financing. These efforts ensure implementation remains transparent, adaptive, and results-driven.

AlKatheeri further noted that more than 50 senior officials participated in this retreat. This participation reflects both the strength of their system and their serious commitment to safeguarding both UAE’s interests and those of the global financial system.

The retreat served as an opportunity not only to review past achievements but also to set clear priorities for future strategic cycles. By doing so, it ensures continuity in accountability while fostering shared commitment towards excellence beyond 2027.

With inputs from WAM