UAE Hosts First Global Network Secretariats Retreat To Enhance Financial Crime Cooperation

The United Arab Emirates hosted a significant meeting of the Financial Action Task Force (FATF) Global Network Secretariats in Abu Dhabi from 7th to 9th April 2025. Organised by the UAE's General Secretariat of the National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC), this retreat aimed to enhance dialogue and cooperation among the Secretariats.

Participants from various regional bodies, including the Asia/Pacific Group on Money Laundering (APG) and the Caribbean Financial Action Task Force (CFATF), attended. They shared best practices to address challenges in supporting member countries during upcoming mutual evaluations. The event also included representatives from MONEYVAL, EAG, ESAAMLG, GABAC, GAFILAT, GIABA, and MENAFATF.

Hamid Saif AlZaabi, Secretary-General and Vice Chair of NAMLCFTC, highlighted the importance of this gathering. He stated, "This retreat marks a historic moment for the FATF Global Network. For the first time, all Global Network Secretariats are coming together to drive a bottom-up approach—where regional bodies set the agenda, voice their priorities, and tackle the unique challenges their member states face."

AlZaabi emphasised that no single country can combat financial crime alone. He noted that cooperation is crucial in fighting financial crimes effectively. "Cooperation is our strongest weapon, every insight, every collaboration strengthens our collective fight to stop criminals, seize illicit funds, and protect our economies and societies," he added.

The UAE's commitment to international cooperation was evident as it hosted this event. AlZaabi expressed pride in hosting such an important gathering. "The UAE is proud to host this event as part of its deep commitment to fostering international cooperation and strengthening global financial security," he said.

This retreat provided a platform for regional bodies to voice their priorities and set agendas tailored to their unique challenges. By promoting a bottom-up approach, it empowered these organisations to take charge in addressing issues relevant to their regions.

The meeting underscored the necessity of collaboration among different regions to combat money laundering and terrorism financing effectively. By sharing insights and strategies, participants aimed to enhance their collective efforts against financial crimes globally.

With inputs from WAM