Latest News

CONNECT, NOW.
We understand the importance of availability, and we act on it.

UAE & China Join Forces to Fight Money Laundering

11/8/2021

The MoU marks the establishment of cooperation mechanisms in anti-money laundering and countering terrorist financing.

The UAE Financial Intelligence Unit (FIU) has signed a Memorandum of Understanding (MoU) with the China Anti-Money Laundering Monitoring and Analysis Centre (CAMLMAC) to facilitate international cooperation on the exchange of intelligence concerning anti-money laundering and combatting the financing of terrorism.

The signing of this MoU is in line with the objectives of the UAE and the People’s Republic of China in having their respective authorities cooperate on the assembly, development, and analysis of intelligence on financial transactions suspected of being related to money laundering and terrorist financing.

The MoU was signed by Ali Faisal Ba’alawi, Head of the UAE FIU, and Gou Wenjun, Director-General of the CAMLMAC.

Commenting on the MoU, Ba’alawi, said, “The signing of this MoU is a testament to the strength of the relationship between the UAE FIU and the CAMLMAC as we look to cooperate on the exchange of intelligence in anti-money laundering and combatting the financing of terrorism.

The UAE has become China’s largest export market and second largest trade partner in the Arab World. The MoU marks the establishment of cooperation mechanisms in anti-money laundering and countering terrorist financing.

You might also like...
UAE: MASK FREE Except for 3 Public Areas
Starting Wednesday, September 28, mask-wearing is optional for all "open and closed facilities and spaces", except for hospitals and medical facilities, mosques, and public transportation means like buses, Dubai Metro and Dubai Tram.
read More
Beware of Big Ticket Abu Dhabi’s Scammer Account
Organizers of the popular mega raffle draw Big Ticket Abu Dhabi have issued a fraud alert, warning the public of a fake social media account that claims to be its "second account" and bears the handle "@bigtiicketauh".
read More
Digitisation of RTA Licensing Services
'Click and Drive' will digitise the entire process of obtaining drivers' licenses, including a first-of-a-kind mobile eyesight testing service in the region that is currently run by Al Jaber Optical.
read More
SEE ALL INSIGHTS
Thanks, got it!
Something went wrong, please try again.

Use our online calendar to set up your own appointment and connect to an elawyer for a consultation.