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DFSA and UAE's FIU Forge Alliance to Combat Financial Crimes and Ensure AML/CFT Compliance

Dubai's Financial Services Authority (DFSA) and the UAE's Financial Intelligence Unit (FIU) have solidified their commitment to combating money laundering and countering the financing of terrorism (AML/CFT) by signing a Memorandum of Understanding (MoU) on August 3rd.

DFSA and UAE's FIU Forge Alliance to Combat Financial Crimes and Ensure AML/CFT Compliance

The agreement, signed by Ian Johnston, CEO of DFSA, and Ali Faisal Ba'Alawi, Chief of FIU, aims to bolster cooperation, coordination, and the exchange of information between the two entities in order to effectively fulfill their respective responsibilities in enforcing AML/CFT compliance.


In an increasingly interconnected global financial landscape, the collaboration between local and international authorities is imperative to ensure the integrity of the financial system. Ian Johnston stressed the significance of such partnerships, stating, "It is crucial to work closely with authorities at a local, regional and global level in our interconnected environment, to exchange information and combine resources to combat financial crime." The MoU establishes a structured framework for DFSA and FIU to align their efforts in the fight against AML and CFT.

The formalization of this cooperation through the MoU enables the sharing of knowledge, expertise, and experiences related to the prevention of financial crimes. Ali Faisal Ba'Alawi, Chief of FIU, emphasized the importance of this joint initiative in safeguarding the integrity, stability, and efficiency of supervised entities and the broader financial system. "The MoU signing formalizes the sharing of knowledge, experience, and expertise regarding the prevention of financial crime. Such cooperation is essential in order to protect and promote the integrity, stability, and efficiency of the supervised entities and financial system," stated Ba'Alawi.


The MoU signifies a pivotal step towards strengthening the UAE's efforts in combating financial crimes and upholding global AML/CFT standards. By facilitating seamless information exchange and collaboration, the agreement sets the stage for a united front against illicit financial activities, ultimately contributing to a more secure and resilient financial environment. Both DFSA and FIU are poised to enhance their capabilities and effectiveness in tackling AML/CFT compliance through this strategically crafted cooperation framework.

By fLEXI tEAM




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