UAE and EU Join Forces to Tackle Money Laundering and Terror Financing

The United Arab Emirates and the European Union have reaffirmed their commitment to fighting financial crimes at the seventh EU-UAE Structural Dialogue on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), held in Abu Dhabi. The high-level meeting highlighted the deepening partnership between the two economic powerhouses in combating money laundering and terrorism financing on a global scale.

Chaired by Saeed Al Hajeri, Assistant Minister for Economic and Trade Affairs, the dialogue brought together a broad coalition of UAE authorities, including the Central Bank, Ministry of Economy, Ministry of Interior, Dubai Police, and the Economic Security Centre of Dubai. These entities were joined by the Secretariat-General of the National AML/CFT Committee, the Financial Intelligence Unit, and the Executive Office for Control and Non-Proliferation, among others.

Representing the EU, Lucie Berger, Head of the EU Delegation to the UAE, led a delegation featuring key officials from the European Commission’s Directorate-General for Financial Stability (DG FISMA), Directorate-General for Migration and Home Affairs (DG HOME), Directorate-General for Justice and Consumers (DG JUST), and the European External Action Service (EEAS).

Saeed Al Hajeri set the tone for the dialogue by spotlighting the UAE’s status as a rapidly growing global hub for trade, investment, and innovation. “As one of the world’s fastest-growing economies, the UAE is firmly committed to maintaining a resilient and transparent financial system,” he said. “We will continue to work hand-in-hand with our international partners, including the European Union, to combat financial crimes and ensure global stability.”

The discussions delved into the latest global trends and challenges in AML/CFT, with the UAE offering a detailed overview of its National Strategy. Officials highlighted how the strategy reinforces the nation’s framework to prevent the misuse of financial systems, strengthen safeguards, and mitigate risks. The UAE also shared updates on recent efforts to collaborate with international partners, showcasing a proactive approach to evolving threats.

For their part, EU officials praised the UAE’s progress and commitment, pointing to the importance of cross-border partnerships in tackling financial crimes. “The interconnectedness of today’s financial systems demands a united front,” Berger said. “The EU values the UAE’s dedication and leadership in addressing these challenges.”

A significant focus of the dialogue was on expanding avenues for cooperation. Both sides explored how deeper engagement could bolster mutual efforts to uphold international standards, safeguard financial systems, and ensure transparency. These discussions, according to participants, mark another milestone in a growing alliance that has seen increased collaboration over recent years.

The meeting underscored not only the challenges posed by financial crimes but also the opportunities for collaboration. As threats evolve, the UAE and EU have made it clear that their partnership will remain a cornerstone of global efforts to protect the integrity of financial systems and counter the financing of terrorism.