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‘Fawri Tick’: A quantum leap in coordinating AML/CFT actions across the country
Author | 08/ 09/ 2020 | 3 min read
In its continuous efforts to eliminate risks of financial crimes in the UAE, the National Committee for Combatting Money Laundering and the Financing of Terrorism and Illegal Organisations announced in its sixth meeting, the launch of ‘Fawri Tick ’, a smart system developed by the Federal Authority for Nuclear Regulation (FANR). ‘Fawri Tick’ is under the supervision and management of the sub-technical committee comprising of members of the National Committee and the Federal Authority for Nuclear Regulation.
The development of the Fawri Tick system aligns with the requirements of the Financial Action Task Force (FATF) and the relevant Security Council requirements to undertake necessary actions towards illegal financing. ‘Fawri Tick’, is a unified system that integrates and aggregates various Anti-Money Laundering and Counter Terrorist Financing (AML/CFT) cases across federal and local authorities, facilitates communication among all relevant authorities allowing necessary actions and decisions for the relevant case to be implemented in a very short time frame.
Fawri Tick a quantum leap in coordinating AMLCFT actions across the country-En
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