The UAE’s strategic goals

In the UAE, the National Committee for Anti Money Laundering and Combatting the Financing of Terrorism and Financing of Illegal Organizations (NAMLCFTC) has twelve strategic goals related to anti money laundering (AML) and countering the financing of terrorism (CFT):

 

Strategic Goal 1: Continue deepening the understanding of risk.

Strategic Goal 2: Strengthen the National Committee for Anti Money Laundering and Combatting the Financing of Terrorism and Financing of Illegal Organizations (NAMLCFTC) standing within the UAE’s national AML/CFT framework.

Strategic Goal 3: Improve law enforcement authorities’ efforts in detecting and investigating money laundering (ML).

Strategic Goal 4: Use provisional and confiscation measures more frequently and effectively.

Strategic Goal 5: Adjudicate and prosecute ML effectively and apply proportionate and effective sanctions.

Strategic Goal 6: Improve the effectiveness of regulatory and supervisory efforts for financial institutions and designated non-financial busines and professions, prioritising higher-risk sectors and taking dissuasive enforcement actions.

Strategic Goal 7: Identify and intercept unlicensed money remittance services effectively.

Strategic Goal 8: Enhance implementation of targeted financial sanctions without delay.

Strategic Goal 9: Align company registration frameworks across the UAE.

Strategic Goal 10: Strengthen the UAE’s assistance programmes’ links with its international partners.

Strategic Goal 11: Continue to investigate, prosecute and convict terrorism financing offences effectively.

Strategic Goal 12: Continue to modernise the UAE’s legal framework.