National Coordination

Ensuring Technical Compliance With Global Aml/Cft Standards

Ensuring technical compliance with the specific requirements of the FATF’s 40 recommendations including the framework of laws and enforceable means; and the powers and procedures of competent authorities. This is important because it helps to ensure that the UAE AML/CFT regime is in line with international standards.

Ensuring Effectiveness Of Aml/Cft Systems

Ensuring that the key objectives of the UAE AML/CFT system are being effectively met in practice in line with the FATF Standards.

Identification Of Deficiencies And Suggest Recommended Actions

Conducting a ML/TF self-assessment to Identify any shortcomings related to technical compliance and/or effectiveness and recommend corrective actions to address all identified deficiencies promptly.

Consistency And Follow-Up

Ensuring consistency between AML/CFT mandated authorities, which number over 80, as well as the private sector, and follow up on the progress of work. This helps to ensure that all entities are working towards the common goal of combatting ML/TF and in line with the national strategy, the action plans and the international standards.

Review Of Relevant Reports

Review all national papers and reports to ensure their quality and consistency with the requirements of international standards and the national AML/CFT regime.

Reviewing all international reports and papers and provide the required technical inputs to contribute to the efforts of the global network to combat money laundering and terrorist financing.

Collection And Analysis Of Statistics

Collecting, analyzing, and reporting on AML/CFT related statistics nationally. This helps to inform decision-making and ensures that the UAE AML/CFT regime can demonstrate in an evidence-based construct that it is effective and operating in accordance with global AML/CFT standards.

Facilitation Of International Expert Visits

Facilitating visits of international experts, including those associated with the NRA and MER processes. This helps to ensure that the UAE is meeting its international obligations and that its AML/CFT regime is in line with best practices.

Initiating Projects And Monitoring Performance

Recommending and advising on initiating projects based on the AML/CFT requirements identified in cooperation with the AML/CFT mandated entities. The Executive Office of AML/CTF plans AML/CFT projects on a national level, including defining tasks, timelines, responsibilities, KPIs, and other performance tools.

KPIs and Benchmark

Developing KPIs and benchmarks against global AML/CFT standards and leading practices. This helps to ensure that the UAE AML/CFT regime is continuously improving and is in line with international requirements.