UAE to work with regional neighbours on combating fraud and money laundering

The United Arab Emirates (UAE) intends to collaborate with its neighboring countries to address issues of fraud and money laundering, as criminals often exploit the fact that victims, perpetrators, and stolen funds can be distributed across different nations. Hamid Saif Al Zaabi, Secretary General and Vice Chair of the National Anti-Money Laundering Committee, revealed this during the UN Congress on Crime Prevention and Criminal Justice, which took place in Abu Dhabi.

Al Zaabi emphasized that fraud is a transnational issue, with criminals potentially operating in one country, victims in another, and the money in a third. To effectively combat this, his committee aims to gain a better understanding of the legal systems and procedures of other nations to facilitate efficient cooperation.

The UAE's efforts in this regard were demonstrated when it extradited Daniel Kinahan, an alleged organized crime figure, to Ireland on August 9 following a ruling from the Dubai Court of Cassation. The UAE's strong anti-money laundering measures have also been reinforced with additional staff and systems, allowing for more rapid sharing and analysis of information.

The National Committee reported a significant increase in financial crime, with about 80,000 suspicious transaction reports filed in 2025, a 80% rise in financial intelligence disseminations, and over Dh4.23 billion in domestic confiscations. The committee also facilitated 813 public prosecution investigations and 516 incoming mutual legal assistance requests.

The UAE's comprehensive strategy to combat financial crime involves a strong partnership between government entities, the private sector, and international cooperation. The Federal Decree-Law No. 10 of 2025, which covers anti-money laundering, the financing of terrorism, and the proliferation of financing, is considered one of the strongest laws in this area, recognizing proliferation financing as a distinct risk and extending the framework to digital assets and virtual-asset service providers.