The United Arab Emirates Ministry of Economy signed a memorandum of understanding with Dubai Police General Command to strengthen cooperation on developing compliance mechanisms for anti-money laundering and countering the financing of terrorism (AML/CFT) requirements, including the exchange and integration of information to support supervisory roles within the national legislative framework. The MoU sets a framework for joint AML/CFT procedures covering control, inspection and monitoring of illicit activities, alongside technical and security coordination and the exchange of data on money laundering and terrorism financing crimes. Cooperation will focus on improving risk response and follow-up related to suspicious financial activities in the Designated Non-Financial Businesses and Professions (DNFBPs) sector, including real estate agents and brokers, traders of precious metals and stones, auditors and company service providers, and will support the Ministry’s work in identifying the real beneficial owners of legal entities. It also provides for secure communication channels for confidential data, joint training and specialised workshops, periodic analytical reporting to support decision-making, awareness and media campaigns, and collaboration on developing and reviewing relevant policies, legislation and regulatory frameworks to align with international requirements.

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